July 27 ,2015 | by Hari Srinivasan

PM Cameron looks to boost Asia trade as UK economy gains momentum

UK economy gains momentum

UK prime minister David Cameron is in South-East Asia to boost trade links, helping to further boost a UK economy that is expected to have seen more growth in the second quarter of 2015.

The prime minister has embarked on a trade tour of South-East Asia as he looks to boost trade relations in the region.

David Cameron arrived in Indonesia today (July 27th) accompanied by a delegation of around 30 British business leaders as he looks to form relationships between UK companies and growing Asian markets.

The government believes south-east Asia represents an area of enormous potential growth for UK companies looking to expand overseas and the majority of businesses represented on the four-day trip are from the finance and technology sectors.

Their arrival in South-East Asia coincides with the news that the finance industry is heading a boom in recruitment throughout professional sectors in the UK, according to new figures.

Data from the Association of Professional Staffing Companies (Apsco) shows there are 13 per cent more permanent positions available in the finance and accounting industries compared to last year, higher than the average 12 per cent increase in vacancies.

Chief executive at Apsco Ann Swain said businesses are looking to hire as confidence and stability returns to the professional services market.

"The fact that wages have risen so significantly is a sure sign that market confidence is soaring. Organisations are scrambling to get their hands on the brightest talent, and only those that can offer attractive remuneration packages stand a fighting chance," she remarked.

Ms Swain added that demand is also there for contract roles, as companies look to bring in compliance specialists to work on one-off projects.
This increase in professional services hiring may be indicative of wider economic improvements, as gross domestic product figures due to be released by the Office of National Statistics this week are forecast to be positive.

Chief economist at IHS Howard Archer was quoted by CityAM as saying the firm expects "improved second quarter gross domestic product growth to have been primarily the consequence of a pick-up in services activity and overall marked improvement in industrial production".

Economic growth in the fourth quarter is predicted to have risen to 0.7 per cent, up from 0.4 per cent at the beginning of 2015.

Hari Srinivasan

Hari is the LSBF Blog's News Editor. He manages the editorial content on the blog and writes about current affairs, SME, entrepreneurship, energy, education and emerging market news.

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