BABC Policy and Trade Focus - December 2015
Policy and Trade Focus
'Open for Business': Event series on TTIP in the UK
The BABC has been active in supporting 'Open for Business' a series of industry specific events led by BritishAmerican Business (BAB) in London, with the objective to explore the changes and opportunities that a successful and comprehensive trade and investment partnership (TTIP) agreement can bring to leading UK industry sectors, in particular in regards to the scope and sector-specific content of the agreement. The Open for Business initiative aims to build a nation-wide sector case for TTIP and UK-US trade and investment that will help contribute to the debate in the UK and beyond. BABC chapters have been directly involved in organising events.
Events were held in Runcorn (Chemicals), Leicester (Food&Drink), Oxford (South East) (Life Sciences) and Gaydon (West Midlands) (Automotive).
Additional Details on Open for Business:
Access the published 'Open for Business' summary publications for Chemicals, Food&Drink and
'Providing a Transatlantic Voice for Britain' - BAB's 1st Policy Manifesto launched
On November 12, 2015, BAB launched its 1st Policy Manifesto 'Providing a transatlantic voice for Britain with an open letter from BABC's CEO, Jeffries Briginshaw, to the UK Prime Minister, The Rt Hon David Cameron MP. The Policy Manifesto is the result of a consultation process with member companies and BABC chapters. The publication features eight topics affecting the future position of the UK as a relevant destination for transatlantic business. To download the publication, please click here.
BAB NY Policymaker Roundtable with Matthew Barzun, US Ambassador to the UK, and Sir Peter
Westmacott, UK Ambassador to the US
On November 20, 2015, BAB NY held a roundtable with Matthew Barzun, US Ambassador to the UK, and
Sir Peter Westmacott, UK Ambassador to the US to discuss the promotion of shared valued, rules and rights.
BAB and BABC joint statement to mark UK Trade & Investment 'Export Week'
On November 12, 2015, BAB London and the British American Business Council released a statement to celebrate the importance of the US as a premier destination for UK exports.
BAB NY Washington Insight: 'Data & Privacy'
On November 5, 2015, BAB NY held a discussion with Zoe Strickland, Global Chief Privacy Officer, JP Morgan Chase, Peter Swire, Former White House Privacy Czar, Mona Vernon, VP, Data Innovation Lab, Thomson Reuters to discuss the nexus between data use and privacy between the US and the EU.
BAB London discussion with Andrew Keller, Deputy Assistant Secretary for Counter Threat Finance and Sanctions
On October 28, 2015, the BAB Policy group hosted DAS Keller for an informal breakfast discussion on the Iran and Russia sanctions.
BABC NE CEO Series 'Is the UN Security Council still relevant?'
On October 26, 2015, BABC-NE hosted Ambassador Matthew Rycroft, the new Permanent Representative of the UK to the UN. Ambassador Rycroft briefed an audience of globally-minded business people on the hot international foreign policy and security issues currently under discussion, the UN's responses, and the impact of changing world dynamics on international diplomacy.
BAB London discussion with Leigh Feldman, Global Chief Privacy Officer, Citi
On October 20, 2015, the BAB Policy group hosted Global Chief Privacy Officer at Citi, Leigh Feldman, to discuss the nexus between data privacy and information security, with special emphasis on the recent European Court of Justice's decisions to render the 'Safe Harbour' Programme invalid.
BAB letter to Commissioner Cecilia Malmström and United States Trade Representative Michael
Froman on TTIP
Ahead of the 11th TTIP negotiation round, BAB London sent a letter to Commissioner Cecilia Malmström and United States Trade Representative, Ambassador Michael Froman, describing how a popular British pork pie can visualize the real need for a comprehensive transatlantic trade and investment partnership agreement.
BAB NY Cyber Security Roundtable: 'Competition and Collaboration in the Face of Global Threats'
On October 13, 2015, BAB New York hosted a roundtable dinner for a discussion led by Bill Sweeney, Financial Services Evangelist at BAE Systems, Richard Jacobs, Head of NY Cyber Office, FBI and William Pitt, CMO, Beazley Group. The topics addressed included proactive best practices and solution-driven measures to address converging threats.
BAB statement on conclusion of Trans-Pacific Partnership (TPP) negotiations
On October 7, 2015, BAB welcomed the conclusion of negotiations for the Trans-Pacific Partnership (TPP) agreement, the largest regional trade agreement in history concluded by the US and 11 nations from the Asia Pacific Region.
BAB statement on the European Court of Justice (ECJ) decision to declare the European
Commission's (EC) US Safe Harbour Decision Invalid
On October 6, 2015, BAB expressed its concern about the potential disruption to business and the transatlantic economy by the European Court's ruling on the Commission's Safe Harbor Decision.
BAB London submission in response to a call for evidence by the Migration Advisory Committee
(MAC) on a UK government review of the Tier 2 route
On September 25, 2015, BAB submitted a response to the Migration Advisory Committee (MAC) on the current review of Tier 2. Leading to the submission, BAB members met with UK and US government to discuss the issue. To read the press release on the topic, click here.
BAB London Forum with Commissioner Kara M. Stein, US Securities and Exchange Commission
On September 9, 2015, BAB in collaboration with BAB member Institute of Chartered Accountants of England and Wales (ICAEW), hosted the commissioner to discuss risks and opportunities associated with digital disruptions and the role of regulation.
BAB London Policymaker Roundtable with Alan Yarrow, Lord Mayor of the City of London
On September 9, 2015, BAB hosted with Alan Yarrow, Lord Mayor of the City of London who gave a keynote on "The Future of London as a Global Financial Centre".
11th Round of TTIP negotiations
The eleventh round of TTIP negotiations in Miami saw representatives from both sides agree on the mutual elimination of 97% of tariffs, including zero duties for most product lines upon entry and enforcement of the agreement. Negotiating parties also focused on the chapter on small and medium enterprises (SME's), customs and trade facilitation and regulatory cooperation covering important industry sectors. The 12th round is expected to take place in Brussels in late January - early February.
Transpacific Trade Partnership (TPP) trade deal reached
On October 5, 2015, Trade Ministers gathered Atlanta reached a deal on TPP. The treaty is yet to be ratified at domestic level, but its conclusion is seen to be an important achievement for President Obama and a landmark on the global trade agenda.
New proposal for investment protection in TTIP
On September 16, 2015, the European Commission approved its proposal for a new system for resolving disputes between investors and states - the Investment Court System. The new proposal will bring investment protection back into the TTIP discussions, but a number of major stakeholders in the debate have yet to formulate a position. To read the Commission's press release click here.
European Single Market
Cameron's EU Membership Demands
On November 10, 2015, UK prime minister published his letter sent to European Council President Donald Tusk, demanding a new settlement for the UK in a reformed EU. The UK's reform demands address economic governance, competitiveness, sovereignty and immigration.
Digital Single Market Strategy
On September 24, 2015, the European Commission launched its 'Consultation on Online Platforms, Cloud and Data, Liability of Intermediaries, and the Collaborative Economy' in an opportunity for Digital Businesses to shape the agenda and assess the role of online platforms. The consultation was announced by the Commission in its Communication on a Digital Single Market Strategy for Europe (DSM) on 6 May 2015 and addresses issues such as the transparency of online platforms. To access the Digital Agenda for Europe and find out the latest Events, Consultations and Publications click here.
The Immigration Bill Committee made a call for written evidence on the current Immigration Bill passing in the UK Parliament. The Bill is made up of 9 provisions aimed at immigration control. The Committee will stop receiving written evidence at the end of the Committee stage on Tuesday 17 November 2015.
On July 1, 2015, the UK Airports Commission published its Final Report, which sets out its recommendations to government for expanding aviation capacity in the UK. The Commission has unanimously concluded that the proposal for a new northwest runway at Heathrow Airport, combined with a significant package of measures to address its environmental and community impacts, presents the strongest case and offers the greatest strategic and economic benefits. Read the press release.
The Highway Bill was passed by the House with a 363 to 64 majority on November 5, 2015. The bill includes more than $300 billion in transportation and infrastructure programs to address the US's degraded roads and bridges. The measure passed by the House still has to be reconciled with the Senate version adopted in early 2015.
Financial Services and Capital Markets
Capital Markets Union (CMU)
The European Commission launched the Capital Markets Union Action Plan on September 30, 2015, in an effort to help build a true single market for capital across the 28 Member states. The Action Plan's key early actions include new rules on securisation, new rules on solvency II treatment of infrastructure projects, public consultations on venture capital and covered bonds and a call for evidence on the cumulative impact of financing legislation. To access the press release and for detail on the action plan, please click here.