Commerce Secretary hails role of free trade in global security at Transatlantic Defense Summit

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  • UK hosts fifth Atlantic Future Forum aboard HMS Queen Elizabeth in New York Harbor
  • Commerce Secretary Kemi Badenoch will deliver a keynote address and the Prime Minister has recorded the keynote address
  • The Trade Secretary will encourage transatlantic trade and investment, telling an audience of US investors why the UK is the best place in the world to invest

UK today [28 September] kicks off the fifth annual Atlantic Futures Forum (AFF), bringing together British and American captains of industry aboard the UK’s largest and most powerful warship, the HMS Queen Elizabeth.

The two-day event will focus on new approaches to global security and future technologies to tackle everything from war in Ukraine to climate change, with UK companies from defence, cyber and technology capable of networking with potential investors.

Speaking to more than 450 government and business leaders, Commerce Secretary Kemi Badenoch will highlight the role of free trade in global economic security and economic growth. She will say that our two like-minded democracies must continue to work together to uphold the rules-based international order.

Commerce Secretary MP Rt Hon Kemi Badenoch said:

“The United States is our most important trade, defense and security partner. We share the same values: freedom, free trade and the rule of law. Our special relationship means that together we are a force for progress as we confront countries that threaten these values.

“The Atlantic Future Forum represents an incredible opportunity for our two nations to exchange skills, ideas and technologies. Every morning over a million people get up and go to work for British companies in America, and over a million do the same for American companies in the UK.

“The UK is a low-tax nation rich in talent and innovation and I will show America’s biggest companies that we are ready to be their investment partner of choice.”

The US has been the UK’s largest foreign investment partner country for the past two decades. US companies employed nearly 1.5 million people in the UK in 2019, up three-quarters since 1997. US investment is also supporting the UK’s upgrading agenda, with 60% of those jobs based outside of London and the South East.

After his speech, Badenoch will use his two-day visit to New York to capitalize on growing investor interest in the UK by meeting New York-based investors to promote the UK as a defense superpower. , cyber and technology and a source of unparalleled talent. She will visit Mastercard’s new “Experience Center” in their “Tech Hub” in Manhattan’s Flatiron district and meet with some of the biggest US and UK companies at a UK US business roundtable to discuss business opportunities. investment that can contribute to the growth of the UK economy.

Badenoch will sit down with his counterpart in the Biden administration, U.S. Trade Representative Katherine Tai, to discuss how our two countries can deepen our already thriving trade relationship.

The Commerce Secretary will also use her time in the United States to highlight opportunities unlocking at the state level, following the signing of recent memorandums of understanding (MoUs) with Indiana and North Carolina. The MoUs are designed to cut red tape and remove barriers faced by UK businesses exporting to the US.

The UK is working on new memorandums of understanding with Oklahoma and South Carolina in the coming months and is looking to advance talks with other states this year.

Background:

  • Now in its fifth year, the annual Defence, Security, Trade and Technology Forum is hosted by the UK Government with full funding from global industry partners.
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