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Transatlantic ties continue to create jobs and boost investment

Transatlantic ties continue to create jobs and boost investment

The CBI has published the fifth annual edition of its Sterling Assets report - showcasing the high levels of investment from British firms in the US.

The UK invested $442billion in the US in 2011 – nearly twice as much as the second largest commercial partner and substantially more than the next foreign investors, including Japan, Holland and Germany. The UK is also the fifth largest destination for US goods and services.

British business has invested across many sectors in the US, supporting nearly one million jobs, and with manufacturing accounting for more than a quarter of those jobs.

Simon Moore, the CBI International Director, said: “We cannot underestimate the value in jobs and investment brought about by the close ties between our two countries.

"The UK and US enjoy an exceptional trade relationship with the potential for so much more if agreement can be reached on a comprehensive EU-US trade and investment partnership. Businesses on both sides of the Atlantic will benefit from lower costs, a reduced burden of regulation and public procurement opportunities.”

The report examines the commercial impact of UK business on the American economy and gives an overview of the individual importance of British investment in all 50 states and the District of Columbia.

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George Bailey