Heathrow and Asia House expand help for SMEs navigating Asian markets

With a still struggling Eurozone, UK businesses are looking to fast growing regions such as Asia to boost their trading prospects. Heathrowworked with Asia House on a set of guides to countries in 2013, including well-known markets such as China and India. For this group, we have featured countries that are often considered more challenging but have vast potential. Kazakhstan, for example, already has strong trading links with France and Germany whilst Mongolia’s economy is forecast to grow by 14% this year, but there is no direct flight connection with the UK.

The series of guides now includes Azerbaijan, Kazakhstan, Malaysia, Mongolia, Myanmar (Burma), Pakistan, The Philippines and Turkey - and have been written in collaboration with trade bodies, associations and British Embassies to offer expert tips on business culture, language and market opportunities in eight new Asian economies. They also provide first-hand accounts from British businesses which have succeeded in the region.

Heathrowsupports UK firms reaching their exporting potential, which is why we commissioned the guides with Asia House. There are certain aspects of business culture that each country shares, for example there is a strong cultural preference to develop a personal connection or relationship to strengthen business, with many Asian businesspeople looking for signs of a long-term relationship from the outset. However, there are many more aspects of business etiquette which are specific to each country. For example, drinks are customary at the conclusion of business in Mongolia – toasts with shots are expected, although it is acceptable to decline after a couple. Small gifts are also common at the completion of a deal.

To trade successfully with these countries, UK firms need to be able to get there. Research shows the UK trades 20 times more with emerging markets where we have a direct flight, compared to those where we do not. Only a hub airport can provide the direct flight links to these markets. German firms can fly direct to Mongolia, make contacts and do deals while UK firms lose out. The Airports Commission is currently considering the future of aviation in the UK. If business wants to get to emerging markets then they need to make their voice heard and back a third runway at the UK’s only hub airport, Heathrow.

The guides will be available to download here http://asiahouse.org/uploads/1389197333_navigating-asian-markets-2_-web_final-.pdf. and through local Chambers of Commerce. The first series is also available and covered China, India, Indonesia, Japan, Singapore, South Korea, Thailand and Vietnam.