The government must develop a coherent industrial strategy says CBI
12 November 2012
The CBI is urging the Government to develop a coherent industrial strategy to boost exports, particularly in fast-growing emerging markets.
Following official trade figures released on Friday, which showed a small rise in goods exports in September, the business group highlighted the potential for £30bn worth of export opportunities by 2020. It is urging the government to play to the UK’s strengths by focusing on ‘champion sectors’.
CBI chief policy director, Katja Hall said official data has recently shown that more firms are dipping their toes into emerging markets but there is scope to make even bigger inroads. “We are not talking about picking winners but tilting the playing field towards sectors where we have a real edge, including the creative industries and automotive. It is critical that the Government develops a coherent industrial strategy which could deliver a £30 billion export boost by 2020.”
The CBI is calling for the government to adopt a joined-up approach to industrial strategy, with sector-specific action plans to maximise growth in key sectors and ensure the UK does not fall behind its international rivals. Among the potential high-growth sectors that the CBI has identified are:
Chemicals and Pharmaceuticals
Green technology and services
Knowledge-intensive business services
Earlier this month, the CBI published detailed proposals to boost UK exports in Playing our strongest hand: Maximising the UK’s industrial opportunities. This report identifies the size of the prize in each sector, along with indicative tailored actions plans.
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