A LACK of funding for export promotion activity following the winding down of Advantage West Midlands could hamper the region’s export growth, an international trade expert has warned.
Alan Durham, director of international trade at the Coventry and Warwickshire Chamber of Commerce, said the funding supplied by AWM had made a big difference to companies in such areas as ICT, transport technology, medical technology and business and financial services.
Mr Durham said the Government needed to develop a business-friendly foreign policy which was backed up with support for trade promotion in order to help firms make the most of global opportunities.
He said that for this reason, he was pleased to see the approach being taken by Prime Minister David Cameron during his current overseas trip.
“We see first hand the very real benefits that international trade has for the local, regional and UK economy,” said Mr Durham.
“We’ve seen companies grow massively simply because of the orders they have won overseas – from Europe to China. The commercial teams in our embassies and high commissions do a great job in providing information, advice and contacts – but could do more.
“So we very much welcome this very positive attitude to helping firms pick up more contracts overseas and into attracting further inward investment into the UK.”
He said that if the new Government could turn its words into actions and bolster British business abroad then that would be of significant benefit as the country looked to build a sustained economic recovery.
“There is some concern that funding for export promotion activity, currently provided by Advantage West Midlands, could be lost once RDAs are scrapped,” he said.
“This funding has made a difference, supporting companies in such areas as ICT, transport technology, medical technology, and business and financial services, to generate sales in overseas markets.
“A business friendly foreign policy needs to be backed up with support for trade promotion resource to help firms make the most of global opportunities.”
