Partner Article

UK should 'push' marine sector

The North East will host a special event for the maritime industries as part of World Trade Week, taking place this week.

On Monday UK Trade & Investment held an industry reception to mark the start of a series of marine sector events which will include a special Maritime Industries event at Port of Tyne, South Shields, on Thursday.

The event in South Shields will provide an opportunity for UK companies to learn about maritime opportunities in high growth markets around the world, and to get one-on-one advice on market entry and expansion from more than 20 maritime specialists from the Middle East, Europe, Asia and the US.

Minister for Trade and Investment, Lord Davies of Abersoch, said: “The UK maritime industry is vital to the economy both in terms wealth and job creation. According to a recent study by Marine SouthEast, the industry is worth an estimated £62billion and industry sustains around 630,000 jobs in the UK.

“More than 95% of the UK’s international trade is handled through seaports. And ports themselves are often drivers of local economic activity.

“Recent research has estimated that the global maritime market is worth around £2 trillion, with the UK share estimated at around three per cent.

“As an island nation with a long and proud maritime tradition we have the potential, but more importantly the expertise, to take an even larger share of this huge market.”

The Newcastle Maritime Industries Roadshow will be held at the Port of Tyne on Thursday 11 June. For more details visit www.maritimeroadshow.com.

This was posted in Bdaily's Members' News section by Ruth Mitchell .