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PM hosts investors in NYC | CETA to boost UK trade | GREAT Festival of Innovation

Prime Minister hosts US investors In New York
Last week the Prime Minister hosted a roundtable event, “Investing in Success”, at WeWork in New York. WeWork is an American collaborative workspace company that has expanded to 26 UK locations since 2014, and recently announced its intention to double its numbers in London and open new sites in Manchester
The Prime Minister told investors that the UK’s economy is strong, dynamic and booming with potential. Since the vote to leave the EU in June 2016, there have been 482 investment projects from the US, at an estimated value of £15.5 billion, creating or safeguarding about 25,000 jobs.

EU-Canada Comprehensive Economic and Trade Agreement
Last Thursday 21 September, the new EU-Canada Comprehensive Economic and Trade Agreement (CETA) came into effect. UK businesses can now take immediate advantage of the removal of 98 per cent of tariffs on goods and services, making it easier and cheaper to export goods and services between the EU and Canada.
International Trade Secretary, Liam Fox, said: “[This] is also an important blueprint for what our future trading relationship with Canada could look like.” The UK exported more than £7 billion worth of goods and services to Canada in 2015 and is also Canada’s sixth largest source of goods imports.
UK government will host a GREAT Festival of Innovation in Hong Kong
Last week International Trade Secretary, Liam Fox, announced that the government will host a GREAT Festival of Innovation in Hong Kong in March 2018 to showcase the power of UK innovation and technology to the world. The GREAT campaign has already secured economic returns of £2.7 billion for the UK and is active in more than 144 countries worldwide.
There is a historic connection between Hong Kong and the UK which has led to both strong cultural and trade ties. Total bilateral trade between the UK and Hong Kong reached £17.3 billion last year, an increase of 4 per cent on 2015.

Thursday 28 September 2017

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