International Trade: ‘Fantastic’ opportunity offered by BRIC

THE BRIC nations offer a fantastic opportunity for businesses across Yorkshire but those planning to export and invest should take advice, experts have warned.

Brazil, Russia, India and China have been identified as locations which are all at a similar stage of newly advanced economic development.

In-depth analysis on Yorkshire companies trading overseas and on other key issues regarding international trade, including markets to watch, can be read in TheBusinessDesk.com’s major new supplement, produced in association with Cobbetts and Grant Thornton, and which is available to download.

Mark Green, a partner at law firm Cobbetts who specialises in overseas trade, said that different nations present different opportunities – and pitfalls.

Mr Green said: “Cobbetts has collaboration agreements in place with law firms based in all the BRIC nations to ensure that the advice it provides its clients is consistently the best.

“One thing that binds them together is the key role played by natural resources in their burgeoning economies. The BRIC nations represent higher risk than other developed countries but there is also the potential for them to yield higher returns.”

Andy Wood, partner at business and financial advisors Grant Thornton, said: “Yorkshire companies need to do their homework about whether there is going to be a market for their product.

“They then need to decide on an appropriate investment structure, for example agents, joint venture or establishing a greenfield site.

“It’s at this point that they really do need to seek the specialist advice of business advisors and lawyers who are experienced in overseas business.”