United Kingdom

US trade for Scotland as Aberdeen hosts second transatlantic dialogue

  • The Secretary of Commerce welcomes his Thai counterpart, Aberdeen, to discuss transatlantic trade for the rest of Scotland and the rest of the UK.
  • The talks focus on key areas of the Scottish economy, bringing together iconic Scottish businesses, including Walker’s Shortbread, innovative energy SMEs, and Enpro-Subsea.
  • Figures show that US investment is supporting more than 100,000 jobs and generating around 50 50 billion for the Scottish economy.

On Monday (April 25), the United Kingdom will host the second transatlantic trade dialogue in Aberdeen, aimed at boosting our 200 200 billion trade partnership with the United States.

Against the backdrop of Aberdeen’s booming technology և world-leading energy sector, the dialogue will focus on agreed priority areas, including digital, innovation, green trade, SME support և supply chain flexibility.

The latest figures show the importance of transatlantic trade for Scottish workers, businesses and industry.

  • The United States accounts for almost a quarter of the country’s exports of services
  • Scotch whiskey exports continue to play a significant role in the UK-US trade, with almost two-thirds of US beverage exports coming from Scotland.
  • The United States is Scotland’s number one foreign investor, according to EY
  • US-owned businesses support more than 100,000 jobs, generating about 50 50 billion for the economy

Ann-Marie Trevelyan, Secretary of State for International Trade, will discuss the potential of trade to create jobs and expand economic opportunities in the UK, which is a key part of our alignment agenda.

The dialogue will invite leaders from across Scotland, central and local government, a wide range of businesses, as well as trade unions and civil society groups such as the Congress of Trade Unions.

Secretary of International Trade Ann-Marie Trevelyan said.

This dialogue gives us a platform to explore more modern, digital ways of trading. It will identify barriers to trade to make it cheaper for businesses in Scotland and across the UK to do business with our friends in the United States.

As two of the leaders in green innovation, it also enables us to use trade to address common challenges such as climate change.

The Secretary of Commerce met with Scotland’s food and beverage executives on Sunday evening (April 24), including Walker’s shortbread և Clootie McToot.

Among those in attendance was Brown-Forman, a US-based alcoholic beverage company owned by Scotland’s GlenDronach and Benriach’s three best distilleries, Glenglassaugh, which employs hundreds of people in the UK. The company welcomed the elimination of US whiskey tariffs due to the recent settlement of the S232 steel և aluminum tariff dispute, and revealed that it now plans to invest multimillion pounds in its Scottish enterprises.

Prior to the dialogue, Trevelyan և Thai will visit the offshore energy SME, Enpro-Subsea Aberdeen, where Trevelyan will outline the UK’s energy strategy for energy security and independence, while supporting the transition from fossil fuel to new technologies. The company demonstrates that achieving our environmental goals must go hand in hand with the growing North Sea industry.

Dialogue discussions will provide a solid foundation for further engagement with the United States. This includes ongoing work at the state level, such as mutual recognition of qualifications, as well as the removal of barriers to trade.

The government has already helped lift the UK’s ban on lamb and beef exports, and the dispute over the Great Patriotic War, which has lifted a 25 per cent tariff on Scotch whiskey, which has been a major win-win for Scottish producers and exporters.

The Minister for Scotland of the British Government, Ian Stewart, said:

We are pleased to host today’s talks in Aberdeen, which marked a positive shift in our already strong trade relations with the United States. Improving our partnership in Scotland will create new high quality opportunities for businesses, including our thriving food, beverage, technology and energy sectors.

At a time when we face enormous global challenges, joining our friends in the United States to remove barriers, improve communication, encourage new, innovative ways to work together will support jobs across Scotland and beyond, benefiting businesses of all sizes.

The General Director of the British Chamber of Commerce, Shawn Hillland, said:

The United Kingdom and the United States are natural trading partners. These dialogues are an opportunity to build on these relationships and set new ambitious standards for sustainable trade. In a changing, uncertain world, we must also seize this opportunity to strengthen the flexibility of our supply chains and stabilize prices.

Smaller businesses make up the majority of our membership, the UK economy, so it is vital that they have a voice in these negotiations so that they can reap the benefits on both sides of the Atlantic. Breaking the Supply Chain և Rising inflation has reduced the operating margins of many small companies to almost nothing, so reducing trade costs with the United States will be a huge boost for them. It will then help UK communities see the benefits of improving trade with the United States.

Alan Hogart, CEO of the Scottish North American Business Council (SNABC), said:

SNABC is looking forward to attending the Aberdeen meeting of the Transatlantic Dialogue, building on the success of last month’s Baltimore session. These discussions will cover the vital sectors of the economies of Scotland, Great Britain and the United States. This is a great opportunity to make sure that Scottish voices are heard in this, our only major export market, to try to make it easier for all of us to prosper. ել Strengthen transatlantic relations for our mutual benefit.

Background:

  • According to EY, the United States had the largest investment in Scottish FDI projects in 2020. The 38 investment projects from the United States accounted for 35.5% of all projects in Scotland in 2020. EY’s Attractiveness Survey Scotland, June 2021

US trade for Scotland as Aberdeen hosts second transatlantic dialogue

SourceUS trade for Scotland as Aberdeen hosts second transatlantic dialogue

Back to top button