Isle of Man continuing to pursue global opportunities

| February 28, 2013 | 0 Comments

MINISTER for Economic Development John Shimmin MHK will be leading an Isle of Man trade delegation to China in April as part of the Department’s commitment to capitalise on the significant business opportunities that exist in the country.

The Minister commented:

‘The purpose of this visit is to attract Foreign Direct Investment into the Isle of Man and to support local firms looking to develop business with China. There will be a particular focus on trying to attract Chinese companies and entrepreneurs who are seeking to export goods to Europe, as well as more established international services such as market listings, asset management and structuring. This visit is part of an ongoing and long term commitment to developing business opportunities in that region.’

‘The Isle of Man offers a package of attractive features to these exporters and can provide a ‘one-stop shop’ for international trade given our status as an international business centre. For example, our Customs and Excise union with the UK gives our businesses the ability to manage trade very effectively throughout the European Union. When combined with other features such as a simple tax regime, excellent financial and professional services, we believe that the Isle of Man can be a cost-effective gateway into Europe for Chinese companies.’

The trade mission will visit Beijing, Guangzhou and Shanghai and include presentations to trade associations, chambers of commerce and Government agencies, plus specific Government to Government events as well as meetings with decision makers in major Chinese businesses.

The delegation travelling to China will comprise Department of Economic Development representatives, International Director, Michael Charlton and Head of Special Projects, Steven Beevers plus a number of local industry representatives from the fiduciary, legal and other sectors.

The Department of Economic Development’s International Director, Michael Charlton, said:

‘The Department has had a programme of activity in China over the past 18 months to build trusted relationships with key government and private sector contacts and to attract Foreign Direct Investment. As part of this long-term approach we have established a representative office in Shanghai, hosted a number of inbound Chinese business delegations and developed a number of significant prospects. An early example of success is a Shanghai based hi-tech manufacturer which has recently established a trading administration base on the Island.

‘Although the delegation is in an advanced stage of planning, there is still scope for additional businesses to join and we would welcome approaches from interested parties who can contribute to the success of the mission.’

Further information about the trade mission can be obtained from Steven Beevers by telephoning 01624 686400 or via email at steven.beevers@gov.im.

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Category: Economy, Finance & Business

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