Chamber Foreign Exchange monthly update
This week we provide an update from Moneycorp who offer the Chamber Foreign Exchange service. They advise of the key risks for the month ahead.

We have two training courses taking place this week on understanding Importing and Exporting. Links can be found below to explain the content of each course and how to register.

If you have any international trade queries please email or telephone the team on 01223 237414. 

Karen Cash
International Trade Team Leader
01223 237414
Chamber Foreign Exchange monthly update

Key risks for the month ahead from Sophia Awan, Moneycorp Relationship Manager for Chamber members:

  1. UK recession in Q1, swiftly followed by a European & US recession. I feel the US is best-placed, with an extremely strong labour market and are somewhat insulated from the global energy and supply-chain crisis we are feeling. The UK is currently looking the worst-placed, with The Economist reporting that “not only will Britain have the worst recession, they will also take the longest to recover”.

  2. Interest rate increases will stop after Q1 2023 - at least from the UK, EU, US, Canada, Australia & NZ.

  3. UK General Election in 2023. This is a bold prediction for 2023, but I don’t see how the Prime Minister can withstand the pressure from both the internal Conservative Party politics and the current economic predicament. It has also been widely reported that many leading Conservative MPs want some time on the opposition benches after 12 years in power. I think it’s fairly obvious who would win that election at this stage.
For more information on Chamber Foreign Exchange, please click here.
Wednesday 11 January, 9.30am-1.00pm

Details here.
Thursday 12 January, 9.30am-1.00pm

Details here.
Wednesday 26 January, 9.30am-1.00pm

Details here.
You can view the full list of all our courses on the Chamber website.

Courses can also be tailored to meet your company’s specific requirements. For more information about a bespoke course for your company, which can be delivered remotely or in person, please contact the Chamber on 01223 237414.
New Year Market Update Webinar
Thursday 12 January, 9.30-10.30am

With 2023 set to bring more economic turbulence, join this webinar where a panel will share their insights into the FX market and how to manage risk for you and your business. They’ll take a look back at Q4’s market activity and identify the key events in 2023 worth keeping an eye on.

To register, click here.

In the Moneycorp Relationship Manager field please enter SOPHIA AWAN

Rules of Origin - Trade Preferences Explained

Trade statistics show that UK businesses are missing out on duty waivers for their customers, negotiated by the UK Government in over 70 trade deals. Rules of Origin (RoO) can be complex, so join us to understand how to benefit from trade deal preferences, how to be more profitable and how to make your exports even more competitive.

These webinars are co-hosted with the DIT Export Support Service (ESS) who have been working across government departments to make RoO as easy to navigate as possible, despite their inherent complexities.

  • HMRC RoO experts will offer their expertise in a Q&A session and attendees will have a chance to seek clarity on any pain points they might be encountering.

  • DIT Export Champions will share their personal experience with RoO during their export journeys. This is an opportunity for you to hear from other businesses on the tangible benefits that come from taking advantage of RoO preferences.

  • ESS will be there to signpost attendees to new business resources and explain how they can be fully utilised.
Click your chosen date below to register:

Friday 20 January, 10.00am

The Chamber offer an Understanding Rules of Origin course that explains all aspects of the Rules of Origin and Trade Agreements and how to understand and comply with them to help companies be more competitive in export markets. 

This training takes place on Wednesday 8 March from 9.30am-1.00pm. Full details can be found here.

2023 Smart City Summit and Expo
28-31 March in Taipei
30 March - 1 April in Kaohsiung

The 2023 Smart City Summit and Expo (SCSE) will take place both in Taipei & Kaohsiung. The event is expected to bring together 150,000+ visitors and 600+ exhibitors, with 1000+ matchmaking sessions and 60+ forums.

In addition, the debut of the 2050 Net Zero City Expo will promote economic growth, drive private investment, generate green employment, achieve energy autonomy and enhance social well-being, with a foundation for long-term growth to create a better place for future generations.

Click here to download the package for business delegations including information on exhibiting at the event. Click here to find out more about the Summit and Expo.
This is a big year for the Chamber Network and trade, with the Australia and New Zealand trade agreements due to come into force in the spring. Also, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) accession is nearing completion, and legislation on electronic trade documentation is due to pass at Westminster.

In addition, we are also hopeful of progress being made in UK-EU negotiations on the implementation of the Protocol in Northern Ireland.

Final decisions from Ministers are due shortly on arrangements and timings of new Border Processes for goods passing from EU into GB around the end of 2023. A further consultation is likely in the first half of this year.
Contact the Chamber

01223 237414 •
Cambridgeshire Chamber of Commerce
Clifford House, 2 Station Yard, Oakington, Cambridge, CB24 3AH