International Trade
International Business Hub
EU-Canada deal off to flying start
A major trade agreement between the European Union and Canada is already starting to pay dividends, just a year after it started. The Comprehensive Economic and Trade
Agreement (CETA) came into force in September 2017, and EU trade commissioner Cecilia Malmström has visited Montreal to assess its impact so far. She said: “The EU-Canada trade
agreement has now been in action for a year and I’m pleased with the progress so far. “The preliminary data shows there is
plenty to celebrate, even at this stage. Exports are up overall and many sectors have seen impressive increases. This is great news for European businesses, big and small. As ever with these agreements, there are certain areas where we have to make sure that we thoroughly implement what has been agreed, making sure that citizens and companies can fully benefit from the new opportunities. “I'm happy to say that our partnership
with Canada is stronger than ever. CETA is a clear demonstration of that.” In addition to removing virtually all
customs duties, CETA has given a boost to the business climate between the EU and Canada, with exports are up by more than seven per cent year on year. Of these, certain sectors are doing
especially well. Machinery and mechanical appliances, which make up one fifth of EU exports to Canada, are up by more than eight per cent, and pharmaceuticals, which account for a tenth of all EU exports to Canada and are up by 10 per cent.
By Philip Parkin
Birmingham Chamber’s translations team has pulled off a major coup after winning a prestigious contract organising and managing simultaneous interpreting at an international medical conference. The contract involved the live interpreting of
speakers at the Uncemented Hips Conference 2018, from English into Spanish, and vice-versa. The conference was hosted by the Royal
College of Physicians in London, which has 34,000 members around the globe. It was the first time the college had hosted
the conference, and the Chamber had to beat off stiff opposition from London-based translation services to win the contract. Shazia Khaliq, senior client services executive
at the Chamber, said two simultaneous interpreters were used for the event, which took place at the RCP’s office in central London. The Chamber team also provided the equipment needed for the interpreting, and also liaised with the event organisers and engineers. Shazia said: “We were approached for this
because we have experience in this domain – we have done them for Birmingham City Council and Department for International Trade (DIT) (formerly UKTI). “The London conference was a high-profile, specialist event and we beat off competition from London-based translation and language providers. “We received positive feedback and hope to support more businesses with their international
T: 0121 450 4205 E:
ibh@birmingham-chamber.com
Skills translate into major contract win
Major coup: The Chamber’s translations team (from left): Carina Jocher-Wright, Amira Graham and Shazia Khaliq
delegations for small and large scale conferences.” The conference success comes just weeks
after the Chamber’s translation services team has won another prestigious contract, with the World Intellectual Property Organisation (WIPO). A year ago, the Chamber – the only Chamber
of Commerce in the UK with a dedicated translations team – was invited by WIPO to contract for the work of translating patent application and claims from (and to) English, French and German, and this has now been followed by a project dealing with patents, Intellectual Property and trademarks.
UK businesses positive about global trade
New research from HSBC has revealed that the majority of UK companies have a positive outlook on international trade. The findings come from HSBC’s Navigator
report, a survey of more than 8,500 companies around the globe, including 350 French businesses, 350 in Germany and 500 UK businesses. The survey of UK firms found that 74 per cent
had a positive outlook on international trade, driven by an expectation of global economic growth (27 per cent), consumer confidence (24 per cent) and buyer/supplier relationships (24 per cent). Two-thirds of firms in the survey were
highlighted as active international traders, and 34 CHAMBERLINK December 2018/January 2019
identified Germany, France and the USA as their top trading partners as well as the top destinations for growth over the coming years. The key drivers for future growth along these
corridors are identified as an increasing demand for products (33 per cent), greater use of technology (31 per cent) and a favourable economic environment (29 per cent). Those with a negative outlook (17 per cent)
identified Brexit as their main concern followed by exchange rates and tariffs. Amanda Murphy, head of commercial banking
at HSBC UK, said: “British exporters remain bullish on international trade prospects and are clearly capitalising on the cheaper pound and
increased demand for their products around the world. “While many UK companies are focusing on
existing trade partners, we would encourage them to explore new markets to expand their businesses and find new growth opportunities.” UK companies are polarised on Brexit with 40
per cent seeing it as a positive, 31 per cent as a negative and 22 per cent expecting no impact. Ms Murphy said: “Businesses are adapting
their operations to ensure they have resilient plans in place. During times of uncertainty it’s those businesses that prepare, adapt and look for new opportunities that are best placed to grow.”
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