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Brexit Anniversary | UK and U.S. Trade Ministers meet | Startups storm Africa

Brexit Anniversary roundup
Last week saw the UK mark one year since the historic Brexit vote and the start of talks in Brussels. The Queen’s Speech on 21 June revealed a host of proposed new laws designed to prepare the UK for a smooth exit from the European Union, and of 27 bills eight related to Brexit. New measures will allow the UK to develop an “independent trade policy” and make changes to VAT and excise rates currently determined by the EU.
Five major UK business bodies came together ahead of talks to highlight the strong sentiment to secure access to the EU Single Market. In a letter to Business Secretary Greg Clark, the British Chambers of Commerce, Confederation of British Industry, EEF, Federation of Small Businesses and Institute of Directors asked the government to “put the economy first.”

The International Trade Secretary meets U.S. Trade Representative
Last week the International Trade Secretary, Dr Liam Fox, and U.S. Trade Representative, Robert Lighthizer, met to discuss the two countries’ strong bilateral trade relationship. The visit was the first international trip for the UK Trade Secretary since the general election.
Both Ministers committed to strengthen economic links between the UK and U.S. including prospects for a new trade agreement post Brexit. Trade between the two powerhouses is already worth about $230 billion a year, the U.S is the single largest source of inward investment into the UK, and combined there is around $1 trillion invested in each country’s respective economies.
Startups take Africa by storm
As Africa’s startup scene gains momentum, the latest issue of DHL Delivered looks at how rising investment, along with entrepreneurs creating business solutions to meet Africa’s unique challenges, is encouraging the new movement.
Across Africa the vibrant startup scene is transforming economies and lifestyles. Tech startups alone raised $129 million in Africa during 2016, representing a 16.8 per cent rise in the number of successfully funded startups from 2015.
While South Africa, Nigeria and Kenya are the continent’s three most popular investment destinations, entrepreneurial growth is becoming evident everywhere. Increasing activity has been seen in other countries such as Egypt, Ghana, Rwanda, Morocco, Tunisia, and Zimbabwe.

Thursday 29 June 2017

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