UKTI urges firms to explore emerging European markets

PAUL Noon, UKTI West Midlands regional director, is urging firms to explore the option of exporting goods to emerging countries in Europe.

He suggests the opportunities in this “dynamic growth market” are more lucrative than ever.

Emerging Europe ranges from Austria to Slovakia and includes the Czech Republic, Bulgaria, Hungary, Poland, Slovenia and Romania. It has a combined population of more than 100m people, a combined GDP in excess of £1trillion and annual average growth rates that in recent years have far exceeded most other European countries.

Noon said West Midlands progress in these markets has been good – exports from this region to Eastern and Central European in 2013 were worth more than £1bn, an increase of 18% over the last five years, while in the first two quarters of this year Poland was the West Midland’s 16th largest export market.

But he suggests there is still work to be done.

“As a nation we still lag behind our rivals and continue to underestimate the sheer strength of demand for British products that is out there,” he said.

“This is why UKTI nationally aims to double trade with Central and Eastern Europe again by 2020 to £60bn.

“To achieve this, we are already ramping up support on the ground for British firms. We have established a British Business Centre in Poland, which opened last year, and business centres will also be opening in the Czech Republic, Romania and Slovenia.”

Tomorrow, as part of Export Week, UKTI West Midlands is holding an emerging Europe event in partnership with Enterprise Europe Network.

The event is being held from 8:30am to 2pm at the Ricoh Arena, Coventry.