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The Rt. Hon. Baroness Symons of Vernham DeanBG Group Roadshow |
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Ladies and gentlemen. I am delighted to be here at today's BG Group Roadshow. I am glad to see so many here. Perhaps let me start by congratulating BG Group for their cooperation in holding these three roadshow events. Those that took place last week in Aberdeen and Norwich, and today's event in London. The knowledge that will be shared as a result will, I'm sure, provide those of you taking part with a real advantage in growing your international business. Our partnership with BG Group in running these roadshows is representative of the growing cooperation between major industry and Government in helping Small and Medium Enterprises tap into export opportunities. Much of the credit for this should go to BG Group. Credit should also go to other major companies such as BP and Shell with whom we have held similar events, and to the members of the Oil and Gas Advisory Panel who have worked with Trade Partners UK in developing the strategy that has led to the running of these events. I would like to say a few words about international trade. International trade is vital for the UK economy. The UK is the fifth largest exporter of goods and services and the second largest exporter of services. British companies earn a staggering 270 billion pounds per year from selling their products and services overseas - more than 4,000 pounds a year for every man, woman and child in the UK or 30% of our GDP. These figures are impressive. However, we must continue to build on this success. Strengthening our trade links; Promoting the benefits of reciprocal trade liberalisation; Opening up new markets overseas; and reducing barriers to trade. All these are vital if we are to sustain and grow our trading capacity. Internationally, with our EU partners and through the World Trade Organisation, we are working hard to ensure that the free trade agenda provides greater prosperity and increased opportunity for all. It is in our interests to liberalise the global trading community. That is clearly the case but it is also very much in the interests of developing countries around the world too. We will all be looking for some concrete results at the next Ministerial Conference in Cancun in September 2003. We have to keep the work programme approved at Doha on track and that is going to be a very demanding schedule. We have made some useful progress – at a ministerial meeting in Sydney two weeks ago, and we are now preparing for the next such meeting in Japan in February. The new Director General of the WTO Dr Supachai, who I met again in London yesterday, is an energetic and committed advocate of securing the benefits of freer and fairer trade for all members of the WTO. The figures speak for themselves. Halving protectionist barriers to trade worldwide could boost developing country incomes by 150 billion dollars a year, three times the amount currently given in aid to those very same countries. Trade has the potential to lift people out of poverty. According to the World Bank substantial trade liberalisation could lift an additional 300 million people out of poverty by 2015. This is the human face of globalisation. But it is a globalisation that is to be managed for the benefit of all countries at very different stages in their economic development. Of course there will be some difficult decisions - and late night negotiations ahead. We must be prepared to work hard; to argue our case – here – in Europe and further afield; to take tough decisions and to ensure that the promises made at Doha are kept. Europe will not be an exception. Europe can't just keep reiterating the rhetoric on free markets if we are not prepared to deliver where it really counts and that means reform of the Common Agricultural Policy. If we are to honour the commitments we gave at Doha we cannot continue with a system of subsidies that gives 2 dollars a day to every cow in Europe, but leaves one thousand, two hundred million men, women and children around the world living on half that amount. So we in Europe must continue to pressure for the Mid Term Review proposals of the CAP to be carried forward. British Ministers will be doing so. We believe it is vitally important that momentum is maintained. It is essential that all WTO members continue to work towards a successful outcome at Cancun. Our overseas trade links have never been more important than in present circumstances. The terrorist attacks in the USA last year undoubtedly had a real impact on business confidence. Fewer people were prepared to travel, and understandably security became an overriding concern. Events in Bali and most recently in Moscow also took their toll. But there are plenty of good prospects for British business to pursue if it is ready and able to adapt to new opportunities: Specifically in Latin America – Brazil in particular; the Caspian Region and Trinidad. Our work on assessing global business prospects, using our unrivalled network of overseas commercial posts, close links with business advisory groups, and cooperation with UK companies such as BG Group, shows that much business is continuing as normal. I am really delighted that Trade Partners and BG Group have got together to discuss what is happening already and what more can be done. I hope that today's event will provide potential suppliers within the oil and gas related industry information on how best to compete for overseas contracts and explain how BG's own contracting and purchasing processes operate. I am also grateful that Bechtel is here to give focussed advice on procurement processes. Exports make a huge contribution to our wealth and prosperity. Britain is a nation built on trade. But the fact is that businesses which choose not to compete overseas – who say that it is not worth investing in the skills needed to do so – forget one vital thing. Businesses who trade overseas do better for themselves at home, for their employees and for the UK economy. For Britain to have a healthy and balanced economy we need a successful trade and investment community. It is an issue right across government. Prosperity for the country is vital not just for our private sector but for the public sector to generate the wealth we need to continue to improve our public services, schools, hospitals and transport infrastructure. Our job in Government, through the work of the Foreign and Commonwealth Office, the Department for Trade and Industry, Trade Partners UK and Invest UK, is to support that community and to encourage more to join it. But the key to a successful and healthy trade and investment community lies with you - through your drive, determination and innovation. Working together in partnership, we can meet and surpass the challenges of today's and tomorrow's global economy. |
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Other speeches by The Rt. Hon. Baroness Symons of Vernham Dean
(the following are available from the archive) |
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