Parliamentary Reception and Networking Dinner

27 June 2012

Parliamentary Reception

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With the worldwide subsea market currently estimated at around £20billion annually, there is anticipation this figure could double over the next five years. The UK is seen as the global centre of subsea excellence taking a third of the global market share and the opportunities for UK based companies are immense. One of the aims of the reception is to raise awareness of our thriving industry with government ministers and gain national recognition as well as their support helping develop the UK subsea sector and maintain its place as the world leader.

With many overseas governments having key strategies and initiatives to support the development of the subsea sector, we would seek to have better engagement with the UK government and work on policies and strategies that support our industry sector. The potential growth of the sector will see a huge demand for additional personnel and how we continue to maintain our skills and knowledge base is essential in enabling us to remain competitive in the global market place.

Attendees were:

·Sir Robert Smith MP

·Vince Cable – Secretary of State

·Ed Davey – Secretary of State

With predictions that the global subsea market could double over the next five years, the UK has the opportunity to strategically position itself to maximise export opportunities and maintain its position as the world leader in subsea innovation and technology.

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