SDI urges Scottish businesses to look Far East for success

Scottish Development International (SDI) will tomorrow issue a call for more Scottish companies to do business in Asia, at an Asia Task Force event to be held at Murrayfield tomorrow.

The ‘Doing Business in Asia’ event, led by SDI in partnership with UK Trade and Investment (UKTI), is designed to encourage more of Scotland’s globally ambitious companies to trade in Far East markets.

The one-day event is primarily aimed at small to medium sized businesses who see trading in Asia as a huge challenge, and will focus on how companies can successfully address the perceived barriers which might prevent them from taking advantages of the vast opportunities for trade and development across Asia.

Delegates will have the opportunity to hear from speakers with first-hand experience in doing business in Asia, learn from a wide range of business leaders on international growth and make those crucial face-to-face introductions.

Chief executive of Scottish Development International, Anne MacColl, believes that the Asian market is one that Scottish businesses simply cannot afford to ignore:

“There are huge opportunities across key industries in Asia as the region’s economies are helping to drive the global economic recovery. With evidence that the Asian economy is estimated to grow by 50% in the next five years, that UK-China bilateral trade in goods reached US$13.81bn from January to April 2010 (up 30%) and that Vietnam, Malaysia, Singapore, Indonesia and the Philippines are among the top 10 global emerging markets, Scotland cannot afford to overlook the potential opportunities.

“The fact is that domestic demand remains weak, and overseas competitors continue to import into Scotland. So the real risk for Scottish companies may lie not in taking the plunge and exploring new markets in the Far East, but in failing to seek out new international markets. Scottish companies must recognise the changes that are happening in the global marketplace, where the opportunities will exist in the future and ensure they are able to respond to what’s happening internationally.

“Asian leaders are already putting in place strategies to make it faster and easier to do business in the region and unless Scottish companies act now to develop relationships and partnerships in Asia, they risk being left behind. In economic terms if we want to migrate to a higher growth and higher productivity economy we have to commit to developing an international mindset which raises our international aspirations for Scottish businesses and industry.”

The event will also offer market clinics on thirteen different Asian markets including China, India, Malaysia, Japan, Taiwan, Indonesia, Singapore, Thailand, Vietnam, the Philippines, South Korea, Southern China and Hong Kong.

These clinics will feature senior trade diplomats and are designed to give Scottish businesses accurate, detailed information from people who have had direct experience in Far East markets. There are three clinics on offer: How to manage risk and cash flow when trading with Asia, delivered by RBS; Common legal issues when doing business in Asia and How SDI and UKTI can help: delivered by SDI.

All of the clinics will be attended by experts in the relevant markets including Brian Gallagher, director of trade and investment in China, Barry Lowen, director of trade and investment in India, Derek Page, director of trade and investment in the Philippines and Bradley Jones, director of trade and investment in Thailand.

Key speakers at the event include Robin Barnett, managing director, UKTI Business Group, Anne MacColl, chief executive, SDI and Russ Grazier, regional director, Global Transaction Services UK, RBS.

Robin Barnett, managing director of Sectors Group, at UK Trade & Investment said: "The defining economic force of the next few years will be Asia. Countries are developing rapidly and have a growing middle class with a high level of spending power.

"This event will help companies the advice and contacts they need to start to plan their business growth in the Far East. Nowhere else will company executives be able to meet so many trade experts with intimate knowledge of each market.

"People who visit the Doing Business in Asia event will be taking the first step to doing business successfully in the region."

UK Trade & Investment, the government’s international business development department is working in partnership with RBS to promote a series of ‘Doing Business in Asia’ events to UK companies.

To book a place or for more information visit http://www.sdi.co.uk/Events/2011-02-09-asia-task-force-2011.aspx or call 0141 228 2828.