Overseas Opportunities in High Growth Markets
Please note this is a practical event aimed at North East based businesses interested in trading internationally or wanting to learn more about the service Department for International Trade North East (formerly UKTI North East) provides.
By identifying and prioritising certain overseas markets, exporters of products and services can develop a more effective international strategy. During this interactive masterclass we will look at the countries exporters have traditionally targeted and focus on the new market opportunities for future development.
We will discuss and answer these key questions:
- Where are the best future opportunities?
- Which key markets should you prioritise?
- When should you target selected markets?
- Why is it important to develop an export strategy?
- How should you approach specific markets and regions?
- What support and advice is available?
BRICs, CIVETS or something else?
In 2001 when Jim O’Neill was at Goldman Sachs he coined the term BRIC (Brazil, Russia, India and China),to describe the relationship between the world’s leading economies and the larger emerging economies. Over 10 years later there were new acronyms being championed so we heard the terms CIVTS (Colombia, Indonesia, Egypt, Turkey and South Africa) and MINT (Mexico, Indonesia, Nigeria, Turkey).
Economists are always forecasting the next group of high growth and high potential markets that we should be considering. The defining factors are predicting countries with high growth rates, young populations and great potential to be major economies in the future.
Recently, a leading economist talked about the “tale of two worlds”, the advanced versus the emerging and developing economies. In the last year we have seen a significant mile stone where for the first time the second group account for just over 50% of world output.
Over the next three years small emerging economies are forecast to outpace the powerhouses of China and India in terms of economic growth. We will look at the world’s fastest growing economies – where are they and do they represent the real opportunities for UK exporters.
Durham County Cricket Club