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Mid-sized firms head to Turkey

A trade mission led by Trade and Investment Minister, Lord Green will visit Turkey this week, focusing on mid-sized businesses and opportunities in the country.

Lord Green will be joined by John Cridland, director-general of the CBI, as the mission takes 30 UK mid-sized businesses on the two-day intensive visit where they will meet key figures from Turkish Government and the business community.

Lord Green said: “This is an exciting mission, the first of its kind, that brings together the opportunity offered by Turkey, one of the fastest growing economies in the world, and the export potential of the UK’s mid-sized firms.

“The Government has set a clear target to get another 100,000 UK firms exporting as a key part of driving economic recovery.

“Direct engagement with key figures from the government and business community will help break down barriers and foster understanding that will lay strong foundations for future trade and investment.”

Mr Cridland added: “This trade mission breaks new ground, as the first one designed specifically for ambitious mid-sized businesses.

“If we are to achieve the Government’s ambition of doubling our annual exports by 2020 to £1 trillion, we must look beyond the BRIC countries to other successful, high-growth markets such as Turkey.

“Turkey has a dynamic, growing economy, with an increasingly aspirant middle class keen to buy the sorts of goods and services we excel at, such as construction, education, and high-value manufacturing.”

The UK firms taking part include Amino Technologies, Black Country Metals and Brompton Bicycles.

It forms part of the focus on improving the performance of the UK’s mid-sized firms, as outlined by the Chancellor in the Budget.

The CBI had described them as a “forgotten army” of businesses, representing 0.2% of all UK firms, but accounting for one fifth of private sector output and employment.

Turkey is seen as a key emerging market, and is already an important partner for British businesses with trade currently worth more than £9bn.

Major British companies like BP, Tesco, Vodafone, and HSBC already have a strong presence in Turkey, but there is scope to strengthen this relationship further.

This was posted in Bdaily's Members' News section by Tom Keighley .