30 Jul 2010 15:00:00.000
The Vice-Chancellor of The University of Nottingham is to advise the UK Government on how to boost trade with Asia.
Professor David Greenaway has been invited to join the Asia Task Force, a high-level body helping to boost UK exports and investment in Asian countries.
The Task Force brings together experts from industry, education and government and is co-chaired by Vince Cable, Secretary of State for Business, Innovation and Skills.
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Professor Greenaway’s invitation to join the Asia Task Force reflects The University of Nottingham’s strong and well-developed links with region — it was the first UK university to open a campus in Asia in 2000, when The University of Nottingham Malaysia Campus was opened.
It was also the first foreign university in the world to establish a campus in mainland China, with the opening of The University of Nottingham Ningbo China in 2004.
Professor Greenaway said: “The global economic centre of gravity is shifting rapidly to Asia. In many ways that poses a massive competitive threat to Western economies. But it also offers significant opportunities, through increased exports and cross-border investment.
“We need to be alert and responsive to ensure that the UK has a real presence in the region. I hope this Task Force will help raise visibility and support the development of closer ties.”
The Task Force focuses its work on 12 markets in particular: China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. These 12 key markets accounted for £23.2bn (10.3 per cent) of exports of UK goods in 2009, and £18.1bn of the UK’s exports of services in 2008.
Other members of the Task Force include chief executives and managing directors from global companies such as Rolls Royce, GKN plc, Tata Ltd, Shell, JCB, Arup, Mitsubishi and AMEC plc.
The Secretary of State for Business, Innovation and Skills said: “The Asia Task Force will provide expert, honest advice on how we can deepen our relationship with the growing Asian markets. It boasts an exceptional calibre of expertise drawn from the UK and Asia, for which I am grateful.
“UK exports to Asia more than doubled in value between 1998 and 2008, while the region’s economy has grown faster still. These markets will be a vital route to growth for many UK companies, and the Coalition Government is committed to focusing ever more strongly on them.”
The Coalition Government’s interest in Asia has been underlined by recent visits including Prime Minister David Cameron’s visit to India, the Chancellor George Osborne’s trip to China and Korea, and Foreign Secretary William Hague’s visits to China and Japan.
The International Monetary Fund estimates that Asia will grow at 7.1 per cent in 2010 and that growth will maintain a similar pace in 2011. China and India will lead this growth, with 10 percent and 8.8 percent in 2010, respectively.
Professor Greenaway, an economist, has held a number of prominent public service roles. He was Chairman of the Armed Forces Pay Review Body (AFPRB) from 2004-2010, and a member from 1998-2004. The Body provides independent advice to the Prime Minister and the Cabinet on levels of pay, benefits and charges for members of the UK’s armed forces.
He has also acted as a consultant to the World Bank, the Organisation for Economic Co-operation and Development (OECD), the European Commission, the United Nations, the General Agreement on Tariffs and Trade, and HM Treasury.
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Notes to editors: The University of Nottingham is ranked in the UK's Top 10 and the World's Top 100 universities by the Shanghai Jiao Tong (SJTU) and the Times Higher Education-QS World University Rankings.
More than 90 per cent of research at The University of Nottingham is of international quality, according to RAE 2008, with almost 60 per cent of all research defined as ‘world-leading’ or ‘internationally excellent’. Research Fortnight analysis of RAE 2008 ranks the University 7th in the UK by research power. In 27 subject areas, the University features in the UK Top Ten, with 14 of those in the Top Five.
The University provides innovative and top quality teaching, undertakes world-changing research, and attracts talented staff and students from 150 nations. Described by The Times as Britain's "only truly global university", it has invested continuously in award-winning campuses in the United Kingdom, China and Malaysia. Twice since 2003 its research and teaching academics have won Nobel Prizes. The University has won the Queen's Award for Enterprise in both 2006 (International Trade) and 2007 (Innovation — School of Pharmacy), and was named ‘Entrepreneurial University of the Year’ at the Times Higher Education Awards 2008.
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