May 2019 - BSI Standards Conference
By 2030 the new global middle class will number 4.9 billion people, according to Dr Linda Yueh, Fellow in Economics at Oxford University and Visiting Professor at the London School of Economics, who was speaking at BSI’s Spring Conference in London. It is a remarkable thought. In her book, The Great Economists: How Their Ideas Can Help Us Today, published by Penguin in March, she points out that global measures of middle class equate to the capacity to purchase a refrigerator. Owning a fridge indicates financial capability to buy white-goods, and to have access to a constant source of electricity and fresh food products.
There is an obvious link to standards. Refrigerators are a proxy for global trade, which is underpinned by international standards. Increased use of international standards is a lever to overcome market access barriers around the world, which can open up a wealth of opportunity for companies to export into new and emerging markets.
The BSI Conference brought together over 200 people from consumer forums, industry, government and academia to discuss the most recent developments in standards making and the global trends that standards support. BSI is the UK member of ISO and the IEC and we are committed to the adoption of international standards as British Standards. UK experts participate in more international standards committees than any other nation and their work ensures that UK industry practices are embedded in global industry standards, adopted and used all over the world.
In the turbulent political times that we face in the UK, the world of international standards is one area where UK thought leadership continues to be as strong as ever. Indeed renewed interest in the UK in global trade has stimulated many new conversations with business and industry leaders on the opportunities that standards bring to improve productivity and competitiveness.
Standards provide the foundation for companies to export their goods and services to international markets, help shape market expectations and allow business to sell to international customers.
You can see highlights of the April conference here. Why not save the date for our next BSI Standards Conference in London on 21 November? You can contact us here if you want to participate in our next conference.