Four Sectors Many Stories One Ambition Leading UK industries make the case for TTIP
Food and Drink
Jeffries Briginshaw CEO BritishAmerican Business
Four Sectors, Many Stories, One Ambition. This summarizes the learnings from our ‘Open for Business’ initiative, the second phase of our engagement around the Transatlantic Trade and Investment Partnership ( TTIP) agreement. Following the success of our 2014 road show series this time we drilled even further down with our TTIP work, hearing from small and big businesses, trade associations and workers in specific sectors as to why they think their industries stand to benefit from a comprehensive EU-US trade deal. Chemicals took us to the industrial North West to The Heath Business & Technical Park in Runcorn, Cheshire. There we learned how TTIP can help drive the regions success in the 21st century by further opening the US market to UK companies. At the scenic Oxford Science Park, a thriving cluster for life sciences innovation, stakeholders from industry and the health sector explained how both the UK life sciences industry and patients stand to gain from TTIP through stimulated transatlantic investment and greater research cooperation. Those lucky enough to attend the event on food and drink were treated to
Walker & Son’s Melton Mowbray Pork Pies, a famous staple of the British diet, while experiencing first-hand how a pork pie can make the case for TTIP. The automotive event took us to the well-known Heritage Motor Centre in the Midlands. Surrounded by cars showcasing the best of British manufacturing, participants discussed how duplicative technical regulations increase complexity all down the supply chain. Read more about it inside. This publication presents the case for TTIP through whole sector stories, from the smaller companies who stand to benefit most from TTIP to the large multinationals, all who contribute to growth and employment across the UK. While our initiative focused on four sectors, all industries will have their own story about transatlantic trade ambitions. Our gratitude goes to the many partners and sponsors whose dedication and commitment allowed us to deliver this truly unique and valuable initiative. Let me say a particular thanks to our colleagues from Lilly who made the production of this publication possible.
At BritishAmerican Business, we are proud of our transatlantic identity and the strong economic relationship that the UK and the US share. TTIP is about making sensible upgrades to strengthen this relationship and ensure that the UK and US remain the closest of trading partners. We are excited about the potential that TTIP presents and as you will see from the stories presented weâ€™re not the only ones!
Life Sciences June Medical Born on June 5th, “JUNE” was originally a working name. However, I grew increasingly fond of the name, and for me it stands for bravery, vision, determination and integrity. When we started trading in 2013, I already had plans for starting up in other countries. The plan was simple: First, add more products to the portfolio to create stability and minimise risk, and then go international.
Angela Spang Managing Director
“We can do whatever we want… as long as it is legal and compliant!”
We are still small, but it means we are flexible and nimble. We respond to customer needs faster than any of our competitors. People are usually shocked that we are as few as we are – we always get comments that we seem so big, have presence everywhere and are such a leader in our space that people can’t believe we are only a team of 8. I always respond to say that if you would get the chance to watch those 8 in action, you wouldn’t be surprised at all.
They are absolute superstars at what they do, with a passion and dedication that continues to impress me, day after day. Going international is a big deal to us. Working in the medical device world, we are acutely aware of the challenges different countries and different regulations bring, not only from in the product research or packaging area, but also from an ethical compliance perspective. Our motto is “We can do whatever we want… as long as it is legal and compliant!” and this is a guiding principle for all of us. We work in this field because we want to do good, and that comes with a big responsibility. For us, TTIP is of huge importance. We have limited resources, but a fantastic market opportunity to grow triple digits. With potential regulatory and legal harmonisation through TTIP, our chances to succeed in the US market will be even higher, and we can’t wait to get started!
Life Sciences Owen Mumford Owen Mumford started life as a surgical instrument business over 60 years ago. John Mumford and Ivan Owen, with the help of Ivan’s father, first set up shop in a small garage in Woodstock, near Oxford. Since then, the company has been at the forefront of medical device innovation.
Andy Varde Head of Research & Development
“The US market is critical to Owen Mumford’s business, working as we do with many of the US’s top pharmaceutical companies.”
Successful expansion has led to the company employing over 700 people. We sometimes refer to ourselves as the largest company in Oxfordshire no one has heard of! Despite the local anonymity, our Safety Lancing and Drug Delivery products are used around the world. The harmonised regulatory framework for devices across the EU means that once approved, products can be marketed EU wide without further work. While one or two country specific requirements remain, trade is free of barriers within the EU. Trade barriers between the US and EU are not really too significant – there has always
been a mutual recognition that access to safe and effective technology to help healthcare professionals on both sides of the Atlantic to treat patients is in our mutual interest. However, the regulatory frameworks in the EU and US are markedly different in form and requirement. This means, for example, that products can be classified differently, require different evidence to support their approval, and require different notification processes for changes and updates. The result is that completely separate regulatory filings are required for the US and EU. If TTIP negotiations were able to make progress in reducing the additional burden this places on our business, for example by harmonising the data pack to be submitted and/or agreeing the classification of devices, then this would be very helpful. We are optimistic some progress can be made.
Bluekit Medical Limited Rebecca Porter
Exporting medical devices to the US presents an array of divergent regulatory requirements, demanding careful navigation to achieve confident compliance. Bluekit products are exposed to FDA approval, increased risk of product liability due to US labelling/ packaging guidelines, and with this, greater costs. The US market presents a fantastic opportunity for Bluekit Medical. We value policy that supports best practice and encourages opportunity.
Annual turnover of
Akesios Associates Limited Dr Shawn Manning
Oxford Academic Health Science Network Dr Nick Scott-Ram
The proposed TTIP agreement cannot fail to have a substantial positive impact on us here in the UK given the United Statesâ€™ global leadership in life sciences, in terms of innovation, quantum of investment and shareholder return. A more harmonised regulatory framework to support transatlantic trade will undoubtedly offer significant benefits to UK life science companies.
The life science and healthcare sectors are important contributors to the Oxford region economy and wellbeing of its population. We were pleased to be able to host representatives from the NHS, industry and investment community to examine the potential benefits of TTIP as it relates to the competitiveness of our life science industry, and to reassure those concerned about perceived threats to the NHS.
US accounts for
Life Sciences Lilly The pharmaceutical industry in the UK is dynamic, innovative and supports economic growth and highly-skilled jobs while helping patients overcome serious diseases. Can it get much better than that? The answer is yes, and this is where the Transatlantic Trade & Investment Partnership comes into play. The pharmaceutical industry in the UK already represents £11.5m of investment in R&D every day 1. We at Lilly have a long history here, having opened our first office outside of the United States in the UK back in 1934, and over that time a lot has changed. We have all the elements of the pharmaceutical value chain in the UK across our three sites covering research and development, manufacturing and sales and marketing.
With the right policies in place, we believe TTIP can further enhance the future of the UK health system to benefit patients, industry, and the economy. Here’s how: Stronger Industry: The UK’s life sciences sector is the country’s most research-intensive industry 2. The UK is a global leader in life sciences ranking second in the world after the US3. This industry, along with the UK economy and patients, stands to gain from TTIP through stimulated transatlantic investment and greater research cooperation. These are important elements for the UK to remain a leading country on scientific discovery and for patients in the UK to ensure they can access the most innovative medicines.
Health Outcomes: While it’s important to recognise our role in the economy, it’s about health and the patient. Whilst people are living longer, noncommunicable diseases are the main cause of death in the UK4. Dementia is one such non-communicable disease, with 44 million people currently living with this condition globally, predicted to rise to 75 million by 20305. With TTIP, we can make it easier to address such unmet medical needs, by eliminating costly red tape and removing regulatory duplication. Through enhanced alignment between the European Medicines Agency (EMA) and the Food and Drug Administration (FDA), TTIP’s could make it easier for researchers to better share their discoveries and patients could receive innovative medicines far faster than they do today.
Innovation: We need TTIP to enshrine existing high standards for Intellectual Property (IP) protection to incentivise the development of pharmaceutical innovation. In addition we want transparent and predictable market access principles enshrined in TTIP, to help create a stable and predictable environment in which innovation to flourish.
innovation and improve health outcomes. Today as we are seeking greater prosperity, innovation and productivity, as well as better public well-being in the UK, it appears to be the perfect fit.
In summary, the potential for TTIP to improve healthcare is a once-in-ageneration opportunity which we need to seize. A comprehensive and ambitious TTIP could strengthen our economy, attracting
UK Department for Business Innovation & Skills, Growth Dashboard, 2015. Ibid. UK Department for Business Innovation & Skills, BIS Economics Paper No. 17, 2012. World Health Organization, NCD Progress Monitor, 2015. Alzheimerâ€™s Disease International. Policy Brief for Heads of Government: The Global Impact of Dementia 2013-2050, 2013.
Automotive 5 Point Plus 5 years ago our son James was born. When he needed a forward facing car seat, we bought what we thought was the safest seat on the market. We quickly realized that there was a serious problem, common to all car seats with a 5 point harness – James could get himself out of the upper part of the harness in just a few seconds. This set me on a path to solve this problem and bring our product to market.
Richard Knight Managing Director
“American consumers win with safer products and the industry as whole will benefit from innovation.”
The 5 Point Plus anti escape system helps to prevent young children pushing their hands under the harness by shielding the gap between the child and the harness. The 5 Point Plus accessory is exported worldwide to consumers, retailers and distributors. The only markets that are not supplied are the US and Canada. Comparing fatality rates of children aged 0-4 years old travelling in car seats in the US to the UK is alarming. Despite car design, education levels and road speeds being broadly similar, the fatality rate is 27 times that of the UK, yet the population is only 5.5 times that of the UK.
The obstacle to exporting to North America is the fear of product litigation. The risks are too high for a small business and insurance does not offer adequate protection. One option is to license the 5 Point Plus to American car seat manufacturers. The fear of litigation, however, is also hampering negotiations as adopting the anti-escape system is tantamount to acknowledging a design flaw in past child safety products. The alternative viable option is to raise investment and develop our own seat for the American market. A successful completion of the trade and investment agreement would allow more competition in the US market as European homologated brands could export child car seats without significant investment in new tooling to comply with American standards. These new entrants could introduce the 5 Point Plus to the American consumers without fear of litigation arising from past products. American consumers win with safer products and the industry as a whole will also benefit from innovation.
2010 Based in
Automotive Cameron-Price Established in 1960 and based in Birmingham, Cameron-Price is a highly successful and well respected designer and manufacturer of high precision plastic injection moulded parts and assemblies for a ‘blue chip’ customer base, predominantly into the automotive sector.
Barry Moor Managing Director
“We are hopeful that a successful agreement will increase our involvement in the US market and contribute to our ongoing growth.”
We have a built in philosophy of continuous improvement. As such we are open to mutually supportive transatlantic trade and investment partnership agreement. We have facilities and capacity that could see joint ventures with specialist niche providers from the US setting up within the UK. Cameron-Price are a strategic supplier to several UK Tier one businesses, with strong relationships directly to original equipment manufacturers (OEMs), including Jaguar Land Rover. Like many companies throughout the supply chain we could stand to benefit from increased exports to the US market.
As we see more OEM’s setting up production plants in Brazil, Russia, India and China we need to be developing our own links and networks to ensure the visibility of the Cameron-Price brand. Most organisations are very lean now, so our future depends on taking advantage of international opportunities to ensure the Cameron-Price business is a recognized world class supply partner. In 2015 the business underwent a management buyout and as part of the ambitious plans for the business we want to build on our understanding and experience of the automotive supply chain dynamics to expand into the US. Currently we supply a large percentage of our product into the EU market but our links with the US are less developed. We are hopeful that a successful agreement will increase our involvement in the US market and contribute to our ongoing growth.
Society of Motor Manufacturers and Traders (SMMT) Mike Hawes
The UK automotive sector strongly supports TTIP which, estimates suggest, could boost British vehicle exports to the US by more than a quarter (26%). Our focus is on the removal – or at least the mutual recognition – of regulatory barriers to make it easier for UK manufacturers to export to the US, increase competitiveness and boost consumer choice. This agreement could be particularly beneficial for the UK’s low-volume premium and sports cars manufacturers whose products are in particularly high demand. Developing vehicles to meet different but equivalent standards is incredibly costly and acts as a barrier to market entry. The potential trade advantages to both UK and US automotive from TTIP are therefore significant and we urge negotiators to prioritise areas that will unlock the full benefits for both countries.
RED (Rachel Eade Developments) Limited Rachel Eade MBE
The demand for UK designed and manufactured vehicles is at an all time high. TTIP will significantly increase ties between UK and US automotive trade, opening the doors for higher volumes and the entry of the highly desired specialist niche vehicles. The latter had previously struggled to meet the regulations and cost of entry so this is a major advantage for that segment of the marketplace. Additional car sales to the United States will continue to create added value and more job opportunities across the supply chain.
2.5 million engines produced each year
British American Business Council (BABC) Midlands Helen Melville
This trade deal stands to bring massive benefits to the automotive industry in the West Midlands. Independent studies already suggest that TTIP would create jobs and generate growth across the EU – and that tariff reduction and greater regulatory alignment will help European automakers to win the lion’s share of TTIP gains. Whatever the size of company – big or small – this proposed agreement will have a noticeable impact.
20 seconds a car rolls off the production line
Automotive Jaguar Land Rover Throughout the history of automotive industry, regulators have grown up differently, which means that regulations in different countries are now substantially different in a number of key ways. There are roughly 50 different regulations to comply with to get a product to market, these regulations run from front to back and top to bottom of every car we make.
This light is part of an instrument cluster and the plastic moulded part of it has to be shaped to match the windows in which we put the lamps. That means it requires a different moulding for US vehicles than those used everywhere else. This passes the complexity down the supply chain to suppliers and sub-suppliers.
For example, when a car brakes a red symbol with brackets and an exclamation mark appears. For every other country around the world that’s accepted as a park brake warning light. However, in the United States regulation dictates that the word ‘park’ must appear in an oblong box with red font. So vehicles for the United States have to be differentiated from all other vehicles.
The challenge for automotive companies is to design a product that meets regulations in as many markets as possible. Currently, having to adapt cars for the US market results in increased complexity. We advocate for TTIP as we want as broadly similar regulation in both sets of markets so as when we design our product it meets the requirements in the EU and US.
By streamlining the process on both sides of the Atlantic, an agreement could increase efficiency throughout the supply chain. Rather than spending time and money adhering to both sets of regulation, manufacturers will be able to increase production and lower costs. The predicted growth in car sales to the United States as a result will create job opportunities throughout the sector.
“By streamlining the process on both sides of the Atlantic, TTIP could increase efficiency throughout the supply chain.”
UKâ€™s largest automotive business
21,000 jobs in UK
Chemicals Briar Chemicals Briar Chemicals employs over 200 people and is based in Norwich. We provide worldclass contract manufacturing services to global leaders in the agrochemical, fine- and specialty-chemical sectors. Our activity is focussed on Contract Manufacturing. With our supply chain team sourcing raw materials and packaging materials worldwide and delivering to an international customer network, I would say we truly link the global to the local.
Susan Brench Commercial Manager
“I like doing business with Americans. I like their can-do attitude and that they are quick decision takers.”
The UK chemicals sector is used to exports. In fact, UK small and medium sized companies often have more experience of exporting than our US counterparts. It is not uncommon for companies like us to export 70% to 90% of products overseas. And the US is particularly interesting for chemical businesses because of its sheer size and the number of innovative market leaders based there. I like doing business with Americans. I like their can-do attitude and that they are quick decision takers. We share common values and we speak the same language in terms of quality and efficiency standards. Building a
reputation is about making a product right from the very first time, and doing what you say you will do. The big question for us is: Will TTIP create a ‘level playing field’? A challenge for us is the fact that US based companies’ energy costs can be significantly lower. This reflects on raw material purchase prices and toll conversion fees. It would make UK businesses more competitive if we can secure lower cost energy and raw material supplies. A current disadvantage for EU chemical manufacturers is the complex regulatory framework that applies throughout every single step of production and not just to the end product so there is scope for harmonising regulatory compliance. Furthermore, if we can standardise drums and packages, we can make the most of our storage spaces and shipping costs. There is definitely potential for cost improvement through standardisation and efficiency savings.
90% of products exported
Chemicals Plater Chemicals The Plater Chemicals Group is the 17th fastest growing chemical company in the UK. We have four business units: Plater Chemicals and Daltrade Chemicals specialise in chemical distribution, Lancashire Chemicals offer toll spray drying & bespoke manufacturing and our newest adventure, High Purity Chemicals, blends and packs acids, alkalis, etches and developers to analytical and electronic standards in our brand new class 5 cleanroom. Bruce Hendon Managing Director
â€œIn the future we certainly hope to start trading with the US again.â€?
Though each business is diverse, they share core values of a can-do attitude, partnership approaches with customers and suppliers, and most importantly we do what we say we are going to do. Ultimately, a strong focus on the principles and values we hold dear is accountable for the growth we have achieved in recent years and we are proud to have seen a 62% increase in employees and a 51% increase in gross value added (GVA).
Currently, the majority of our customers are in the UK and we have a growing number of customers across Europe. For several years we supplied a pharmaceutical company in Missouri. Initially it worked well, but we started experiencing frequent delays due to customs clearance and X-ray examination for which we were charged thousands of dollars. The combination lost the business. In the future we certainly hope to start trading with the US again, particularly with our high purity acids to serve their electronics industry. Through successful completion of TTIP, the standardization of customs procedures would undoubtedly give us more confidence so that we could fulfil logistical expectations of customers in the US.
Chemicals Industries Association (CIA) Steve Elliott
CIA, whose member companies make over 70% of chemicals made in the UK, believes TTIP can create new manufacturing and service sector jobs, reduce unemployment and raise revenue for UK public services. Indirectly, TTIP can accelerate the mutual de-duplication of expensive animal testing and inconsistent registration requirements on chemicals without any loss of societal or environmental safeguards. By ensuring access to US shale gas, TTIP can underpin growth in large-scale UK industrial facilities that require hydrocarbon-based feedstocks as well as the necessary energy to fuel chemical reactions.
Chemicals North West John Roche
of all UK manufacturing
Chemicals Northwest was delighted to stage an interactive discussion focussing on the proposed UK-US transatlantic trade and investment agreement in June 2015. At the event participants shared their experiences of trading with the US. These were both positive and negative and covered the barriers that many currently face. The opportunities presented by a TTIP agreement generated positive feedback.
500,000 people employed in the sector
ÂŁ2.8bn of exports to the US
of manufacturing exports
Chemicals BASF BASF’s UK MD Richard J Carter who has also worked in the US for the world’s leading chemical group puts forward a compelling argument for a practical and pragmatic TTIP: BASF strongly supports the TTIP negotiations – the US is a key market for BASF and a significant production location. Currently we generate around 20% of our sales there and within our global ‘Verbund’ network we also ship to US customers, we would expect our UK sites to benefit from TTIP. We need EU leaders to speak up in favour of free trade and TTIP in particular. Short-term duty savings through TTIP will help to make our products more competitive in a transatlantic market. This benefit
can then trickle down to consumers, employees, increased spending in R&D or investments and shareholders.
stalling WTO negotiations as well as providing a model for closer regulatory cooperation worldwide.
Given the business challenges, regulatory cooperation will make our work more efficient and whilst safety will not be compromised, bureaucracy will be reduced (e.g. if a risk assessment didn’t have to be carried out again; if studies that have been conducted under REACH were accepted by the US EPA in any case). And this will allow us to focus on truly value-adding activities. But in the long run in the chemical industry, which is driven by integrated global value-chains, we look to TTIP to positively catalyze multilateral processes, including moving the
As a summary we all need to address some of the public perceptions of TTIP and as a science driven industry, bring the debate back to the facts and the larger perspective of TTIP.
“TTIP will help make our products more competitive in a transatlantic market.”
1,420 UK staff
manufacturing sites in the UK
Food and Drink Walker & Son Walker & Son has been making savoury pies in Leicester since the 19th century and in 1986 was acquired by Samworth Brothers. The company now makes almost 90% of the UKâ€™s Melton Mowbray pork pies and is a founding member of the Melton Mowbray Pork Pie Association. Although almost 200 years old, the company only started to sell to overseas buyers in August 2014.
Henry Bowles Export Executive
â€œThe US has the potential to be a huge exporting opportunity for us and could lead to new jobs at our factory in Leicester.â€?
Exports currently account for less than 1% of our annual turnover, with small shipments being sent to Iceland, Thailand, Singapore and the Caribbean. The US has the potential to be a huge exporting opportunity for us, and could lead to growth and new jobs at our factory in Leicester. Anyone can make a pork pie, but to make a Melton Mowbray pork pie there are a number of requirements that must be met. In a similar way to champagne, they must be produced within a specific region and to a certain standard. Walker & Son have received over 300 quality awards in the past five years and achieved Protected Geographical Indication (PGI) status in 2009.
Our PGI status is not currently recognised in the US. Despite all our accolades as a world class supplier in the UK, to export to the US a separate audit of our bakery must be carried out. Whilst this in itself is not a major concern, the vast amount of paperwork and procedures required is like nothing we have encountered when exporting elsewhere. We therefore hope that TTIP will help to find ways to mutually recognise lists of geographically protected products and simplify the export process. The UK and EU should be proud of their exceptionally high food manufacturing standards. The UK government and EU Commission have said that TTIP will not change existing EU foods rules, and it is important to us that this is the case. As a business our commitment to high food standards will remain, regardless of where we export to. Ultimately, manufactures, retailers and consumers on both sides of the Atlantic will benefit from high standards.
90% of Melton Mowbray pies
200 years old
Food and Drink Moonshine Drinks Moonshine Drinks create simple brew at home alcoholic drinks kits which allow the customer to create their very own beer and wine at home by simply adding water. We developed our product in collaboration with two local Universities and are currently waiting on the approval of our worldwide patent. We have plans to extend our range to offer fruit ciders which will also only require water to create delicious drinks you can make at home. Ian Walker Managing Director
â€œOf course the US is a key target as the market shares many of our values, including the love for a good beer and wine!â€?
From a business that has only been trading for a year we are experiencing a tremendous rate of growth across the UK market. We are already increasing production to match demand from major retailers and are now looking to expand our business abroad. Of course the US is a key target, as the market shares many of our values, including the love for a good beer and wine!
Regulatory complexities and the sheer size and logistical challenge of the US market make directly exporting our product impossible, and so we are looking for a partnership agreement with a US company to produce our product under license in the North American market. For our product and our business to reach its full potential we will need a strong partner who will deal with the import process, food safety standards regulation, market access and production issues to ensure that our product will be recognised as approved and ready for consumption within the US market. If TTIP can help deliver these, then there is no reason why Moonshine Drinks could not be a great success in the American market.
East Midlands Chamber Diane Simpson
TTIP has the potential to increase trade between the East Midlands and the US, boosting local businesses, creating new jobs and increasing choice for customers. The US can be a tricky market to enter for EU companies – removing difficult obstacles by way of a free trade agreement could give UK companies (including those from the food & drink sector, where the East Midlands is very strong) potential access to a hugely significant market, and should continue be explored.
Scottish North American Business Council (SNABC) Allan Hogarth
Scotland can be very proud of the success of its food and drink sector but many of our smaller businesses are crying out to break into the US market. Currently the costs and difficulties involved in securing US recognition of food safety certification put many business off. If TTIP can tackle this, the opportunities for small companies are huge. This is a once-in-a-generation opportunity to build on the strong trading relationship the US and Scotland already share. There is a big appetite out there for that and we are optimistic about reaching an agreement.
£19bn worth of goods
UK’s largest manufacturing sector
Food & Drink Forum Richard Wigley
The technical challenges for smaller food and drink businesses strategically looking to export to the USA are daunting and multiple. The agreement will encourage a more joined up approach between each party by maintaining the important public health regulatory compliance, but with a close working relationship where up-to-date guidance is easily and freely accessible.
Food and Drink Scotch Whisky Association The Scotch Whisky industry is vital to Britain’s export success. Overseas shipments of Scotch are worth around £4 billion every year – making up a quarter of UK food and drink exports – and it is a drink of choice in around 200 markets. But such success cannot be taken for granted and that’s why trade agreements really matter for Scotch.
The US is our largest market by value – worth around £750 million annually. Scotch already enjoys a zero tariff, a reasonable and non-discriminatory excise duty and strong legal protection in the US. The current favourable environment means only modest commercial benefits will emerge from TTIP for the industry. But further liberalisation will be good for Scotch, and other UK exports.
The Scotch Whisky Association is the industry trade body and we work to sustain Scotch Whisky’s place as the world’s leading high-quality spirit drink and its long-term growth worldwide. Ensuring that Scotch benefits from free trade agreements (FTAs) is a key part of our role. That’s why we are supportive of the EU-US Transatlantic Trade and Investment Partnership.
And there will be some direct advantages for Scotch from TTIP. Along with spiritsEUROPE and the Distilled Spirits Council of the US, we have proposed a ‘spirits annex’ to be included in the TTIP text. This would set globally relevant rules for labelling, certification and testing of spirit drinks. The annex would potentially remove cost, complexity and uncertainty
surrounding the import environment and would be a boost to smaller exporters of Scotch in particular. More robust dispute settlement procedures, new arrangements for regular dialogue on spirit drink issues and the end of border charges in the US would all help Scotch. Although there is a zero import tariff, Scotch is still subject to two customs fees. Their removal, through TTIP, could save the industry almost £4 million each year. Looking at the bigger picture and taking a long-term view, an ambitious TTIP would set an important precedent, creating a gold standard for future FTAs in markets where trade barriers are a bigger commercial issue. That is the type of global environment in which Scotch Whisky can continue to thrive.
US largest market by value
Thank you to Lilly for making this publication possible
Open for Business Series Partners British-American Business Council, British-American Business Council Midlands, British-American Business Council North West, BT, Chemicals Industry Association, Chemicals Northwest, Department for Business, Innovation & Skills, East Midlands Chamber, European Commission Representation in the United Kingdom, Europe Direct Birmingham, Federation of Small Business, Foreign Commonwealth Office, Jaguar Land Rover, Lilly, NHS European Office, Oxford Academic Health Science Network, UK Trade & Investment, UPS, US Embassy London, Walker & Son (A division of Samworth Brothers) Our thanks to Ozzie Adams for design and support throughout the series. BritishAmerican Business BritishAmerican Business (BAB) was formed in the year 2000, through a merger that incorporated the American Chamber of Commerce (UK) and British-American Chamber of Commerce (US) into a single preeminent business organization, dedicated to serve its members on both sides of the Atlantic. BAB is recognized as a leading transatlantic business organization, dedicated to helping its member companies build their business on both sides of the Atlantic through high-level connections, insights and shared purpose. We stand for the best of Transatlantic Business at work to deliver superior performance and returns in global markets.
To read more TTIP stories visit www.babinc.org/policy
BritishAmerican Business firstname.lastname@example.org +44 (0) 20 7290 9888 www.babinc.org @BABPolicy
Published on Feb 26, 2016