The County Durham Development Company (CDDC) and NETPark, the North East's premier science, engineering and technology park in Sedgefield, have agreed to work together with Australian global partnerships experts ITECplace that will ensure the region's firms gain exposure to the South East Asian markets.
The initiative has been supported by UK Trade & Investment, both here and in Australia and the new partnership will be cemented with a market visit to Melbourne, Australia in November, when NETPark companies will have the opportunity to meet potential collaborators.
David Coppock, UK Trade & Investment's International Trade Director, said:
"The UK and Australia already has strong links and this new partnership will help develop those relationships further, particularly in the high-technology field where the North East has shown such innovation"
Jim Thompson, Manager, Trade and Investment with UK Trade & Investment in Melbourne, added:
"We are very excited at the real business prospects that could be opened up for UK companies through this ambitious project.
"UK Trade & Investment has been working for some time to help develop mutually beneficial business and research and development partnerships between the UK and Asian companies. ITECplace offers a significant opportunity to help these processes."
Stewart Watkins, Managing Director of County Durham Development Company, said:
"NETPark is experiencing phenomenal success as one of the UK's fastest growing homes for cutting edge science and technology businesses. Working with ITECplace and UK Trade & Investment will further strengthen that position as well as opening up opportunities for existing residents on the park and the wider County Durham."
Bill Petreski, Managing Director at ITECplace Global Ltd, said:
"The South East Asia supply chains include countries such as Australia, Singapore, Taiwan, Korea and India. Together it represents more than US$100 billion in market opportunities for ICT products and services.
"ITECplace has a track record for delivering business opportunities and this new initiative will help the North East's high-tech companies build new partnerships in these markets and with Korean and Taiwan companies coming to the North East."
For more information about this and the wide range of support services available through UK Trade & Investment to help your company succeed overseas call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk.
