An Assembly minister is set to urge Welsh businesses to learn how to become more globally competitive at a landmark business conference being held in Cardiff.

Top UK and international business leaders will head to Wales' capital in October for a conference focusing on the key challenges facing companies in an increasingly competitive global marketplace.

The European Foundation for Quality Management Forum is being held from October 3 to 5 at the Cardiff International Arena. A gala dinner will be held in the Millennium Stadium on October 4, when the Wales Quality Award and European Quality Award winners will be announced.

The event is held annually at a major European city and the choice of Cardiff this year underlines the Welsh capital's growing international status. The event will provide a rare opportunity to Welsh businesses to network with senior business leaders and potential export customers from across the Continent.

On the agenda will be the rise of the Chinese economy, and delegates will examine how European businesses can turn this potential threat into a major opportunity. Assembly Minister for Economic Development and Transport, Andrew Davies, is urging Welsh entrepreneurs to sign up for the event.

He said: "The EFQM conference is a great opportunity for Welsh business leaders to meet their counterparts from other European countries and share commercial experience. "This presents an outstanding opportunity for organisations in Wales to grow and develop and to improve their competitive position."

Among a host of top speakers scheduled to address delegates is Gerard Kleisterlee, chief executive of Philips, which has become the largest multi-national firm operating in China.

Also speaking at the event are K Vaman Kamath, chief executive and managing director of the first universal bank in India, ICICI Bank Ltd and chairman of PricewaterhouseCoopers, Kieran Poynter.

Delegates will visit British Airway's maintenance facility at Cardiff Airport and Dow Corning's base in Barry.

Vincent Kane, chairman of Forum hosts Wales Quality Centre, said: "The event offers an ideal environment for the sharing of ideas and solutions. It also provides us with a golden opportunity to showcase Wales to Europe's business leaders."