Chief Minister Howard Quayle MHK has welcomed the latest positive outcome of the Isle of Man’s efforts to establish closer economic links with the Commonwealth.
Island-based software development business PDMS Limited has been announced as a Commonwealth Export Champion.
A select number of leading small and medium-sized businesses throughout the British Isles are appointed as Export Champions based on their innovation, ambition and ability to succeed across Commonwealth markets.
Following today’s announcement by CommonwealthFirst, PDMS Ltd. will have access to training and mentoring to support their quest to win new business in Commonwealth countries. The company will also be invited to take part in high-level networking events, including trade missions to the Commonwealth Games in Australia and the Commonwealth Heads of Government meeting in London.
The appointment of PDMS as an Export Champion comes as the Isle of Man Government continues to strengthen its connections with the Commonwealth.
The Isle of Man became a strategic partner of the Commonwealth Enterprise and Investment Council (CWEIC) in 2017 and the Chief Minister will head a delegation attending the Commonwealth Business Forum 2018. The event is an integral part of the Commonwealth Heads of Government meeting, which is being held in the UK for the first time in 20 years.
Contributing to the Business Forum will provide a platform for the Isle of Man to raise its profile across the Commonwealth, which comprises 52 member states representing the interests of more than 2.2 billion people.
The strength of the Commonwealth is highlighted by the fact that intra-Commonwealth trade was estimated at US $525 billion in 2015 and is expected to increase to US $1 trillion by 2020. With the advantages of shared values, legal systems and language, trade costs are estimated to be 19% lower on average between Commonwealth countries.
The Chief Minister said:
‘It’s encouraging to see our association with the Commonwealth Enterprise and Investment Council bearing fruit. PDMS is a respected and long-established Island business and its selection as a Commonwealth Export Champion will open up new business opportunities.’
He added:
‘The Commonwealth offers an international network of markets that the Isle of Man is well placed to support. Developing our connections with the Commonwealth is part of our drive to attract trade and investment and create new jobs for our people.’
Bruce McGregor, Director of PDMS, said:
‘We are delighted to have been selected as a Commonwealth Export Champion and are looking forward to spreading the word about both PDMS and the Isle of Man in the Commonwealth. We are eager to continue driving the growth of our business and promotion of the Isle of Man internationally and believe we will benefit greatly from the resources, guidance and network opportunities provided by the CommonwealthFirst team.’
Lord Marland, Chairman of the Commonwealth Enterprise and Investment Council, who recently visited the Isle of Man, commented:
‘There is increasing interest from British businesses in accessing the established and fast growing Commonwealth markets. We look forward to working with our new Export Champions – together they showcase the best of what the UK has to offer the world.’
