Emerging Europe

I was back in the UK for a few days recently. I’m coordinating the work the UK’s Embassies in Central Europe do in promoting trade opportunities for British business in the region. Within Central Europe the export markets are modest by world standards.  But together they make up a market of some 100 million people. And a combined GDP of around 1 trillion Euros. That, together with the fact that these markets look set to grow much quicker than the more mature markets of Western Europe make this part of the world very attractive for British exporters.

At least it should do. But experience shows that few British businessmen are aware of the opportunities in this part of the world. There are many reasons for that. But we’d like to get Central Europe into the British business consciousness as an export destination and somewhere to look for partners to get into more difficult markets in Eastern Europe and Central Asia. And so we’ve put together a programme of events round the UK to explain these opportunities: some focusing on a particular part of the country, some on particular sectors. And I went to events in Preston (for NW England) and Guildford (for the SE) to make my contribution.

The events were packed out. Standing room only. Which gave the atmosphere a real buzz. A few of us offered overviews of the region and the largest economies in it (including Hungary’s). And then we spent the afternoons speaking one-to-one with businesses about the opportunities they might have in-region. Over the two days I participated I spoke to around 250 businesses in the open sessions and 35 one-to-one. Not all of them, of course, will come to this market and make money here. But I really believe a large proportion will. The Trade team in the Embassy are working with all those who contacted me at or after the event and I’m looking forward to seeing in 3 months or so how much real business has been generated.

I love these occasions and talking with British business. It’s one of the ways I feel I can make a real difference. Helping those firms but, indirectly, helping the UK get out of its economic troubles. And I think the Central Europe opportunity is a real winner for us. We’re calling it Emerging Europe to give a flavour of what’s going on here.

If you’re interested, take a look at the website we’ve put together.