November 28 2014 Latest news:
Shaun Lowthorpe, Business editor
Friday, June 20, 2014
Exports and overseas trade are a critical component of the government’s goal of re-balancing the UK economy.
Last week the latest UKTI figures revealed that there is an increased appetite for doing business beyond the EU with a 6.33pc rise in regional exports to the rest of the world with trade worth £11.8bn.
It is this ambition to look beyond our frontiers that underpins the EDP Business Awards International Business category.
Toby Wilson, director Grant Thornton in Norwich, which is sponsponsoring the award category said: “The most recent information on exports shows that in the first quarter of 2014 the UK had a balance of trade surplus with only three countries – USA, Ireland and UAE. The question we have to ask is whether this region is fully harnessing its strengths to help redress this balance .
“In our recent ‘Norfolk Limited’ report we found that business confidence is improving and in the context of the wider region there are many businesses that are generating significant exports – particularly in the context of the energy and distribution sectors .
“Many of the most positive messages we hear are from clients with businesses that are selling into overseas markets. While there are undoubted challenges they are also the ones that see the most potential to build the size and value of their market – building on the reputation of the region as well as supporting direct investment in people and equipment. These are the businesses that we are seeking to champion by our sponsorship of the International Business Award – as part of the EDP’s 2014 Business Awards.”
Bosses at automotive group Caterham are locked in crunch talks to determine the fate of its business in Norfolk, the EDP understands.