Trade Promotion

Trade and Industry written question – answered on 10th December 2002.

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Photo of Gavin Strang Gavin Strang Labour, Edinburgh East and Musselburgh

To ask the Secretary of State for Trade and Industry what facilities exist for the promotion of trade between the UK, Australia, Canada and New Zealand; which Australian companies have over #10 million invested in the UK; and which UK companies have over #10 million invested in Australia.

Photo of Nigel Griffiths Nigel Griffiths Parliamentary Under-Secretary, Department of Trade and Industry

Trade Partners UK (TPUK) organises a wide range of activities designed to promote trade between the UK and Australia, Canada and New Zealand. These include assisting British companies through schemes like the Outward Mission Support Scheme, the Inward Mission Support Scheme, and the Support for Exhibitions and Seminars Abroad Scheme. Much of this assistance is aimed at helping companies to prepare for and enter these overseas markets for the first time.

An example of this is Export Canada. This is specifically aimed at SMEs that are new or inexperienced exporters; it is a mentoring programme which outlines the current state of the market for companies' products/services, and offers advice on marketing in North America and exhibiting at trade fairs.

The TPUK network delivers services coordinated by British Trade International, the organisation set up in May 1999 to take lead responsibility within Government for trade development and promotion.

The DTI has been notified of the following Australian companies that have indicated that they would invest #10 million or more over a three year period in the UK. These are AMP, Amcor Packaging (Europe) Ltd., Colonial Ltd., Hamilton Oil Company Ltd., Lend Lease Corporation Ltd., QBE Insurance Group Ltd., Medical Imaging Australia Ltd., Sims Mclntyre Metals Ltd., Sky Television Plc, Spotless Group Ltd., and Wine Planet.

Numerous British companies have significant investment in Australia. However the DTI does not collate such information and no comprehensive record of investment by UK companies in Australia is held centrally. According to figures from the Office of National Statistics, the book value of UK investment in Australia at the end of 2000 was #10 billion.

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