UK-US business links at the heart of trade
Speech delivered by Minister of State for Trade Policy Greg Hands to UK and US members of the British American Business group in London, 15 May.
It바카라 사이트檚 a long time since I left America. I was born in Rochester, in upstate New York, and I spent my first 8 years in the US, in New York and California; and then for most of the 바카라 사이트�90s I went back to work there, working on Wall Street, but covering markets and clients across America.
But then New York, and America: they never really leave you, do they?
Those of us lucky enough to live there always remember the dynamism and endless optimism you get 바카라 사이트� it바카라 사이트檚 easy to be cynical, until you walk through the cities which that optimism built.
And those, like me, who바카라 사이트檝e worked and lived in several countries know there are few closer together than our 2.
Somehow, people always seem to undervalue the cultural factor in trade.
We spend our time talking about the technicalities of tariff schedules and the intricacies of international standards 바카라 사이트� but being able to speak the other person바카라 사이트檚 language is pretty important when you바카라 사이트檙e sealing a deal.
It바카라 사이트檚 obvious when you think about it.
Well if you바카라 사이트檙e an American business looking to trade abroad - there바카라 사이트檚 no other country you can trade with that바카라 사이트檚 got more native English speakers. And it바카라 사이트檚 the same the other way around.
But our links go far beyond language.
We have the same business culture 바카라 사이트� the French don바카라 사이트檛 even distinguish it, they just refer to it as 바카라 사이트榗apitalisme anglo-saxon바카라 사이트�.
Last week I got talking to someone who바카라 사이트檇 worked in finance, in a number of different countries.
He said, 바카라 사이트渢he thing about the British and Americans is you바카라 사이트檙e both constantly worrying about losing competitiveness. But you don바카라 사이트檛 get it - it바카라 사이트檚 just so easy to do business here바카라 사이트�.
That바카라 사이트檚 why we바카라 사이트檙e the 2 countries ranked sixth and seventh for ease of doing business in the entire world; why we바카라 사이트檙e the world바카라 사이트檚 first and second-largest service exporters; and why every single year, every single one of the 10 most reputed universities are in either the UK or the US.
That바카라 사이트檚 why the work British-American business does to forge those links is so important: so a big thank you, on behalf of the government, for everything you do.
And that바카라 사이트檚 why this excellent publication is so important. Yes, America is our largest export market: almost twice the size of Germany.
Yes, we바카라 사이트檝e got over half a trillion pounds invested in each other바카라 사이트檚 economies; and yes, that바카라 사이트檚 huge.
But the statistics don바카라 사이트檛 matter in and of themselves. It바카라 사이트檚 what they mean.
That half trillion, for example: that means there바카라 사이트檚 huge numbers of Brits with jobs at American firms; and as the report states over a million Americans who have jobs because of British investment.
So it바카라 사이트檚 the individual examples, like the ones we바카라 사이트檝e got here, that matter 바카라 사이트� the individual exemplars that we바카라 사이트檙e here to celebrate.
Let me pick some out. How about the 100 US service veterans who바카라 사이트檝e got jobs at Britain바카라 사이트檚 Jaguar LandRover, as part of a dedicated scheme? Or the 1,000 US employees of architects Arup 바카라 사이트� skilled jobs from a respected company.
And those examples: they바카라 사이트檙e just the tip of the iceberg, a drop in the ocean, compared to the value of UK-US trade for our jobs and our businesses.
There바카라 사이트檚 14,000 UK companies with US subsidiaries.
I바카라 사이트檝e seen some of them in my travels across the US I have done in this ministerial job, way beyond New York and the Beltway: to Chicago, LA, San Diego, Denver, Ft. Worth, Austin, Seattle and Salt Lake City.
It바카라 사이트檚 almost as if I heard Horace Greeley when he said: 바카라 사이트済o West, and grow up with the country바카라 사이트�.
So the government wants to secure and enhance your ability to trade with America.
And we바카라 사이트檙e taking steps right now to do that.
UK Export Finance can now provide up to 拢4 billion of support for the American market.
We바카라 사이트檝e set up a Trade and Investment Working Group, to boost commercial links, before we leave the EU. We바카라 사이트檝e already made good progress 바카라 사이트� for example, we바카라 사이트檝e agreed steps to protect small businesses바카라 사이트� intellectual property.
And we바카라 사이트檙e laying the ground for a new, comprehensive trade agreement with the US 바카라 사이트� one of the great opportunities beyond the EU Customs Union.
So, ladies and gentlemen, the American opportunity is one we바카라 사이트檙e well placed to seize. Few economies are more complementary. Few allies are closer.
That바카라 사이트檒l be strengthened when the President visits here in July.
To quote Steven Mnuchin, the US Treasury Secretary: 바카라 사이트淎s soon as the UK is ready we will be prepared to negotiate an attractive trade deal바카라 사이트�.
Well - we will be ready. And from March 2019 we can negotiate, sign and ratify trade agreements.
But first, we need your help. We can바카라 사이트檛 let people take for granted the benefits of free trade or our Anglo-American friendship. It바카라 사이트檚 too important for that.
This is a fantastic opportunity.
Let us work together to make it a reality!
Updates to this page
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Transcript of speech added.
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First published.