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Projects, Scottish Economy

New CMS and Fraser of Allander campaign to maximise Scotland’s economic potential

Law firm CMS and the Fraser of Allander Institute has launched a new campaign aimed at bringing together Scotland’s business community, government and policy groups to maximise the nation’s economic growth potential. The International Scotland initiative begins with today’s release of a new report highlighting some of the core opportunities for Scottish business, trade, and tourism to excel on the international stage.

The International Scotland report sets out how the nation punches above its weight in key sectors such as renewables, tourism and food & drink. It also recognises the strength of the Scottish university sector in supporting new, innovative companies and highlights how Scotland is an ideal location to attract international talent.

The report also focuses on some of the pros and cons of Brexit, suggesting that the UK’s exit from the EU could bring opportunities for the whisky market in nations like India and has also resulted in an upturn in international students at Scottish universities. It does, however, highlight the damaging impact Brexit has had on supply chains and many companies’ ability to do business, as well as its detrimental effect on foreign investment into Scotland.

A full copy of the International Scotland report can be found here

CMS and the Fraser of Allander Institute will now stage a series of events across Scotland involving direct engagement with the business community, Scottish Government ministers and other policy influencers.

Richard Lochhead MSP, Scottish Government Minister for Just Transition, Employment and Fair Work, will address the first event, focusing on Scotland’s transition to net-zero, in Aberdeen on 22 November.

Ivan McKee MSP, Scottish Government Minister for Business, Trade, Tourism and Enterprise, will then speak at an event focused on his ministerial remit in Edinburgh on 23 November. Mr McKee will also address the final ‘Invest in Scotland’ event, taking place in Glasgow on 7 December.

During the events, participants will discuss the key themes covered by the International Scotland report with a focus on developing policy proposals and recommendations aimed at reducing economic barriers and maximising global economic opportunities.

Companies and individuals wishing to apply to attend the events can register their interest here

Allan Wernham, Managing Director of CMS Scotland, said: “CMS is proud to join forces with Fraser of Allander Institute to launch the International Scotland campaign. Leveraging the knowledge and expertise within both organisations, we are focused on the core themes of business, trade and tourism; inward investment; and the transition to net zero and the key opportunities and challenges for Scotland in fulfilling its full economic potential.

“We now look forward to engaging in further discussions with the business community, government and policy groups to build consensus on the best way forward and develop innovative policy ideas that will help the Scottish economy to thrive.”

Professor Mairi Spowage, Director of the Fraser of Allander Institute, said: “We are excited to work with CMS on this new, internationally focused campaign. Using the evidence base highlighted in the International Scotland report, we will engage with a wider cross-section of stakeholders to explore the key barriers and enablers for the Scottish economy on the international stage. The forthcoming events taking place across Scotland will serve as the basis for feedback, input, further reflection and, ultimately, policy recommendation to drive economic growth.”

 

Authors

Adam is an economist at the FAI who works closely with FAI partners and specialises in business analysis. Adam's research typically involves an assessment of business strategies and policies on economic, societal and environmental impacts. Adam also leads the FAI's quarterly Scottish Business Monitor.

Find out more about Adam.

Mairi is the Director of the Fraser of Allander Institute. Previously, she was the Deputy Chief Executive of the Scottish Fiscal Commission and the Head of National Accounts at the Scottish Government and has over a decade of experience working in different areas of statistics and analysis.

Kate is a Knowledge Exchange Assistant at the FAI working across a number of project areas. She is currently studying for her MSc in Economics at the University of Edinburgh and has a bachelor’s degree in Economics from the University of Strathclyde. Kate is also the Outreach Coordinator at the Women in Economics Initiative which aims to encourage equal opportunity and improve representation in the field.