On 19th November, in collaboration with Atradius UK, Chambers Wales South East, South West, and Mid hosted the launch of its International Trade Forum.
The event marked the beginning of a quarterly series designed to support businesses in navigating the complexities of international trade. It provided insights into credit insurance, trade agreements, and foreign exchange solutions, featuring some of south Wales’ top business leaders.
Held at Atradius’ headquarters in Cardiff Bay, the forum began with an impactful speech from Tanya Giles of Atradius. She emphasised the essential traits of resilience, creativity, and luck in business while underscoring the importance of up-to-date knowledge, understanding client bases, and having a solid business plan. Tanya also highlighted Atradius’ pivotal role in offering global debt collection services and innovative insurance solutions, reinforcing their commitment to empowering businesses in the south Wales region and beyond.
Gus Williams, Interim CEO of Chambers Wales South East, South West, and Mid, followed with a discussion on the Chamber’s approach to prioritising the voices of businesses rather than imposing an agenda. He highlighted the Chamber’s goal of understanding the challenges and priorities of the south Wales business community and the potential for collective action to drive economic development in the region.
Gareth Evans, from the UK Department for Business and Trade, provided insights into simplifying trade agreements. He introduced tools and resources to help businesses understand and utilise these agreements, referencing the UK’s participation in 70 trade deals, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This landmark agreement covers 12 diverse economies and offers advantages such as reduced tariffs and commitments to digital trade. Gareth urged businesses to stay informed as new agreements, including the UK-Australia deal, continue to be implemented. He also pointed to online guidance provided by the Department for Business and Trade on key agreements like the UK-Australia and UK-New Zealand FTAs.
Rob Farquharson of Thomas Carroll
Rob Farquharson of Thomas Carroll discussed the benefits of trade credit insurance, highlighting its role in protecting businesses from debt. In partnership with Atradius and Chambers Wales, Thomas Carroll has created modular policies tailored to exporters and international traders. These policies not only provide financial protection but also offer insights into potential clients, enabling businesses to make informed decisions. With a 90% risk share and options to ensure consignment stock, the policies aim to support growth while mitigating risks.
James Busby of MoneyCorp
The final speaker, James Busby of MoneyCorp, provided advice on reducing costs and increasing revenue through foreign exchange solutions. MoneyCorp, specialists in currency management, offers products such as forward contracts that allow businesses to secure currency at current rates for future payments.
The launch of the International Trade Forum showcased the collaborative efforts of Atradius, Chambers Wales, and industry experts to equip businesses with the tools, knowledge, and strategies needed to thrive in international trade.
The next forum in the quarterly series will build on these insights, continuing to support the growth and resilience of businesses in south Wales and beyond.
For more information on international resources, visit: https://cw-seswm.com/trade/international-resources/
