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Dear Members & Friends of the Chamber
The strength of the Canada-UK relationship has been a recent feature of high-level meetings between politicians from both countries. Last week, Canadian Prime Minister Mark Carney met British Prime Minister Keir Starmer in Downing Street, noting that the ties between the two countries are closer than ever, including deep co-operation on trade and defence. Anita Anand, Canada's Minister for Foreign Affairs, in a meeting with Yvette Cooper, Secretary of State for Foreign, Commonwealth and Development Affairs, discussed the deep concern over the evolving conflict in the Middle East, along with its impact on global energy markets and energy security. And just yesterday, meeting on the margins of the 14th WTO Conference, Maninder Sindhu, Canada's Minister of International Trade, and Chris Bryant, the UK's Minister of State (Minister for Trade), continued the discussion on the theme of the importance of strengthening Canada-UK trade and security ties.
With trade and markets at the forefront of the news cycle, our focus in this edition then turns to International Trade, with articles including the Joint Ministerial Statement from the EU and the CPTPP from the 14th Ministerial Conference of the WTO in support of rules-based trade, and the multilateral trading system to ensure it is able to respond to current challenges. We also feature the UK nearing a key agreement with the EU 'to ease post-Brexit trade friction', and ASEAN and Canada expecting to finalise a free trade pact this year. Blair McDougall, Minister for Economic Transformation, is quoted as saying regarding the re-domiciliation regime that this 'is a clear signal that the UK is open for business. For too long, the complexity and cost of moving to the UK has been a barrier for companies wanting to be here'. It is hoped it will be simpler and cheaper for overseas companies to move their place of incorporation to the UK. And last but not least, articles on Canada's exporters adapting amid a complex global trade environment, one that may or may not have the US remaining in an amended USMCA deal with Canada and Mexico after 2026.
Event News
In March, we held two events in Toronto - an Economic Outlook for Canada breakfast roundtable sponsored by S&P Global, where we examined Canada’s AAA sovereign rating, the economic environment, export diversification, and other key trends as Q1 comes to an end, and the next day we hosted a networking evening with Trowbridge Tax Corporation at their Toronto offices. A big thank you to everyone who supported these events, and to our sponsors S&P Global and Trowbridge. We plan to return to host more events in the summer and autumn. During April to June, we have a number of events already scheduled and being promoted including the annual joint chambers International Wine, Beer, & Spirits evening at Drapers' Hall (April 20), our AGM and Lunch at the House of Lords (May 22), Annual Golf Day (May 28), 17th Annual Canadian Chief Economists' panel debate and lunch (June 10). Many more events are being added including a Member Networking night we are finalising for May 7. Do check our website regularly at www.canada-uk.org
Member News
This month, we offer a warm welcome to our newest members Steptoe LLP a- a leading international law firm with deep expertise in cross-border contentious, regulatory and transactional matters - and Maple Lion Limited - helping Canadian SME manufacturers expand into the UK without the costs usually associated with building an international sales channel. See below for further details.
Success Stories
We are always on the look-out for bilateral commercial success stories, such as QuadReal acquiring a UK self-storage portfolio, and forming a £480m joint venture partnership with Clear Sky, Montreal-based clothing brand Garage launching its storefronts in the UK, Brookfield and La Caisse agreeing a C$9bn takeover of Boralex, and Premium Scottish spirits brand Rutland Square Spirits entering Ontario's multi-billion-dollar market. If you have any you’d like to bring to our attention, then drop us a line at: info@canada-uk.org
We thank you for your continued support. We are here to assist with events ideas, introductions and referrals.
Happy networking and enjoy the holiday break when it comes.
Izzy, Malika, Charlie & Nigel
Canada-UK Chamber of Commerce
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