In this edition:
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President's message
- Christmas lunch recap
- Special offer from HIghclere Castle Gin
- Consul General's message
- From the British Consulate
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- Events of interest
- BAB Network
- UK/US Trade Updates
- Fun movies to watch
- Resources
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A message from our President
Dear all,
At this time of year I’m always reflective of successes and failures, of wins and losses. While the business landscape for many of us has brought change and challenge, one thing that’s been a constant has been the amazing network of connections made through BABCNE. And, for that I’m extremely grateful.
It’s been a tough few years for all likes of business associations, but if our annual Christmas luncheon is any indication of what’s to come, the organization is poised for considerable growth. Two hundred of our American and British colleagues ate, drank and were merry at the Harvard Club this past Friday. Thanks to all that came and contributed to a truly special event.
2024 has some great programming and social events in store. Watch our website for details.
Wishing you and yours a very happy and healthy holiday season.
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Darlene Hollywood
President, BABCNE President, Hollywood Agency
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A big Thank you for our Christmas luncheon Supporters!
Over 200 guests enjoyed the comradeship, traditional meal, entertainment and good cheer at the Harvard Club, which opened the business holiday season in Greater Boston!
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Many of you tasted the special cocktail served at our Christmas lunch. Highclere Castle Gin has offered BABCNE members a discounted price for a bottle of the gin used during the holiday season. Use promo code BABCNE upon checkout to save $5.00 at:
https://highclerecastlegin.com/best-gin/
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From the British Consulate |
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An incredibly busy period for the Consulate, which saw Consul General Peter Abbot and our team doing two ‘pop-up Consulates’ and meeting Governor Mills of Maine and Gov Scott of Vermont. A business highlight in Vermont was seeing the future of flight with vertical takeoff aeroplanes at BETA Technologies and in Maine visiting FDI client WEX to meet senior leaders and talk about UK growth.
Dr Abbott also swore in 10 new British Citizens, including one lady whose father was an American soldier based in England during WWII and whose British mother made Spitfires for the Royal Air Force!. He hosted several rounds of New England interviews for the prestigious Marshall Scholarships and held a promotional program with Whittards of Chelsea at the Residence for potential buyers. It was a particular pleasure to host the first Annual Scot’s of New England Awards at the Residence and honour the brilliant work being undertaken in support of Scottish connections.
We hosted visits by the National Security Strategic Investment Fund, UK Dept. of Health and Social Care, Exchecquer Secretary to the Treasury, an InnovateUK Offshore Wind delegation, the UK Financial Conduct Authority who engaged State Street and the Boston Fed, our North America Sector Director for Technology who talked about the UK AI Safety Summit. Also a very busy period for company engagement, with senior meetings. It was a huge pleasure to meet the CEO of medical device manufacturer Tecomet (at the Residence for tea) and Scott Strazik, CEO of GE Vernova (at their fabulous new HQ in Cambridge).
To learn more about the Consulate's recent work, watch Dr. Abbott's message above.
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Tree cutting with Governor Scott of VT |
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Dr. Abbott and Kirsten Chambers Taylor with Scott Strazik, CEO, GE Vernova |
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Upcoming events that may be of interest |
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Massachusetts Export Center’s Export Expo
January 25 & 26, 2024
Join us for the Export Expo – the state’s largest and most important export event of the year that brings together resources, training and information for the local exporting community.
The Massachusetts Export Center’s Export Expo provides a forum for exporters to connect with the wide range of export resources available in Massachusetts, while learning about issues that impact their day-to-day operations.
This year’s Export Expo will again be a virtual event that will include an exhibit area featuring government, non-profit and private sector service providers serving the export community. The Export Expo will also feature a lineup of workshops, panel discussions and special addresses on a wide variety of export-related topics. The Export Expo will feature influential guest speakers and opportunities to connect with experts to answer your specific export questions.
We hope that you will join us for the same timely and important international trade content in a convenient and safe virtual format! Our virtual platform will provide opportunities for networking and allow participants to view all of the conference’s content, so you won’t miss a thing!
To learn more, please visit: https://www.msbdc.org/export/expo/
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Ransomware Webinar: Is your company safe? Are you prepared?
Join us for a complimentary webinar held in collaboration with the Coalition of NE Companies for Trade (CONECT) and Women in World Trade, NE (WWTNE)
January 30, 2024
12:00 pm to 1:00 pm EST
Ransomware is a major pocketbook issue that impacts businesses and people all around the globe each year.
In this informational webinar, attendees will gain a better understanding of ransomware attacks including its ever-evolving tactics and trends.
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Our presenter, Linn Freedman, Chair Privacy & Cybersecurity Team at Robinson and Cole, will look at different ways to prevent ransomware attacks on your organization, how to respond if attacked, and will discuss the misconceptions about cyber insurance and its coverage.
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British American Business Network
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The British American Business Network (BABN) strengthens and supports its chapters through content, connections and opportunities. Chapters, in turn, help member companies grow their businesses by leveraging network connections across the UK and North America.
The BABN also engages with the US and UK governments on a broad range of policy issues impacting the trade of goods and services between the UK and North America. For more details visit: https://babn.org/about-us/
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You may be interested in viewing the events of the twenty chapters of the British American Business Network.
The BABCNE is a founding member of this network.
The complete event list, which is updated monthly, can be accessed on this link: https://babn.org/events/
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BAB Policy Agenda 23/24
Recommendations for a 21st Century
US-UK Economic Partnership
(Agenda produced by the London/New York chapter)
US President Biden and UK Prime Minister Sunak met several times in 2023, giving them the chance to rebuild transatlantic alignment on important issues such as energy transition, security and defense cooperation, and transatlantic leadership around the regulation and use of artificial intelligence (AI). A tangible outcome of these meetings was the Atlantic Declaration, an ambitious list of aspirations.
The list focused on four focus areas, ranging from:
- Leadership in critical and emerging technologies
- Cooperation on economic security
- Technology protection toolkits and supply chains, digital transformation and
- Clean energy.
These objectives can, if implemented, be at least as important as a traditional free trade agreement, perhaps even more so.
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Did you know....
The UNITED Act is currently up in the U.S. Senate. This Act would give the Executive branch temporary Trade Promotion Authority to negotiate a free trade agreement with the U.K. only. |
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UK and Florida signs pact to boost trade
The UK and Florida signed the 7th UK-US state level Memorandum of Understanding
to boost trade and investment.
Press Release: Department for Business and Trade and The Rt Hon Kemi Badenoch MP, 14 November 2023
Business and Trade Secretary Kemi Badenoch and Florida Governor Ron DeSantis signed a Memorandum of Understanding to encourage trade between the UK and Florida. The Pact targeted at high-potential sectors such as space and fintech and designed to boost exports and investment between the UK and Florida.
UK will now have MoUs with seven US states – Indiana, North Carolina, South Carolina, Oklahoma, Utah, Washington, and Florida – with a combined GDP of £3.3tn, just under the GDP of Germany. The UK is also actively engaging with further states including Texas, California, Colorado, and Illinois.
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The UK's Accession Into The CPTPP:
A Strategic Trade Move
TPM Consultants, November 3, 2023
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a free trade agreement between eleven countries in the Indo-Pacific region, including Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, that established a trade bloc in 2018.
In July 2023, the UK signed an Accession Protocol with the CPTPP parties, making it the first new member to join since the establishment of the bloc. This accession into the CPTPP puts the UK in an advantageous position with a dynamic group of countries.
The crux of the accession of the UK into this particular trade bloc is the wide host of trade benefits that it brings with it. It is expected that the move will bring certainty in terms of trade as UK businesses will operate on the same level as local firms, which will lead to reduced red tape and bureaucracy.
The final impact of the accession itself will not be revealed till much after 2024, but by taking the first step into this bloc, the UK has set the stage for increased affirmative action from the European region.
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EU proposes three-year delay before EV tariffs hit UK trade
AJOT, Alberto Nardelli and Jorge Valero, December 6, 2023
The European Union proposed delaying by three years tariffs on electric vehicles traded with the UK that are set to kick in on January 1, in a win for carmakers that warned the rules would unnecessarily hurt their operations.
Under current post-Brexit arrangements to be phased in from January 1, EVs moving between the UK and the European Union would draw a 10% duty if less than 45% of their value comes from the region, with the policy meant to encourage development of Europe’s battery supply chain.
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Virgin Atlantic 100% SAF-fueled transatlantic flight – another step in the right direction
AJOT, November 27, 2023
Virgin Atlantic (Virgin), the British airline, received approval by the UK Civil Aviation Authority (CAA) to use 100% Sustainable Aviation Fuel (SAF) for the first ever long-haul test flight across the Atlantic Ocean from London Heathrow to New York JFK on November 28, 2023. We are of the opinion that this long-haul transatlantic flight represents an important milestone toward the ultimate long-term goal of SAF transition at scale, providing a high-profile demonstration of the viability of the technology.
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What are the main exports of Massachusetts?
EnergyPortal.eu. Terence West, December 10, 2023
From high-tech goods to agricultural products, Massachusetts has a strong presence in various industries. This article explores the main exports of Massachusetts, shedding light on the state’s economic strengths and contributions to the global market.
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COP28 closes with fossil fuel wind-down deal
City A.M., Rhodri MOrgan, December 13, 2023
COP28 President Sultan al-Jaber and UNFCCC Boss Simon Stiell.
The deal is not legally-binding, but calls on all countries to move away from the use of fossil fuels, for the first time in almost 30 years of COP climate summits. The consensus was reached after talks lasted well into the night.
The draft text did not mention “phasing out” fossil fuels, which prompted the US, UK and the UN collective to push for stronger wording. In the end, “transition away” was chosen.
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NTE 2023/24: UK: Further sanctions against Russia, introduced
Published by the UK Department for Business and Trade
December 18, 2023
New measures prohibit the export, supply and delivery, and making available to, or for use in, Russia, of newly sanctioned items as well as the provision of related ancillary services.
The newly sanctioned items have been added to existing schedules in the 2019 Regulations.
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Fun to watch over the Holidays |
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Christmas on Mistletoe Farm
After inheriting a farm at Christmas time, a widowed father makes a bumpy adjustment to village life while his kids hatch a plan to stay there forever.
This is not a typical Hallmark moment, but a funny, frenetic flick that is chock full of quirky characters. The colors are bright and cheery and give the film a real upbeat vibe. I loved all the adorable animals.
Like most holiday movies, the plot is simplistic but it has a lot of heart. It focuses on family and new beginnings after loss. Great holiday spirit.
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The Eternal Daughter
Tilda Swinton stars in clever ghost story
Review by Victoria Luxford, November 27, 2023. Victoria is City A.M.'s film editor and a regular on both TV and radio discussing the latest movie releases.
Not even a pandemic could stop the momentum of Joanna Hogg, the British filmmaker who became an arthouse favourite with The Souvenir and its sequel. Produced by Martin Scorsese, a self-proclaimed fan of Hogg, The Eternal Daughter was filmed in secret during Lockdown.
Foreboding from the very beginning, Hogg uses a number of clever tricks to keep the viewer on edge. From the prickly and unhelpful hotel receptionist (Carly-Sophia Davies) to the fog that wraps around the grounds, the tension builds as the mystery heightens.
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A Walk in the Woods
After years of living in Britain, celebrated travel writer Bill Bryson returns to New Hampshire. But instead of retiring, the 60-year-old announces he's going to hike over two thousand miles along the Appalachian Trail.
Mark Kermode of BBC Radio, Five Live, reviews below
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BritishAmerican Business (BAB) Trade
& Investment Guide to the UK
for US Companies
The Trade & Investment Guide is a crucial resource for US companies looking to explore the exciting opportunities the UK has to offer. It provides practical advice on all the issues that companies must consider when expanding, from logistics and legal services to finance and immigration.
Details of the BAB network chapters are listed on pages 104-105.
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Industry outlook 2024
Challenges, opportunities and trends to watch in six sectors
The past few years have been turbulent for most companies as the pandemic, soaring commodity prices, high interest rates and political disruption resulted in profits for many and bankruptcy for some. Will conditions stabilise in 2024?
EIU’s annual industry report, provides businesses with foresight of the critical global trends and threats that will affect their sector in the coming year.
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Trade Tariff: look up commodity codes, duty
and VAT rates
Use this service to find a commodity code for goods you’re importing
to or exporting from the UK.
You can also use the service to:
- check if there’s duty or VAT to pay
- find out about suspensions or reductions
- You’ll need a commodity code when you fill in a customs declaration form, so you pay the correct amount of tax and duties.
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BritishAmerican Business’s "BridgeUSA" Exchange Visitor Program
BABC J1 (Exchange Visitor) Program
What is the purpose of the program?
To provide an expedient, cost-effective way for member companies of the BABC in the United States to bring qualified executives into the country for up to 18 months of training and work experience.
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Be responsible! Be #TravelAware in the UK and USA
IS YOUR PASSPORT UP TO DATE? You need at least three months validity to enter the UK... and renewal wait times are lengthy, so be prepared!
Sign up for alerts @FCDOtravelGovUK and @TravelGov
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BABCNE SOCIAL MEDIA
We invite you to follow us, post on our pages and build your network among our community.
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BABCNE Mission: To foster business development and networking opportunities between the United Kingdom and New England.
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