The Chamber is proud to partner with the UK Government Office in San Diego to host our upcoming International Business Affairs Forum featuring a virtual presentation and roundtable discussion with Greg Hands MP, UK Minister of State for Trade Policy. The forum will take place on March 18 at 9:00am and highlight the UK-San Diego trade and investment relationship and explore the new opportunities that may arise from a new trade agreement between both countries. Minister Hands made an official visit to San Diego in 2017 and is familiar with our unique region and business environment.
The U.S. and the United Kingdom have a strong economic relationship with over $200 billion in trade taking place per year and a total of $1 trillion invested in each other’s economies. In addition, 93% of the businesses trading with the UK are small and medium sized enterprises across a variety of sectors. This relationship plays a pivotal role in California’s economy and supports 112,900 jobs for Californians.
From communications equipment and aerospace products to pharmaceuticals, San Diego companies export over $500 million worth of goods to the UK every year. The UK is also accountable for nearly 9,000 local jobs and almost 20% of all foreign investment into San Diego.
With a new, mutually agreed upon relationship with the EU in place and the potential to reinforce the existing relationship with the U.S. through a bilateral trade agreement, there is much to learn about the future of trade with our British partners.