Caption: MP Jeremy Browne speaking at the Global Manufacturing Festival at Sheffield's City Hall this week.

Britain needs to "raise its game" to make sure it is not left behind by emerging markets around the world, according to Jeremy Browne MP, Minister of State at the Foreign and Commonwealth Office.

Mr Browne was speaking at the Global Manufacturing Festival's Convention and Trade show at Sheffield City Hall.

He said: "There's a revolution taking place in the world and we choose to be wilfully neglectful of how the revolution will affect us. The world's economy is set to expand rapidly and we need new alliances and better understandings with more countries.

"Our economy will grow, but we'll be getting richer at a slower rate than other areas of the world. The UK and Europe's share of the global economy will be smaller. We are not seizing the opportunities which exist, we need to look globally and encourage more countries to be open to British investment.

"The UK needs to raise its game to make ourselves more competitive on a global market. We can be globally competitive as we have strengths which are recognised around the world in many important sectors.

"The Foreign Office is strengthening links with emerging markets and the coalition Government is working to ensure we have a competitive business environment, competitive tax regimes and a competitive infrastructure." 

The Convention and Trade show saw presentations from Lee Hopley from EEF, Chris Squires at EDF, Andrew Peters from Siemens Drive Technologies, Sir Chris O'Donnell former CEO of Smith & Nephew, Ric Parker of Rolls-Royce, Dr. Alan McLelland at NAMTEC and Professor Keith Ridgway CBE, University of Sheffield's Advanced Manufacturing Research Centre with Boeing.

There were also case-studies from Harry Hutchinson, HGF Patent and Trade Mark Attorneys and Dr Edward Draper, from Sheffield-based manufacturer JRI Orthopaedics Ltd.

The Global Manufacturing Festival, which was organised by Sheffield Chamber of Commerce and Marketing Sheffield, ran over two days and attracted more than 2,000 people to a range of activities.

Events included the Get Up To Speed - Skills and Education Show, which brought together young people, schools, parents and students with local engineering and manufacturing businesses.

Sir Roger Bone, President of Boeing UK, delivered a management lecture, organised by the University of Sheffield and Sheffield Hallam University, while Made in Sheffield staged their annual awards dinner at the Cutlers' Hall, with Dr Karl-Ulrich Köhler, managing director and chief executive of Tata Steel Europe the keynote speaker.

The festival, sponsored by Nabarro LLP, NatWest, University of Sheffield and Siemens Plc, was the second to take place in Sheffield since its creation a year ago.

Richard Wright, executive director of Sheffield Chamber of Commerce, said: "We were delighted with the festival as it achieved most of the objectives we had set ourselves against what is a five-year plan to stage the event in Sheffield.

"Attendances were as good as last year and we increased the number of people from outside the region, attracting delegates from four countries around the world.

"Every event was better than last year and we are already working with national bodies in planning for 2013. There were great points discussed, there were things to learn. We want to thank the hard work that everybody put into the four events and the sponsors that made it possible - we are all backing this city and its future and it is great to see "Team Sheffield" in action."

Brendan Moffett, director of Marketing Sheffield said: "The festival is an ambitious project that needs to build year on year so that Sheffield City Region becomes the centre of UK manufacturing in everybody's mind. We have a five-year plan and we are going to deliver it. Bring on 2013!"