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NZ Business encouraged to attack UK market

NZ Business encouraged to attack UK market

New Zealand businesses encouraged to attack UK market by North of England Inward Investment Agency

The newly formed North of England Inward Investment Agency (NoE IIA) is marking its official launch into Australasia with visits to the New Zealand business community this week.

The NoE IIA provides assistance to companies wanting to invest in the UK. Paul Taylor, one of the agency's inward investment managers, is in Auckland today to discuss the benefits of using NoE IIA as a gateway to the UK and European marketplaces. Mr Taylor will meet with various business and industry groups that have an interest in helping their members with exports and growth.

It is believed that an increasing number of New Zealand companies are looking to develop overseas offices, manufacturing facilities or joint ventures with foreign business and academic resources in the UK.

"What we are trying to do by setting up an on-the-ground presence in Australia and New Zealand is to provide a local point of contact to help companies break into this market," says Mr Taylor.

"More than 24 new investments each quarter have located in the North of England because of our strong economy, competitive costs, available skilled workforce and excellent logistical position," he explains. "The North of England has all the benefits of a UK base with lower set up and ongoing costs and one of the highest levels of financial assistance available in mainland UK -- so it makes sense for New Zealand companies that wish to expand and explore the growth opportunities afforded by our region."

"A significant number of Australasian and global companies have established their UK headquarters in the North of England, including TNT World Wide Express, National Australia Bank, Linfox, Custom Fleet and Brambles," says Mr Taylor. "Recent re-investment from high-profile global companies such as MBNA international Bank, Procter and Gamble, General Motors and Ford, demonstrates the confidence that international business has in the region." Other companies with a North of England presence include Siemens, Samsung, Sharp, Kellogg's, Wal-Mart and Sarah Lee.

The NoE IIA is a unique agency because it is a collaborative venture combining the resources of three regional development agencies based in the North of England. This increases the agency's ability to provide both a wide range of industry knowledge and extensive on-the-ground local expertise. The three agencies are: The Northwest Development Agency, One NorthEast and Yorkshire Forward.

The North of England, at the logistical heart of the UK, has a GDP of more than NZ$373 billion, which is larger than that of 15 European countries and represents more than 21% of the UK's total GDP. Its world-class transport systems ensure fast and convenient links with the customers and suppliers in the rest of the UK and continental Europe. And with labour costs in the North of England being two thirds that of the European Union average. and an employment pool of almost seven million highly-skilled, IT literate, service-oriented and adaptable employees, the North of England represents a unique opportunity for Australian and New Zealand companies.

The NoE IIA can connect companies with clever or proven intellectual property, products, component parts or services with the existing infrastructure and expertise in specialist industry clusters that have been established in the North of England. Industry clusters such as;

*Automotive *Aviation *Bio Science *Chemicals *Defence *Digital *Electronics *Environmental Technology *Healthcare *ICT *Manufacturing *Nano Technology *Precision Engineering *Renewable Energy *Textiles *Transport

The UK is New Zealand's largest trading partner within Europe. In the last four years, New Zealand exports to the UK have increased 13% whereas imports from the UK have risen only 2%.

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