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UK firms advised to drop misconceptions about trade with Asia

7 July 2010
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UK firms advised to drop misconceptions about trade with AsiaCompanies in the UK should not view Asia as simply a "low-cost, low-quality" production line, but should instead explore the potential of the "lucrative and growing market".

This is the opinion expressed by the chief representative for the Confederation of British Industry (CBI) in China, Guy Dru Drury, who stated that there are "continued outdated perceptions" about the region that may hinder firms from accessing chances there.

Those in sales and operations planning may be particularly interested in his comments, which follow a study by HSBC.

According to the bank''s research, just 14 per cent of enterprises in the UK are fully aware of the opportunities for expansion offered by east Asia and the institution advised companies to factor this into their strategic thinking.

Mr Drury suggested the report is a "timely reminder to UK business that genuine opportunities still exist" for organisations with the capabilities to "internationalise their operations" and meet expanding demand in countries such as China.ADNFCR-3058-ID-19878106-ADNFCR
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