Legal and trade relations between Dubai and the UK will be strengthened through a Memorandum of Guidance (MoG) signed in London on 23 January.
This brings together the Dubai International Financial Centre (DIFC) Courts – the leading English-language commercial court in the Middle East – and the Commercial Court of England and Wales, the world’s leading Commercial Court.
Dubai in the United Arab Emirates (UAE) is now widely recognised as the investment and business hub of the Middle East.
The MoG is designed to assist investors, businessmen and lawyers in the UK who wish to develop closer trade and investment links with the Emirate – and vice versa.
The Memorandum clarifies existing arrangements between the two courts, defining such issues as the mutual enforcement of judgments, in accordance with principles and practices set out in detail in the document.
It accordingly reflects the historic trade and industry links between the UK and the UAE, while reinforcing a shared commitment to providing the highest standards of commercial justice.
Mr Justice Cooke, Judge In Charge of the Commercial Court, said: “A surprising number of people today are unaware of the reciprocity between courts. While reiterating the existing relationship between DIFC Courts and the Commercial Court in London, the MoG sets out the basis upon which judgments of one court can be enforced in the other and helps to engender an atmosphere in which business can flourish.”
Trade through the terminals and cargo handling facilities on the tidal Thames fell by 10% to 43.7 million tonnes during 2012, the Port of London Authority (PLA) has announced.
The principal reason for the reduction of 5.1 million tonnes year-on-year in port trade was the closure of the Coryton oil refinery at the end of May.
The volumes of unitised (container) cargoes, cereals and biomass all increased, while the volume of all other types of cargo reduced.
PLA Chief Executive Richard Everitt said: “2012 was a tough year for trade on the river. The closure of the Coryton terminal, one of the largest cargo handling facilities on the river, was compounded by limited growth or declines in other cargoes.”
The medium term prospects for trade on the river nevertheless look very strong, he continued, as the main benefit of having a terminal on the Thames – proximity to the UK’s biggest consumer market – continues to attract major investment.
During 2013, Coryton is expected to re-open under new owners as an oil products import facility, the London Gateway container port will open, work will be well underway at the Port of Tilbury’s London Distribution Centre, and Stolt Neilsen will be developing a facility at Dagenham.
Oil and gas developments in East Africa are creating new business development opportunities for SMEs. The Africa Business Centre, operated by Aberdeen & Grampian Chamber of Commerce, is organising a five-day trade mission for UK based SMEs.
It will provide a comprehensive introduction to oil and gas opportunities in Uganda and Tanzania via briefings and meetings with key government and commercial contacts. The aim is to equip delegates with all relevant information and contacts to support their future entry to the market.
For details of the schedule and costs, please click here.
Expanding on Qatar’s economic growth and continuing to build UK-Qatar trade links, the MEA is leading a Trade Mission to Qatar in the spring, 25th-28th March.
This multi-sector Trade Mission will focus on the opportunities arising from Qatar’s needs as it progresses towards hosting the 2022 FIFA World Cup and will cater to all needs as it will offer delegates, with the assistance of UKTI, the opportunity to gain direct access to ministries, decision makers and to commercial leaders as well as meetings with potential clients and business partners.
The Export Control Organisation (ECO) is the UK’s regulatory ‘strategic’ export licensing authority and forms part of the UK’s Department for Business.
Recent Notices that they have issued to all Exporters, can be found below:
Notice 2013/01 The ECO has amended the Open General Export Licence* (Military Goods). The licence has been revised to make the text easier to understand, while adhering to legal requirements in line with export control legislation.
Notice 2013/02 The ECO has amended the Open General Export Licence* (Military Goods: Government or NATO End-Use). The licence has been revised to make the text easier to understand, while adhering to legal requirements in line with export control legislation.
Notice 2013/03 Some businesses have been delivering military surplus vehicles through destinations not permitted by Open General Export Licence (Military Surplus Vehicles). This notice makes it clear that if goods are unloaded into a country, that country is considered to be the final destination. Any subsequent movement of the goods will be considered to be re-exporting.
Notice 2013/04 The new paid-for service will provide the documentation required by a number of Port States in the Indian Ocean regarding Maritime Anti-Piracy services provided by UK Private Security Companies.
Notice 2013/05 The ECO have discovered a mistake in Open General Export Licence (Military Goods, Software and Technology) – an incorrect email address. They have apologised for this error and the text has now been corrected.
Notice 2013/06 The ECO have discovered a further mistake in Open General Export Licence (Military Goods, Software and Technology: Government or NATO End Use) – an incorrect email address. They have apologised for this error and the text has now been corrected.
Notice 2013/07 As part of the Export Control Organisation’s ongoing Service Improvement Programme, a number of changes have been made to the SPIRE system that will enhance its effectiveness and streamline the process of making export licence applications for exporters.
The Brazilian economy has been predicted to become one of the five largest in the world in thedecades to come. In the last 15 years, the country has pursued a strategy of export-led growth and regional integration. The economy is relatively well diversified with a strong manufacturing and agricultural base. But economic activity is still concentrated in the southeast, particularly in the state of Sao Paulo.
ECONOMIC OUTLOOK Brazil’s economy slowed unexpectedly, growing by 0.6% in the three months to September versus the previous quarter. Growth for 2012 now looks set to be closer to 1%, compared with 2. 7% last year and 7.5% in 2010. President Dilma Rousseff launched the first in a series of measures aimed at injecting up to $50bn (£32bn) into the economy over the next five years, and increasing the private sector’s role in the economy. The plan included privatising about 14,000km of railways and roads, followed by selling ports and lowering energy costs.
TRADE OUTLOOK Latin America, China and Europe are expected to be Brazil’s top exporters over the medium term. Trade with Asia (excluding Japan) already accounts for more than a quarter of Brazil’s merchandise exports. The continued rapid industrialisation of these Asian economies is expected to drive further demand for raw materials from Brazil in coming years. China and Vietnam will be the fastest-growing export destinations over this period, ensuring that China retains its position as the most important destination for Brazilian export s. 40% of Brazil’s imports arrive from Europe, followed by 16% from the US and China. The UK falls behind Germany, India, Mexico, Nigeria and Chile, with only 1.7% of imports.
OPPORTUNITIES The fifth-largest country in the world, it has one of the world’s most rapidly developing economies and a GDP per head greater than either India or China. Certain sectors of the Brazilian market have experienced higher than average growth, such as air transportation, telecoms, oil and gas, and mining. Under the second phase of the Growth Acceleration Program the Government of Brazil will spend around US$470 billion in development of the country’s energy generation and infrastructure as well as stadiums as it prepares for the World Cup in 2014 and the Olympics in 2016. Other promising areas include construction, aerospace and aviation, electrical power, safety and security devices, environmental technologies, retail and transportation. SWOT ANALYSIS
STRENGTHS World’s sixth largest economy High population
WEAKNESSES Corruption Political risk
OPPORTUNITIES 2014 World Cup, 2016 Olympics Growing middle class Manufacturing
THREATS Export driven economy Real currency Very high interest rates
Abellio train operator Greater Anglia has launched ‘Job Track’ a free rail ticket scheme for job seekers in the region. The scheme will help the unemployed by offering free train tickets to travel to job interviews and when successful in gaining employment, further help is available with a free season ticket for their first two months in work.
The ‘Job Track’ scheme is a new initiative by Greater Anglia, aimed at helping the unemployed find work and to broaden the horizons of job seekers to consider employment opportunities outside of their immediate local area, within reasonable commuting distances.
Greater Anglia will offer those joining the scheme a maximum of six day return tickets to attend job interviews at locations within the train operator’s network, and on securing work eligible applicants can apply for an initial two-month season ticket free-of-charge. This will provide those successful in securing employment with a month to establish themselves in their new job, followed by a second month of free travel to assist them in putting their finances on a firm footing.
The scheme is being promoted and publicised at Job Centres and applicants meeting the required criteria to qualify for the scheme, will be able to apply for tickets through the Greater Anglia website at: www.greateranglia.co.uk/jobtrack
Ruud Haket, Managing Director, Greater Anglia said: “We’re very keen to play a positive role in the communities we serve across London and the East of England. This scheme will assist those looking for work and when finding employment, offers a great help to people at a time when money is tight. We hope it will prove attractive to job seekers across our region in their efforts to get back to work.”
Train operator, Greater Anglia is working with tourism organisation, Visit East Anglia, to boost visitor numbers to the region and attract couples looking for a romantic short break over Valentine’s weekend.
The partnership has created a package of special offers which create the perfect romantic escape to East Anglia’s vibrant cities, historic market towns, picturesque countryside and stunning coastal retreats and are exclusive to visitors arriving by train.
The production of two brochures – ‘Shop East Anglia’ and ‘Stay East Anglia’ – which are free and available from rail stations or www.greateranglia.co.uk offer a whole range of vouchers and special offers valid in shops, restaurants, hotels, accommodation and attractions across Norfolk, Suffolk, Cambridgeshire and Essex which can only be used in conjunction with a valid train ticket.
Couples looking for the perfect luxury escape can choose from 50 money saving offers such as a special rate of £99 per night at the luxurious De Vere Dunston Hall Hotel near Norwich, which includes a two course dinner, B&B for two guests and a bottle of wine, 10% off luxury self catering cottages in Cambridge plus two for one entry into Duxford Air Museum and two for one on College Backs tours with the Scudamores Punting Company, £45 per person per night B&B at the Stoke-By-Nayland Hotel, Golf & Spa, near Colchester (when spending £25pp on Dinner or a spa treatment for two), or three nights for the price of two at the Sandcastle Guest House, Lowestoft.
Further savings can be made with Greater Anglia’s range of Advance tickets available from as little as £6 one way or the GroupSave ticket which means that three or four people can travel off peak for the price of two (terms and conditions apply).
Lucy Downing of Visit East Anglia, said, “Our ‘Shop’ and ‘Stay’ brochures aim to promote the region as a fantastic place for a short break or holiday and boost visitor numbers in the early part of the year. With the fast, easy rail links and Advance fares from Greater Anglia, teamed with money saving offers on shopping and accommodation, we hope that couples looking for that luxury break for less will choose East Anglia this Valentine’s Day.”
The British Chambers of Commerce are pleased to announce that their Trade Mission to Moscow on 18th-19th March 2013 is now confirmed. The mission will participate in the inaugural flight by easyJet of their new Gatwick to Moscow route.
Participation is free of charge and open to Members of Norfolk Chamber.
The programme includes:
Return flights from Gatwick to Moscow for eligible applicants
Connecting flights from UK airports served by easyJet
Anyone interested in taking part should complete the application form and return it to tracey.howard@norfolkchamber.co.uk. We will then pass all the applications to the British Chambers of Commerce who will process them all together.
An East Anglia Rail Summit has been organized by Chloe Smith MP on 31 January in Westminster to be attended by MP, Local Enterprise Partnerships and business leaders from across Norfolk Suffolk, Essex and Cambridgeshire.
The session will be in a workshop style allowing two hours to discuss the latest updates to the key issues facing the rail network in East Anglia in particular the next steps on franchising, Network rail strategic business plan and the next steps on line speeds, rolling stock and other infrastructure possibilities.
Hear what Norfolk business leaders have to say in advance of the summit:
Caroline Williams CEO Norfolk Chamber of Commerce said: “Norfolk businesses needs improved rail infrastructure in order to create the economy and the resulting jobs which we are all striving for. An independent economic study showed that improvements called for would contribute £3.7bn to the region’s economy. We now have a window of opportunity and I, together with Norfolk Chamber members Aviva, Create Consulting, HJ Boswell and Blackwell Print, will be joining Greater Anglia, our MPs and LEPs across the region in Westminster at the East Anglian Rail Summit to ensure that the business voice is heard loud and clear”
Andrew Dernie, Head of Business Management Aviva said: “Aviva is a global business and an effective transport infrastructure is critical to our operations particularly in Norwich where we employ over 6,000 people. We are increasingly using technology to support collaboration across our businesses and reduce our need to travel but a degree of direct contact and team-work will always be vital. Efficient rail links between London, our international transport hub and Norwich is increasingly important for the Eastern region to remain competitive and be attractive to organisations serving a world-wide market.
We appreciate parliamentarians support in ensuring the region works together to improve the rail network. In 2012 Aviva spent over £1m with 20,000 staff rail journeys between Norwich and London. It is key for our staff who need to travel to have a fast and reliable journey. Equally important is using this travelling time to best effect so an improved Wi-Fi signal and electric sockets is imperative. We appreciate the provision of faster services at 7.40 and 17.00 but would welcome additional services with similar journey times.”
Davina Tanner President Norfolk Chamber of Commerce and General Manager Chapelfield Shopping Centre “In distance of miles we are close to the capital, we need high speed trains to maximise the opportunity of been so close to capital for continuing growth for Norfolk and Suffolk economy”
Paul Clarke Regional Office Partner Bidwells ” We need an improved rail link to London to attract investment into Norfolk. Far too many times private investors are put off the journey time to get here because of the poor service we have. It’s a perception of investors unfortunately but without a regular uprated service (even something akin to what we had a few years ago would help) my firm finds it very difficult to come north from Ipswich. I think even Government believes that we are out of the main stream in a cul-de-sac called Norfolk. We do have a lot to offer but unless we get better connected to our financial capital we will continue to be marginalised”.
Phil Harris,Managing DirectorNorcom Technology Limited Whilst it is important the main line to London is well maintained it is also very important to consider the rural lines (Cromer, Sheringham, North Walsham, Great Yarmouth, Lowestoft etc) as without this infastructure people will not be able to get to Norwich for the mainline trains and will make other arrangements instead.
Jeanette Wheeler, Partner, Birketts LLP “As a successful legal practice with 4 offices and more than 400 staff in the Eastern region, faster and better rail links to London and the rest of the country are vital to our future as a business and of the businesses we serve. We need rail improvements to improve the potential for us to access clients and customers outside of the region and compete more more effectively. We must not be viewed as an outpost any longer. We must be allowed to benefit fully from the energy sector, biosciences and other opportunities which this region has the potential to grow”
Richard Marks,MD John Lewis. Norwich ‘ Opening up communication links to the region is key to the success of business – we invested £ 7 million in John Lewis Norwich in 2011 and are supportive of initiatives to improve accessibility to the region and help the local enconomy to thrive ‘
Robert Todd Partner Feilden+Mawson Architects LLP “The East does not need High Speed rail at massive investment. A modest improvement in speed can be achieved at a modest investment, resulting in massive benefits to all businesses in the East.
Businesses will have the chance to engage with seven of Norfolk’s nine MPs on the key issue of young people, at Norfolk Chamber’s ‘MPs Event 2013’ on Friday 8 February.
Entitled ‘Unlocking the Potential of Norfolk’s Young People’, the high profile event will be held at Dunston Hall and is sponsored by Greater Anglia, Norse and Dunston Hall. The event will be split into three key discussion areas: ‘Bridging the gap between education and business’, ‘Opportunities for young people in the Norfolk supply chain’, and ‘What our young start-up businesses need’.
Each discussion area will feature an MP, who will provide their update on the Government’s role, followed by a local organization which will give an example of good practice that works well in Norfolk. These will include Michael Rose, Head of Wayland Academy; Norse, which will be bringing five apprentices to the event; and Jack Passant, Norfolk’s first recipient of the Government’s Start-up Loan Scheme.
A roundtable Q&A discussion will follow each of the presentations to enable delegates to give their thoughts and feedback directly to the MPs.
Caroline Williams, CEO of Norfolk Chamber, said:
“This event poses a unique opportunity for businesses to get their voice heard by the people who can make a real difference and influence policy. Bringing on our young people and preparing them for the challenging world of work is essential for a healthy future economy and this event is the place where businesses can have their say and get involved. We had 120 people at last year’s MP’s event and it was phenomenally successful in bringing together key decision makers and business leaders in the region.”
George Freeman, MP for Mid Norfolk stated:
“I’m delighted to be supporting this important conference because the debt crisis makes this a particularly challenging time school leavers and graduates to start their careers. The Government is creating a framework to support vocational training and apprenticeships around the country; now the challenge is for us in Norfolk to help our youngsters access the opportunities that are available”
Tom McGarry Communcations Manager covering the supply chain element said:
“Sizewell C could create thousands of jobs and opportunities for Suffolk and Norfolk businesses and young people We are delighted to support Norfolk Chamber’s event and speak to businesses and local representatives on the potential benefits and future opportunties open to young people “
John Wastage Policy Advisr British Chambers of Commerce said:
“Chambers of Commerce and their members work with schools and young people across the country to broaden career choices, promote enterprise and improve work-preparedness. Improving the skills of the UK workforce, and supporting young people to become work-ready are important priorities for the Chamber Network. Norfolk Chamber has created an excellent opportunity to inform the work of local MPs and draw attention to lessons from the good work already being done.
Michael Rose Head Wayland Academy highlighting education/business opportunities said:
“I am delighted to be able to contribute to the debate surrounding the importance of integrating business and education in such a way as to give our young people world class opportunities” . To book your place at the event go to the event booking site
Net lending to business contracted by £18.7bn for the year 2012
Commenting on the latest lending data published today by the Bank of England, Caroline Williams CEO Norfolk Chamber of Commerce said:
“These figures clearly demonstrate that the difficult credit environment remains a significant drag on economic growth in Norfolk. Some of our youngest and fastest growing firms who stand ready to pull the economy out of stagnation are being left out in the cold, because they can’t get access to the finance they need to expand.”
“There are funding pots becoming available to Norfolk businesses through Government initiatives but it is at present far from clear how businesses can access them. As a Chamber we will be working with partners to ensure that this information is made available in a clear and simple way”
“A fully functioning UK Business Bank is desperately needed to plug this gap and help viable SMEs drive the recovery. We hope that both ministers and the Business Bank’s new advisory panel take heed of the success stories seen in countries such as Canada and Brazil, so that the new institution is developed into a major source of capital for those firms that really need it.”