Emerging markets are growing rapidly as a share of global GDP. Between 2012 and 2015, global economic outlook is forecast to rise by $ 8.5 trillion. Emerging markets are expected to account for about 62 percent of that growth. In other words, emerging markets aren't just growing faster than developed markets; they are set to contribute a greater share to the absolute expansion of the global economy than developed nations. As an illustration, India will contribute more growth in the next five years that either Germany, Japan, the United Kingdom, France or Canada.

And that growth isn't just coming from the BRIC nations- Brazil, Russia, India, China. Many indicators point to rapid and sustained levels of growth in many other emerging markets such as Argentina, Chile, Indonesia, the Philippines, Quatar.

While important at a macroeconomic level, this phenomenon is also visible in several industries. For example, in electronics and high tech, emerging markets will account for 88 percent of the growth in mobile phones, 83 percent of the expansion of PCs purchased and 66 percent of additional TV sets sold over the next five years.

For companies across markets and industries, the message is clear: the new investment landscape necessitates a rethink and this must include redoubling of efforts in the area of government relations. Government relations helps position an organization in the mind of foreign government officials and agencies. It requires leveraging relationships, information exchange and stewardship. The management of relationships with foreign government officials in emerging markets is indeed a very valuable source, one that too many organizations neglect to nurture and invest in. Those companies that are quick to re-evaluate the opportunity in emerging markets and organize themselves to seize it will be best placed to capture new sources of growth.

Maintaining working relationships with relevant regulatory agencies, smoothing the way for operation and expansion, understanding the policy environment and how the government works are imperatives that need to be fully considered when reassessing the emerging-market opportunity, regardless of industry or stage of internatioonalization.

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