SDI cautions Scottish companies not to be left behind as Asia beckons
Scottish Development International (SDI), working in partnership with UKTI, is urging Scottish companies to take full advantage of the support available regarding doing business in Asia, in the run up to the first ever Asia Task Force meeting to be held in Scotland.
The Doing Business in Asia event, which will be held at Murrayfield on Wednesday 2 December, will provide information, support and advice to companies looking to win business in Asia.
Jim Mather, Minister for Enterprise, Energy and Tourism will speak at the event, which will also feature market clinics on eleven different Asian markets, including China, India, Malaysia, Hong Kong, Singapore, Thailand, Taiwan and the Philippines.
Interest in the event has been particularly high, and the number of registrations has already exceeded expectations, illustrating the fact that Scottish companies are beginning to recognise the opportunities presented by the Asian markets. As a result, capacity at the event has been increased and there are still a limited number of places available (see below for registration details).
However, David Smith, interim chief executive of Scottish Development International and chair of the Asia Task Force event, believes that the Asian market is one which Scottish companies simply can’t afford to ignore.
He said: “Even before the recession, the economies of some Asian countries were growing at a much faster rate than that of the UK, US, and the Eurozone, and the global recession has led to an even greater focus on countries such as China and India as economic powerhouses.
“And, as the world starts to emerge from the global recession, Scottish companies really need to keep up, because there is an abundance of opportunity across key industries in Asia. These Scottish companies must recognise the changes that are happening in the marketplace, where the opportunities will exist in the future and ensure that they are able to respond to what’s happening internationally.
“Asian leaders are already taking concrete steps to make it faster and easier to do business in the region, and unless Scottish companies act now to forge relationships and partnerships in Asia, they risk being left behind.”
Enterprise Minister Jim Mather added: “In challenging economic circumstances, it is vital that Scotland’s economy and Scottish companies are as competitive as possible on a global scale.
“There are undoubtedly opportunities for Scotland in Asian markets, particularly given our real strengths in areas like energy, life sciences and at a time when the Scottish Government is leading the world in moves towards developing a low carbon economy.
“That is a message the Scottish Government has already taken to Asia – for example when my colleague John Swinney visited Japan in the summer to strengthen business links.
“As we work with Scottish Development International to create business for Scotland in the region, I would encourage Scottish companies to take advantage of events such as ‘Doing Business in Asia’, which is an excellent opportunity to hear more about internationalising in an Asian context.”
Chief executive of UK Trade & Investment Sir Andrew Cahn said:
"There are huge opportunities for Scottish firms in Asia. The region's economies are helping to drive the global economic recovery. The UK is the sixth biggest manufacturer in the world. We have global leaders in areas such as energy, low carbon, advanced engineering, construction, information technology and life sciences. Scottish companies can help Asian economies to achieve their full potential.
"It can be daunting to take the first steps to explore new markets, but Scottish firms with the help of SDI and UKTI have access to experts in almost 100 overseas markets with a track record of providing the real help that can turn a great business idea into concrete sales."
Asia is a key region for SDI and within the last financial year, the organisation supported more than 80 Scottish companies in their internationalisation efforts within China alone – an increase of more than 40 per cent on the previous year.
Recent company successes include Aberdeen Asset Management and Martin Currie developing links with Chinese financial institutions and coach manufacturer Alexander Dennis becoming a market leader in Hong Kong. Other Scottish companies already very active in Asia include Cairn, Production Services Networks (PSN), Standard Life, Aggreko, Clintec and Clyde Blowers.
For more information about the Doing Business in Asia event, visit: http://www.sdi.co.uk/Invest/News%20and%20Events/Events/ukti-doing-business-asia-dec-2009.aspx