Last week I had the pleasure of being a guest at both the House of Lords and the U.S. Embassy. Breakfast overlooking the Thames was part of a Parliamentary Trade reception hosted by the British Chambers of Commerce at the House of Lords to celebrate International Trade week, and to help launch the British Chambers of Commerce Trade Manifesto.
We heard from both the Minister of International Trade Nigel Huddleston MP as well as the Shadow Minister for Exports Afzhal Khan MP both of whom had much to say about the UKs prospects over the coming months and years as well as the role businesses had to play. It was a great experience to be in the same room as so many other businesses and organisations, all passionate about building the UK’s global trade.
The whole room was aware of the challenges faced and though there was good news such as new trade agreements being reached with Japan and the Trans-Pacific Partnership, Afzhal Khan MP was perhaps more in touch with the mood of the room with the simple statement that “there’s work to do and I’m here to listen and work with you”.
The Chamber Manifesto itself was a big topic of conversation at the event, in particular their recommendations to increase trade for the UK relating to ecommerce:
Assemble a coalition of likeminded partners at the WTO to reach a mutually beneficial agreement on e-commerce. Progress was reported in January 2023 by the co-chairs of the Joint Initiative on e-commerce at the WTO: Australia, Japan and Singapore. We now need to reach tangible outcomes to boost e-commerce trade in goods.
After breakfast it was time to head to the U.S. Embassy for a tour and a meeting with Brenda van Horn and Leah Kolhoff with the U.S. Department of Commerce. It was a fantastic opportunity to get to know more about their work and current priorities for further international trade and development.
Aside from seeing some of the incredible artwork they had on display and hearing about their day-to-day work, including a reception that evening for Women in the Space Industry we also heard more about the Memorandum Of Understandings (MOUs) between the UK and various U.S. States.
Brenda van Horn admitted that she wasn’t sure about what the MOUs really meant initially “so what I thought?” however since they have begun, she’s noted two interesting developments from them; firstly, that they allow for state certifications and UK certifications to be held equal between the UK and state jurisdictions. This allows for easier travel and work, as well as allowing services to be traded more easily. The second aspect was one that was becoming increasingly important which was simply that having an MOU in place seemed to make businesses feel more comfortable working with each other across national borders, and the increased publicity helps to raise awareness of the opportunities available.
So what’s the takeaway other than that if you get the chance to see inside the US Embassy, it’s well worth the visit? Fundamentally International Trade is a lot like these chances to meet face-to-face with people at real life events. Technical, legal, and business aspects must in place for it to be productive, and for there to be the chance to make business happen, but familiarity and relationships are what people need to make them comfortable, and as always people buy from people.