The festival’s 200 events will give small, medium and large businesses the chance to make international connections, exchange new ideas, promote their products, create new partnerships and seek new sources of finance.
It is part of the government’s plan to double exports by 2020.
Cable said: “In the UK we are seeing encouraging signs of recovery in the economy but to ensure that it’s built on the right foundations, we need to boost exports. The International Festival for Business will be a catalyst for businesses large and small to accelerate their expansion plans and fulfil their trade ambitions.
“It is rare that an event of this magnitude is staged anywhere so I hope that businesses across the whole of the EU will seize this opportunity and use it to showcase their products and services to the rest of the world.”
As part of the Festival, UKTI will present a Benelux Day on Thursday June 19 which will showcase priority investment sectors in the UK for Benelux companies and business opportunities for British companies in the Benelux region.
Ian McCarthy, director of IFB 2014, said: “Europe remains the UK’s key export market and it is vital that the whole of the continent and the Benelux countries take part. As the name suggests it is an international festival and every single one of the events would be useful to EU businesses.
“We live in a truly international economy. At its core IFB 2014 provides an unprecedented international business networking opportunity.”
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