12 December 2013

Recognising that the EU-United States trade deal, now under negotiation, could be worth £10 billion annually to this country, the Government wants to help UK tech firms get the most out of the deal.

The Department for Business, Innovation and Skills (BIS) is therefore asking technology firms to supply details if they have experienced any challenges in trading with the US.

The EU-US Transatlantic Trade and Investment Partnership (TTIP) has the potential to be the largest bilateral trade agreement in the world and will bring significant economic benefits in terms of jobs and growth to both sides of the Atlantic.

The UK Government believes that it signals the commitment of both sides to liberalising trade and developing rules and standards that open up trade and investment.

Gains will come also from eliminating tariffs because of the sheer volume of trade. Eliminating all tariffs on goods could save UK exporters almost £1 billion.

The Government is accordingly keen to learn from the experience of those tech firms already trading with the US and TechUK will host an industry round table early in the new year to discuss how TTIP could benefit UK tech firms.

More than 850 companies are members of TechUK. Collectively they employ more than 500,000 people, about half of all tech sector jobs in the UK. These companies range from leading FTSE 100 companies to new innovative start-ups.

The Deputy CEO of TechUK, Antony Walker said: "Meanwhile, if you have experience in trading with the US and have views about barriers to trade that should be addressed under TTIP please get in touch."

His email address is antony.walker@techuk.org.