The Far East is providing an export sanctuary from the troubled Eurozone for Cambridge and other UK exporters.Forty per cent of UK exporters reported an increase in overseas sales in the first quarter of 2012, according to Chris Kubicki, chair of the Cambridgeshire Chambers of Commerce International Sector.
Kubicki said Asia was proving an attractive proposition for existing and new exporters.
After hosting a Hong Kong delegation to Cambridge, Kubicki said: “More British businesses are beginning to look overseas in order to grow, which is proving to be a lucrative strategy with 40 per cent of UK exporters reporting an increase in export sales in the last quarter.
“The Far East would appear to be the export destination of choice, with many markets showing healthy signs of growth. China, a huge potential destination, has an economy that is expected to grow by 8.4 per cent in 2012.
“By exploring the markets of Hong Kong, British businesses can take advantage of the strong historical and cultural links, and find an environment already attuned to doing business in the UK. By utilising the already strong historic ties, businesses can use Hong Kong as a springboard for entering into the thriving South Asian economies.”
At a recent Hong Kong themed event, Cambridgeshire Chambers of Commerce welcomed students from the MBA programme at Hong Kong University. The seminar provided an opportunity for the students and businesses to discuss developments in the area and the prospects for local companies.
The event, organised by the Chambers’ International Sector, included a panel of guest speakers to cover the many different aspects of trade in Hong Kong, including David Marsden from the Hong Kong Trade Development Council and Bjorn Segerblom from the Hong Kong Science and Technology Park.
The event was sponsored by Streets Chartered Accountants and NatWest.
• PHOTOGRAPH SHOWS: MBA students from Hong Kong University