Aug. 26, 2014
International Festival for Business 2014
-- The UK is on a quest to double its exports revenue to £1 trillion by 2020. Merseyside in the North-West was placed at the heart of the Government’s strategy, with the very first edition of the International Festival for Businesses having been organized in Liverpool, the biggest trade fair in the UK in the last 60 years and the biggest business event globally in 2014.
The IFB lasted for 2 months, welcomed more than 75,000 delegates from 88 different countries at 424 different events and ended last week. Focusing mainly on trade and investment opportunities for British SMEs, one of the festival’s focus targets was the CEE markets. UK exports to the 9 countries of the CEE (Austria, Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania, Slovakia and Slovenia) have reached £16 billion and the UK Government plans to double the amount by 2020. The CEE is considered the region with the highest rapid growth potential over the next 5 years and opportunities were identified for advanced engineering, energy and life sciences.
Nicholas Hammond, Senior Partner of HBA and a member of the Board of Directors of the British Romanian Chamber of Commerce has joined other CEE professionals in Liverpool in identifying routes to the CEE markets for British businesses.
“There is currently a huge development program developed by the UK Government to promote British businesses overseas and they are investing a lot of money in helping these companies find the correct partners to grow their business and enter new markets. There is a question of matching the demand and supply and Romania ranks high in exporters’ interest in such sectors as agriculture, infrastructure and energy but also advanced engineering and manufacturing.”
said Nicolas Hammond.