Looking East fortradingpartners
Feb 26 2008 by Sue Scott, Evening Gazette
KNOW your market, do your research and explore your opportunities are all vital factors when running a successful business.
These same basic principles will provide the foundations to help North-east businesses when it comes to establishing trade links with China and the Far East. And I see huge potential in international trade links and partnerships.
As the economic boom in the Far East continues to soar, UK Trade & Investment is committed to providing support and assistance to our regional businesses and to show them that partnerships can be a very positive step for us all.
In November a delegation, including 20 regional businesses, visited Shanghai. It provided an opportunity for them to seek out new partners, understand the Chinese work ethic and overcome any fears that would prevent successful future business relationships. These businesses spanned all sectors from medical healthcare and education to engineering and retail.
The trip was organised in support of the region’s aspirations to build on the recently established trade agreement between the Shanghai Federation of Industry & Commerce (SFIC) and the North East Chamber of Commerce (NECC) - the first with a UK Chamber of Commerce.
In the past there has been mixed opinion over trade links with China, as many feared this would result in their own businesses being quashed by low cost manufacturing, but this doesn’t have to be the case. The key to success is to research your market, look at the competition and seek out initial opportunities within your own sector.
For those looking to do just that, UK Trade & Investment has organised an event discussing how to set up a presence in China, on 19 March at Lumley Castle - tickets £15 - and will be hosting a market visit to China, visiting Zhengzhou and Wuhan, 26 May-5 June.
For more information about these events and the wide range of support available through UK Trade & Investment call the North East International Trade Hotline on 0845 05 05 054 or email enquiries@ukti.rito.co.uk
See next week’s nebusiness vor an export focus on China
