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Welcome to the November BABN Policy and Trade Update.
Over the past few weeks, we saw the 7th installation of the US-UK SME Dialogue, hosted in California, with a busy two-day schedule of discussions to continue the ongoing conversation of how to best support SMEs in the US and UK.
Another highlight in the transatlantic space was the first Global AI Safety Summit. Hosted at Bletchley Park in the UK for two days, we saw PM Rishi Sunak and VP Kamala Harris lead the US and UK in talks between governments, businesses, and organisations across the globe.
See below for a breakdown of policy and trade headlines and our published works.
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7th US-UK SME Dialogue
4-5 October 2023
What it was: On October 4th and 5th in Indio, California, government representatives alongside 70 US and UK small and medium sized businesses and business organisations participated in the 7th iteration of the US-UK SME Dialogue. During the Dialogue, a series of panel discussions covered opportunities for SMEs looking to grow through US-UK trade.
What it accomplished: The Dialogue served as continuation of efforts to bolster US-UK trade and investment promotion and included the launch of updated resources that provide advice and support for SMEs wanting to export to the US.
Want to learn more? See the UK government's statement and links to relevant toolkits here.
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AI Safety Summit
1-2 November 2023
An overview: The highly anticipated AI Safety Summit was held at Bletchley Park on November 1st and 2nd to advance a global conversation on how to best manage the risks from rapidly developing frontier AI. Summit attendees included representatives from governments, multilateral organisations, technology companies, academia, and civil society.
In summary: The Summit focused on 2 particular categories of risk in relation to frontier AI:
- Misuse risks where a bad actor is aided by new AI capabilities to create harm
- Loss of control risks that could emerge from advanced systems that we would seek to be aligned with our values and intentions
Summit preparation materials stated 5 objectives including:
- A shared understanding of AI frontier risks
- A forward process for international collaboration on frontier AI safety
- Measures for individual organisations to take for increased frontier AI safety
- Potential collaboration areas for AI safety research
- A showcase on how safe AI developments can be used for good
What was the outcome? Beyond the value of the opportunity for high-level representatives to gather for an exclusively AI safety-focused discussion, participating countries also agreed to continue cooperating and coordinating on AI development with safety as a priority. Read more about the agreement in the Bletchley Declaration.
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AI Policy Paper
October 2023
What it is: Just before the AI Safety Summit on October 31st, BAB released its policy paper welcoming transatlantic collaboration on AI. The paper seeks to establish how the discussions held at the AI Safety Summit in Bletchley Park can and should help advance the global AI discourse.
Want to learn more? Please contact Holly Harris (Washington DC) ([email protected]) if you have further questions.
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Atlantic Declaration RAG Review
November 2023
With the Atlantic Declaration having been signed almost 6 months ago, BAB will be writing a RAG review to look at the progression of US and UK economic partnership since. As negotiations on a Critical Minerals Agreement continue, and the UK-US data bridge soon comes into effect, significant milestones are being reached in good time.
Want to submit your thoughts into our consultation process for our upcoming RAG review? Please contact Francesca Lentini ([email protected]).
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Foreign Influence Registration Scheme
1 December 2023
What it is: After the advocacy efforts to amend FIRS as part of the National Security Act earlier this year, a consultation has been opened to prepare for the formation of guidance to assist potential registrants and others in understanding their responsibility to the scheme.
When it is: The consultation closes December 1st. BAB is considering submitting a response asking that the draft guidance be more sector specific. If you have any contributions or examples to this end, or if you’d like to discuss, please contact Francesca Lentini ([email protected]).
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Call for Evidence: Smarter Regulation and Regulatory Landscape
7 January 2024
What it is: The UK government has issued a call for evidence on what works and what could be improved across the landscape of UK regulators.
When it is: The call for evidence closes January 7th 2024. If you would like BAB to respond, please contact Holly Harris ([email protected]).
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International Trade Week Returned
6 - 10 November 2023
What it is: International Trade Week is back for its 3rd year running. Led by the Department for Business and Trade, and in partnership with industry, the week's activities are for UK companies of all sizes and sectors - whether selling goods or services. Events, workshops and seminars will highlight the services, guidance, and expertise which the UK government and businesses can provide companies to grow their business both in the UK and internationally.
What will it focus on: The events will centre on 4 main themes:
1. Practical advice on exporting goods and services
2. Government services available to help exporters
3. Optimising ability to secure investment from overseas
4. Trade opportunities abroad - including the US, Middle East, and Indo-Pacific
International Trade Week 2022 saw record numbers of both events and attendees, and 2023's event is expected to be equally impressive.
Are you interested?: Email [email protected] to find out how you can be a part of ITW 2023.
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Going Global Live 2023
22 November 2023 - 4 March 2024
Overview: This year's installations of Going Global Live will be held in London, Los Angeles, and Miami. The 2-day events help businesses looking to expand internationally, export products, and set up overseas operations. In partnership with the Department for Business and Trade, Going Global Live brings together a multitude of businesses to prepare them with everything necessary for international trade, including SME support on navigating the post-Brexit trade landscape.
Want to attend?: Free tickets for all 3 locations are available on their website here.
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Help to Grow Campaign x Small Business Saturday
25 November 2023
What it is: The UK government launched its Help to Grow campaign in 2022, a scheme which offers digital and management training designed to help small businesses reach their full potential. The campaign is planning involvement around Small Business Saturday, a grassroots, non-commercial campaign which highlights small business success and encourages consumers to ‘shop local’ and support small businesses in their communities.
Want to learn more? Visit the campaign website here.
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BAB Trade & Investment Guide 2023-24
Overview: After the success of last year’s updated edition of the BAB Trade & Investment Guide to the UK, we are now working on an update on the BAB Trade and Investment Guide for UK companies seeking to expand to the US. Known as being the most comprehensive product in the market, the Guide will feature partners and features on anything practical companies need to know when starting their expansion journey, regional features, and integrate relevant government and third-party services.
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Thank you for reading this month's Policy and Trade Update. If you have any feedback or comments please contact us.
BAB participates in and offers policy and trade support to the BritishAmerican Business Network, a group of over 20 independent trade organisations across North America and the U.K. If you would like to learn more about the network and its activities, please visit our website.
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