Commenting on the Chancellor’s announcement that the Government’s credit agency, UK Export Finance, will provide individual loans of up to £50m to help international buyers access British goods and expertise, Richard Reid, Chairman of KPMG’s High Growth Markets practice in the UK, said:
“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."
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