North East Firms Urged To Tap Into Export Growth In Thailand

North East firms are being urged to tap into export growth in Thailand by learning first-hand about the business opportunities available.

As part of its programme of Market Visits, UK Trade & Investment (UKTI) will be taking a delegation from the region to Thailand between 24 and 31 March 2012, to enable companies to find out more about the market and meet potential customers.

Thailand has been designated one of UKTI’s High Growth Markets and UK exports of goods and services to Thailand topped £1.32 billion in 2009. Exports from the North East to Thailand have more than doubled in recent years from £12.6m in 2007 to £28.7m in the 12 months up to the end of June 2011.

Geoff Charlesworth, one of UKTI’s International Trade Advisers, who will accompany the delegation, said:

“The newly-elected Thai Government plans to spend around £27 billion on projects in transport, public health, water supply development, education and training and housing so there are a host of opportunities.

“Our priority sectors are advanced engineering, agriculture, education and training, environment, food and drink, railways and power but there are also opportunities in automotive sector, healthcare and pharmaceuticals, petrochemicals, renewable energy and tourism, sport and leisure.”

He added: “Smaller companies are often reluctant to visit new export markets. This may be a fear of the unknown, a lack of knowledge of the business opportunities in the market and an uncertainty as to who are the buyers or sellers and who the competition in the market is.

“Overseas market visits are designed to overcome these fears and are a great way for businesses to do some in-depth research and meet potential customers and partners. Eligible SMEs will receive a financial contribution towards the cost of flights and accommodation, as well as receiving the full support of an International Trade Adviser prior to, during and after the visit.

“Places on the Market Visit must be booked and numbers are limited, so if a company is interested in taking part, I’d urge them to get in touch as soon as possible. “

For more information, or to find out about the wide range of support services available through UK Trade & Investment , call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk. You can also follow on Twitter at twitter.com/UKTINorthEast.

ENDS

Notes to Editors

UK Trade & Investment (UKTI) is the Government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit www.ukti.gov.ukor telephone +44 (0)20 7215 8000.

For latest press releases, visit the online newsroom at www.ukti.gov.uk/media. You can also keep in touch with developments at UKTI through www.blog.ukti.gov.uk, www.twitter.com/uktiand www.flickr.com/photos/tags/ukti.

Companies in the North East can find out more about the services available through UK Trade & Investment by contacting the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk

Market Visits - each year an extensive programme of market visits is organised by UK Trade & Investment offering companies the chance to visit a market as part of a delegation with the support of an experienced International Trade Adviser (ITA). Includes briefings with overseas staff both before and during the visit and comprehensive support from the ITA before, during and after the visit.

European Regional Development Fund 2007-13 International trade support services in the North East are financed in part by the European Union’s ERDF Competitiveness programme 2007-13, securing £5,999,216 of ERDF investment through the Department for Communities and Local Government. The ERDF Competitiveness programme 2007-13 is investing over £250m in North East England to support innovation, enterprise and business support across the region . The ERDF Competitiveness programme 2007-13 for North East England is managed by the Department for Communities and Local Government on behalf of the European Commission and regional partners. ERDF 2007-13 is focusing on:

Innovation – promoting science technology and innovation in businesses and institutions across the region.

Enterprise and business support – encouraging more people to start up in business, particularly those in disadvantaged areas, and helping established businesses develop, grow and innovate.

More than £300m ERDF investment is available for the region from 2007-13.  ERDF investment is limited to 50% of total eligible cost and must be matched by other public and private sources.  For every pound of ERDF investment, regional partners lever in another pound for the key priorities of innovation, enterprise and business support.

The programme is underpinned by the three important cross cutting themes of environmental sustainability, equality of opportunity and sustainable communities.