COMMENT: This is not the time to 'play safe'

Sep 3 2009 by Stewart Watkins, The Journal

AS SOME of our close European neighbours emerge from recession the temptation could be for business in this country to look inward, to batten down the hatches and focus on reliable, known markets for fear of further risk.

But by doing this, businesses are limiting their potential, not only for recovery but for continued success beyond the recession.

The UAE, despite the global slowdown still presents a wealth of business opportunities and is positioning itself to take full advantage of the improvement in global economic conditions.

Its three-year strategic plan for higher education and scientific research is developing massive science parks to rapidly diversify an economy commonly associated with oil, construction and the service industry.

The strategy is aimed to update the UAE's science and technology university education programmes to match global standards and is indicative of their attitude to promoting science in the Emirates.

This demonstrates how much more there is to the UAE than oil and gold. International companies have the opportunity to capitalise on multiple business opportunities and we need to make sure North East companies are equipped to compete for this.

An event at Ramside Hall Hotel on Wednesday, September 30 from 9.30am until 2.30pm will welcome a team of specialists from UK Trade and Investment (UKTI) based in the UAE to offer valuable insights into the trading opportunities available throughout the emirates.

The event organised by UKTI supported by the County Durham Development Company (CDDC) will particularly highlight opportunities in the following sectors: healthcare, financial and legal, water and utilities, security, ICT, transport, education and skills, oil and gas.

It will offer sessions on relationship building, the opportunities in specific sectors as well as one-to-one clinics to discuss specific requirements.

North East companies need to look beyond the recession to ensure their long-term success and to do this they need to look beyond national borders.

The opportunities to tap into the markets of the UAE are widespread and this event will provide companies with the know-how to approach them.

To register for the event please ring the hotline on: 0845 05 05 054

Stewart Watkins is managing director of the County Durham Development Company.