Exporters should look to SE Asia – diplomat

BRITISH companies are overlooking the potential of South East Asia in their rush to do business with China.

The regional director of the government’s overseas trade body, UK Trade & Investment, said firms were missing out on opportunities in countries such as Malaysia and Indonesia.

Speaking ahead of an event to push trade with the region, as part of the Foreign and Common Wealth Office’s Leadership Week, Clive Drinkwater said: “UK export sales to the whole of South East Asia are double our exports to China, but a lot of people are flying over that area, and it’s an area where there are good business practices and English is spoken.”

Boyd McCleary, British High Commissioner in Kuala Lumpur, Malaysia, said the country has attracted significant levels of investment from UK companies such as Shell.

But the country is also a target for firms involved in ICT, chemicals, aerospace and engineering.

He said: “British companies get a lot of support from the Malyasian government and it set up a taskforce two years ago to identify obstacles to foreign direct investment.”

Martin Hatfull, British Ambassador to Indonesia, who was also at the event, said the UK was the fourth largest investor in the country, but lagged behind France and Germany, particularly in terms of exports.

“Indonesia is a very big and growing market and the UK has been under-represented. Companies are doing well but Indonesia is not well enough known.

“It’s the fourth largest country in the world with 240 million people and a G20 economy. Even in the current economic climate significant growth is predicted in 2009.”