A review of the year just ending and a glimpse of what’s to come...
Business people – a special breed
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Business people – a special breed
Reacting to the UK formally joining the Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP) today, William Bain, Head of Trade Policy at the BCC, said:
What is the CPTPP? The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement comprising 11 member countries across Asia, the Pacific, and the Americas: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Together, these nations represent 13% of global GDP (15% with the UK’s inclusion) and a consumer base of over 500 million people.Originally signed in 2018, the CPTPP is designed to reduce tariffs on 95% of goods traded between members, facilitate modern rules for services and digital trade, and enhance regulatory cooperation. Unlike the EU, it is not a single market or a customs union, meaning members retain sovereignty over their regulations while committing to trade cooperation.
The latest ONS (Office of National Statistics) trade data for the UK was released this morning, showing a drop in goods exports and a rise in services exports. However, the more extended term three-month trend shows a fall in both.
Chancellor, Rachel Reeves, met with the British Chambers of Commerce (BCC) Business Council this morning (Wednesday 11th Dec), to discuss October’s Budget and the Government’s long-term plans to boost growth.
A new Global Britain report from the British Chambers of Commerce, of which Business West is a key player, is urging the Government to get the UK match fit for a more fractious era in trade. The report has 26 recommendations focussed on export growth, trade alliances, investment and economic diplomacy, regulatory reform and infrastructure. Its top asks include:
An alliance of leading organisations, including Business West, has launched an ambitious charitable programme to “make loneliness a stranger.”
Sir David McMurtry, one of the titans of Gloucestershire business, has died aged 84.
On December 4th, members of the Bristol Initiative convened at We The Curious for the final quarterly meeting of 2024. This event provided an opportunity to reflect on the year’s achievements and outline priorities for 2025, with a focus on collaboration and addressing the key challenges facing the city and region.