This summer Open to Export and the Institute of Export are running two sessions on managing risk in emerging markets as part of the Beyond the EU series. This is part of our joint efforts to help UK businesses embrace the opportunities of a more ‘Global Britain’ following Brexit while mitigating against the risks involved in new markets.
Webinar: Managing corruption risk in markets beyond the EU
Brook Horowitz of IBLF Global, and Robert Wilson and Toby Lamarque from Exiger, will be speaking on our webinar on ‘Managing corruption risk in markets beyond the EU’ on May 9th.
These markets are among the most likely destinations of UK exports outside the EU post-Brexit and they provide growth opportunities and exposure to corrupt practices in almost equal measure. For UK companies, subject to strict ethical standards and needing to comply with legislation such as the UK Bribery Act, there is a bewildering array of legal and enforcement regimes. Furthermore, there are many different cultures of business based on age-old traditions and ethical norms, which are very different from our own.
Brook, accompanied by two legal counsels specialising in corporate compliance and anti-corruption law, will discuss how exporters can navigate their way through the minefield of anti-corruption legislation and can protect themselves from solicitation from corrupt officials and business partners in high-growth, high-risk markets.
Managing risk and opportunities in emerging markets
He will then be leading an Institute of Export and International Trade day course on ‘Managing risk and opportunities in emerging markets’ on May 25, London.
From the already well established BRICS (Brazil, Russia, India, China and South Africa) to the less familiar MINTs (Mexico, Indonesia, Nigeria and Turkey), these markets present British companies with the tempting prospect of rapidly growing populations, a growing though under-supplied middle class, a new generation of urban consumers wanting to improve their life style and quality of life, and large national investment projects. As Europe remains stagnant, here is the chance for British companies to pin their longer-term success to some of the fastest growing and most exciting markets that the world has ever known.
At the same, these same high-growth markets have a high level of risk, and exporters need to build a risk management programme into their go-to-market strategies. Aside from political risk (for example regime change, social and political unrest or unseating of the head-of-state), there are less obvious risks such as economic volatility due to excessive dependence on extractives, raw materials or commodities. Many of these countries are ruled by authoritarian regimes, which can make sudden decisions on tariffs, quotas or foreign exchange which can dramatically affect terms of trade. Finally there is the important issue of different cultures of business based on age-old traditions, and ethical norms which are very different from our own. In particular, one of the highest risks for British companies is dealing with the corruption that is endemic at every level of society, business and government.
The course will explore these issues – and more – through case studies from some of the main emerging markets, role-playing, negotiation simulation, and a lively exchange of best practice, which will equip exporters to approach the new markets with renewed confidence.
Who is delivering the course and webinar?
Brook Horowitz (course and webinar) is a consultant in international trade, and is CEO of IBLF Global, an NGO which promotes responsible business practices in emerging and developing markets. He has worked in many of the emerging markets and was with GE in Russia and Eastern Europe throughout most of the nineties.
Robert Wilson (webinar) is a Director with Exiger, a consultancy for compliance and risk management. He focuses on fraud, bribery and corruption and financial crime investigations, and was previously head of anti-bribery and anti-corruption with GSK.
Toby Lamarque (webinar) is a Consultant with Exiger specialised on corporate anti-bribery and anti-corruption. He was previously with the Serious Fraud Office.