Partner Article

UKTI highlights Chinese opportunities

BUSINESS and Enterprise Minister Mark Prisk will visit China and Hong Kong this week to strengthen bilateral trade relations and to see for himself the many opportunities that exist for UK companies in the world’s second largest economy.

The visit, which is organised by UK Trade & Investment (UKTI), will demonstrate the Coalition Government’s commitment to engage with overseas business partners.

Whilst in Shanghai, Beijing and Hong Kong, Minister Prisk will meet Government ministers, UK companies that are successfully trading in China and Hong Kong, and businesses leaders and investors.

One North East company already successfully exporting to China includes Mineral & Chemical Services, of Wallsend, which specialises in processed minerals and chemical products which cater for a wide range of industries from aerospace, refractory, paints and surface coatings.

The company took part in a UKTI Market Visit to China earlier this year and as a result of the visit, secured an order worth more than $55,000. It is now looking to appoint a representative in Shanghai and expects total sales to this Chinese customer to be around $400,000 over the next 12 months. The company also plans to target ten other quality customers of a similar size in China.

Ahead of his visit, Minister Mark Prisk said: “China and Hong Kong offer countless opportunities for UK companies of all sizes that want to take that next crucial step and extend their business overseas. China’s economy is growing rapidly and there has never been a better time to engage with this market.

“International trade is at the heart of the UK’s economy and I look forward to strengthening our already close business ties with China.”

China provides opportunities for UK firms across a wide range of sectors including financial services, ICT, creative industries and advanced engineering.

This was posted in Bdaily's Members' News section by Ruth Mitchell .