Event aims to increase global car makers' investment in the UK and create jobs.

Car makers from around the world are being put in touch with UK firms in a bid to stimulate investment and make their UK supply chains more local.

Set up by the Government, the initiative could also help throw up employment opportunities for people seeking manufacturing jobs and other positions in the motor sector.

Organised by UK Trade & Investment, the move will aim to pinpoint investment opportunities and highlight what the UK has to offer global companies in return for their capital.

It follows an Automotive Council report in the summer that found vehicle manufacturers already spend some 8.4 billion with British suppliers. It also found the firms want to increase their purchasing on a local level, which could result in up to 3 billion a year in extra investment in the UK.

Business Minister Michael Fallon said the country had to ensure it did all it could to help the supply chain take better advantage of business opportunities in the motor sector.

He said: "Showing global businesses what the UK has to offer will help make this happen."

Mr Fallon said it was hoped the initiative would help seal valuable business deals for British companies and further bolster the success of the country's motor sector by demonstrating the Government's commitment to growth.

Last year 1.4 million cars were made in the UK with the total annual number predicted to increase to 2 million within three years.

Richard Parry-Jones, co-chair of the Automotive Council, said although major car manufacturers had already "repatriated" hundreds of millions of pounds worth of business to Britain the potential was there "to win back so much more".

He said the investment in research and development projects and manufacturing ventures by foreign vehicle manufacturers gave increasing numbers of UK suppliers a chance to become "global players" themselves.

There was also an opportunity to persuade new suppliers to base themselves in the UK, he said.

Mr Parry-Jones added that the Government and motor sector, working through the Automotive Council, were determined to help UK suppliers take the opportunities, which would make the UK supply base healthier, generate growth and create "high value manufacturing jobs".

Copyright Press Association 2012