AS the new chairman of the Tees Valley North-East Chamber of Commerce (NECC), this is my first column.

Those of you who already know me will be aware that, as a long-standing member of a wine tasting group, I enjoy buying, talking about, and (most importantly) drinking wine.

I have noticed of late, though, that although the special offers continue, the price of some wines are increasing, caused in the main by the weakness of the pound.

This may in due course make English wines relatively cheaper and encourage yet more vines to be planted. While I’m not aware of any viable vineyards in the North-East, there is now one near Leeds, so we are getting closer!

The weak pound, while bad news for importers and, in the long run, inflation, is good news for exporters. As a result, some businesses are reconsidering their buying and manufacturing strategy.

To take one example, Harrison External Display Systems, a flagpole manufacturer, is repatriating a significant proportion of its manufacturing from Sri Lanka to Darlington, in the process doubling its work force to 80. This is something I think we will see more of in the coming months.

As a chartered accountant, I deal on a daily basis with businesses which have been affected by the current economic situation.

As a reader of this paper you will have seen the impact it is having on the North- East, both negative and positive.

Last month, it was announced that the Tees Alliance Group (TAG) contract for the SeaDragon project was being transferred to Singapore. While this is obviously not good news, it is pleasing to see TAG respond this week by announcing that it is close to signing a deal to build an oil rig for the Saudi Arabians, which will bring 1,000 jobs to the Tees Valley.

At the same time at Business and Enterprise North-East, for which I am a nonexecutive director, we have seen a significant increase in the number of new start business start ups.

The story of the North East is one of resilience and long may it continue.

■ Chris Beaumont, is chairman of Tees Valley committee of NECC.