News for British-American Business Association

IMF rows back on Brexit warnings as UK poised to become fastest growing G7 economy

The UK will be the fastest growing major economy this year, according to the International Monetary Fund, as it rowed back on predictions that a vote to leave the European Union could plunge the country into recession and trigger a stock market crash.

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Brexit - Notice to the Membership

On a historic night, June 23rd 2016, the people of the United Kingdom voted to leave the European Union.

This will open a phase of uncertainty and adjustments, as trans-Atlantic businesses may be concerned as to how the vote will impact their activities in the UK and the US. However the Prime Minister and the Governor of the Bank of England have today stated that, with the UK’s strong economy, 'there will be no initial change in the way our people can travel, in the way our goods can move, or the way our services can be sold'.

A full set of remarks issued today by Prime Minister David Cameron and Bank of England Governor Mark Carney, have been sent on to us by the British Embassy in DC and are included below.

The strength of the UK-US economic relations over the long term and many aspects of the UK's attractiveness for foreign investors prove that the UK provides a business-friendly environment that strongly and successfully serves businesses, investors and people carrying out trans-Atlantic business.

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Washington Times Interview with BABA President

BABA President, Eamonn Cooney, was interviewed by the Washington Times on June 28, 2016 titled "Brexit Creates Questions for Transatlantic Trade Sectors"

“It’s a huge change in history for the U.K., but from a business and trade point of view, we do firmly believe that it will not adversely affect trade, and that U.K. and U.S. trade will continue to be a strong relationship as it has in the past.”

...For the full article click here.

Joint Press Conference between British Foreign Secretary Philip Hammond and US Foreign Secretary John Kerry

FOREIGN SECRETARY HAMMOND:

Good afternoon.  I’m delighted to welcome Secretary Kerry today.  His visit here just three days after the referendum result underlines the strength of the special relationship and indeed Britain’s many friendships around the world, and I very much appreciate him taking the time to visit with us today.

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