Latest News

Guidance on EU nationals a positive step, says BCC

Commenting on the draft rules on the EU Settlement Scheme statement of intent, published today by the Home Office, Mike Spicer, Director of Research at the British Chambers of Commerce (BCC), said:

“The guidance published today will be welcomed by employers and EU employees alike. It provides clear information on the status of EU nationals resident in the UK and those who arrive during the transition period after March next year. We know that some businesses lost European employees in the aftermath of the referendum, owing to the uncertainty they faced, so assurances that they can stay are a positive step forward. The next step is for the draft rules to be laid before Parliament and we urge all Parliamentarians to ensure this stage is concluded swiftly.

“We look forward to working with the Home Office to ensure greater clarity on this and other areas in the long term.”

B2B Brokerage event in the Czech Republic

Read details here.

In October (19-20.10.2018) DRONETECH are organizing a B2B event related to modern technologies, especially in the drone industry and unmanned aerial vehicles. Dronetech 2018 - B2B Event - https://dronetech2018.b2match.io/

Why is it worth taking part in meetings?

The Brokerage Event (B2B meetings) gives you the opportunity to present your product, technology or research offer, not only to domestic partners, but above all to foreign ones. Meetings of this type often result in establishing long-term international cooperation.
The B2B Event is an ideal platform for:

• observing the market and acquiring knowledge about the latest industry trends,
• discussing licensing, production and distribution agreements,
• identify potential partners to strengthen export activities.

To find out more click here.

 

Moneycorp: state of the pound following the vote of the Brexit bill in June

A major vote in parliament on 12th June on amendments to the Brexit bill delivered a lot of drama but little in the way of clear answers. On the surface, the government won the day and voted to reject the majority of the Lords’ amendments. However, there were heated words from both sides in parliament and PM Theresa May was harried by front and back bench alike. The morning of the vote brought the resignation of Justice Minister Dr Phillip Lee. He resigned in order to vote against the government and accused the government of trying to "limit" Parliament's role in the process. In the end, Dr Lee abstained from the vote after receiving last-minute assurances of concessions from the government on the key issue of whether Parliament has any say on the final UK-EU Brexit deal.

view full document here.

BCC Quarterly Economic Survey: UK economy treading water despite export boost

Based on the responses of over 7,100 businesses, the survey shows that UK economic growth remained subdued in the first quarter of 2018, despite a strong export performance.

In the service sector, a key driver of the UK economy, the proportion of firms reporting improved export sales and orders rose slightly, although overall growth remains muted and relatively unchanged from the previous three months. View full article here.

BCC: Government must establish permanent dialogue with business on future trade deals

The British Chambers of Commerce (BCC) is today (Wednesday) intensifying its call for the UK Government to establish a formal, permanent dialogue with business, consumer and civil society organisations to ensure that trade negotiations - including those on Brexit - draw on the detailed knowledge, expertise and experience of the private and third sector. View full article here.

Healthcare

A huge effort is underway in Egypt to upgrade public and private healthcare facilities. The government is looking for investment in medical manufacturing facilities, particularly in the new Suez Canal Economic Zone.

With a growing population already over 100 million to accommodate, Egypt’s Ministry of Housing is building new cities that require hospitals and medical centres. There is a further need for high-quality medical furniture, appliances, surgical equipment, disposables and pharmaceuticals.

Transportation

Egypt’s Ministry of Transport has significant development targets in three main areas; roads & bridges, railways & metro, and maritime (ports, dry ports and river ports). The Ministry is actively looking for private sector involvement in the construction of a new road network (2000km), the renewal of 1200km rail tracks, the purchase and local manufacturing of 1300 rail passenger coaches, the maintenance of 150 rail stations, and replacement & renewal of rolling stocks (priority). The metro system is expanding from 77km currently to 300km by 2024, a total of 6 lines will service the Greater Cairo area.

Their three-day programme includes meetings with senior officials in government, site visits and B2B opportunities. 

For more information please visit The Egyptian British Chamber of Commerce linked here or email Karin Van Wesep: karin@theebcc.com

British Chamber of Commerce - Key Changes to VAT

Our colleague Joe Hepworth, CEO British Centres for Business in Saudi Arabia has drawn our attention to a key change to VAT that will be introduced into the United Arab Emirates on 1st January 2018. All GCC countries have agreed that it will be mandatory for companies with revenue of over approximately US$100,000 to be VAT registered with the Federal Tax Authority.  It will be voluntary for companies with a turnover of more than US$50,000, but with thresholds so low, the majority of companies in the UAE will pay VAT.

With the go-live date of VAT in the region just 2 months away those exporting to GCC countries using the DDP Incoterm should be aware of the 5% charge being introduced. The Charge of VAT on imports will work in a similar way as it does in the EU at present with the VAT being paid before goods can be released.  Where appropriate the importer will be able to reclaim the VAT paid.

For the latest information as well as more detailed information please refer to the UAE Ministry of Finance website

Please share this email with colleagues at your Chamber as appropriate.

If you would like to learn more about any of the news please contact Rachel Cornes