International Trade International In Brief
Opportunities abound in growing economies
Midlands Engine and the Department for International Trade are organising a number of overseas trade missions to some of the world’s fast growing economies. Among these is a visit to Auto Expo
Components 2018, which takes place in New Delhi, India, on 8-11 February. Not only is India one of the world’s fastest
growing economies, it is a major market for the automotive sector.
British Chambers of Commerce (BCC) is bringing a major international trade event to Birmingham, in the hope of helping UK firms boost their share of the export market. The BCC International Trade Summit will
take place at the Vox Conference Centre, Resorts World, on 12 October. The event will give delegates practical
advice, invaluable resources and the contacts needed to grow their business, and begin the next step of their export journey. They will also be able to explore trade opportunities in new markets via BCC’s Global Business Network, which is made up of more than 25 international Chambers. Dr Adam Marshall, director general of the
British Chambers of Commerce said: “Improving the UK’s export performance in the coming years will be key to driving wider economic growth across the country. “The Chamber Network’s International Trade
Summit is intended to help firms, both those beginning their export journey and those looking to grow their existing overseas sales, by sharing best practise and pragmatic advice.”
The Department for International Trade is organising its annual Gulf Tour to the UK during September, which promises to open up a wealth of business opportunities in the Gulf countries of Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. This will be the eighth in the series, and is
aimed at British companies seeking new business opportunities in the Gulf markets of UAE, Qatar, Saudi Arabia and Kuwait. The tour will visit Burton on 19 September,
and will be targeting 'new-to-market' companies from around the UK seeking to export goods and services for the first time. The Gulf event is free and the organisers say it
will be a valuable opportunity for UK based companies to hear first-hand from their overseas colleagues about current opportunities. Mark Sankey, head of the DIT team at Great Birmingham Chambers of Commerce, said: “West Midlands companies who are new to doing business in the Gulf region or who wish to build their existing business in this dynamic region are encouraged to secure their place at this popular event as soon as possible.”
28 CHAMBERLINK September 2017
‘The automotive sector in India is attracting increasing investment from manufacturers based outside the country’
The country produces 24 million vehicles a
year currently, and is the third largest automotive market in the world. Auto Expo Components 2018 is India’s largest
and most important event for automobiles and automotive components and takes place every two years. It is an opportunity for manufacturers to
present their latest products to a broad trade audience from the entire sub-continent. Pete West, international trade advisor at the
Chamber, said: “This is a golden opportunity for UK companies looking to export their products to a massively important market place.
“The automotive sector in India is attracting
increasing investment from manufacturers based outside the country and this is being encouraged by the Indian government.” In addition to India, from 7 to 11 November the Midlands Engine will be visiting the China International Industry Fair (CIIF) in Shanghai. With £3.1bn exports from the Midlands to China, this is a great opportunity to tap into a huge market for regional businesses, according to Midlands Engine. Businesses who attended the mission last year are expecting to win nearly £1.2m of orders.
Child’s play for toy exporters
The Chamber’s overseas fairs division team is gearing up for a busy 12 months, which will see them maintaining a presence at a number of major toy fairs, as well as other exhibitions. Among the toy fairs is Kids India Toy Fair,
which takes place between 20 – 22 September this year. According to overseas fairs account director
Stuart Whitehill, a number of UK businesses are expected to attend the show as exhibitors and the anticipated value of orders expected over two years to reach £2.5m. Stuart said: “Kids India is India’s largest B2B
fair for toys and children’s products. The Indian toy industry is one of the fastest growing in the world and presents a huge potential. Key factors for the growth of the toy industry are the growing middle class with rising income promises, the decline in the average number of children per family and increased attention to premium toys.” Another toy fair takes place in Hong
Kong on 8-11 January and is also expected to attract a number of UK exhibitors.
It is estimated that this fair, which is the
largest toy industry event in Asia, could be worth more than £10m in terms of anticipated orders during the next two years. Later that month will be yet another event,
the New York Toy Fair, which will take place between 17 and 20 February 2018. Stuart said: “The New York Toy Fair 2017
opened its doors to thousands of registered global play professionals to explore a record- breaking 443,000 net square feet of exhibit space filled with hundreds of thousands of toys, games and youth entertainment products.”
Golden
opportunity: Pete West
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