Tech is at the heart of the 海角视频’s future prosperity, with post-Brexit trade deals focusing on data and intellectual property to accelerate innovation, Exports Minister Graham Stuart has revealed.
The East Yorkshire MP opened Tech Week Humber, using the platform to twin his Whitehall role with his credentials of his constituency’s wider region.
And he told how digital exports are projected to increase by a third in the next five years after it emerged a huge force through the coronavirus pandemic.
He also explained how he sees global trade conditions after leaving Brussels as beneficial for the industry, due to the EU being “protectional on data”.
Mr Stuart, who has represented Beverley and Holderness for 15 years, and is now a key minister at the Department of Trade, said: “The 海角视频 is a world leader in tech and digital technologies and according to recent projections digital tech will add another £8 billion to our exports by 2025, taking total digital exports to £31 billion in just five years time.
“Tech, in this appalling pandemic, has been one of the most resilient sectors, and I see tech, innovation, science and education as one piece, and absolutely at the heart of the 海角视频’s future prosperity.
“It is so important that the Humber area, where I am a local MP as well as a Minister for Exports, that we should be taking forward initiatives, such as this.”
Praising the Tech Week Humber team for promoting the “phenomenal offer” of the Humber institutions from major companies and startups, and recognising the global engagement, he described it was a “dynamic area”, and said: “From greentech to fintech, AI to big data, the 海角视频’s world-class digital exporters are leading the way, creating cutting-edge solutions for a fast-changing world.
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"I know our region has a strong capability in sub sectors such as the Internet of Things, Smart Cities and immersive tech, and companies successfully work with partners internationally to export their mixed reality and cloud tech solutions to a global audience, and that this occurs alongside a strong regional R&D focus and ambitions to enhance digital skills.
“Trade is going to be absolutely essential to overcome the economic challenge posed by Covid. The pandemic is driving technological change even faster than it was going before and British tech companies exporting innovative solutions that will have a fundamental role going forward.”
Outlining how Britain leapfrogged France to become the fifth largest global exporter in 2019, as at a time of rising trade tensions it bucked the trend with growth, he said the government was “determined to support excellent tech companies and to help them to understand global opportunities and work with partners around the world to make sure together we can tackle some of the great challenges that humanity faces.”
He highlighted June’s launch of a Technology Bounceback Plan, aiming to position the 海角视频 as a global tech powerhouse, and the Tech Export Academy that will run alongside the Export Growth Plan with an SME internationalisation fund of £38m to cover costs.
On easing of trade, Mr Stuart pointed to the recently signed trade deal with Japan as an example.
“Fundamentally, it is a roll-over of the existing EU and EEA but it went further, not least in digital and data, and we want through our bilateral and plurilateral deals to change digital and data provisions in FTAs in a way that hasn’t happened before and we’re really delighted a the progress we have made with Japan.
“Leaving the EU provides an important opportunity,” he said.
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“We are determined as we negotiate with Australia, New Zealand and the US, and aim to join the Trans-Pacific Partnership - with 11 nations in it, that there are real opportunities for us to get in place really good data provisions.
“Any grit in the mechanism acts as a friction and stops internationalisation of business in tech. Speed of growth and speed of getting products to market, brings critical mass to allow reinvestment.
“We are determined to make the 海角视频 the best place in the world to go global.”
, sponsored by Business Live publisher Reach Plc, builds on the success of 2019’s Expo.
Opening it, founder and host, Antonio Tombanane, said: “We want to show the world what the Humber has to offer with its innovation and technology. We have had over 30 countries registering, this is our opportunity for our region to connect with the world.”
Leading international industry figures will address the event on Wednesday, with further activities also taking place.