beta

You're viewing our new website - find out more

News

Economic Summit

Published: 17 Nov 2016 12:59
Part of:
Economy

Continued strong links with Europe.

Scotland has a strong relationship with Germany and is committed to continuing to develop our cultural, economic and political links, Minister for UK Negotiations on Scotland's Place in Europe, Michael Russell will say today as he participates in a conference in Berlin.

The First Minister recently unveiled plans to increase Scottish Development International presence in Europe to support Scottish companies with a permanent hub established in Berlin and trade envoys appointed to promote Scottish exports – further supporting the economy.

Speaking ahead of the Süddeutsche Zeitung Economic Summit 2016,Mr Russell said:

“Since the EU Referendum our overriding objective is to protect Scotland’s interests and its relationship with the European Union. We value the contribution of the German community – approximately 30,000 in Scotland - and the important role it plays in enriching Scotland socially, culturally & economically.

“Remaining a member of the single market is crucial to businesses and communities in Scotland and across the UK, and the trade benefits of single market membership are an integral part of our vision for Scotland’s economy.

“A recent report by NIESR economic think-tank, says UK exports from the services sector could be cut by up to 60%. For Scotland this would be equivalent to a £2.3 billion hit.

“Services exports from Scotland to Europe have been growing rapidly in recent years and to stop this growth would be a severe blow to our long-term economic prospects.

“We want this to continue and with an Innovation and Investment Hub in Berlin we want to strengthen and enhance our existing relationships within the country.”