Midland businesses could be winning valuable contracts as the world aims to invest its way out of recession, according to an international trade expert.

Paul Corcut, of export support body UK Trade and Investment (UKTI) highlighted how countries across the world were looking to spend their way out of trouble.

Speaking at a Business Voice WM seminar, held in conjunction with Birmingham Business School and Forrest Research, Mr Corcut said the G20 - the world's 20 wealthiest nations - had committed to $1.64 trillion (£1.03 trillion) to drive the world economy from recession into recovery. The London G20 summit of earlier this year had pledged an additional $1.1 trillion (£692 billion) for developing countries.

UK Trade and Investment listed the top countries introducing fiscal stimulus measures - that can lead to new orders for Midland businesses - as the United States, Canada, Brazil, China, Spain, France, Germany, Saudi Arabia, United Arab Emirates, India, Russia, Hong Kong, Japan and Australia. The US leads the pack with an $841 billion (£529 billion) spend.

These stimulus packages were producing new opportunities in the supply chain and UK Trade and Investment offered its help to Midlands businesses to get a piece of the action. In most countries, major infrastructure and support work was under way as result of this new money - giving firms from all sectors the chance to win some of it.

Business Voice WM Executive Director James Watkins said businesses were still worried about the lack of action from the Government in respect of export credit insurance.

He said: "We need to export ourselves out of recession but the export credit insurance market is not fully working - which is holding back our potential. With the pound weak against major currencies this should be helping exporters but the credit insurance backlog is holding things up. Government needs to take a stand to get exports moving again."