Monday 27th January, 2013

David Cameron told participants at the 44th World Economic Forum’s Annual Meeting that the key challenge for politicians and business leaders in Europe is how to make a success of globalisation.

He commented on the trend of "re-shoring" jobs; "There is a chance for Britain to become the re-shore nation. Europe needs to act now to seize the opportunities of re-shoring."

He said; "It’s time to bring the benefits of globalisation home to ensure the benefits are felt by hard-working people in terms of security, stability and peace of mind."

To support the trend a new body, Reshore UK is to be set up under the Department for Business, Innovation and Skill (BIS).

Cameron pointed to a recent survey of small and medium-sized businesses that found more than one in ten has brought some production back to Britain in the past year.  A survey of leading US-based manufacturing companies indicated that more than one-third was planning, or actively considering, shifting production facilities from China to the United States.

"Right now economies in Europe have a unique opportunity to accelerate this new trend of jobs coming back home," he said. But for re-shoring to happen, it is important to uphold the core values of liberal democracy, including the rule of law, freedom of speech and freedom of the media, property rights and accountable institutions.