HMS Queen Elizabeth hosts UK-US international trade day in New York

HMS Queen Elizabeth hosts UK-US international trade day in New York

The event takes place days after US treasury secretary, Robert Lighthizer, informed Congress that the US intends to negotiate a trade agreement with the UK after it leaves the EU.

The Department for International Trade (DIT) will host a roundtable which will see a number of the UK’s world-leading cyber companies have the chance to present their technology and software to a group of US Fortune 500 companies at a roundtable, in an effort to secure fruitful new deals. UK businesses such as Garrison, iProov and Tessian will attend the event, all of whom have secured business in the US in recent months.

Dr Fox will speak at the event, highlighting the UK’s ability to counter significant cyber threats as they continue to grow from overseas.

He will then announce the founding of a sub-committee of the Board of Trade which will look specifically at cyber, how UK companies can increase their exports in the sector and how UK-US collaboration can help tackle increasing online threats.

Capitalising upon the nautical setting, Dr Fox will join Maritime UK at the first Maritime Nations Forum between the UK and US, focused on strengthening maritime trade and relations between the two countries.

International trade secretary, Dr Liam Fox MP, said: “The United States is one of our closest allies, our largest single bilateral trading partner and we will see that bond continue to strengthen as we leave the European Union.

“This ‘trade day’ will see some of the UK’s most innovative businesses meeting with their US counterparts as we continue to combat growing overseas cyber threats together.

“My international economic department is currently consulting on a potential future free trade agreement with the US, and I would strongly encourage British businesses and the public to make the most of this opportunity to share their thoughts on how this deal should look.”

The Forum will celebrate existing links and identify areas for further partnership and collaboration.

UK businesses attending include shipowners, law firms, port operators, manufacturers, technical consultancies and training colleges. Some of whom were involved in delivering the HMS Queen Elizabeth project. 

Maritime UK chairman, David Dingle, said: “The UK and US have a strength of relationship like few others – based upon freedom, trade and prosperity. 

“With the US being the largest single nation trading partner for the UK, it is logical that we proactively recommit ourselves to boosting that trading relationship and our maritime partnership. 

“Britain is an island, maritime nation, with 95% of global trade being facilitated by the maritime sector. 

“The inaugural Maritime Nations Forum aboard the HMS Queen Elizabeth will allow our two nations to think creatively about new opportunities to deepen our partnership and to collaborate. We are looking forward to strengthening our special relationship, and will welcome a US delegation to the UK to join us for London International Shipping Week in 2019.” 

The trade day will conclude with a celebration of some of the UK’s hard-working businesses who are currently operating in the US.

A number of British companies will be presented with prestigious Board of Trade Awards by the Secretary of State, recognising their successful export activity.

Winners of the Board of Trade Awards come from a broad range of sectors, from life sciences, to the space industry and food and drink. Combined, they export their goods and services across the planet and even into space, representing the best of British innovation and entrepreneurship.

Trade between the UK and the US totalled £180.6bn in the year to June 2018, making the US the UK’s single largest trading partner and export market.

British companies currently export £1.8bn worth of cyber goods and services to the US every year, making it the largest market for their products. The UK’s recently launched Cyber Export Strategy made a commitment to create a specialised cyber role based in the US, and DIT has just launched recruitment for this.

Also happening onboard is the inaugural meeting of the ‘Atlantic Future Forum’ to discuss the trend of innovation that both the UK and US are seeing in the cybersecurity and artificial intelligence (AI) sectors.

Published: 22 October 2018

Article by Neina Sheldon
Share Article