Fylde manufacturing businesses should not overlook the growing trade opportunities on the African continent.
John Chesworth, managing director at commercial law firm Harrison Drury, was speaking after attending a global business conference in South Africa.
The firm attended the conference, in Johannesburg, as part of its membership of The Alliott Group, an international alliance of legal, accounting and professional firms.
At the conference, members received an economic update on South Africa, and a guide on doing business in the country, which provided an overview of its major business centres.
John, pictured, said: “South Africa is a key trade partner with the UK, but it still has a lot of untapped potential for British firms due to new emerging markets, its stability as a developed country and cultural similarities with the UK.
“We advise a number of manufacturing and engineering businesses on the legal aspects of exporting, and this was a great opportunity for us to further widen our international knowledge, and hear first-hand about some of the opportunities in South Africa and neighbouring countries.”
Following the conference in November, Harrison Drury also attended an Alliott Group event in London, organised by the network’s Spanish members, which explored trade and investment opportunities in Spain.
According to UKTI, the UK is in South Africa’s ‘premier league’ of trading partners, with an annual bilateral relationship over £9.6bn. UKTI is focusing on high value and infrastructure opportunities – part of the South African Government’s agenda.
These are worth about £290bn over the next 15 years. and include large high-end projects, such as construction and infrastructure, plus collaboration in technology.