Attendees at the West London Export Club heard about a number of export markets, including Libya and Vienam.
The Club aims to help businesses in the sub-region to understand export better, and to see how they could start to do more.
Chris Maw of PwC opened the event, talking about one of their recent CEO surveys, which that while British companies were less confident now than a year ago, exporting more was a key desire for many, and that the USA, China, and Germany were the key markets being targeted.
Alan Rides, of Hounslow Chamber of Commerce, highlighted that while China is a strong growth market which will replace the USA as the world’s largest economy in 2032, other markets could offer faster growth. Libya, for example, is expected to grow around 42% this year, and has a long history of buying british.
Another market with an afinity to the UK is Vietnam, which was discussed by Nghia Tran from DIT. UK exports to the country are 35% up year on year, and we are their third largest trading partner. While the economy is not growing as fast as Libya’s, “only” up 6%, it is still an attractive proposition, now 68th (and climbing) in the World Bank ‘Ease of Business’ index, following work on automated cargo clearance and extended customs hours.
Delegates heard about Malta too, which pitched itself as an ideal place for a UK company to open an office – laws and business frameworks are similar to the UK, but the island remains in the EU, and could be a useful gateway. They also offer a programme of FDI assistance, grants and trade incentives.