News: Third UK-US Maritime Nations Forum held in Liverpool

• Business leaders to meet on HMS Prince of Wales to discuss US-UK Free Trade Agreement and how industry should respond to climate change
• HMS Prince of Wales is visiting affiliated city for first time
• Thousands of members of the public expected to visit during stay
• Trade between two countries currently stands at $261.9 billion

British and American business leaders will today meet aboard the HMS Prince of Wales as the new aircraft carrier visits Liverpool.

The carrier will play host to high-level discussions amongst company executives about the shape of the UK-US Free Trade Agreement, which the two countries are due to start negotiating.

The UK-US Maritime Nations Forum is being held aboard the 65,000-tonne aircraft carrier, itself a showcase of British engineering, technology and design, as well as a statement of British commitment to upholding global free trade rules. It is the third such Forum helping business think about the future of UK-US trade, with the first held in New York in 2018 and the second in Annapolis in November last year.

The summit takes place following the UK’s departure from the EU, with the country now able to develop its own independent international trade policy. Both the UK and US have made clear their intention to strike a bilateral trade agreement as a matter of priority.

Other topics for discussion aboard the warship include how the maritime sector should prepare for the UN’s global conference on climate change, COP26, to be hosted in Glasgow in November, and how the case for free trade can be made in an era of growing protectionism.

Major companies attending the summit include Atlantic Container Lines, the American Bureau of Shipping, Norton Rose Fulbright, HP, Maersk and Western Union. Officials from the UK’s Department for Transport and Department for International Trade will participate to inform the government’s preparations for the negotiations. The Forum will be chaired by Maritime UK Chair, Harry Theochari.

Maritime UK Chair, Harry Theochari, said:

“The UK and US are natural global partners, and no sector is more global or critical to trade than maritime.

"“Preparing to leave the EU asked new questions of our businesses – and necessitated a different way of thinking about trade and growth markets. That reappraisal of market opportunities can only be a good thing.

“Britain’s flagship HMS Prince of Wales symbolises both the UK’s capability and our unshakable commitment to protecting the global rules-based order upon which our sector and country relies. I’m looking forward to hearing from both British and American companies about what they need to see in a UK-US FTA, how we can work together ahead of COP 26 and how we can make the case for Free Trade today.

“The US is already the UK’s largest sovereign trading partner, but there is scope to do much more together. And that will only help drive investment, growth and jobs across our country. Not least around ports in coastal communities that serve as the engine of our trading, maritime nation.”  

Maritime Minister, Kelly Tolhurst, said:

“The UK is the natural place to do maritime business and these talks show our dedication to building on our success as an outward-facing global trading nation now that we have left the EU.

“I also welcome the discussions on climate change and look forward to seeing the role our two countries can play in securing clean growth opportunities for the industry in the years ahead.”

International Trade Minister, Graham Stuart MP, said:

“Striking ambitious free trade agreements with our partners around the world is one of the key opportunities of Britain becoming an independent trading nation.

“This week is a significant moment for UK-US trade as we publish our negotiating objectives ahead of starting negotiations and the UK-US Maritime forum is a great demonstration of how strong UK-US trade relations are across all sectors and regions.

“We are working closely with Maritime UK to promote the UK’s global maritime offer and to help companies address the US market.”

Peel Ports Group Sales and Marketing Director, Julia Bradley, said:

“Liverpool is the UK’s foremost port and is ideally positioned for increased trade with the US and indeed the rest of the Americas. It has the relevant investment and infrastructure to make it the UK’s most important and valuable trade link to take our commercial activities across the Atlantic to a new level.

“As we look ahead to a post-Brexit future, we must make the most of trade opportunities across the Atlantic for the sake of our economy and the Liverpool area is ideally placed to support a positive future for the nation’s import and export activity. Attention has inevitably turned west, and we are ready to play our part in ensuring a positive future for UK plc.”