LONDON, 21 April 2016
As US President Barack Obama arrives in the United Kingdom to celebrate the Queen’s 90th birthday, BritishAmerican Business (BAB) welcomes the President for what is likely to be his last visit as Head of State to the UK. BAB is proud to stand for a strong US-UK economic relationship and we salute the role that the President has played throughout his administration in strengthening bilateral ties, underpinned by strong business ties.
Sir Martin Sorrell, group Chief Executive of WPP and Chairman of the International Advisory Board of BritishAmerican Business, said: “On behalf of the largest investment community in the UK we very much welcome the President’s visit. The UK has no closer ally than the United States and BritishAmerican Business is proud to support the strong business partnerships which underlie this relationship. I hope that the President’s visit gives weight to the importance of transatlantic business, the UK’s role as a gateway to the European Single Market and to those who welcome the strong British voice for innovation and pragmatism at the EU table”.
Jeffries Briginshaw, CEO of BritishAmerican Business said: “We strongly support for the EU-US Trade and Investment Partnership currently being negotiated, particularly the inclusion of a specific chapter for small and medium sized companies (SMEs). Economies with strong ties to the US, like the UK, stand to benefit the most from TTIP. Not being part of this deal – one of the consequences of leaving Europe – creates uncertainty because we do not know how long it would take for the UK to negotiate a bilateral deal with the US nor on what terms it might be agreed.
Under President Obama’s leadership the US has embraced an ambitious trade agenda geared towards the creation of jobs and growth, with the Transatlantic Trade and Investment Partnership (TTIP) agreement, the largest bilateral trade agreement ever negotiated. We strongly support TTIP as we believe it offers huge opportunities for our member companies on both sides of the Atlantic and we hope the President continues to drive momentum for this important agreement.
Our belief is that prospects for TTIP are strengthened with the UK in the EU and BAB echoes the President’s previous support for a strong Britain that is within a strong European Union. Our members on both sides of the Atlantic see an important role for Britain in the EU as key in helping to drive a liberal trade agenda, innovation and reforms such as the completion of the European Single Market”.
About BritishAmerican Business
BAB is the leading transatlantic business organization, dedicated to helping companies build their business on both sides of the Atlantic. Its membership brings together the world’s leading multinational and middle market companies across sectors and geographies; and more than 100 of the world’s most successful CEOs support its work through their participation in its Advisory Board. It incorporates the American Chamber of Commerce (UK) and the British-American Chamber of Commerce (USA), which merged in 2000 to create a single, pre-eminent transatlantic organization that support its members across the Atlantic.