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Britain to Launch Campaign for More Exports to Asia
Dec 8,2011 13:35CST
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Source:SMM
Britain is to launch a campaign to encourage more British companies to export to Asia's high growth and emerging markets.

LONDON, Dec. 7 (Xinhua) -- Britain is to launch a campaign to encourage more British companies to export to Asia's high growth and emerging markets, the Foreign Office said on Wednesday.

As part of the campaign, UK Trade & Investment (UKTI), a government department that helps Britain-based companies to succeed in the global economy, has joined forces with the Royal Bank of Scotland (RBS) to deliver a series of programs that will demonstrate key business opportunities across 12 Asian markets to British firms, the Foreign Office said in a press release.

The events will be held in February 2012 and run until March 2013 and will focus on China, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

The campaign will start with a "Smart Cities of the Future in Asia" publication and followed by a program of events and practical guides for businesses to succeed in the Asian markets.

In 2010, Britain's export to the 12 markets involved in the campaign totaled 25 billion pounds (39 billion U.S. dollars), which is "still well below potential," said Vince Cable, Secretary of State for Business, Innovation and Skills and co-chair of the Asia Task Force.

He urged companies from all sectors to get involved in this campaign, and "see what opportunities Asia could hold for them."

By 2030, Asian consumers' spending is expected to be around 32 trillion dollars annually or about 43 percent of worldwide consumption, said Foreign Secretary Willian Hague.

"So the economic compass of British businesses should be pointing firmly East, and we are determined to support them in their efforts," he said.

Hague described the campaign as "commercial diplomacy in action" as around 20 senior diplomats with commercial experience in these markets "team up with business leaders who have been there and done it" and give face-to-face advice to British business on how they can succeed in Asia.

The RBS also plans to extend "a helping hand to demystify trading with Asia" by hosting four events around the country, which will bring together UKTI market specialists and experts from RBS to provide export advice to companies.

The British government recently decided to allocate an additional 45 million pounds (72 million dollars) to international trade promotion to help more medium-sized exporters and also double the number of small and medium-size enterprises UKTI supports from 25,000 to 50,000.
 

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