SCOTLAND’S trade minister Richard Lochhead is set to meet business leaders in France in the hope of opening up new investment and trade opportunities.
The two-day visit – from Wednesday to Friday - will include meetings with the European Space Agency to discuss opportunities for the space sector and a number of renewable energy firms to hear about their work in tackling climate change.
Lochhead said earlier this year that Scotland is now the leading European country for the space sector.
He will also meet with representatives from Scottish textile company Johnstons of Elgin to discuss their experience of entering the French market and plans for future growth.
France is a priority one market in Scotland’s export growth plan, entitled A Trading Nation.
It was the fifth largest export destination last year, worth more than £2.6 billion.
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According to the EY 2023 UK and Scotland Attractiveness Survey, France was among the top five leading countries of origin of inward investment projects into Scotland in 2022.
Lochhead said: “Scotland and France have a long and close relationship that brings significant benefits to both of our countries.
“As part of my visit, I will look to further strengthen our ties, build relationships with new and existing investors, as well as promoting Scotland’s profile internationally and raising awareness of the high-quality businesses in Scotland.
“Despite the economic challenges in recent years, which includes Brexit and the pandemic, Scotland continues to perform very well in attracting foreign direct investment.
“According to the latest EY Attractiveness Survey, inward investment projects in Scotland grew by 3.3% in 2022, compared to 1.4% growth across Europe and a 6.4% fall across the UK.”
In May it emerged Scotland’s exports were outperforming the UK as a whole.
Data from HMRC Regional Trade Statistics show that in the year ending March 2023, the value of total international exports was up 17.7% for Scotland on the previous year, excluding oil and gas. The UK was only up 13.5% over this period.
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