UK exports of goods to the Czech Republic were worth £1.5bn in 2008, making the Czech Republic the UK´s 31st largest export market. Two way trade is worth some £5 billion. The Czech Republic has been very successful at attracting foreign direct investment, running at twice per capita of any other country in the region. The UK has contributed 4% of this investment. The Czech Republic is one of the most stable and prosperous of the post-communist states with a fully functioning market economy.
What are the opportunities?
UK Trade & Investment has identified a number of sectors with potential for UK businesses, including:
Advanced Engineering - potential for manufacturing cooperation; niche export opportunities in the automotive and aerospace sectors;
Biotechnology - a priority growth area for the Czech government;
Consumer Goods - increasing demand for clothing and fashion, furnishing textiles, accessories and toiletries;
Design/Creative and Media (film) - UK businesses can capitalise on the UK's international reputation;
Education & Training - demand is increasing as companies invest in human resources; availability of EU funds for projects; schools invest in ICT;
Food & Drink - Czechs' tastes are widening, high number of international visitors to the country;
Healthcare - healthcare management services, medical devices and lifestyle products;
Science & Innovation - multi-sectorial, eg nanotechnology; growing network; opportunities to showcase UK excellence;
Technical Textiles - an expanding sector;
The information provided above is merely an overview; should you require further details you can obtain comprehensive international trade assistance from UK Trade and Investment (UKTI). To find out more information about this country, visit the UKTI Czech Republic web page.
If you're interested in attending an event relating to this country or the possibility of joining a trade mission, please visit the UKTI East Midlands website. If you would like to speak to a UKTI International Trade expert about doing business with this country, please call the UKTI East Midlands office on 01332 826394.