International trade programme reaps regional benefits
AN INTERNATIONAL trade programme operating in the North West is returning over £20 for every £1 invested, according to a new report.
The North West Regional Development Agency (NWDA) has invested £2.92m in the International Trade Programme over the past two years.
It has also helped create 458 jobs while safeguarding a further 1,867 roles.
An independent report produced by DTZ has found that for every £1 put in, the programme has generated £20.57.
This Gross Value Added (GVA) compares favourably against national benchmark figures.
The evaluation report has also shown that the NWDA investment has generated £390m in ‘additional economic value’ to the region between 2007 and 2009.
Steven Broomhead, chief executive of the NWDA, said: “I am delighted that the report commends our international trade activity, in-particular the added value the NWDA is bringing to the table.
“The return on investment and value for money of this programme is outstanding and an excellent example of how the NWDA is really making a difference to businesses in the Northwest.
“Our programme is helping the North West maintain its position as one of the leading hi-tech exporters in Europe.
“The NWDA has also invested significantly in Liverpool’s attendance to Shanghai Expo this year, making it possible for the City to attend as the UK’s only city to be represented.
“We are already seeing some potentially interesting trade and investment stories coming out of our attendance in Shanghai and we estimate that our investment will help to deliver up to £50m in benefits to Liverpool and the North West over the next decade.”
The NWDA funding for the programme is in addition to the core funding provided by UKTI to deliver ‘internationalisation’ support in the North West.
The NWDA has invested in creating roles for another ten International Trade Advisors to work with businesses in priority sectors to help them trade internationally.
Additionally, the funding has been used to establish a series of missions, exhibitions and support activities to help businesses access new international markets as well as specific support to help companies in key areas of supply chain, licensing and joint ventures.
It has also funded a ‘meet the buyer’ programme which is a series of events to match potential exporters with international buyers.
