“This is very welcome news for UK business. The well-documented potential in the likes of China, India and Brazil for UK products and services is matched and indeed exceeded in parts of Africa and ASEAN, where huge rising middle class populations require infrastructure, technology and consumer goods in huge quantities, and quickly.
“UK Export Finance offers credit guarantees and other services that give UK exporters of all sizes a wonderful opportunity to seize the moment while minimising financial risks. However, to date, it has been largely unrecognised and certainly under-utilised by UK companies. Hopefully today’s announcement will encourage exporters to grasp the nettle further, while maintaining the UK’s position as a place for foreign investment.
“It is also encouraging news that UKTI is receiving increased funding to expand on the excellent foundations for growth it has established to date.”
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