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Further export support funding to benefit North West

The Regional Director for UKTI North West has welcomed the Chancellor’s extra funding for supporting overseas trade.

In a speech to the UKTI “Export Champions” for the North West, Clive Drinkwater said the increase of £140m over two years would be used to provide more trade advisers and funding to SMEs.

Mr Drinkwater said: “Exports in the North West were £6.3 billion last quarter, up almost £1 billion since the previous quarter, and we are still experiencing growth in key markets. Exports to China are up by 12% compared to last year, India up 4% and Brazil up 2%. Exports to the USA from the North West are nearly £1.4 billion, making this our best quarter in America since 2010, so despite the current economic climate, we are definitely bouncing back.

“The extra funding for UKTI announced in the Chancellor’s statement – an increase of £140 million over two years - reflects how important international trade is to the Government. Exports are vital for economic growth and we are delighted with the increased UKTI funding which will provide a further boost to help local businesses and to facilitate economic growth in the region.

“As a result we will be able to increase the number of International Trade Advisers and offer additional funds to SMEs with high growth potential, enabling more companies to successfully export. In addition £1.5 billion has been made available to provide loans to overseas buyers purchasing British goods.

“In the North West our Export Champions are an integral part of our strategy, which is why I am delighted to have persuaded almost 30 of our best exporting firms to join us in the drive to increase exports.”

Almost 30 Export Champions have been recruited by UKTI in the North West, and Mr Drinkwater has ambitions to create 1000 new exporters for the region.

This was posted in Bdaily's Members' News section by Tom Keighley .