Cisco pledges support to BIG

Prime Minister David Cameron has welcomed

Aerospace and homeland security sectors connect

A unique opportunity to do business with overseas buyers from the homeland security and aerospace industries was organised by UK Trade & Investment (UKTI) South East,

the UKTI Defence and Security Organisation, the Security Innovation & Technology Consortium and Farnborough

Aerospace Consortium in late January. More than 50 decision markers from India and the US met with UK companies at the event. The global homeland security market is expected

to double its currently estimated $150bn value by 2018. UKTI South East international trade adviser and security sector specialist John Gordon said: “The event is designed to drive

opportunities for SMEs based in the southeast and help them cross the business threshold in key markets. It is very much not a one-off occasion, but part of an ongoing programme of

business development support that began with separate ‘Meet the Buyer’ events for India and the US last year, and trade missions to both countries to help SMEs take advantage of fully researched and validated opportunities. We believe this

continuity is vital to help companies forge profi table long-term business relationships.”

Angola holds opportunities for UK fi rms

Foreign & Commonwealth Offi ce Minister for Africa, Henry Bellingham, has highlighted the potential for UK fi rms in Africa’s third-largest market, Angola. After a visit to the country at the end of 2010, he met with UK business leaders to highlight available support for companies looking to

invest in the region, which already imports industrial machinery, iron and steel from the UK. Bellingham said: “British companies

that want to grow their business on African soil should seriously consider this market. The potential here is rich and plentiful.”

Cisco’s plan to invest in East London’s Tech City, through an initiative called the British Innovation Gateway (BIG). “This will help create many new jobs and opportunities, and support our drive to diversify our economy and generate sustainable economic growth,” said the Prime Minister. “We want to bring together the energy and innovation of Shoreditch and the incredible potential of the Olympic Park to help make East London one of the world’s great technology centres.” The Olympic Legacy Company has

agreed to create an ‘accelerator’ space there, providing offi ce space for expanding local companies. In line with Government goals, BIG will mark the start of a fi ve-year effort to drive new economic growth through high-tech innovation, fostering an environment of entrepreneurship within the UK and ensuring an enduring legacy from the London 2012 Olympics and Paralympics Games.

UK/Chinese deals agreed

UK and Chinese fi rms signed deals worth in excess of £2.6bn during a visit by Chinese Vice-Premier Li Keqiang. Agreements include a commitment to sales of 40,000 Jaguar and Land Rover vehicles in China during 2011, a joint venture with the China National Petroleum Company leading to the creation of an estimated 8,400 jobs in the UK, and increased co-operation on competition issues. Chinese investment into the UK was £44m in 2009 and bilateral trade with the UK was £32.2bn.

springboard: | www.ukti.gov.uk | page 07