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South East would reap benefits of EU-US trade deal

An EU-US free trade agreement would offer a huge boost to the economy in the South East, Catherine Bearder MEP has said.

key_obama.pngMEPs in Strasbourg today (Thursday, May 23) backed the start of historic trade talks between the EU and the US worth up to £10 billion a year to the British economy or nearly £400 per household.

After the EU, the US is the biggest foreign investor in the UK, accounting for a quarter of all overseas investments and supporting around a million jobs.

A EU-US Free Trade Agreement would help even more US firms to set up shop in the UK.

Catherine said: "This is about making the EU work for us by bringing down barriers. The UK is already the largest single destination globally for US investment, acting as a spring board into the common EU market.

"We need to shift the focus away from the endless Tory infighting on Europe and get on with creating jobs and growth in Britain."

The EU and US together represent about half (47 per cent) of the global economy and 30 per cent of global trade.

Firms could benefit from a reduction in red tape and an eradication of trade tariffs, which would make it easier to import and export parts and products.

For more information on US companies in the South east region: http://www.british-american business.com/p_072_investing_South_East_England.php

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