UKTI invites North East firms to explore new markets

North East firms are being urged to tap into export growth by exploring opportunities in one of the fastest growing economies in Africa

North East firms are being urged to tap into export growth by exploring opportunities in one of the fastest growing economies in Africa.

UK Trade & Investment (UKTI) is organising a Market Visit to Angola in January 2014 to give companies an insight into the market and a chance to meet potential customers and business partners.

In the last ten years, Angola has experienced an average of almost 12% per year growth in GDP, much of it from its rich oil and gas reserves.

It is an important trade partner for UK companies and exports to Angola have increased year on year, with the annual total currently in excess of £600m.

Jonathan Gamblin, UKTI International Trade Adviser who will lead the delegation, said: “As one of Africa’s fastest growing economies, Angola is a challenging market with huge opportunities for UK businesses.

“As well as the obvious ones offered by the oil and gas sector, there‘s also plenty of potential in the education and training, construction, financial services and agricultural sectors.

“The Angolan government is also keen to diversify the economy and is offering attractive incentives to encourage private investment in industries other than oil and gas.

Travelling as part of a group provides added security and support and, of course, UKTI offers experienced hands-on advice and guidance both before and during the visit. It’s a great way to explore what the market offers.”

Companies need to register their interest by November 15 2013. There is a financial contribution on offer for eligible companies of £800.

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