EU companies find success in Asia with EU Gateway Business Avenues
The latest EU Gateway | Business Avenues Programme, a flagship European Union-funded initiative which supports thousands of European companies in Asia, delivered 53 business missions involving more than 2,200 European companies.
Promoted in partnership with the European Cluster Collaboration Platform, the programme has been active in the Republic of Korea, South East Asia, Japan, and China from 2016 to 2020.
Missions aimed to help European companies establish or consolidate their businesses in Asia in crucial sectors for the European Union (EU) - a greener economy, a healthier population, and a smarter, digital world. Tens of thousands of B2B meetings between European companies and Asian representatives took place during the course of the business missions with more than 27,200 of them were deemed useful. Some 92% of the participating companies were satisfied with the missions and 98% said they would apply again.
The results already show an incredibly positive trend. Between 2016 and 2019, 5,000 new jobs were created in Europe within one year from the missions and 57% of the participating companies either concluded new sales or signed business contracts or were expecting to do so shortly after they participated in a mission.
In 2020, missions became virtual to support European companies in consolidating business collaborations during the economic downturn caused by the COVID-19 pandemic.