BUSINESS NEWS
Anniversary lunch focuses on EU debate
E
xiting the EU would mean that the UK would be left with the “worst of all worlds”, a Government Minister said at the 20th anniversary lunch of BABC Midlands.
After telling guests of the economic benefits of proposed new
transatlantic trade deals with America and Canada, MP Hugo Swire, Minister of State, Foreign and Commonwealth Office, warned of the dangers of not going ahead with the agreements – also adding that we would be far better off in a reformed EU. Mr Swire said that the Transatlantic Trade and Investment
Partnership (TTIP) – which is still under discussion – would, if implemented, be the biggest bilateral trade deal in history, boosting the UK economy by as much as £10 billion each year, while the EU- Canada Comprehensive Economic Trade Agreement (CETA), which could come into force early 2017, would increase business opportunities, stimulate growth and boost jobs. Canadian investors currently have significant stakes in Birmingham
Airport, the Bullring centre, Grand Central shopping centre and the new £1 billion Paradise development, while the US is the Midlands ‘number one’ inward investor. “The benefits of these agreements are clear. They offer a once in a
generation opportunity to change how we do business – an opportunity to put the UK and the EU in the vanguard of that change, setting the standards for world trade for generations to come. “Despite the Chinese economic slowdown, the rise of Asia is
From left: Alan Kessel, (deputy high commissioner, Canada), Hugo Swire, Helen Melville (BABC) and BABC president Harry Reilly
undeniable. And if we don’t seize this chance now, when the EU and the US together represent the bulk of global GDP, we may see world trading standards being set instead in Bombay and Beijing.” Mr Swire added: “These trade deals are also proof of the multiplying
effect of EU membership. It amplifies our power and influence on the world stage. It gives us greater leverage in tough negotiations – in simple terms, it enables us to achieve more as part of the EU than we could achieve alone. “I won’t go into all the other arguments for EU membership, but just
looking at the question purely from a trade and commerce perspective I believe the answer is clear: the UK will be better off in a reformed EU.” The lunch, held at Hotel du Vin in Birmingham city centre, was
sponsored by the State of South Carolina and the High Commission of Canada.
• For more pictures, see page 32. For more BABC news, see page 25.
APRIL 2016 CHAMBERLINK 11
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