Maritime UK in New York to strengthen transatlantic relationship

Maritime UK in New York to strengthen transatlantic relationship

Secretary of State for the Department of International Trade, Dr. Liam Fox, joined Maritime UK aboard HMS Queen Elizabeth, for the inaugural ‘Maritime Nations Forum’ between the UK and US.

HMS Queen Elizabeth, the largest and most powerful vessel ever constructed for the Royal Navy, and RMS Queen Mary 2, the flagship of Cunard Line, are in New York harbour together.

Delegation visits as US administration formally confirmed it intends to pursue a trade deal with the UK “as soon as it is ready” after leaving the EU.

A delegation of business leaders from the UK maritime sector visited New York this week accompanied by the Secretary of State for the Department of International Trade, Dr. Liam Fox.

The British maritime leaders met with an American delegation aboard the HMS Queen Elizabeth at the inaugural ‘Maritime Nations Forum’ between the UK and US. The US delegation featured major names from the New York maritime scene – lawyers, bankers, shipbrokers, insurers, technologists – and leaders from the wider United States.

The maritime delegation arrived at a pivotal time in the negotiations on the UK’s departure from the UK. With the UK’s Department for International Trade consulting on a new free trade agreement with the US, the scope of that trade deal will depend on the terms deal agreed with the EU.

The US administration formally confirmed it intends to pursue a trade deal with the UK “as soon as it is ready” after leaving the EU.

As a single country the US is the largest export market for the UK, while as a supplier of goods and services to the UK, the US comes in second. The UK is also an important trade partner to the US. For both imports and exports it ranks second behind the immediate neighbors, Canada and Mexico.

This interconnectedness extends beyond goods and services, to include foreign direct investment (FDI). For Britain,  the US is the largest single source of FDI, whilst the US is also the largest destination for FDI by British firms. Equally, The UK is ranked second as a destination for American companies to invest, accounting for 13% of the total foreign investment by US companies. On Friday (19 October) US giant, Amazon, announced it was creating 1,000 new jobs in the UK.

Many of the companies on the UK delegation were involved in delivering the HMS Queen Elizabeth aircraft carrier, currently in the US for tests with the US F-35 fighter jet. Carnival Corporation and PLC, owner of Cunard’s RMS Queen Mary 2 is the only company in the world to be listed on both the S&P 500 and FTSE 100 indices. Both ships therefore symbolise the breadth and strength of the transatlantic relationship.

Commenting ahead of the visit, David Dingle CBE, Chairman of Maritime UK and Carnival UK (which owns the Queen Mary 2), 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 the maritime partnership that underpins it.

“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 the biggest ever London International Shipping Week in 2019.”

Liam Fox, Secretary of State for the Department of International Trade, said:

“The UK and US are steadfast maritime partners, symbolised by the presence of the HMS Queen Elizabeth in New York today.

“My international economic department will continue to work with Maritime UK to encourage investment into our maritime sector, whilst providing a wealth of export support for our hard-working British businesses.”

Julian Clark, Global Head of Shipping at Hill Dickinson, who led the delegation, added:

“We are delighted to be in New York at such a key moment in our nations trading history and development, with such a symbolic backdrop. The Queen Elizabeth and Queen Mary well and truly demonstrate the breadth and capacity of UK Maritime far better than any brochure or presentation. They also signify our ambition and clear intention to strengthen the transatlantic relationship.

“In particular, London and New York, as the two leading financial centres in the world, are connected unlike any other. In meeting with our counterparts here today we are stepping up our dialogue and looking forward to greater collaboration and exchange in order to deliver mutual gain and opportunity.”

ICYMI: Brexit is an opportunity to strengthen our trade links with the US

On October 22nd we will join UK Secretary of State for International Trade, Dr. Liam Fox, aboard the HMS Queen Elizabeth aircraft carrier to launch the Maritime Nations Forum with our U.S. counterparts. We will be joined alongside by British icon, the RMS Queen Mary 2. These ships symbolise both the closest commercial and security links to be found between two nations, and the UK’s world-class maritime capability – from engineering and training to professional services.

 

Whilst the European Union is our largest trading partner, the United States is our largest single nation trading partner. Whereas we expect a mutually beneficial deal with the EU to be agreed imminently, we are equally ambitious for the UK to enhance its role as an outward-looking, global trading maritime nation.

 

That naturally includes reappraising and recommitting ourselves to the transatlantic trade and investment relationship between Britain and the United States. Our delegation’s mission is to explore opportunities to strengthen our relationship with this natural partner.

 

The UK maritime sector is the fundamental enabler of Britain’s global trade. The sector adds £37.4 billion to UK GDP and supports just under 1,000,000 jobs.

 

Not only do we facilitate the flow of goods in and out of our island nation; linking to global markets, but we are also, in many ways, the world’s maritime centre. With cutting-edge technology, high-quality design & manufacturing, unparalleled expertise in services and major investment opportunities, the UK is the natural home for global maritime business.

 

Just as we’re committed to promoting our offer, we’re committed to working with government to ensure that the UK’s pitch is as compelling as possible. To that end, we are working on a sector deal as part of the government’s industrial strategy, to maintain and grow Britain’s position as world-class, competitive, agile maritime centre.

 

The Sunday Telegraph: Brexit is an opportunity to strengthen our trade links with the US 

 

Read more

David Dingle and Liam Fox: Maritime ties pave the way for an even closer US-UK trading relationship

The United States and the United Kingdom are, and long have been, two countries divided by sea but united politically, culturally, economically and militarily.

Today we are in New York to ensure a prosperous future by strengthening what Winston Churchill dubbed the “special relationship”. We will do this by affirming our joint commitment to free trade, which is perhaps the point on which our two great countries agree with the greatest strength of conviction. Both the UK and the US have long intuited the value of the free trade of goods and services, and its implications for prosperity, culture and diplomacy.

We trade more with the US than any other country. Every day, a million British nationals go to work for American companies in the UK — and a million Americans go to work for British companies in the US. The UK and the US are the largest investors in each other’s economies, with over $1 trillion invested in total.

 

C apX: Maritime ties pave the way for an even closer US-UK trading relationship

David Dingle: In a changing world, an Anglo-American free trade relationship can be an example to all

To say the world is changing might strike one as a banality, but it’s nonetheless true. Few can fail to notice or appreciate the ways in which recent developments in the field of technology have disrupted the business landscape and changed the ways in which we live, work and interact. Political shifts, meanwhile, and tougher economic conditions, have spurred and stimulated debate over the best way to grapple with new challenges and seize opportunities—for those ready and willing to do so.

Through it all, the British-American “special relationship” endures. It’s a well-worn phrase, but one that denotes more than 200 years of stability and mutual success. Through a shared commitment to liberal democratic values, and a desire for security and progress, the partnership between the U.K. and the U.S. has flourished. In fact, the U.K.-U.S. economic relationship is by the far the largest between two sovereign states: the investment made by each in the economy of the other amounts to over a trillion dollars; no other bilateral relationship comes close. Transatlantic trade has brought to the shores of both countries peace, economic prosperity and cultural enrichment. Indeed, the very embryo and basis of Anglo-American relations is trade: the principle of respectful commercial exchange that, when looked at globally, lifted a billion people out of poverty between 1900 and the turn of the 21st century. Business, and the trade that is a natural by-product, is a force for good in the world; it is business that funds innovation, creates jobs and drives prosperity, and no one does it better than these two great nations. This Atlantic union transcends politics, parties and individual leaders. Always, our two countries have found common ground.
T he Hill: In a changing world, an Anglo-American free trade relationship can be an example to all

Reception: Thursday, 1 November

  • Student finalists will present their research
  • Attendees will vote for winning research
  • HRH The Princess Royal will award winning prize
  • Next Maritime UK Chairman announced

Maritime UK’s Maritime Masters programme is strengthening links between UK industry and academia. The programme promotes academic excellence amongst students and their universities, whilst providing valuable research to support the maritime sector’s work.

Students have adopted research topics proposed by industry as their Masters Dissertation thesis and will have the opportunity to present their findings to industry leaders at this high-level event on completion of their studies. Industry leaders will vote for their winning research, and that student will win a cash prize. Participating students will be able to gain work experience opportunities within industry.

The University courses chosen represent a broad overview of UK academic abilities. The courses identified will range from naval architecture to maritime economics, ship management to shipping law. The research projects, which will be tailored by University academic staff, will be related to contemporary issues concerning the UK maritime sector and its position within the global maritime environment.

Meet the finalists:

Sabrina Fan, University of Plymouth

Tessa Jones, Queen Mary, University of London

Hazel Bryan, Liverpool John Moores University

Momchil Terziev, University of Strathclyde

Hongseok Bae, University of Southampton

Francesc Gomis Domenech, Newcastle University

Rico Salgmann, Cardiff University

Taejun Bang, Cass Business School

Register here

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