Chamber News

Two meetings to be held in London in May will focus on the trade opportunities offered by countries in Africa.

Organised by the Business Council for Africa and British Expertise International, the meetings will bring together British diplomats stationed in both East and West Africa.

Both meetings will take place on 10 May. In the morning, a panel discussion at the Business Council for Africa (Lavington Street, London) will feature three Heads of Mission from East Africa: Susanna Moorehead, Nic Hailey and Sarah Cooke.

Susanna Moorehead, British Ambassador to Ethiopia and Djibouti, is the Permanent Representative to the African Union and UN Economic Commission for Africa. She has also served as the Director for Southern and West Africa at the Department for International Development (DFID).

Nic Hailey has been British High Commissioner to Kenya since December 2015. Prior to taking up his current position, he was Director for Africa at the Foreign & Commonwealth Office (FCO), where he had responsibility for all UK policy towards, and operations in, 48 countries across Africa.

The High Commissioner to Tanzania, Sarah Cooke, was previously representative for DFID in Bangladesh.

Starting at 17.00 on 10 May, the second meeting will be held at the premises of Addleshaw Goddard (Chiswell Street, London) and will include five Heads of Mission from West Africa.

Among them will be the UK’s current High Commissioner to Cameroon, Brian Olley, who has previously served in Cyprus, Afghanistan and Finland.

George Hodgson, Ambassador to Senegal and non-resident Ambassador to Cabo Verde and Guinea-Bissau, will also participate in the panel discussion, as will the High Commissioner to Ghana, Jon Benjamin.

In addition to the panel discussions, both events will also provide opportunities for networking. Further information can be found at www.britishexpertise.org.

Heathrow Airport has confirmed that China Southern Airlines will be operating a second daily departure between the UK hub and the Chinese port of Guangzhou with effect from 1 June this year.

It said that the airline’s twice-daily service, the only direct connection between the UK and the southern Chinese city, is strategically important for “a global, outward-looking Britain”.

Using a Boeing 787 Dreamliner, the new service will lower transfer times to China Southern Airlines’ network of over 120 destinations in China, Japan and Korea, southeast Asia, Australia and New Zealand.

Located just 75 miles up the Pearl River bay from Hong Kong, Guangzhou is described as one of China’s most vibrant business markets as well as being its biggest port.

The addition of the new daily service will boost trade capacity to this booming city, by doubling the space for British exports to up to 8760 metric tonnes a year, Heathrow Chief Executive John Holland-Kaye said.

Welcoming the addition of the second service, he highlighted the benefits of increased connectivity to Guangzhou for Heathrow passengers and for British business generally.

“Direct connections to thriving markets like these are essential to keeping our country a global, outward looking, trading nation,” Mr Holland-Kaye concluded.

In 2016, more than 1.1 million passengers used Heathrow to fly to and from Chinese destinations, an increase of 7.3% over the previous year.

Global Village is a one-of-a-kind, multi-cultural festival park that operates seasonally, showcasing different cultures from around the world, in a lively, outdoor atmosphere. Global Village is renowned for it’s shopping experience showcasing authentic products from around the world. Total transactions at Global Village exceeded € 590 million (AED 2.3 billion) last season. This will be Global Villages 22nd Season and is proud to have attracted 5.6 million visitors last season and been voted the No 1 Leisure attraction in the Middle East (You Gov). Our Vision is to be one of the top ten international brands for family entertainment and cultural experiences by 2020.

We are looking for new and exciting product s and retailers to fill our European Pavilion

We believe the following products sell extremely well:

• HANDICRAFTS
• WELLNESS PRODUCTS
• FOOD & BEVERAGE
• FASHION
• GIFTS
• ACCESSORIES

But open to all products especially in new in the market. Global Village is excited about working with European Exhibitors and looks forward to them showcasing and retailing unique and authentic products during the next season. Global Village will work closely with exhibitors on all logistic elements from shipping, storage, to accommodation and visa’s to ensure an easy process for our exhibitors.

To express you interest please email [email protected] and we will pass your details on. 

Pre April position

The Flat Rate VAT Scheme (FRS) was set up by HMRC as a means to simplify and reduce the costs of compliance for small businesses. This meant that such businesses could apply a fixed percentage dependent upon the specific trade or profession they were involved in.

Under the FRS the business would charge full VAT rates to their clients when invoicing and therefore receive VAT at 20%. The business would then only pay the fixed percentage to HMRC i.e. if they fell within management consultancy they would pay only 14% of their invoiced value to HMRC.

The scheme does not permit recovery of input VAT other than in specific circumstances normally in relation to purchases of capital equipment with a value of more than £2,000.

Legislation

HMRC issued draft legislation in early December 2016 which introduced a new rate of 16.5% for ‘Limited Cost Traders’ (LCT) to take affect from 1st April 2017.  A LCT is one whose VAT inclusive expenditure on goods is either:-

• less than 2% of their VAT inclusive turnover in a prescribed accounting period
• greater than 2% of their VAT inclusive turnover but less than £1,000 per annum if the prescribed accounting period is one year (if it is not one year, the figure is the relevant proportion of £1,000

Goods, for the purpose of LCT, must be used exclusively for the purposes of the business but exclude the following items:-

• capital expenditure
• food or drink for consumption by the FRS business or its employees
• vehicles, vehicle parts and fuel (except where the business is one that carries out transport services -eg. a taxi business, and uses its own or a leased vehicle to carry out these services).

An additional downside to this test is that if you have goods that are used part for business and part private use should be totally excluded and not apportioned between business and private.

April onwards

From 1st April 2017 a LCT will have a choice to either remain as part of FRS and pay VAT to HMRC based on 16.5% or to be part of standard treatment VAT i.e. pay net VAT to HMRC having taken into account  VAT on outputs at 20% and recover VAT on inputs where charged.

Under the anti-forestalling provisions HMRC have restricted any possibility of a LCT continuing to use any lower FRS rates from 1st April 2017 therefore action if not already taken should be taken now to avoid potential penalties.

If you are still within the first 12 months of VAT registration you will be able to continue with the 1% first year discount so would pay only 15.5% for the remainder of the 12 month period.

If under the legislation you are a LCT then you need to go through the numbers and consider which is the best direction for you. The potential impact on a small business may not be significant and the additional costs involved in fully accounting for VAT under the standard rate may well be more than the VAT involved especially as you will need to provide evidence of any expenditure on which you make a reclaim.

All such businesses will have their own unique situation and we would recommend you speak with your accountant or call the VAT advice line should you need help making a decision.

On Thursday 20th April, over 65 members joined us for a Business Breakfast at the Great Yarmouth racecourse. The Victory and Trafalgar suites provided a spacious setting where delegates could network over coffee upon arrival and speak to Great Yarmouth Borough Council who had a stand promoting Beacon Park.

Philippa Bindley events manager at Norfolk Chamber kicked off proceedings by welcoming guests. Guests then went straight into some Speed Networking which is designed to get guests talking to as many other people as possible.

When guests had finished their networking they tucked into a delicious breakfast served by the racecourse. Members then heard from John Vingoe operations manager for Seajacks spoke about the plans for East Anglia One the new wind farm in the East.

After John’s presentation about their vessels and how they are used members had the chance to ask some questions back such as do they work with oil and gas companies. Members found it interesting to know that they will be placing foundations for 66 new wind turbines in the local area.

Caroline Williams MBE finished off the morning by saying a thank you and farewell for her 17 years working for the chamber.

To learn about any upcoming events, please visit: norfolkchamber.co.uk/events

Gnaw Chocolate are offering all fellow Norfolk Chamber members a Gnawfully good deal on your first corporate order!

Spend £500 and above on their delicious chocolate treats for your loyal clients and lovely staff and receive a FREE Gnawish Hamper! Quote CORPORATEGNAW when placing your first order!

Head to www.gnawchocolate.co.uk/collections/corporate-gifts for further info.

They are also offering you and your staff a 15% discount on your first online order, spread the news around the office and let everyone know to quote STAFFGNAW .

Both promotions will be running until 1st July, 2017!

For more info contact Gnaw on 01603 501546 or email [email protected]

The International Air Transport Association (IATA) has launched the IATA Cargo Handling Manual (ICHM) to help airlines and cargo handlers work together more effectively while improving safety and efficiency in air cargo operations across the world.

The Manual’s table of contents, and details of how it can be purchased, can be found at www.iata.org.

Developed in consultation with air carriers and cargo handlers, and based on industry best practices, the Cargo-iQ Master Operating Plan (MOP) and international regulations and standards, the ICHM is the first complete set of standards covering the operational activities of all stakeholders in the cargo handling supply chain.

Glyn Hughes, Global Head of Cargo at IATA, said: “Cargo operations are performed at thousands of airports, by hundreds of handlers. With that number of parties involved, ensuring that global standards and best practices are being observed at all times is a constant challenge.”

The ICHM is a single reference source that will help promote global consistency and harmonisation of cargo handling procedures, he went on, thereby facilitating the movement of goods safely, securely and efficiently while contributing to a reduction in air freight logistic costs.

IATA has calculated that the ICHM brings together 90% of the information that is common to individual carrier cargo handling manuals. The manual develops and completes this information, Mr Hughes explained, bringing it up to current IATA standards.

A new UK-Israel Trade Working Group aims to strengthen trade and investment between the two countries.

Announced in February following a meeting between Prime Ministers Theresa May and Benjamin Netanyahu, the forum has been established not only to promote greater trade and investment, but also to prepare the ground for a post-Brexit trade agreement.

The UK is Israel’s second largest trading partner and its top destination for investment in Europe. More than 300 Israeli companies currently operate in the UK, with 28 having either set up or expanded their businesses since April 2016.

Meanwhile, over 30 British companies operate in Israel, with hundreds more represented there. Overall, bilateral trade between the UK and Israel was worth US$7.5 billion in 2015.

The Working Group’s inaugural meeting in late March 2017 saw officials start work on what the Government described as a smooth transition to the trading relationship as the UK leaves the EU.

Ahead of the meeting, Israel’s Minister of Economy and Industry, Eli Cohen, said: “As the UK is Israel’s first export destination in Europe, we see high importance in keeping and enhancing our trade relations when the UK ceases to be a member of the European Union.”

The two sides should, he added, make sure that the business communities in both countries will be able to continue trading with each other by providing them with the necessary trade platforms.

Changes to rules on food imports from non-EU countries could see Israeli farmers able to sell more fresh produce in the UK, while easing restrictions on travel and work permits could make it easier for Israelis to come to the UK.

Containers full of British goods are on their way to China after the departure of the first UK to China export train from DP World London Gateway.

The train will make the 7500 mile, three-week-long journey, from South Essex to Yiwu in the Zhejiang province in eastern China. Products on board include soft drinks, vitamins, pharmaceuticals and baby products.

Container operator OneTwoThree Logistics is overseeing the transportation and booking of cargo for the UK/China rail freight trains, in conjunction with Yiwu Timex Industrial Investment Co, which is running the service with China Railway Container.

The inaugural export train departed for Asia just under three months after the first ever import train from China arrived in the UK. The service is part of China’s One Belt, One Road programme – reviving the ancient Silk Road trading routes to the west.

The train service is cheaper and less restrictive than air freight and faster than going by sea.

Greg Hands, Minister of State in the Department for International Trade (DIT), said: “This shows the huge global demand for quality UK goods and is a great step for DP World’s £1.5 billion London Gateway Port as it also welcomes its first regular container ships from Asia.”

Xubin Feng, Chairman of Yiwu Timex Industrial Investment Co, said that this was just the start of a regular direct service between the UK and China. Expressing his faith in the UK as an export nation, he said that rail provides an excellent alternative for moving large volumes of goods over long distances faster.

It is possible that the European Commission is hoping that UK politicians take particular notice of its latest statement about trying to get trade negotiations underway with Australia.

As if offering a lesson to those who believe, such deals can be put together in a few weeks it has announced that, after nearly a year spent in preliminary discussions, the two sides are “one step closer to launching trade negotiations”.

So far, the officials concerned have been working to define areas to be covered by the substantive negotiations as well as the level of ambition for a future agreement. As a next step, the Commission will ask Member States for the authorisation to launch formal negotiations and for the specific negotiating directives.

Commission President Juncker, EU Council President Donald Tusk and the Prime Minister of Australia, Malcolm Turnbull, first expressed their shared commitment to advance towards a trade agreement in November 2015.

The EU is Australia’s third largest trading partner with annual bilateral trade amounting to more than €45.5 billion. An agreement on mutual recognition is already in force between the two sides to facilitate trade in industrial products by reducing technical barriers, including assessment procedures.

“The EU and Australia are like-minded partners who share many common concerns in today’s international trade environment,” the Commission said, which again underlines that such deals take time, even with goodwill on both side.

All routes crossed by the Northern Distributor Road will be kept clear of closures and temporary traffic lights over the four-day Easter holiday, but traffic management will be in use again when work resumes on Tuesday (18th). This includes the closure of Reepham Road.

B1149 Holt Road – signals after closure

The B1149 Holt Road, which has been closed since Monday, is scheduled to reopen later today (Thurs 13 April) after the surfacing and tie-in of the New Drayton Lane roundabout. The road will be kept clear over the Easter holiday, but traffic lights will be used off-peak next week (18th-21st) for finishing-off work.

Reepham Road – closure

Reepham Road will close for up to three weeks from Tuesday 18 April to complete the construction and tie-in of the Drayton Lane roundabout. For traffic from the Reepham direction, the diversion will be via Fir Covert Road and the A1067. From Norwich, the diversion will be along Boundary Road (Ring Road), the A1067 Drayton High Road/Fakenham Road and Fir Covert Road.

Drayton Hall Lane and School Road, Drayton, are not suitable diversion routes. Both are traffic calmed, and School Road passes two schools and has a 7.5 tonne weight limit so cannot legally be used as a through-route by HGVs.

Salhouse Road – signals followed by closure

Two-way traffic lights will be in use from Tuesday 18 April as construction of the NDR roundabout continues. These will stay in place until the road closes on 8 May for two weeks to complete the roundabout and tie-in to the existing road.

Green Lane West (at North Walsham Road) – signals

From Wednesday (19th) to Friday (21st) next week two-way traffic lights will be in use on Green Lane West near the junction with the B1150 North Walsham Road. The lights will be manually controlled at peak hours.

Wroxham Road – signals

From Tuesday 2 May traffic lights will be in use on Wroxham Road for up to two weeks to allow Anglian Water to carry out service diversions. The lights will be manually controlled to minimise delays.

Norfolk County Council and Balfour Beatty apologise for any inconvenience caused.

Commenting on the PM’s decision to seek a General Election on June 8th, Caroline Williams, CEO of the Norfolk Chambers of Commerce said:

“The Norfolk business community will understandably be concerned that attention will inevitably shift from the economy and the intricacies of leaving the EU to a potential election campaign. Firms want to see our local MPs give reassurance that the key challenges facing the economy will be front and centre throughout any election period.”