4th Jun 2019 07:28
LONDON (Alliance News) - Prime Minister Theresa May and US President Donald Trump will co-host a meeting of British and American business leaders in a bid to boost trade.
The prime minister plans to use the round table event on Tuesday to strengthen economic ties between the two countries.
The gathering at St James' Palace is also due to be attended by the Duke of York, Chancellor of the Exchequer Philip Hammond and International Trade Secretary Liam Fox.
US Secretary of State Mike Pompeo, US Secretary of the Treasury Steven Mnuchin and the president's daughter and assistant Ivanka Trump are expected at the meeting.
The gathering will bring together 10 leading companies, five from each nation, to discuss business opportunities and look at sectors where expanding links would benefit both sides.
Discussions are expected to focus on research, development and innovation, investment in infrastructure, and the scope for closer partnership in regulation and financial services.
Chief executives and senior representatives from BAE Systems PLC, GlaxoSmithKline PLC, National Grid PLC, Barclays PLC, Reckitt Benckiser Group PLC, JP Morgan Chase & Co, Lockheed Martin, Goldman Sachs International, Bechtel and Splunk are due to attend.
Referring to the UK-US economic relationship, the prime minister is expected to tell the meeting: "It is a great partnership, but one I believe we can make greater still.
"With a bilateral free trade agreement, with broader economic co-operation, and by continuing to work together to underpin, shape and influence the global economy and its rules and institutions – keeping markets free, fair and open, and keeping our industries competitive.
"There are opportunities to seize, and there are challenges we need to work together to tackle. Today, let us look at how we do both.
"Through dialogue like this we can ensure that our economic partnership not only endures but continues to grow stronger for many years to come – making our businesses more competitive, and creating jobs, opportunity and prosperity for all our people."
Emma Walmsley, chief executive of GSK, said: "The US is one of the most important sources of healthcare innovation in the world.
"Life sciences is also a strategic strength for the UK and there is a great opportunity for us to partner further to retain and accelerate both countries' global leadership in this sector, generating better outcomes for patients and economic growth on both sides of the Atlantic."
Roger Carr, chairman of BAE Systems, said: "Our relationship with the US of America is long-standing and operates to our mutual benefit on the firm foundation of trust, transparency and true partnership."
The US is Britain's single biggest business partner, with trade between the two countries worth GBP190 billion in 2018.
By Shaun Connolly, Press Association Political Correspondent
source: Press Association
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