Outlook for International Trade

by jbolhoven on 08-May-09 13:52

I attended 3 international trade policy forums within the British Chambers of Commerce 'road to recovery' conference and exhibition on Monday 27 April. Over 500 delegates attended from across the UK and the speakers included Lord Davies Of Abersoch CBE, Minister for Trade and Investment, Nicholas Armour, Director International Group 1, UK Trade and Investment, Francoise le Bail, SME Envoy European Commission and Claire Durkin, Director Europe, International Trade and Development, Dept for Business Enterprise and Regulatory Reform.

The overall feeling of the event was optimistic but there’s still a lot of work to do. But the key messages to take away were as follows:

International Trade presents the greatest growth opportunities for SMEs/UK businesses, in particular the opportunities presented by high growth market such as Brazil, China & India, and beyond the BRIC countries, Latin America (currently untapped by UK companies and growing).

A number of EU measures are being put in place to improve better international access:

• Small business act for Europe
• Cutting red tape 
• Access to finance (EIB / EIF)
• Enterprise Europe Network (600 partners, 44 countries)
• European Business Centres (India + China)
• Market access strategy
• Strengthening SME policy angle within trade policies
• Improved market access conditions
• Control of state aids

Challenges:

• Out of date perception of UK businesses by international partners.
• There is a need for greater consistency between UK public bodies (businesses current receiving fragmented help).
• There is a need to maximise links between SMEs and large corporations, taking advantage of existing supply chains.
• There is a need (and a desire following the budget) to showcase UK excellence. There is a general understanding that we don't value our industries as much as the rest of the world. The minister for Trade & Investment announced that they will be actively looking at how they can do this using broadcast and new media.

It proved to be useful insight and UK SMEs are very much seen as key to our ‘road to recovery’.

Tagged:international trade

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