INTERNATIONAL TRADE
TRAINING
& EVENTS INTERNATIONAL TRADE COURSES
Beating Brexit - Tax planning for you and your business Date: Time:
19 August 10am – 11.30am
Location: Online Price:
Free
Export Sales – Pricing for Profit Date: Time:
21 August 2pm – 4pm
Location: Online Price:
Free
Using Social Media to Break into New International Markets Date: Time:
1 September 1.30pm – 4.30pm
Location: Online Price:
Free
Export Foundations Date: Time:
Price: 2 September 9.30am – 4.30pm
Location: Chamber Office, Chesterfield
£260+VAT (member) £350+VAT
(non-member)
Understanding Commodity Coding Date: Time:
9 September 9.15am – 1pm
Location: Chamber Office, Nottingham
Price:
£139+VAT (member) £199+VAT
(non-member)
Customs Declaration Training Date: Time:
9 September 9.30am – 4.30pm
Location: Chamber Office, Chesterfield
Price:
£280+VAT (member) £350+VAT
(non-member)
For more information and to book your place on the Chamber’s upcoming International Trade courses, call our dedicated team on 0333 320 0333 (option four) or visit www.emc-
dnl.co.uk/enabling- international-trade.
SPOTLIGHT ON: NORTH AMERICA
It’s the special relationship that both sides of the Atlantic seemingly want to make even more rewarding, which is why there’s never been a better turn for companies in the East Midlands to turn the US into a formidable trading partner. Dan Robinson tunes into an East Midlands Chamber event to find out what it takes to do business in North America.
While much of the planet is still curled up under a table, head down and waiting for the coronavirus storm overhead to pass, business needs to raise its head and plan what happens next. Brexit is coming sharply back
into focus and a UK-US trade deal will again be back on the agenda too as the third round of talks begin alongside the gradual reopening of borders. For the East Midlands, with its
strengths in manufacturing and biosciences, looking beyond these shores will be vital to economic recovery and North America – which has 78-times the UK’s land mass, 5.5-times as many people and is already a £120bn importer of British goods – will be a key market. Kevin D Malecek, an Ohio-based
economist, tells the Chamber’s Doing Business in North America webinar: “Obviously, we’ve had that special relationship for many years, and there’s a lot of people on both sides of the pond that want to see this relationship move to the next level. “We’re hopefully going to be in a
much better position globally by next spring, with scientists working on a vaccine and hopefully better therapeutics, but the time to prepare is now. “These economies aren’t going
to shrink – we’re going to be in a place for a strong rebound and that’s going to be the time to be placing yourself to take advantage of the situation.”
It was a century ago, during the Roaring Twenties of mass car adoption, commercial radio and bread-slicing machines, when America charged to the top of the world as its economic superpower. And while China is catching up
quickly, the US still boasts the world’s highest GDP – $20.49tn (£16.1tn) at the last count. Given the existing economic ties,
common language and shared culture, the US is already the largest single-nation trading partner – exporting £112bn worth of goods and services, as well as importing £70bn in 2019. It is also the biggest market for
the East Midlands, which exported £2.8bn to the States in 2019, a 13.4% increase on the previous year. With Brexit set to complicate the
32 business network August/September 2020
Kevin D Malecek is an economist at the City of Mentor, in Ohio
relationship with the EU – Britain’s largest overall trading partner, exporting goods and services worth £274bn, although operating at a £67bn trade deficit – the UK is now aiming to sign a trade deal with its American ally. Kevin is director of economic
development and international trade at the City of Mentor, in Ohio – which, like the East Midlands, has industrial strengths in aerospace, advanced manufacturing, biotech and medtech. While Donald Trump has
adopted an “America First” insular approach to foreign policy, he is keen to sign a trade deal with the UK – and, although a final
agreement looks set to be delayed until after the November presidential election, Kevin doesn’t believe Joe Biden displacing him in the White House will have a significant negative impact. “Regardless of the election,
conditions are going to remain favourable,” says Kevin. “We want you to come here and we’re going to make it as easy for you to do that and navigate the regulations.” While it can take less than a
week to set up a business in the US, there is a lot to consider before launching head-first into a land of 50 states and 330 million people. UK businesses may decide to
export directly or use distributors, while some go down the route of entering partnerships and alliances when taking those first steps. Kevin recommends using
stateside advisors for aspects such as accounting, HR, property, intellectual property and regulation. Steven Roth, an attorney in Ohio,
believes hiring local legal counsel is critical as laws can differ between states and counties – while he says handshake deals in the US are a “recipe for disaster” and stresses the need to get any agreement in writing. He says: “Just establishing the entity is a really quick process but
‘These economies aren’t going to shrink – we’re going to be in a place for a strong rebound’
The US is already the biggest export market for the East Midlands and states like Ohio are keen for even closer relations
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