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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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