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Get Support To Benefit from EU Enlargement
01 May 2004
From 1st May 2004, the EU became the world's largest single market with 25 states in total, representing some 455m people (75m additional from the 10 new Accession countries). To combat the increased competitive pressures, and to take advantage of new opportunities, UK businesses could benefit from the support offered by the government's UK Trade & Investment (previously known as 'Trade Partners'), says Mark Eaton Director of the MAS (South East & London), for EEF South.
The value of European subsidies and funding for the development of key regions of the UK is expected to drop following EU enlargement. However, there should be a net gain to the economy overall through increased trade opportunities. According to Patricia Hewitt, GDP could increase by £1.75bn through increased export and investment opportunities Although the low wage (and sometimes high tech) economies the 10 new Accession countries are a competitive threat to UK industry, the availability of low cost labour that is entitled to work in the UK creates a both a competitive pressure and potential opportunity for UK employment.
For further information on the Accession Countries, UKTI (www.ukti. gov. uk) or potential business opportunities in the EU, contact the Manufacturing Advisory Service in the South East 0845-6092121 or email info@mas-se. org. uk, where the team can advise you, regardless of where you are located.
To find out more about the national MAS initiative visit www.mas.dti.gov.uk.
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