Welcome to the January 2018 Trade and Investment Update
At BABC we have already enjoyed a very busy start to the year with the exciting announcement of a new Chief Executive Officer and the dates and location confirmed for the 2018 Transatlantic Conference. You will find more details on both of these announcements below.
2018 is set to be a very busy year for everyone involved in international trade and investment and we look forward to keeping you up to date with the latest news, insights and events.
Don't forget you can also follow @BABCTrade on twitter for the latest information
Our transatlantic network grows every day. Join us and get in touch at
trade@babinc.org
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BABC Transatlantic Conference 2018
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BABC Transatlantic Conference 2018 to be held in Birmingham, UK
We are delighted to announce that the BABC Transatlantic Conference 2018 will be held in Birmingham, UK on 6th – 8th June, 2018.
The annual Conference gathers global thought leaders and members of the BABC network, located across North America and the United Kingdom, to discover new business opportunities and build relevant relationships with senior executives actively engaged in transatlantic business.
The conference presents a great opportunity to connect with the many leading companies based in the city of Birmingham and business executives actively involved in transatlantic business. Join us to discover the business opportunities the Conference can provide.
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Duncan Edwards appointed CEO
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On Wednesday, January 17th, Christopher Perry, Chairman of the Board of BritishAmerican Business, announced the appointment of Duncan Edwards as Chief Executive Officer. Edwards, a media executive with over 30 years of experience, spent 27 years at New York City-based Hearst Corporation, most recently as President and CEO of its international magazine and digital media company, Hearst Magazines International.
“The history and economic value of trade and investment between the U.S. and UK is one of the world’s great economic success stories,” said Edwards. “Members of the BAB and BABC network represent a significant part of driving that trade value and I look forward to working with our members and governmental representatives from both countries to ensure that our trading relationship continues to be encouraged, facilitated and developed by all parties.”
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Special Feature - Real Lancashire Eccles Cakes
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Real Lancashire Eccles Cakes, the British family-owned company exporting all over the United States
Lancashire Eccles Cakes Ltd is a family-owned company set up in 1979 by the Edmonds family, who have been involved in the making of Eccles Cakes since the 1930s. The company produces the leading brand of handmade Eccles Cakes, ‘Real Lancashire Eccles Cakes’.
The bakery, located in Manchester, North West England, is a modern custom built facility designed solely for the manufacture of Eccles Cakes and is fully accredited to Grade ‘AA’ BRC certification. The company employees 50 highly skilled people, with most staff living within the local area, and sell across the UK, North America, Canada and Worldwide.
Real Lancashire Eccles Cakes are handmade and consist of a mixture of the finest Greek Vostizza currants, raisins, butter and sugar enclosed in a shell of flaky, buttery pastry. The cake is round and fairly flat in appearance and they are packed in traditional packaging. Their manufacture is very labour intensive as each one is made by hand.
They were outlawed in Eccles England in 1653 by the Puritans under Oliver Cromwell's protectorate, because they were considered too damn good, frivolous and secretly pagan! Created in the township of Eccles (whose name means 'Church') in celebration of religious holiday feasts, the puritanical residents and visitors alike in the Lancashire settlement were jailed if found eating a delicious Eccles Cake! Now legal, today's Eccles Cakes are meant to be shared with good company, served with warm conversation and a nice hot cup of British tea!
In over 10 years and with support from the Department of International Trade, sales have been achieved in the US through recognised Retail Partners in Food & Drink distribution on both East and West coast US with recent inroads into Florida. Achieved through organic growth over this time, e-commerce is now more prevalent with one of our US partner's sales being over 40% online. The company makes and dispatches around a quarter of a million individual cakes to US and Canada in a year.
To meet the increasing demands of the FDA and new regulations we took the step to enter into the voluntary FSMA module ahead of time and passed with flying colours. This now gives our partners added confidence that all current statutes remain up to date.
Famous people eating Eccles Cakes are former UK cabinet minister Michael Portillo who visited our factory for the BBC TV series “Great Railway Journeys” as the 1
st episode was from Liverpool to Eccles - Michael was speechless with the quality – not bad for a politician! As this is syndicated worldwide, we often get mail from the US (and not just expats) wanting to savour our wonderful confections.
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Events, Meetings and Initiatives
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BAB Director of Policy and Trade, Emanuel Adam, joined CLA and Saffery at Manchester seminar "Doing Business in the US"
On Tuesday, January 16th, BAB Director of Policy and Trade Emanuel Adam, joined Saffery Champness and CliftonLarsonAllen who hosted a seminar in Manchester on 'Doing Business in the US'. Offering a range of experts, the seminar provided local company representatives with an update of the opportunities in the US market and relevant information on how to make US expansion a success.
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BABC Michigan Annual North American International Auto Show Preview Cocktail Reception
On Tuesday, January 16th, Butzel Long, together with BABC Michigan and in partnership with FACCMI, hosted a reception in the Butzel Long Detroit Office on the International Auto Show Preview, offering superb views over the Detroit River.
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TAG Awards Networking Reception
On Wednesday, January 24th, BAB London hosted a TAG Awards networking reception at the Grange Hotel, St Paul's with a great panel including Priya Mande COO, Psioxus, Brett Haase, Co-founder, Peapodicity and Francois Martelet, CEO Net Scientific. The panelists shared their transatlantic experiences and insights with the audience. BritishAmerican Business is delighted to have Barclays as a Title Sponsor for the Transatlantic Growth Awards. For more information visit
www.babtagawards.com
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Imports and Exports Update
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Follow Sietske de Groot on Twitter
@Sytsque
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A Single Brexit Moment for Business?
Businesses have been promised one moment of change, enabling them to adjust to a new legal environment only once. But when will this be? Will it happen? And when will we know?
TradePeers
’
Sietske de Groot
sheds light on the talks on transition.
If negotiation of an
implementation
or
transition
period
is successful, Brexit day can go unnoticed. This is because the EU and the UK want a ‘status quo’ transition whereby nothing changes. Buying solar panels in the UK, or importing wine from Italy on 29 March 2019 will be exactly the same as on 30 March, 14 April or 27 November. At least that is the plan.
The EU and the UK agree for most parts on a transition period. Yet, its inglorious start on 30 March 2019 is not set in stone. This is why.
First, the parties have to agree on whether the end date of the transition period is flexible or fixed. During this time an EU-UK Free Trade Agreement will be negotiated. This is estimated to be finalised sometime in 2021. If the transition expires before the deal is fully ratified, businesses will be left in legal limbo. From the expiry date until the trade agreement is in effect, WTO rules will apply where they exist. After that, the new terms will be adopted. This defeats the entire purpose of creating one moment of change and so I don’t expect this to happen.
Second, a ‘status quo’ transition is not as simple as it sounds. All Single Market rules and European Court rulings will be copied and pasted to create the perfect replica of the EU Single Market. However, the EU’s 54 Free Trade Agreements with e.g Canada and Singapore, and some 750 international agreements, are not easily copied, as also non-EU countries are involved. Yet, the majority of international agreements are vital for the functioning of the Single Market. The most well-known example is aviation. The European Common Aviation Area and the Open Skies agreement ensure that UK airlines can fly to, and from, any point in the EU and the US.
Finally, a customs arrangement is not straightforward either. For example, the UK being outside the EU after March 2019 poses problems for the ‘rules of origin’.These rules determine the origin of a product and assign preferential trade terms to it. If, say, car parts come from the UK and the UK is outside the EU, the assembled car may no longer be said to be produced in the EU. This has implications for trade rules and tariffs.
This all means that a single change-over date for business depends on whether a Free Trade Agreement materialises in time, and if not, whether there is flexibility to extend the transition period. It also depends on whether legal experts can square the circle of copying and pasting international agreements into a transition deal, and whether the parties agree a customs arrangement that is identical to the current EU Customs Union. All this has to be solved by autumn this year.
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EU GDPR with the US Commerce Service
Organised by BABC Philadelphia
14th February, 8.30 am - 11.30 am
Location: 510 Walnut Street, Mezzanine Level Philadelphia, PA 19106
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SME Forum Setting Up Shop 2: Breaking Ground in a New Market
Organised by BAB New York
21st February, 8.00 am - 10.00 am
Location: New York
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Networking Luncheon with the First Minister of Wales, Rt. Hon Carwyn Jones AM
Organised by BABA
26th February, 12.15 pm - 2.00 pm
Location: Eversheds Sutherland 700 Sixth Street, NW Suite 700 Washington, DC 20001
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2018 Funding, Exits & IPO
Organised by BABC Northern California
28th February, 5.30 pm - 8.30 pm
Location: Quadrus Center, 2400 Sand Hill Road, Menlo Park, CA
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Fly to Buy Grant Scheme for Delegations flying to the UK for the International Business Festival 2018
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The International Business Festival is the biggest event of its kind in the world. The festival connects globally ambitious business with influencers, innovators and industry leaders.
The Festival recently launched the Fly to Buy Grant Scheme which aims to support overseas buyers and investors attend this year’s event by offering a select number of eligible delegates a contribution towards travel, accommodation and other Festival related costs.
For more information, please click
here
or contact srizzo@babinc.org
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International Business Festival 2018 announce speaker programme
The International Business Festival has announced the first wave of speakers, sessions and sponsors. The event, which to date has delivered over half a billion pounds of trade and investment for the UK, will be held once again in Liverpool in June 2018.
The programme will run on the Festival’s Futures Stage, a platform for lively debate and expert insight. Each speaker will bring a unique perspective on the challenges and opportunities facing business, and how to drive growth and innovation. More speakers and session information will be released in the lead up to the beginning of the Festival on 12 June 2018.
For further information, please click
here
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TransAtlantic Growth Awards Night 2018
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TAG Awards entry has now closed, but there is still time to secure your place at our biggest ever networking party at the Grange St Paul’s Hotel on March 15
th where our lucky winners will be announced.
BAB London’s TAG Awards are aimed at SMEs, and the Awards Night will bring together SMEs from across the US and UK to celebrate the essential role they play in making the Transatlantic trade and investment relationship the most successful on earth.
Join us, our unrivalled network of transatlantic corporate members, and SME Award entrants for a night of celebration, drinks and networking – kindly sponsored by Barclays (Title) and Delta Virgin (Gold).
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Invest in America! Summit
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Join global investors and US stakeholders at the 3rd Annual Invest in America! Summit to discuss the benefits and challenges of foreign investment in the US. This event will facilitate new partnerships by convening private and public representatives from over 40 states and 50 countries with investors looking to participate in the enormous and diverse growth-oriented American economy. Please register
here
The conference is being organized by the US Chamber. Please reach out to Carolyn Morris at
cmorris@uschamber.com
if you have any questions.
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Department for International Trade, UK Trade Mission to New York City for NY FinTech Week
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The Department for International Trade is proud to present the second Mission to NY FinTech Week on 16th - 20th April, 2018. This mission offers UK FinTechs the opportunity to showcase their expertise to the US market, as well as engage with US regulators and gain insight into overcoming barriers to doing business overseas.
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Learn more about BAB and BABC
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If you are
interested in joining BAB or any chapter of the BABC network spanning the UK and North America, please get in touch at
www.babc.org.
To stay up to date on relevant policy issues concerning the transatlantic business community contact Theo Bachrach at tbachrach@babinc.org to sign up for the BAB/BABC Policy Update.
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