US-European trade the subject of discussion
THE Midlands chapter of the British American Business Council is organising a free event on to discuss the economic relationship between the US and the 27 countries of the EU.
Almost one third of all global trade and more than 50% of global GDP are undertaken between these countries. EU-US trade is worth around £393bn a year, but barriers are perceived as hindering the emergence of a free transatlantic marketplace.
Cassie Muir of the British American Business Council Midlands said a proposed trade deal could be of huge benefit to businesses on both sides of the Atlantic.
She said: “Bringing down stubborn tariff and non-tariff barriers to trade and investment and aligning our regulatory frameworks would boost our joint economies.
“Another example is found in the car industry, where the EU and the US employ equally strict – but differing – safety standards, meaning that European car makers must meet both before they can sell cars in the US market, putting them at a disadvantage.
“A trade agreement could add billions of pounds of investment to the already massive trade and investment relationship shared between Europe, the UK and the United States. The EU estimates that a comprehensive and ambitious agreement will boost annual GDP growth by 0.5%.”
Peter Chase from the US Chamber of Commerce in Brussels and UK Trade and Investment regional director Paul Noon will be key speakers at the event on March 7. They will join speakers from KPMG, BT, UPS and the Greater Richmond Partnership, local and national MPs, logistics operators and SMEs.
The event, organised with Birmingham Chamber of Commerce Group, the European Enterprise Network and UK Trade and Investment, will be held at law firm Squire Sanders’ Birmingham office.
