31 Mar 2025
By Richard Muir, Deputy Chief Executive of Glasgow Chamber of Commerce
It was great to participate in the British Chambers of Commerce (BCC) 'Driving International Trade' Conference in London recently, and the timing of the event couldn't have been better from a Glasgow Chamber point of view.
Glasgow Chamber has an ambitious international trade strategy. In addition to recently signing an MOU with Bremen Invest, we are leading a trade mission with Glasgow businesses to New York to coincide with Tartan Week this week. We will also follow up with our partners in China as the invited guest city for the China (Shanghai) International Technology Fair in mid-June.
The BCC has over 50 accredited UK Chambers and more than 70 overseas Chambers based in key markets. Interestingly, 11% of UK businesses export, while over 40% of Chamber members are exporters. If total exports had been around 2% higher last year, the GDP could have increased from 0.9% to around 1.5%.
We know from our members that the right trading environment can only benefit our economy. The event brought together many businesses, diplomatic dignitaries and senior politicians to discuss trade opportunities. Best practices and case studies were shared, and vital connections were made with members from Glasgow, key contacts at BCC Chambers, and contacts based in Singapore, Dubai, Egypt, and the USA.
We heard from the Minister for Investment, Baroness Poppy Gustafsson, and the Foreign Secretary, David Lammy, about the importance of UK business and diplomatic representatives working together. Indeed, the Foreign Secretary made some significant announcements that put the Chamber of Commerce network at the heart of his ambitions for growth. He launched a quarterly Lancaster House Business Engagement series so that top ambassadors can regularly share insights with the UK's top businesses and set up a Diplomatic Advisory Hub within BCC to ensure greater collaboration and understanding of trends and challenges between business and UK government.
All Ambassadors in key markets will now be evaluated on their success in securing trade and investment wins abroad. Additionally, Mr Lammy accepted the BCC's offer for all Ambassadors and High Commissioners to serve as Honorary Presidents of their host country's Chamber of Commerce - a move that strengthens the link between business and politics and is widely welcomed.
Despite obvious challenges, our international trade prospects look bright, and there were many positive takeaways. Speakers reinforced the importance of collaboration and working with trusted in-market partners and businesses. We heard how the US values exceptional customer service and that Scottish businesses can win in the US by excelling in this. The US market has, in the past, embraced new suppliers, which has created opportunities for specialist products and services, especially for smaller companies.
As we know, AI is transforming international trade, resulting in streamlined customs, improved compliance, and optimised supply chains. The good news is that UK businesses often lead this digital revolution, gaining competitive advantages internationally. AI-powered translation tools also assist with language and communication, making international trade more accessible and cost-effective for our entrepreneurs.
Given Glasgow Chamber's current focus on five key markets, including Germany, the USA and China, it was heartening to discuss in depth some of the market opportunities in each. Germany has abundant opportunities for Scottish businesses with world-class capabilities and expertise in defence, infrastructure, space tech, and green hydrogen.
Scotland and the UK already excel within the USA in financial and professional services, food and drink, especially whisky, manufacturing and engineering, as well as tourism and in China, the opportunities in tech are vast, particularly around health and life tech, energy, fintech and education. Through strengthening partnerships in Bremen, New York, and Shanghai, we are keen to bring these opportunities to life and help our companies win contracts, form partnerships, distribution deals, and source investment in the coming years to boost their overseas trade transactions.
Trade networks like our Chambers of Commerce provide valuable support, intelligence, expertise, and global connections. While many of our exporters face undoubted headwinds in a new era of protectionism, it seems that Scottish businesses are more eager to embrace globalisation than ever.
Glasgow Chamber of Commerce is at the epicentre of this network and working with key businesses and partners such as the Scottish and UK Governments, Scottish and British Chambers of Commerce, SDI, DBT, and other partners, including our Global Scots, can help to deliver an even more joined-up approach. This will result in more tangible outputs and outcomes and help our businesses achieve their international trade aspirations, boosting our economic outlook and prosperity at home.
