Positive outlook for overseas trade ahead of export event
A Shropshire shipping expert today welcomed a new report which revealed the the UK was set to increase its international business activity by 66 per cent by 2026.
Nicole Howarth, managing director of award-winning Global Freight, said the Global Connections trade forecast was an increase on the previous quarter estimates and good news for the economy.
Mrs Howarth, who was last year named as one of the top three female directors in the transport and logistics industry, said the report also revealed that imports were expected to grow faster than exports over the next five years.
Halesfield-based Global Freight, which will be at the Telford Export for Growth event on July 27 to assist SMEs in the region looking to expand their overseas trade programme, works with a range of businesses importing and exporting goods, from household names to county SMEs.
Mrs Howarth said: “Taking advantage of overseas trade can bring major benefits to businesses, especially small and medium-sized companies which are looking for new routes to market when the UK is experiencing recession.
“The trade forecast says that exports are expected to exceed imports and this is a trend we see with many of our manufacturing customers. Globalised production means the import component of exports is rising, importing some level of product can help lower costs and help companies compete in a worldwide market.”
The forecast was backed by the latest Trade Confidence Index from HSBC Commercial Banking which showed 93 per cent of UK businesses were feeling positive about the outlook for international trade volumes over the rest of 2012.
Mrs Howarth added: “We know from speaking to businesses at the last Export for Growth event in Ludlow, that there is a real desire to start selling products abroad. But smaller companies are concerned about general international trade issues such as dealing with Eurozone countries as well as specific concerns over extra costs, red-tape and customs requirements.
“One company we met that the event in April is now working with us to move shipments to Mongolia, and we're hoping to be able to offer assistance to other companies at the Telford event on Friday.”
The free to attend Export for Growth will be held at the University of Wolverhampton's Priorslee campus, starting at 8.30am. To register, email t.rowe@shropshire-chamber.co.uk
