Region's exporters buck the trend
THE East of England's exporters are bucking the gloomy economic trend by boosting business with some of the world's fastest-growing countries.Regional trade statistics published by HM Revenue & Customs for the first quarter of 2009 reveal that trading between the East of England and non-EU countries has increased 11.
THE East of England's exporters are bucking the gloomy economic trend by boosting business with some of the world's fastest-growing countries.
Regional trade statistics published by HM Revenue & Customs for the first quarter of 2009 reveal that trading between the East of England and non-EU countries has increased 11.3% year on year, within which sales to Asia were up by 13.8%.
Even with trade to recession-hit EU markets included, exports as a whole from the East of England were up 4.7% year on year.
East of England International, which works to promote overseas trade as well as to attract inward investment to the region, said the growth in companies exporting to emerging markets such as China, India, Brazil and Russia was of particular significance.
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China is the world's third largest economy and third largest importer of goods and services offering many opportunities for the region's companies, while Russia, India and Brazil are amongst the world's fastest growing economies.
EEI, whose role includes delivery of the UK Trade & Investment (UKTI) programmes of business support, said an increasing number of businesses were recognising the opportunities of venturing overseas to provide new revenue streams, protect jobs and increase profitability.
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For many, a major factor contributing to their export success was the pound's favourable exchange rate making UK goods and services even more attractive, it added.
David Riches, chief executive of EEI, said: “As the figures show, even though we are in a recession there are still opportunities for businesses in the global marketplace. Importantly, with the support of UKTI offices in 99 countries, we can help businesses make the right connections in an overseas market to get them trading.”
EEI helps businesses of all sizes, and from across all sectors, to maximise their export potential, through the UKTI support programmes and a team of international trade advisers, including specific expertise in emerging markets
Programmes include Passport to Export, designed to take firms with no export experience to successfully winning business overseas, and the newly launched strategic Gateway to Global Growth programme that helps experienced exporters take their international business to the next level.