British American Business 2008

British American Business 2008 | Welcome | US Ambassador

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US AMBASSADOR

Sustaining the
special relationship

The RT Hon Ambassador Robert Holmes Tuttle, US Ambassador to the Court of St James’s, explains what makes the US/UK partnership so unique

The partnership between the US and the UK, often described as “the special relationship’’ or “a transatlantic partnership”, is essentially the manifestation of two countries that share common values and seek common objectives.

This special relationship has not only been the economic engine for our own countries, but for the world at large. Since Adam Smith wrote his famous treatise in Scotland over 200 years ago, the UK and the US have put their faith in an economic system that is based on innovation, growth and development, supported by policies of free trade and low tariffs. In this vein, I am pleased to welcome readers to the 2008 edition of the British American Business Handbook.

In the pages that follow you will find a wealth of resources to help you do business in the UK. While reviewing this information, keep in mind a few key facts:

Last year, total trade in goods and services between the US and the UK amounted to over $184bn, and investments reached a combined total of nearly $670bn;
The US and the UK are the largest foreign investors in each other’s country, representing the largest bilateral investment relationship in the world;
Forty per cent of overseas direct investment in the UK is from the US, and 17% of direct investment in the US is from the UK;
Each day, more than a million British citizens report to work at US companies based in the UK. Across the Atlantic, a similar number of Americans report for work at UK firms based in the US.

The figures above are not the result of happenstance or luck – they are the product of a concerted effort to make the UK one of the leading destinations for American exports and the number one destination for US direct investment abroad. While the appeal of the UK market is evident, success does not come without challenges and hard work. The information contained in this book will help you navigate these challenges by providing you with a good starting point.

The US Commercial Service can provide market research, trade leads, export counseling, and other cost-effective services to American companies. Likewise, there are services available from the UK government, as well as a number of American cities and states, for potential investors and exporters.

Of course, BritishAmerican Business also plays a key role and provides a transatlantic bridge, allowing businesses to meet others like themselves and to have access to resources such as the one you are presently reading. The partnership between the US and the UK has a long history of success and a willingness to work together towards a common goal.

I encourage you to take full advantage of the support available from all of the organizations featured in this handbook and become part of this strong and dynamic US/UK success story.

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