Women in Business - Essex Chambers of Commerce and ... Links.pdf · Women in Business 19 Breaking the glass ceiling for women on company boards Vivien Reding 20 The time is upon us

Women in Business

LinksThe magazine of COBCOE – Representing British business in Europe AuTumn 2012

EU Commissioner Vivien Reding, and business leaders Jean Stephens and Lady Barbara Judge discuss “Women in the boardroom”

Irish Prime Minister Enda Kenny, British Minister for Europe, David Lidington and former UK Foreign Secretary Malcolm Rifkind on the next steps in Europe

BBC Trust Chairman Lord Patten takes stock at the BBC

HSBC Europe CEO Peter Boyles looks at Emerging Markets

Links is the official publication of the Council of British Chambers of Commerce in Europe . It is distributed to all member chambers and their members, British embassies and consulates across Europe, other chambers of commerce, Government departments, trade and professional associations, British members of parliament and members of the European Parliament. Circulation form or electronically is approximately 15,000 and to over 10,000 companies across the world.

Editor in Chief: Howard Rosen, CBE

Editorial support: Anne-Marie Martin / Deborah Lamb / Michelle Oberman

Designed and printed: Pilot Creative Marketing Ltd, Waterside House, Nene Park, Irthlingborough, Northants, NN9 5QF Tel: 01933 654 821 www.pilotcreativemarketing.co.uk

The opinions expressed in articles or reports in this publication do not necessarily reflect the opinions or policy of COBCOE. © Council of British Chambers of Commerce in Europe 2012

The Council of British Chambers of Commerce in Europe 12 York Gate, London, NW14QS United Kingdom Tel: +44 208 316 5951 Fax: +44 208 316 5951

www.cobcoe.eu

The Council of British Chambers of Commerce in Europe (COBCOE) is an independent, not-for-profit organisation representing British bilateral chambers of commerce throughout Europe.

Acting as an umbrella organisation, we work with our member chambers to advance international trade and business with the United Kingdom. We represent 40 British chambers of commerce in 37 countries across Europe and give a voice to over 10,000 businesses from all sectors of trade and industry involved in business with the UK. Our aim is to protect and promote the interests of our constituent chambers, and their business members, through representation, cooperation and trade stimulation. To do this, we liaise closely with governments and other like-minded organisations to ensure that our members’ needs and concerns are addressed.

Inside this issue3 Events6 Editorial7 David Thomas Interview

9 Features Political9 Going for growth David Lidington mP

10 The Future of Europe Sir malcolm Rifkind

Business11 Trust the BBC Lord Patten of Barnes

12 International Optimism Peter Boyles

14 Opportunities and Challenges Austin Lafferty

15 Europe’s bonds James Elwes

Responsible Business16 Young Entrepreneurs Sir malcolm Williamson

18 Human trafficking, the slavery of our times myria Vassiliadou

Special Section - Women in Business19 Breaking the glass ceiling for women on company boards Vivien Reding

20 The time is upon us to address gender inequality on boards Jean m. Stephens

21 Women in the boardroom Lady Barbara Thomas Judge

Country Focus - Ireland24 Unlocking the potential of the single market An Taoiseach Enda Kenny TD

25 Enterprising Ireland Frank Ryan

26 Ireland in the European Union Fergal naughton

27 The British Irish Chamber of Commerce - 1 Year On Steve Aiken

British Business Worldwide28 Australian partnership

29 Window into Europe29 New business award promotes exports to Belgium29 Raising the visibility of British-Bulgarian trade and investment30 The British chamber in Prague realigns services as investment flows change30 Estonian technology sector promotes e-business in London30 Sir Martin Sorrell meets select group at Consulate-General in Milan31 Seminar finds compliance can give competitive advantages in Germany31 The British chamber in Paris develops and rewards success in cross- border trade and investment32 Celebrating a great year for Britain in Hungary32 Today’s leaders imagine tomorrow in Jerusalem33 The British chamber in Luxembourg looks at topical issues and member engagement in anniversary year33 Investment, food and cars feature in Poland’s British Week34 Building relationships in the Slovak Republic34 British Romanian chamber is first point of contact in land of opportunity35 New strategy to help members in Slovenia35 Swiss seminar finds art and business need each other36 Turkey’s 125 year-old chamber embarks on new ventures 36 Olympics business embassy launched in Dorset37 Directory of COBCOE Members

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3COBCOE AuTumn 2012

Events

COBCOE Chamber of the Year Awards 2012

The new Howard Rosen Award for Excellence introduced at the 2012 Chamber of the Year awards ceremony in recognition of Howard’s presidency of COBCOE (2005-2012), sponsored by Jeeves Group, was awarded to Peter Byrne, CEO of the South Dublin Chamber of Commerce. Peter was not only instrumental, through his leadership, innovation and mentoring in helping to set up newly established British Irish Chamber of Commerce but he has also trained and mentored many chamber leaders over several years and continues to provide invaluable training and consultancy support to business associations across the world.

The new award will be presented each year to a special personality from amongst the chamber networks in recognition for special and outstanding contribution to the development of the chambers’ movement.

At its Annual General meeting on 24th April 2012, COBCOE elected David Thomas as its new president. David took over formally from Howard on 1st August 2012.

David is based in Warsaw, had been, until recently, Chairman of the British-Polish Chamber for many years, has been a member of the COBCOE Executive for over a decade and a COBCOE Vice-President over the past six years. David will lead a new management team. Anne-marie martin has stepped into the new role of Executive Director of COBCOE and Jelena Krzanicki has been appointed COBCOE PR & marketing manager, joining Gitta Altmann, a partner with solicitors Pritchard Englefield, who was appointed COBCOE Honorary Counsel earlier this year.

The Executive Committee, staff, partners and

members of COBCOE thank Howard Rosen for all his hard work and devotion as President for the last almost seven years at the head of COBCOE. Howard has been an inspiring and dedicated leader and has steered COBCOE to the next phase of its life. COBCOE is now a viable and vibrant organisation with a real and effective profile and a much deserved place as partner at the table of both uK and Eu governments.

Howard will now become Immediate Past President and continues to serve on the COBCOE Executive Committee with special responsibility for developing the British Business Worldwide alliance of British chambers and in the role of Chairman of the Public Affairs Commission and Editor in Chief of Links.

David Thomas takes over from Howard Rosen as President of COBCOE

The Chamber of the Year Awards Ceremony took place at the 2012 Gala Dinner of the Council of British Chambers of Commerce in London at the Royal Automobile Club on 24th April 2012

The Corporate Social Responsibility Award 2012 Winner – British Chamber of Commerce in Belgium

Best Small Chamber Award 2012 Winner – British Chamber of Commerce in Czech Republic

Chamber of the Year Award 2012 Winner – British Swiss Chamber of CommerceRunner-up – British Chamber of Commerce in Belgium

Above: All awards winners with Howard Rosen and David Crackett.

Above: Peter Byrne presented with the new award by Bryan Jeeves with David Crackett, David Thomas and Howard Rosen

Events Events

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COBCOE Gala Dinner 2012 At the Royal Automobile Club in the heart of London

COBCOE’s 2012 annual conference generously hosted by ICAEW at Chartered Accountants’ Hall in moorgate

And thanks to Dame Julia Cleverdon for her terrific speech

Right: Attendees at the annual

conference

Events Events


COBCOE’s Training Academy dinner 2012

from Prospect magazine 2012

COBCOE’s autumn events programme

“Unlocking Britain’s export potential” – COBCOE’s first business networking event of the autumn will take place at British Expertise on 11th October 2012 from 6.30 pm. COBCOE’s regular early evening business event has become the new business focussed, working and networking panel discussion event in the annual calendar of events. Our panel of experts: Clive Lewis, Head of Enterprise, ICAEW; John Saville, Director for Global High Growth markets, uKTI; martyn Pellew, President, BCC; Dr Warwick Knowles, CRS Chief Economist, Dun & Bradstreet and our moderator, COBCOE President David Thomas. We are pleased to welcome a trade delegation from Kosovo with special guest speech from the minister of Trade of Kosovo.

BCC Trade Conference organised with support of COBCOE – 24th October 2012, London – The British Chambers of Commerce International Trade Conference “Exporting is good for Britain” is an exclusive event that will bring together high growth exporters from within the uK and companies from Europe, organised with the support of COBCOE

Emerging Europe Conference 2012– COBCOE and uKTI invite you to an “Emerging Europe: Emerging market Opportunities Close to Home” conference on 8th november 2012 at the CBI Conference Centre in the heart of London.The event will comprise a mix of presentations by experts on C & E Europe, SE Europe and W Balkans, panel discussions on individual markets and informal networking with trade & investment representatives from the region and will be preceded by a pre-conference reception on the evening of 7th november 2012 from 6.30pm

Brussels Briefing Live – 29th november 2012 – A full day conference on Europe with a British flavour organised by Dods and the Parliament magazine with support from COBCOE.The conference will be a unique opportunity for participants to gain detailed insight from Eu and uK policymakers on the big issues in Brussels.

COBCOE Trade Mission to Istanbul – February 2013 A COBCOE trade mission organised in association with the British Chamber of Commerce in Turkey and supported by exclusive platinum sponsor, HSBC Commercial Banking

The mission will take place over 2 full days with focus in Istanbul and a programme that will include key formal general business presentations; regional workshops; British business focussed workshops; meet the partner workshops; meet the advisor workshops; export to and from workshop; one to one and group discussion opportunities; networking on a wider business and social scale

For full details of all these events, please contact COBCOE’s PR & Marketing Manager at [email protected]

http://www.prospectmagazine.co.uk/cobcoe/

Editorial Interview


Low tide By Howard Rosen CBE, Immediate Past President & Chairman COBCOE Public Affairs Commission

It’s only when the tide goes out,” said Warren Buffet in one of his classic aphorisms, “that you learn who’s been swimming naked.” In many respects, we are at low tide in the business community in Europe, and it

turns out that there are quite a few business executives who have forgotten their swimming costumes.

There has been much reflection on the lack of leadership in the political community, and some of this criticism is justified. But many of the problems have been caused by the business community itself. We may have our doubts about whether tougher regulatory regimes and more government intervention will solve the problems. But the business world has to understand that this is often a reaction to legitimate public distress that “the market” got things so badly wrong.

The core of the problem is that genuine corporate governance and accountability has broken down in parts of the business community. We need to identify where things have gone awry, and come up with practical and workable ways to fix them. “Those who cannot learn from history are doomed to repeat it.”

Two issues clearly stand out. The limited power of non-executive directors in major companies and the under representation of women at board level. The role of women in business is discussed in some depth in this issue of Links. Our distinguished contributors make strong and persuasive arguments for increasing the level of female participation at the top of companies, but this in itself will not be sufficient if three basic points are not dealt with: How should boards properly operate in future to ensure that companies take a more balanced approach, with an understanding of their responsibilities within the community? How can we build the intellectual infrastructure for this? And how do we ensure it takes place?

Whether they are non-executive, or women directors, or both, what has to be clear is that board members cannot be there simply as tokens. They must have the power to influence the way the business works. This is because the classic concept of accountability of the board to shareholders seems to have effectively stopped working in the case of large companies

with blocks of shares held by sovereign wealth funds, other institutions, or investment funds, and where votes are locked-up by management before the AGm begins.

One easy reform would be to empower non-executive directors by giving them the final say on remuneration for board and other senior executives. They would need to be qualified to do this job, have term limits, and be autonomous. We also need to look for other areas where they can be given specific legal powers and support structures, independent of the executive directors and senior management, including direct access to auditors, so that they have the ability to oversee and control how the executives in the company are working. Board members need legally enforceable duties and sanctions beyond that of walking away.

But these capabilities will not emerge overnight. Even creating the legal structures will not be enough if the people involved are insufficiently trained or not motivated enough to exercise the proper control. We need to be nurturing people in industry who can play this role conscientiously and fearlessly.

The biggest issue is culture. What we have discovered over the past few years is that the culture in some large companies has been so driven by short-term profit, in turn influenced by the individual interests of management, that the long-term interests of the company are ignored. more regulation will not help if the culture is wrong. Analysts encourage the short-term approach, but we and they need to look more at the medium- and long-term prospects of individual companies, and of the business community as a whole, if we are to avoid the pitfalls next time.

And surely there will be a next time. “There is a tide in the affairs of men, which taken at the flood, leads on to fortune.” The risk is that the tide will come in again, the business environment will improve, and people will forget the obvious reforms that must be made. If we want to ensure that business in future is responsible and sustainable in the medium- to long term, playing its proper role in society, we need to invest in the swimwear now.

COBCOE BUSINESS SOLUTIONSCOBCOE and its partners offer member chambers and their members a range of business services

Event Management One of our greatest strengths is the ability to help you plan and implement well organised, relevant, intelligent and efficiently managed business events. Our comprehensive service will help you to identify the message(s) and concepts you want to communicate and help you to implement your events programme in the UK

Human ResourcesConsultancy and management for the recruitment of key chamber staff. With our wealth of experience in managing British bilateral chambers of commerce, COBCOE is able to assist you to recruit your key chamber senior management and staff wteam members

COBCOE In-house business solutions Cvent Online Event Support

Cvent offers comprehensive online proccess support such as registrations for events, marketing options and other relevant solutions for event managers

Health & SafetyIn association with the Essex Chambers of Commerce,

COBCOE are delighted to provide a broad range of easily accessible online health and safety training courses, for the benefit of employees or the management team. This simple yet effective learning system also allows employers to track training progress, and retain certificates of completion should they be required

Eukleia Training Eukleia Training is proud to be

a new COBCOE partner and will be working with COBCOE to deliver and develop training offerings for COBCOE chambers and their members

Connections @ Trafalgar Square Business Club and meeting spaceMembers stay at preferential room rates

at Club Quarters, Trafalgar Square the charming boutique hotel located on site and are able to book stunning event facilities in the heart of London at preferential rates

For more details or to see how we can help you, please visit us at www.cobcoe.eu or contact [email protected]

Editorial Interview


David Thomas became President of COBCOE on August 1st, 2012. His distinguished career in financial services spans many roles, including Managing Director of HSBC and Head of Corporate and Investment Banking in Poland, before becoming senior partner of his own corporate finance boutique firm. Here he gives his views on European financial markets, bilateral chambers and how COBCOE members can contribute to an economic recovery.

How has the financial services sector developed in Europe, particularly in the emerging economies where you are based?

The ‘big bang’ or deregulation of the uK financial markets under margaret Thatcher’s government continues to be the key driver of the European markets. The City of London dominates European financial markets, and world markets in many areas, as their depth and sophistication and those of the institutions operating there make it the natural place to seek significant capital.

Apart from Germany, France and Italy in the eurozone, other European national markets serve smaller, more ‘plain vanilla’ deals. In Central and Eastern Europe the markets are even shallower. Poland has tried to develop as a regional hub, but the size of the capital base of the banking sector is still too low even for its own economy and there are significant constraints on its deal capacity.

With the flow of privatisation deals reducing, international banks have retreated from European emerging markets back to London leaving the market open for the big four audit companies, local banks and boutiques. However, when large m&A transactions or financings (including sovereign issuance) are required, the London based banks step back in. my field of operation sits between these two groups, focusing on complex financings and m&As which require cross-border sourcing of funds, but not necessarily from the public markets.

How did you first become involved in the local British bilateral chambers movement? When the Polish market opened up, the local chamber of commerce was key – not just for business contacts but also for support in many aspects of life. I believe this was the case across the whole former COmECOn region.

Alongside a very welcoming embassy, the British Polish Chamber of Commerce (BPCC) and the British School became the tripod of support not only for the British, but pretty much the entire ex pat community in Warsaw (and later in the regions). This international profile of the BPCC still exists today, even though many members also have their own national chambers operating in Poland. I still have several close friendships that developed through the BPCC at that time.

Due to heavy workloads at Coopers & Lybrand and setting up Schroders in Poland, I was initially unable to offer my time to the chamber. As soon as I was able to establish my own business infrastructure, I wanted to give something back to the chamber which had given me so much in those early days – especially when it was going through difficult

times. I feel this desire to ‘give back’ is a very British trait and one which drives much of the uK voluntary sector.

Where do you think things have gone wrong in Europe and can they be repaired? I could write a thesis on this! There are so many elements to the crisis. Fundamentally, the crisis was brought on by the way people mainly in the finance sector and increasingly across the publicly listed part of the economy were – and still are – being encouraged to think and act through their remuneration structure.

Twenty years ago, a bonus was rarely more than three months’ base salary. now it can be ten times annual base salary or even more. I know the argument goes that this is dependent on performance, but as we have seen, accounts in even the most sophisticated companies can be manipulated. And when performance on paper is based on the short-term performance of financial instruments, the risks of which are not clearly known, then performance measurement becomes a farce.

What’s more, when fund managers are paid bonuses based on annual fund performance, their incentivisation profile becomes totally

Europe and the chamber movementAn interview with new COBCOE President, David Thomas MBE

Photo courtesy of KPMG doo Beograd

Interview Political


out of sync with the risk profile requirements of pensioners and their pensions. In addition, corporate directors of listed companies are spending more and more of their time ‘keeping investors sweet’ focusing on share prices rather than the long-term sustainability of their businesses. Add to that the bonus regime of directors, which are increasingly reflecting the structure in the finance sector, and market volatility, is guaranteed.

As corporate risk profiles rise as managers seek new products or ways of managing the business to drive yet better paper profits in the short term (for share price and bonus objectives). It becomes inevitable that the system will fail due to too much risk.

This happened in the uS with the high-yield/risk mortgage market and the sale of derivatives based on it. This failure destroyed Lehman Brothers, forced AIG into state bailout and brought the whole global banking sector to its knees. In rescuing it, the Western governments (and now it seems China, too) have exposed their own earlier excesses in borrowing far too much money for consumption rather than investment. Ergo the euro, dollar and sterling crises!

So where do we go? One solution could be that people return to being paid a base salary that reflects their importance to the business in which they work, and then a reasonable bonus if they do the job well. If they don’t, they could be fired – so the argument of keeping under-performing staff at high cost doesn’t apply here.

Yes, the age of people getting $10m or $20m bonuses would be over, but replaced by salaries openly reflecting the value of employees. Please tell me how these bonuses have helped the banks or large multinationals in the past that paid them. It would take a significant amount of volatility and steam out of the system, and potentially raise more tax revenue. Will this happen? I am not confident. The people who would have to bring in these changes are those most affected; it would be like turkeys voting for Christmas!

How do you think chambers of commerce should support members through this challenging period?Chambers always worry that in hard times they will suffer more than their members due to members’ budgetary constraints. This is a challenge I have faced as Chairman of the BPCC. But it is precisely at these times that chambers give the biggest benefit for their membership fee. This is a fundamental truth.

As a marketing cost, the membership fee is far smaller than other channels. Full use of the multiplier capability that chambers bring can provide significant benefits to companies. So chambers need to intensify the distribution of this message to

members and potential members. Through cooperation with COBCOE, chambers can bring new potential business contacts to their members, as with the COBCOE trade delegation mission being arranged with the British Chamber of Commerce in Turkey in november of this year.

What will be the greatest challenges for European business in the coming decade?The uncertainty that is with us today will most likely be with us for at least the first half of this period. Therefore judging when to invest is going to be tricky.

Five years from now we will also see the next generation of technologies, whether in communication (Facebook is already being deserted in ever increasing numbers by 15 to 30 year-olds) or IT. This will force a change in how businesses market their products.

Although Africa, Asia and South America will develop as important markets in the global economy, I am not one of the doomsday predictors for Europe. I believe ever advancing stock and manufacturing technologies will see the demise of China as a manufacturing location for the uS and European markets. Its own domestic and regional markets will take up much of the slack, while the demand for more flexible manufacture and logistics regimes will see a return of manufacturing to Europe; most likely in the eastern zone of the Eu.

How can COBCOE help governments restore economic growth in Europe?It has been said many times that trade is the lynchpin for growth. There are so many opportunities within Europe (not just Eu countries) for medium-sized businesses especially, and also small businesses, in the manufacture of niche products for the European market (and elsewhere).

There is already evidence of slightly more expensive products sourced within Europe being preferred by European buyers over those sourced in China for reasons of quality

and order flexibility. This has been seen in the textile, clothing and specialist component areas. With support, it wouldn’t take a lot of time for production networks to become a major driver for growth. These companies will need professional and logistic services, which as service providers provide a key multiplier to growth.

With and through its members, COBCOE can provide a hub for information, and more importantly contacts, enabling uK companies to become a major part of this network.

members of our chambers are in the market all over Europe and can become partners of uK companies seeking markets for their products or component sourcing. Their experience and contacts make them natural partners. What is clear is that companies in the uK are either afraid of Europe or just don’t see ‘the wood for the trees’.

What is your vision for COBCOE and what do you hope to achieve as President?I would like to see COBCOE reach its full potential and help member chambers reach theirs. The potential of the chamber movement is only now being recognised by government and business.

The changes going on within the British Chambers of Commerce (BCC) are extremely encouraging. Our mOu with them will enable closer connections between our networks. If we can support members and get the networks to fully exploit their potential power, uK trade with Europe will see unparalleled growth.

my ambition is for COBCOE to be able to demonstrate its contribution to a 50% increase in uK/rest of Europe trade by the time I step down. An unachievable target? I don’t think so. The uK’s position in and volume of intra-Eu trade has always been embarrassingly below where it should be. We have been the only ‘old’ Eu country not to exploit the expansion of the Eu market in physical goods.

We make a lot of things in the uK, and yet we seem to spend more time and money trying to get the Chinese, Brazilians and Americans to buy them than customers closer to home. I know getting on a short-haul flight is not so exciting, but believe me it is far more cost-effective for a medium-sized business in creating stable export demand.

“The UK has been the only ‘old’ EU country not to exploit the expansion of the EU market in physical goods.”

“My ambition is for COBCOE to be able to demonstrate its contribution to a 50% increase in UK/rest of Europe trade by the time I step down”

Interview Political


Going for growthBy David Lidington MP, minister of State for Europe, Foreign and Commonwealth Office

The current crisis in the Euro area and poor economic activity across the region has underscored the need for

urgent action to reinvigorate growth. The task is certainly not an easy one.

not only is the Eu facing an internal challenge of high business costs and stifling regulation, it faces a monumental competitiveness challenge: a historic shift of global economic power to Asia and Latin America. It is the growing economies of Asia and Latin America with which businesses are looking to invest and do business in.

To be able to compete and boost output on a global stage, the Eu desperately needs a game changer. This means reforming our economies to make it easier and less costly for businesses to operate in and take advantage of our high tech economy. Only then will we get through the crisis and bring about sustainable long term growth.

Firstly, we need to take greater advantage of the 21st century digital era. In Europe today only one in ten people order goods and services online from sellers in other member States. Even more staggeringly, on average around 30% of the Eu population have never used the internet. There is untapped potential to increase output here and therefore we can’t sit back and let this continue.

This is why we have been calling for the introduction of a simplified regulatory structure for safer and simpler online and mobile payments across the Eu. This will give consumers the peace of mind they need to purchase goods and services online from sellers in other member States. We must also expand broadband connectivity. The more people there are on the internet, the greater the consumer base for businesses to sell to. Completion of the Digital Single market can, according to Copenhagen Economics, add up to 4% to the Eu’s GDP.

Secondly, we stand firmly behind the Eu opening up new doors for trade. The conclusion of Free Trade Agreements with Singapore and Canada as well as initiating discussions with Japan and the uS is a start.

These could increase Eu GDP by 1.4% and add up to 4.6 million jobs to the Eu economy. But there are also opportunities for increased trade within the Eu, particularly with the growing economies of Central and Eastern Europe. It is remarkable that Poland is the only member State to have experienced economic growth of over 1% this year. We should look to take advantage of this.

The uK has long been the most vocal amongst member States in arguing the case for free trade with the rest of the world. Our hard work to increase exports has borne fruit. When this government came to office the uK was exporting more to Ireland than Brazil, China, India and Russia combined. As a result of our efforts, that is no longer true. Recent data published by the Office for national Statistics shows that the uK’s exports to the BRICs increased by 28% in 2011 and overtook the amount of British goods and services that go to Ireland.

Thirdly, we need to help firms focus on producing goods and services rather than ticking boxes. Here lies the need for a strong push from member States to stem the flow of legislation from Brussels. Thanks to our efforts we have gained momentum in getting the Eu to take action. At the start of this year the Commission agreed to exempt

small businesses from new regulation. We also encouraged the European Parliament to start producing impact assessments on their legislative amendments. It will help influence their action especially when their proposals have a detrimental economic impact. But more needs to be done. We want the Commission to release an annual statement on the total net cost to business of new Eu regulatory proposals. This would, for the first time, clearly depict the cumulative cost of Eu regulation. We are simultaneously pushing for a new overall burden reduction target, by sector. This would help bring tangible benefits to various industries.

However strong our determination is to succeed, the Government cannot achieve this on its own. We need British firms to help explain clearly to the Commission and others around Europe what they want and why the reforms business leaders are calling for will help bring growth and jobs to Europe. The more people that speak out, the louder the voice will be for reforms and the greater the likelihood that action will be taken. Only then will we see growth recover, profits increase and jobs created. We will also be able to witness entrepreneurs and investment from all over the world flocking to the new Europe, where it will be easier and more profitable to do business.

David Lidington mP was appointed minister of State at the Foreign & Commonwealth Office on 14 may 2010. He was elected to Parliament in 1992 and is the member of Parliament for Aylesbury. He worked for BP and RTZ before spending three years as Special Advisor to Douglas Hurd in the Home Office and Foreign Office.

mr Lidington has been Parliamentary Private Secretary to the then Home Secretary, the Rt Hon michael Howard QC mP from 1994 to 1997, Parliamentary Private Secretary to the Leader of the Opposition, Rt. Hon William Hague mP in June 1997. Other roles have included Shadow Opposition Spokesman at the Home Office, Shadow Financial Secretary to the Treasury, Shadow minister for Agriculture, northern Ireland and Shadow minister for Foreign Affairs

“we have been calling for the

introduction of a simplified

regulatory structure for

safer and simpler online and mobile payments across

the EU”

photo: www.shutterstock.com

Sir Malcolm Rifkind mP is a British Conservative Party politician and member of parliament for Kensington. He has served in various roles as a cabinet minister under Prime ministers margaret Thatcher and John major, including as Secretary of State for Scotland, Defence Secretary and Foreign Secretary.

Sir malcolm Rifkind was chairman of the Standards and Privileges Committee of the House of Commons and was appointed chairman of the Intelligence and Security Committee by the Prime minister, David Cameron in 2010, a post he will hold for the duration of the Parliament.

Political Business


The Future of Europe

D iscussion today of the prospects for Europe tends to oscillate rather loosely between Pangloss and

Cassandra, between bland assurance and dire prophecy.” So wrote the late Tony Judt in 1996. Both Dr Pangloss and Cassandra have put in regular appearances in the latest debate over Europe’s future, which due to the severity of the current crisis has been as much existential in nature as it has been over the European union’s future direction.

The necessary conditions for crisis resolution have been relatively clear for some time. The eurozone’s debtor countries must restore the faith of the bond markets and banks and governments in creditor countries by demonstrating their willingness to make painful cuts and difficult reforms. Creditor countries must agree to some form of debt or borrowing mutualisation. All eurozone countries will have to acquiesce with the necessary political structures at the European level to prevent a similar scenario from arising in the future.

The British Government has long accepted that those who will continue to resist long-term visions of deeper integration across the Eu must nevertheless acknowledge the need for some form of fiscal union in the eurozone to complement its ill-judged monetary union. David Cameron’s veto in December 2011 was not an attempt to derail this process, but to prevent it from being folded into existing Eu treaties. This would not only have placed intolerable demands upon states that had not opted to join the euro, but also carried the risk of an effective response to the eurozone crisis being strangled by another interminable round of Eu-wide institutional reorganisation.

The post-veto debate focused on the spectre of a ‘two-speed’ Europe. I reject the very notion of ‘speeds’ of European integration. It carries the assumption that although countries may be moving at different speeds, they all expect eventually to reach the same destination. I do not believe this to be the case. This does not mean that Eu members should all pull in totally different directions. It is a matter of distance, rather than speed or direction.

In any case, the Eu was not split in two by the introduction of the euro; it has always been divided along numerous axes. members can be categorised in terms of eurozone and non-eurozone, Schengen and non-Schengen, nATO and non-nATO, creditors and debtors, pro-Community method or inter-governmentalist, and so on. The sheer complexity of today’s European union of 27 members must therefore be acknowledged, and a more flexible approach to European governance developed accordingly.

nothing about the Eu’s institutional development is inevitable. The risk of a gulf emerging that prevents all of the Eu’s members from cooperating constructively

when necessary can be addressed by proactive moves to address relations between the 17 and ten, for example guaranteeing the ten, access to discussions between the 17, avoiding the damage of mutual suspicion and pre-arranged bargaining positions.

The prize is a Europe held together by its shared interests and focused on the practical benefits of voluntary cooperation, rather than the myopia and resentment of cooperation by compulsion in an increasingly rigid block. The vision of a more flexible Europe à la carte, held together by a shared interest in the health of certain core European institutions like the single market, would not mean a radical transformation but a means to preserve Europe’s strengths, whilst recognising its chronic weaknesses.

These are discussions for the medium-term, as the biggest threat to Europe is the immediate economic crisis. Europe’s leaders must do the absolute minimum necessary to save the euro, mindful of the risks of going too far. The eurozone now has the institutional tools to push for the necessary integration, but it will be extremely difficult. Their governments must spell out the potential risks and rewards to their populations of the strategy they are pursuing. They must gain consent at the national level for the substantial sovereignty that will necessarily be forsaken.

Desperate times do not always call for desperate measures. If and when resolution is achieved, it will have been a process, not an event. Europe is like a tightrope walker; it must resist being pulled too far to the left or the right, it should not attempt a dangerous lunge for safety, but neither can it afford to stand still. Instead, it must inch forwards towards safety with a clear goal in sight.

By Sir Malcolm Rifkind, KCmG, PC, QC, mP

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Political Business


primary source of news. Only 27% of total TV news minutes are from BBC news but those minutes attract more than 70% of audience viewing figures. Added to which, the BBC itself estimates that there are now more than 120 news websites in the uK with more than 100,000 users, yet BBC news still reaches 80% of adults every week.

Of course, this does not mean the BBC can be complacent. As I have already said, it must always strive to do better. my fellow Trustees and I will continue to push the Executive to meet and exceed the considerable audience expectations placed upon the BBC to provide the highest standards of accurate and impartial news.

stories from a consumer perspective, rather than to consider that audiences might be investors or employees.

In the intervening five years, I think the BBC has addressed these issues. In Robert Peston we have a first rate business editor who really gets under the skin of his brief and has genuine insight, not to mention an unrivalled contacts book that brings with it genuine exclusives. In Stephanie Flanders we have an economics editor whose ability to explain complex concepts clearly and simply in a compressed slot on a news bulletin is second to none.

And with the current eurozone crisis and the associated economic fall out, the Trust is working with colleagues in the BBC on this. One step we are taking is to hold a seminar on economics reporting in the autumn where we will scrutinise and debate the BBC’s coverage with internal and external experts. This will help us make sure we are getting the balance and tone right in reporting what I believe is one of the biggest stories in our recent history.

One of the reasons the BBC Trust exists is to ensure, in this and other areas of BBC coverage, that the BBC is as good as it can be, not least because so many people choose it as their

If the BBC exists to do one thing above all else, it is to produce high quality, accurate and impartial news. That goes to the

heart of the BBC’s mission not only to educate and inform, but to help support democratic debate and ensure the public are able to hold their democratic representatives and others in public life to account.

And while the BBC’s news generally ranks among the very best in the world, we can expect to come under ever increasing scrutiny as the debate about appropriate regulation for the press following the phone hacking scandal in the uK continues.

I should say from the outset that I do not believe in statutory regulation for the press. And I also do not believe that the regulation of the BBC and other broadcasters should be extended as a result of any criminal activity that may have taken place at British tabloid newspapers. But I do believe that recent events reveal a degree of trust in BBC news which places an ever greater onus on the BBC to show it can reach the highest standards of impartiality and accuracy in its news coverage.

The BBC Trust, the governing body of the BBC, which I chair, plays a key role in ensuring these standards are met. In part, this involves being the last court of appeal for complaints about BBC coverage. Where people feel that the BBC’s programmes have breached the editorial guidelines that set out the required standards, we consider complaints and can require the BBC to take action where appropriate.

more broadly, every year, we carry out reviews which look at specific areas of coverage, most recently on science and on the Arab Spring, to ensure that the BBC is providing genuinely impartial reporting. This involves commissioning a report from an expert in the relevant field.

The first such report published by the Trust looked into the impartiality of the BBC’s business coverage and was published in 2007. The panel, led by economist Sir Alan Budd, concluded that, while overall the BBC’s business output met the required standards of impartiality, there were areas for improvement. In particular it found there was a tendency for the BBC to be unconsciously partial and unbalanced, in part stemming from a lack of awareness of the commercial world. The panel also found a tendency for the BBC to come at

Lord Patten of Barnes is Chairman of the BBC Trust, Chancellor of Oxford university and Co-Chair of the uK-India Round Table.

Lord Patten was a member of Parliament from 1979 to 1992 and was appointed Governor of Hong Kong in April 1992, a position he held until 1997, overseeing the return of Hong Kong to China.

Previous government posts have included minister in the northern Ireland Office and Department of Education, minister for Overseas Development, Secretary of State for the Environment, Chancellor of the Duchy of Lancaster and Chairman of the Conservative Party. Lord Patten took his seat in the House of Lords in January 2005.

By Sir Malcolm Rifkind, KCmG, PC, QC, mP

“Only 27% of total TV news minutes are from BBC News but those minutes attract more than 70% of audience viewing figures.”

The BBC exists to produce high quality, accurate and impartial news

Trust the BBC

By Lord Patten of Barnes CH Chairman, BBC Trust

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Business Business


International OptimismBy Peter Boyles, HSBC CEO for Continental Europe & Head of Commercial Banking for Europe

Growing demand from emerging markets provides optimism for UK business, despite uncertainty within the eurozone.

emerging markets, as they see a growing demand for their goods and services.

Interestingly, one of the uK’s fastest growing export markets will be Canada, both from an export and import perspective. Canada is the only developed nation in the top ten of HSBC’s Trade Confidence Index, which features countries from Latin America, the middle East and Asia. This surge in confidence highlights that Canadian businesses are increasingly optimistic about the global economy and importantly more optimistic than they were six months ago. However, they are expressing concern that logistical constraints, such as lack of availability of raw materials or transport infrastructure, may hinder growth resulting from greater demand for goods and services from other countries, like the uK.

Other growing export partners for the uK will be Brazil, China and India and we urge businesses looking to grow to look at taking advantage of these overseas opportunities as they could also offer significant prospects for growth. We are seeing an increasing number of our customers looking to do business beyond the uK’s traditional trade partners in Europe, and as uK trade is predicted to grow faster than previously suggested, certain sectors are likely

increased demand for goods and services from emerging markets. This will help to balance the trade deficit the uK has seen in previous years and hopefully help to trade the economy out of recession.

HSBC’s Trade Confidence Index also highlights that 93% of uK businesses are feeling positive about the outlook for international trade volumes over the next six months, supporting the long term economic outlook. Confidence is at 105 on the trade confidence index overall, showing an improvement from 2011, despite the current eurozone fragility. Interestingly Turkey has grown in confidence the most significantly over the last six months, and now stands alongside India as one of the most confident countries studied, with Poland and the Czech Republic predicted to be two of the fastest growing exporters.

One of the reasons for this is likely to be that businesses are becoming more aware of the need to look further afield for opportunities to grow their business. The eurozone has always been a key trade partner and is likely to remain so, but more significant growth opportunities are now available to help support uK businesses who want to widen their horizons further, particularly those focusing on

Today’s business world is one characterised by change and uncertainty. The economic picture

for many countries in Europe remains difficult and, as a result, businesses across the uK are finding themselves negotiating a difficult path. We believe, now more than ever, that it is the businesses looking beyond our shores to grow that are seeing the most success, whilst also continuing to drive the uK’s road to economic recovery.

This international optimism is supported by the findings of our latest Global Connections and Trade Confidence research, which highlights huge potential opportunities for British businesses. uK SmEs are forecast to increase international business activity by 66% over the next 15 years. In addition to this, the report predicts that demand for imports from emerging markets will grow faster than the level of exports they produce over the next five years. This will see emerging markets developing into “consumer” markets and is fantastic news for businesses that currently export, or are looking for opportunities to expand into new markets

The report also suggests that uK exports are expected to exceed imports as they fulfil the

Business Business


Peter Boyles has worked in the uK, Hong Kong and the middle East. He has held various senior positions including Deputy CEO for HSBC malaysia, Deputy General manager, Corporate Investment Banking and markets for HSBC CCF (France), Head of Human Resources for HSBC Group and CEO of HSBC France.

He became Chief Executive Officer for Continental Europe on 1st February 2010, and is Head of Commercial Banking for Europe

to thrive with increased overseas demand, particularly from a skills and specialism perspective. HSBC’s data also reveals that growth is likely to be greatest in sectors which correlate closely with economic development. Automotives, non-Crude Oil, medicines and Printing, are the sectors which the research predicts will dominate world trade over the next 15 years with emerging countries leading the growth.

So despite times of economic uncertainty and stories highlighting the challenges uK businesses face, it’s promising to see there is real optimism and opportunities for businesses that are willing to explore new markets, and we look forward to supporting them.

notwithstanding the difficult economic landscape of the last five years the latest WTO statistics show a 5.3% growth in world trade. Fortunately, entrepreneurs look beyond the short-term and take a balanced view. Amid persistent headlines of economic gloom, HSBC’s latest research offers much needed ammunition to re-set the economic conversation.

The report’s headline finding, signposts a much overdue rebalancing in world trade patterns. It is clearly good news for companies in developed markets seeking willing trade partners in the export drive required to lift them out of the economic doldrums.

Despite the Confidence Index showing broad optimism about what the next six months hold, businesses cannot afford to be spectators on these significant trade changes. The message for businesses, small or large, is to understand the long term picture. Those in developed nations like the uK have to look beyond their borders to the opportunities in rapidly growing markets.

We are also seeing evidence of the growing South-South trade corridors, where emerging markets increasingly trade directly with each other. While these emerging corridors add resilience to emerging markets and offset sluggish demand in developed markets, it is a trend western companies cannot afford to miss out on!

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Business Business


Opportunities and Challenges Scotland’s solicitors are experiencing

a period of rapid and far-reaching change. The pace is unlikely to slow

in the near future, but the changing legal marketplace presents opportunities as well as challenges.

Like everywhere in Europe, the prolonged economic downturn has proved difficult for all sectors of the legal profession, with our high street practices being particularly hard hit. up and down the country, firms have taken tough decisions to cut costs. As anticipated in the Law Society of Scotland’s strategy for the current decade, and demonstrated by a number of recent high-profile announcements, some businesses have explored the option of consolidation. Although the process of merger, acquisition and closure has resulted in the loss of some familiar names in Scotland’s legal sector, it has provided others with an opportunity to expand and prosper.

Despite the current financial environment, opportunities do exist for legal firms of all types and sizes. Working as a solicitor is a great platform from which to develop other business skills, by focusing on management, marketing, efficiency of delivery, customer service, research and development, financial planning and control. Referral networks, whether formal or informal, are increasingly useful in an ever more specialised profession. And with communications constantly improving, the formation of such networks is easier than ever before; just look at the growing numbers of solicitors now using social media sites such as Twitter and LinkedIn to nurture professional relationships and communicate with clients. Solicitors may be competing for business, but healthy

interaction remains, and we continue to rely on others with different expertise from our own. more than just evidence of our confidence, the collegiate nature of the profession is one of our biggest strengths.

A recent development that we very much support is a Scottish Development International’s initiative to promote the country as an international hub for legal process outsourcing.

Scottish solicitors are highly regarded internationally and the Law Society has welcomed the government’s recognition of the importance of the legal sector as a major employer, of approximately 20,000 people, including our 10,400 solicitor members, and its GBP 1.2 bn contribution to our economy. The SDI, the Scottish Government’s international economic development agency, has cited the high quality of legal education in Scotland and the capability to do more complex outsourcing work in its efforts to attract more legal work to our shores from around the globe.

The introduction of alternative business structures (ABS), known as licensed legal services providers, will also present opportunities for those keen to develop new business models. Although the Scottish Government’s timetable for implementation has slipped, the first ABS could arrive in Scotland by the end of this year or into 2013. no doubt some of our bigger firms will take a lead but there are potential advantages for firms of all shapes and sizes, as evidenced by the increase in interest shown by a number of high street firms.

It is interesting for us to look beyond the border to our neighbours in England and

Wales. The first three ABSs to be licensed there were the uK-wide supermarket and financial services chain The Co-operative, an Oxfordshire firm with seven fee earners, and a husband and wife team who wanted to take advantage of the legislation permitting these new business structures as a means of allowing joint ownership. In other words, a diverse group of legal services providers. Likewise, both smaller and larger firms have made enquires to the Law Society about the possibility of applying for ABS status, with most considering bringing other professionals into the business rather than external capital. This perhaps reflects the key difference between ABS in Scotland and south of the border, as the legislation permitting ABS, the Legal Services (Scotland) Act 2010, demands majority ownership by solicitors and/or other regulated professionals of any new legal services provider. In England and Wales 100% external ownership of a law firm is permitted.

Of course, other challenges exist, including the possibility of cuts to the Legal Aid system and future court closures. These are issues which are of real concern to our members and, as such, have been identified as key priorities for the Law Society. Working with members, we will robustly represent the views of solicitors and, just as importantly, the public in defending access to justice.

The continued rate of change means effective communication and unity of purpose are vital to help ensure that our members can benefit from new opportunities which arise, and that we promote what Scotland has to offer to the legal and business communities both at home and further afield.

Austin Lafferty is a solicitor, broadcaster, journalist and artist, who has worked in general practice since 1981. As well as running his own multi-branch firm in and around Glasgow, he has worked in a variety of media roles, having been a radio and television presenter on numerous programmes.

Austin is a graduate of St. Aloysius College and the university of Glasgow, is a newspaper columnist on legal matters who has worked on the Herald, the Sun, the Sunday Post and the Times (both Glasgow Evening

Times and the London Times). He has also written It’s The Law! which is a handbook on Scots Law for citizens, published in 2004.

Austin has been on the Council of the Law Society of Scotland since 2006 and has sat on various committees, convening the nominations Committee and the Strategy Group, and been involved in lectures, seminars and other events for the profession. He was elected Vice-President of the Law Society in may 2011 and as its President in 2012.

By AustinLafferty, President of the Law Society of Scotland 2012-2013

A changing legal marketplace presents opportunities as well as challenges for solicitors

Business Business


A ll stories need endings. The story of the eurozone crisis is no exception and at present there

appear two possible options. The first solution would involve the creation of a more integrated Europe, with mutualised debt and an agreement on national budgets. This would have the effect of bolting the euro area economies together and lessening the possibility of acute economic downturns in individual member states. The second option for the eurozone is disintegration. At present, however, both options appear impossible.

In the first option, eurozone nations would pool their debts. The ultimate expression of this would be the eurobond, a contract allowing euro area governments to borrow money from investors at an average euro area interest rate, rather than at a country specific one. For Portugal and Spain, this would immediately lower the burden of debt repayments.

mario monti, the Italian premier, has indicated that he favours eurobonds, earlier this summer telling a Greek newspaper that further European integration was inevitable and that eurobonds would be a natural consequence of this. François Hollande, the French president has also made it clear that he is for the introduction of eurobonds. Jim O’neill, the chairman of Goldman Sachs Asset management has commented that euro area bonds, combined with reasonable growth in the struggling economies of Spain and Italy would lead to a euro area shared bond yield of between 4-5%. Writing in the Telegraph in July, he proposed that this level would be “perfectly consistent with long-term trend growth of 2 per cent.”

One obstruction stands in the way of this debt-sharing idea and it is a big one—outright German opposition. In June, Angela merkel, the German chancellor, told a group of German policymakers that “as long as I live,” there would be no eurobonds. Germany does not want to stand behind the debts of other countries.

The thought of sharing the debt burden of the profligate south is anathema to merkel,

whose sense of fiscal probity is central to her politics. There are already cracks opening up in her coalition government over the possibility of future bail-out money for Greece, which continues to muddle along in a state of rolling economic disaster. But eurobonds would constitute a long-term commitment to the entire euro area and German taxpayers would look askance at any politician who offered up continuing foreign access to the national coffers in such a way. Germany, after all, has kept its house in order and run a trade surplus—so why should it now have to pay for those that did not?

The alternative is for the euro area to be broken up, or dissolved entirely. Some countries, such as Finland, are already experiencing extreme bailout fatigue. The strongly Eurosceptic True Finns party won 19% of the vote at last year’s elections and has traded heavily on taxpayer anger over bailouts. Here, as elsewhere, the impression is growing that a shared currency is imprisoning Europe’s economies and in the process, destroying its future. In their view, the euro must go.

But it cannot. Even the orderly dismantling of

the euro could have catastrophic unintended consequences. The disappearance of one mid-sized Wall Street trading house on September 15th 2008 led to the most shattering financial panic of the last 80 years. If the currency of an entire continent were to vanish, then the effects of the collapse of Lehman Brothers would seem paltry by comparison. If the euro were to fail, then the value of every contract or asset priced in euros would, in an instant, become uncertain. What would the value of euro cash deposits be? What would be the value of euros deposited overseas? What would be the value of euro-denominated government bonds? How could banks and other institutions value their holdings of such bonds?

Germany will not allow itself to become Europe’s underwriter. But if not Germany, then who? If no one, then a euro collapse would be disastrous—added to which, the weight of history presses down hard on the present situation: will this generation of politicians allow Europe’s post second world war settlement to fail? One of two impossible things now has to happen— and time is short.

Europe’s bondsBy James Elwes, Deputy Editor, Prospect magazine

James Elwes is the Deputy Editor of Prospect and he writes on science, politics and the arts. Recent articles have included an analysis of the problems faced by the Liberal Democrats, an interview and profile of the artist Frank Auerbach and an interview with Professor Peter Higgs, after whom the Higgs boson is named.

Before Prospect, James was the editor of Financial World magazine, the publication of the Chartered Institute of Bankers. James worked closely with the Centre for the Study of Financial Innovation, the London and new York think tank, in producing the monthly magazine, which was the largest banking magazine in Britain and he was editor for six years.

James also worked on the launch of CnBC television’s first ever global programme broadcasted into 300m homes and businesses each morning. Before this, James worked for Euromoney the publishing company, in the firm’s legal media department.

main photo: www.shutterstock.com

Responsible Business Responsible Business


Young EntrepreneursEncouraging global support for young entrepreneurs

Sir Malcolm Williamson worked for Barclays Bank PLC from 1957 to 1985. He was then appointed a member of the Post Office Board and managing Director of Girobank PLC. In 1989, he joined Standard Chartered PLC and became Group Chief Executive. In 1998, he moved to San Francisco, uSA, as President and CEO of Visa International until 2004.Sir malcolm’s current non-executive roles are Chairman of Friends Life Group PLC, Invicta Card Services Ltd, the Cass Business School Strategy and Development Board, the Board of Trustees for The Prince’s Youth Business International and he is on the Board of Trustees for Youth Business America. Previous non-executive roles include Chairman of national Australia Group Europe Ltd, Clydesdale Bank PLC, Signet PLC and Deputy Chairman of Resolution PLC. He was also a Director of national Australia Bank Ltd, G4S PLC, JPmorgan Cazenove Holdings, national Grid Group PLC and was a member of the Board of Trustees for the International Business Leaders Forum.

under-served young entrepreneurs with a combination of training, access to capital, mentoring and other business development services. They adapt this common approach to their local context, working in partnership with governments, businesses and multilateral and civil society organisations and increasingly with COBCOE members.

There are so many talented young entrepreneurs around the world with great ideas, but who struggle to find the right kind of support to enable them to start up their business. That is why I am delighted that COBCOE and YBI have established a strong and effective partnership to enable both organisations to help address the challenge and encourage new business and economic development.

We are all too aware of the many economic and social challenges that face us in

Europe and in other parts of the world but, in many ways I think that the challenge of youth employment is perhaps the greatest. In many countries in Europe youth unemployment is nearing, or in some cases, exceeding 50%. This not only risks creating social unrest, but it also wastes the talent, energy and ideas of many of those young people.

I have the pleasure and privilege of chairing The Prince’s Youth Business International (YBI) which is a global network of non-profit initiatives that help young people in need to set up and run businesses. HRH The Prince of Wales is our President. YBI members assist

With youth unemployment at record levels and so many national economies struggling, I believe that we must do all we can to show how young entrepreneurs can create new employment, bring innovative new products to communities, and strengthen other enterprises through trade. By doing so, we can encourage more support globally for young entrepreneurs.

The YBI network has helped start more than 100,000 businesses and we now help a young person to start a new business every hour of every day, and virtually all of those go on to employ others. The case studies highlighted on these pages show what can be achieved by young business people given sufficient support.YBI’s vision is to make entrepreneurship accessible for all

Fushun Zhu is from Chengdu, Sichuan in western China and has built a successful egg production business with the support of Youth Business China, a member of the Youth Business International network.

Fushun Zhu used an $8,000 loan and a volunteer mentor from Youth Business China to expand his small scale farm

into the Fushun Ecological Breeding Company.

The business now produces 30,000 eggs a day and in the last financial year his business earned uS$1.5m. Fushun Zhu’s company has a cooperation agreement with the largest supermarket in Western China, and his LiuJiGe brand of eggs can be found at any local supermarket.

Fushun Zhu: China

By Sir Malcolm Williamson AO, CBE, Chairman of Youth Business International

Responsible Business Responsible Business


Roy Joulus is a passionate entrepreneur who had an idea to create a range of window boxes that would help urban gardeners make the most of their limited space. His company, Greenbo produces brightly coloured products which feature a unique saddle design, which means they fit securely onto balcony railings.

Despite a fantastic business proposition, Roy was unable to secure a loan from commercial banks to finance his idea, and instead turned to YBI’s member in Israel, Keren Shemesh, for support.

Keren Shemesh provided Roy with a loan and a volunteer mentor to help Roy turn his business idea into the success it is today.

In a few short years Greenbo’s unique appeal has taken it into markets around the world. Designed and built with sustainable and recycled materials, the cutting edge Greenbo planter has recently been awarded the prestigious and industry leading Red Dot Design award, by the leaders from the world of design.

Roy Joulus: Israel

young people who want to start their own business and we focus on the underserved and unsupported and the critical process of actually starting and growing a small business. Broadening the entrepreneurial base not only addresses unemployment but it also boosts productivity, vital to restoring healthy economic growth. Our ambitious long term goal is for YBI to be supporting the creation of 100,000 new businesses a year by 2020.

Entrepreneurship provides an ideal opportunity for many but it is estimated that of those who have the desire and talent to run their own businesses, less than one third are able to do so, due to the barriers and challenges they face. Our role in YBI is to help remove some of those barriers and challenges.

But we cannot do any of this alone. We need support and encouragement to make a real impact on youth unemployment and to expand our reach. We are most grateful for the great support we receive from COBCOE members and hope you will continue to help our local members and, most importantly, the young entrepreneurs they support.

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Breaking the glass ceiling for women on company boardsBy Vivien Reding, Vice-President Eu Commission, Eu Justice Commissioner

Human trafficking, the slavery of our timesBy Myria Vassiliadou was appointed Eu Anti-Trafficking Coordinator

T rafficking in human beings is the slavery of our times. Its patterns evolve along with the changing socioeconomic circumstances,

while Europe commits to working together for its eradication. Especially, in times of economic and financial turbulence, traffickers continue targeting the most vulnerable of our societies, rendering them into slaves for forced labour, sexual exploitation, domestic servitude, organ removals, illegal activities, such as drug trafficking. These people are building our homes, cleaning our houses, pick our fruits or tailor our clothes. And the responsibility for addressing this heinous violation of everything humanity stands for is upon society as a whole. In general, it is difficult to gauge the full extent of trafficking in human beings due to its criminal aspect. While women do represent a majority of the victims, traffickers do not discriminate; men are forced into hard labour, children are coerced into begging and stealing, girls and boys are forced into sexual exploitation. According to preliminary data of the European Commission most of the registered victims in member States are used for sexual exploitation (76% in 2010). The remaining is forced into labour (14% in 2010), begging (3%) and domestic servitude (1%). In terms of gender, preliminary data available shows that women and girls are the main victims of trafficking in human beings; female victims accounted for 79% (of whom 12% were girls) and men for 21% (of which 3% were boys) of victims between 2008-2010. Victims come from countries within and outside of the Eu. more and more we see victims that are trafficked in their own countries. It is now even more pertinent to have a harmonised Eu approach to trafficking in human beings. The Commission’s policy and legislative framework is characterized by a comprehensive approach in addressing trafficking in human beings. The focus is on human rights, victims are central and policy should be gender-specific. This is reflected in Directive 2011/36, to which the uK opted-in. It is expected to have considerable impact, once fully transposed by the member states by 6th April 2013. The Directive focuses not only on law enforcement but also on prevention, protection and building partnerships in addressing trafficking in human beings. To follow up on the Directive, on 19th June 2012 the Commission adopted a new and integrated Strategy. The Eu Strategy towards the eradication of trafficking in human beings identifies five priority areas; a) identifying, protecting

and assisting victims of trafficking; b) prevention of human trafficking including the reduction of demand; c) increased prosecution of traffickers; d) enhanced coordination and cooperation and policy coherence; e) increase knowledge and better response to trafficking in human beings.my main task as the Eu Anti-Trafficking Coordinator is to improve coordination and coherence between Eu institutions, Eu agencies, member states and international actors, and to provide strategic policy guidance in this respect. The private sector should play a special and key role in reducing demand and supply for trafficking in human beings and I see it as my task to encourage the private sector to do this.This is reflected in the Strategy that includes actions aimed at the involvement of the private sector, in particular in the areas of the reduction of demand and supply. The complexity of demand reduction stems also from the fact that it touches upon several and diverse levels, targeting consumers, employer demand for cheap and pliable labour, and demand from parties involved in human trafficking, such as recruiters, facilitators and brokers. Businesses should have supply chains free from human trafficking. Therefore, one of the actions included in the Strategy is that of launching a study on demand and supply, which would also contribute to better understanding of the root causes of trafficking. The Commission will establish a European Business Coalition against trafficking in human beings by 2014, a purpose to which I am personally committed. This responds to the requests of many stakeholders who emphasised the need to create partnerships with all actors, including the private sector. This coalition would have the main functions of raising awareness and promoting practices reducing demand. In particular, the Commission intends to work together with the Coalition to develop models and guidelines on reducing the demand for services provided by victims of trafficking in human beings, in particular in high-risk areas, including the sex industry, agriculture, construction and tourism. In this respect, I am extending an invitation to all stakeholders who are committed to the purpose of eradicating trafficking to join the Commission and strategically contribute. Demand for services by victims of trafficking plays a strong role as a root cause as one of the pull factors. In fact, the Directive 2011/36 sets the frame by obliging member states to take effective and practical measures to curb demand and raise awareness on the phenomenon. It further urges member states to consider measures for criminalising the use of services with the knowledge that the person is a victim of trafficking. To this end, the Commission is mandated by the Directive to submit a report to the European Parliament and the Council, assessing the impact of existing national law, accompanied by adequate proposals. This will be a crucial development and a momentum in further forming relevant policies, and a demanding task I am committed to. Working in partnership towards the eradication of trafficking in human beings is our joint goal, and the private sector has a crucial role to play. I look forward to continuing working on this issue and to increase cooperation with COBCOE and all those interested in addressing this phenomenon.

Myria Vassiliadou was appointed Eu Anti-Trafficking Coordinator in march 2011.She has served as Secretary General of the European Women’s Lobby in the Eu and a founding member of the Think Tank, mediterranean Institute of Gender. An Assistant Professor of Sociology at the university of nicosia, myria has taught undergraduate and graduate classes in Sociology.

myria has worked in the European Commission as a Detached national Expert in the Directorate General for Research. She has served as a member of various Advisory Boards, Expert Groups and acted as a consultant at the national and international level. She has worked extensively in the area of fundamental rights related to areas of trafficking in human beings, gender, migration, ethno-political conflict, and the media.

• Human trafficking is one of the most lucrative illicit businesses in Europe, with criminal groups making about $3bn from it per year.

• In Europe, over 140,000 victims are trapped in a situation of violence and degradation.

• Up to 1 in 7 sex workers in Europe may have been enslaved into prostitution through trafficking.Source: United Nations Office on Drugs and Crime, 2012

Parliamentarians Against Human Trafficking project is trying to do something about this by bringing parliamentarians together in their own Eu national parliaments to speak with one united voice. In Wilberforce’s times of slavery, the problem was transparent; today it is hidden and difficult to detect.

Together with COBCOE, this important project, funded by the European Commission, has persuaded 19 Eu country parliaments to develop a proper strategy.

On 16th and 17th October 2012 some 100 parliamentarians will be meeting in London to review the 1st year of operations and to consider what new initiatives are needed to maintain momentum.

The Speaker of the House of Commons is organising an evening reception to give credence to the conference and to mark Anti-Slavery Day which is on 18th October. Amongst many, the project would aims to work with businesses through COBCOE during the coming year; small or large firms could offer opportunities to help trafficked people, both men and women, with training, internships and work experience, to help them by way of a transition experience. We already benefit from support from IVECO (FIAT), Siemens, Virgin Atlantic and a number of smaller companies that are considering how they can play a part. Only a total commitment and awareness by the public is going to stop the tide of people trafficking.

Parliamentarians Against Human Trafficking project

Above: Left to right – Stana Buchowska, Anthony Steen with former Prime Minister of Poland, Leszek Miller, Lady Butler-Sloss and Ryszard Kalisz MP at the PAHT Warsaw seminar in the Polish Parliament in April 2012.


In the past few decades, Europe has made significant progress in getting more women into the workforce. The

female employment rate is 62%, up from 55% in 1997. Women are also making great strides in education today, representing 60% of new university graduates.

Gender balance in top positions has been shown to contribute to better business performance, improved competitiveness and economic gains. For example, a report by mcKinsey, the international management consultancy firm, found that gender-balanced companies have a 56% higher operating profit compared to male-only companies.

Ernst & Young researched the 290 largest publicly-listed companies. They found that the earnings at companies with at least one woman on the board were significantly higher than in those that had no female board member. However, despite these figures and despite the progress made so far, there has been one significant shortfall: the lack of women at the top levels in companies. Women hold 13.7% of the top positions in the major publicly listed companies in Europe, and around 3% of CEOs in these companies are women.

In spite of limited progress, it must be said that not all of Europe is lagging behind. It is interesting to see how the economic performance of norwegian companies developed after the introduction of mandatory quotas. Studies show that these companies were not in a situation worse than before the introduction of the quota legislation. And in some cases they were even better off.

The European Commission gave self-regulation a chance. We encouraged companies to voluntarily get more women on their supervisory boards. One year later we

see a progress of only two percentage points with the number of women on supervisory boards Europe-wide standing at 14%. At the same rate of progress, it would take decades to achieve something approaching gender balance in boardrooms. However, there are also good examples; countries that have achieved considerable progress. France, for example; the country adopted a women quota last year. The results are clear: there are now 22% women on the boards of CAC 40 companies; that is a 10% increase compared to the year before. The increase resulting from this quota, accounts for around half of the increase in the entire European union. It is also encouraging that, for example, in Germany, the DAX 30-listed companies have specific goals and targets for a higher participation of women in leadership positions. unfortunately, this commitment does not extend to supervisory boards or executive positions.

These examples show us that quotas work. But we need more than just some ‘examples’. We want Europe to achieve real progress. In tough economic times and in times with low birth rates and an aging population, we should make use of the talents and contributions of everybody - and women account for more than half of the population.

Incentives for women to enter and stay in the workforce, including credible career prospects, are essential. One such incentive consists in opening the door to top management positions. It is not that we have too few highly qualified women. As mentioned previously, women account for 60% of new university graduates, representing an untapped potential in the labour market.

Breaking the glass ceiling for women on company boards is a common challenge facing Europe’s economy. To redress the imbalance in Europe’s boardrooms, the European Commission launched a public consultation earlier this year to identify possible action. The results of this consultation will feed into an assessment of possible Eu-level measures to enhance female participation in economic decision-making. In autumn, the European Commission will decide whether to propose action and if so, which form this action should take.

Persistent failure to encourage and enable women to make full use of their potential has cost us dearly. It is time to act now. I am aware that business representatives are not necessarily friends of binding quotas. Well, I am not either. But I like the results binding quotas bring.

Breaking the glass ceiling for women on company boardsBy Vivien Reding, Vice-President Eu Commission, Eu Justice Commissioner

Vivien Reding graduated with a Doctorate in Human Sciences from Sorbonne university in Paris and began her professional career as a journalist alongside a role as a member of Luxembourg Parliament, with several prominent positions spanning a long career in Luxembourg political life. Following on in key roles in the European Parliament, Vivien Reding was appointed member of the European Commission in 1999 initially with responsibility for Education, Culture, Youth, media and Sports, followed by responsibility for Information Society and media.Vivien Reding has been Vice-President of the European Commission, responsible for Justice, Fundamental Rights and Citizenship since February 2010

Women in Business

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The time is upon us to address gender inequality on boardsBy Jean M. Stephens, CPA, Chief Executive Officer, RSm International

Ms Jean Stephens became Chief Executive Officer of RSm International in 2006. RSm is the sixth largest global network of independent professional services firms.

Prior to joining RSm in London, ms Stephens was an audit partner in mcGladrey & Pullen LLP (a member of RSm International) in the uSA. ms Stephens remains a partner in this firm.

ms Stephens is passionate about encouraging the use of cultural differences for the benefit of international development. She is also interested in using her

international experiences to promote the development of our young professionals, both men and women.

ms Stephens has held numerous leadership positions in a variety of organisations including President of the San Bernardino Chamber of Commerce, Regional Leader for the Group Study Exchange programme for Rotary International, Vice President of Finance for the Inland Empire Symphony and three-term President for the San Bernardino YWCA.

ms Stephens has previously appeared on both TV and radio broadcasts including CnBC and BBC Radio 4.

At a time when companies and even whole economies are facing existential crises, many CEOs will

be questioning whether now is the moment to address one of the longest running, complex and emotive issues facing the boardroom; women on boards.

my opinion is there has never been a more important time to ensure companies have the most capable business leadership possible. To achieve this we need to draw our leadership candidates from the broadest pool available. In this case the many thousands of women overlooked each year for senior management positions.

The evidence, much of which was highlighted by Commissioner Reding in her article, (see page 19 for reference) is that a diversified board brings economic benefits to a company by providing different views, different perspectives and thus facilitating better decision making at the top.

In two separate studies (2007, 2010) mcKinsey, the global management consultancy firm, outlined clear research-based evidence to support the economic case for more women on boards. We cannot afford for the issue of gender equality on boards to be deferred for a moment longer.

There is a gender imbalance on boards because we have been relying only on self-regulation rather than a meaningful collaborative approach to achieve change. Will relying on self-regulation going forward provide anything more than further delays in creating a fair gender balance on Eu boards?

norway’s imposition of a quota in 2006 proved that legislation can force important changes

without causing significant issues. To follow norway’s lead the Eu should impose quotas only on Europe’s largest private companies and public entities. In 2011, France also set quotas under which larger listed and unlisted companies reserve 20% of board seats are for women which has since boosted the number of women on French boards from 12% to 20%.

This is encouraging, but I firmly believe legislation needs to be accompanied by assistance from the Eu in helping companies drive significant changes in the way they are managing females in their workforces.

and host local market seminars enabling large and medium sized enterprises to create HR strategies geared towards keeping senior female managers on the path to the board.

At this initial stage, the Eu should focus on executive boardroom membership in order to effect real change at the leadership level. Increasing the number of females in non-executive positions should also be an objective, creating a supportive infrastructure to address the issue of board diversity. Clearly engineering these needed changes will take a concerted effort by both government and business, but

“There is a gender imbalance on boards because we have been relying only on self-regulation rather than a meaningful collaborative approach to achieve change.”One key area which needs addressing is how businesses tackle the “talent gap” to create a sustainable flow of female senior leadership candidates.

The structural and operational changes needed to address gender equality in the workplace should be clearly explained to business. In my response to the consultation, I proposed the formation of an industry task force of HR practitioners and consultants to outline which HR and management processes are required to address the issue of nurturing senior female leadership candidates. The task force would subsequently publish best practice guidelines

the discussion needs to focus on how much change and how soon.

I recommend an objective that all Eu boards be 30% female by the end of 2015. This will be a significant achievement and will provide a firm base for further “organic” change. This should be a binding target with clear objectives and accountability supported by appropriate incentives and penalties to help drive the actions and behaviours needed to transform our boardrooms.

I have no doubt that these changes will herald boards which are stronger, with greater capabilities and vision than we have today.

Women in Business Women in Business


Women in the boardroomLady Barbara Thomas Judge CBE in conversation with Anne-Marie Martin

As Chairman of the uK Atomic Energy Authority I realised that every society is worried about energy security, energy independence and climate change. A nuclear power plant can address all these concerns. It can supply as much energy a country needs, which would solve the security problems.

If you build a nuclear power plant in your own country, the energy would not have to travel half way around the world to get to you and be subject to numerous risks along the way. This would address the problem of independence. In addition, as we all know, nuclear is a low carbon form of energy – very sustainable.

I believe that in the future we will need to have a mix of energy sources. We cannot rely purely on renewables, because sunshine and wind are only top-up energy. They are not consistent, and they cannot be stored or transported, which means remaking the grid – an expensive, long-term proposition.

The mission of the Pension Protection Fund is to protect pensioners from the problems caused by their pension scheme not being able to deliver on the promises made to them over

many years if unfortunately their companies go bankrupt or otherwise cannot pay.

We are protecting pensions by collecting a levy, like an insurance premium, from all the defined benefit plans in the country, and pooling these payments into a well-run, conservatively invested fund. If any company finds itself in trouble and unable to meet its obligations, we will, in general, fund up to 90% of what beneficiaries expect. Our aim is to ensure that pensioners should be able to sleep at night knowing their futures are protected.

What is your vision for women in business, particularly in positions of leadership?my vision for women is that they can have the opportunity to achieve success in executive positions in business, with a profit and loss responsibility, in a “line” job with real financial responsibilities.

There is much discussion about women as non-executive directors. This misses the point about women in executive positions! non-executive directorships are most often retirement roles,

Lady Judge has been a lawyer, a senior executive, a regulator, a chairman and a non-executive director in her varied, international career. She is also a mother. Anne-Marie Martin, Executive Director COBCOE, asked her about her many roles and how to redress the gender imbalance in the boardroom.

Anne-Marie Martin: Two of your greatest passions are nuclear power and the protection of employees’ pensions. Why are they so important to you and how are they connected?Lady Judge: Both issues are about creating a sustainable future for our parents, our children and ourselves. my two missions are to ensure that people have enough energy, and to help pensioners. Both are long term issues and very important for society in general.

We need nuclear power for our society to grow in a sustainable way. We also need to protect people, who have spent their working lives putting money into pension schemes and loose it, if, for some reason not of their own doing, their employer goes bankrupt.



“Don’t thank me, help another woman”Lady Judge says that the biggest break in her career came about through a woman and also by example and support from her own mother.

Barbara Thomas (as she was then known) travelled to China on a group tour with her husband after becoming a partner at her American law firm. On the trip she befriended an older lady who was travelling alone.

Several months later, Lady Judge’s colleagues received a surprise call from the White House: she had been short-listed as a commissioner for the Securities and Exchange Commission (SEC).

While searching for a senior female securities lawyer (only six were partners in major uS firms at the time), the President’s office had contacted the most senior female broker on Wall Street. This was the woman that Lady Judge had befriended on the trip, and who highly recommended her.

So now if a woman thanks Lady Judge for her help, her response is always: “Don’t thank me, help another woman.”

“Equality should be important in society. The fact is that 50% of the brains in the world are in 100% of

the world’s women! ”markets to let foreigners raise capital in the u.S.

I also wrote articles about the need for international accounting standards, so that investors could operate in Tokyo, new York or London and expect consistency in financial statements.

One of my articles entitled “Thoughts While Shaving” was about how American men would one day listen to the radio while shaving to hear what had happened on the stock exchange in Tokyo and what was happening on the stock exchange in London, and then go to work and check on their own foreign stocks as well as their uS stocks. The short article amazingly generated hate mail! “Stick to your knitting!” said one letter. “This is America. We have plenty of our own stocks here.”

I believed that investors should buy foreign stocks as a hedge against their own economies and that international investing was the future and we should embrace it.

You took on some challenging roles around the time your son was born in the early 1980s. How did you manage it all?I delayed getting married until I became a partner in my firm. I was 36 when I had my son, which was considered late in those days.

As it happened, I was scheduled to give a speech to 2,100 brokers 12 days after the due

date, and following the birth of my healthy son, with the help of my mother, my husband and my doctor, I gave my speech as planned in my jeans, on a ranch.

The point is that you need good help and support, and above all you need a husband or partner who doesn’t object to you following your own career path and who supports your ambitions. If you have good support, you can manage it all, but if not, it can be very difficult.

What is your view on government measures to encourage more equality and greater diversity in the workplace, boardroom or home? I used to think that we didn’t need positive discrimination, but my thinking has evolved over the years because actually things haven’t changed much since I was young. I now think that if you don’t give the ball a kick, it won’t roll in the right direction.

What helped to change my mind was sitting on the board of a norwegian company. I knew they were looking for an experienced international director but it never crossed my mind that it had anything to do with quotas. Later I realised that one of the prerequisites for the job was being a woman, but it never bothered me.

I believe that you should take the right job no matter how it is offered, and once on the board, it is your duty to use the opportunity

most of which, you undertake after you have had and executive career.

I want women in the executive pipeline, getting training and the necessary experience to become CEOs. Women need roles where they are responsible for making business decisions or producing a product rather than staff roles in HR and strategy. Real equality will only come when a mediocre woman can have a job just like a mediocre man!

Did you feel pressure being the youngest person and one of the first women to be appointed as a member of US Securities and Exchange CommissionThe pressure was about being young rather than being a woman. I wanted to do something important – not because I was pressured to, but because I had the opportunity. my personal mission was to develop the idea of internationalisation of the securities markets in order to facilitate the international trading of stocks as well as to promote international accounting standards to go with such investing.

While I was at the SEC I was instrumental in founding the international division and had a leading role in opening the Tokyo Stock Exchange up to foreign members. I also wrote numerous articles about how it was in America’s economic interest to open its capital




to make a difference. men get appointed to Boards for non-business reasons all the time. The responsibility of a woman who sits on a Board, however, is to open the door to another woman. I now believe that we do need positive discrimination because if we do not do something positive, nothing will change.

I became a partner in my law firm in 1978 and today there are still not enough women partners in big law firms. When I was young there were no quotas, but there was government pressure to give women opportunities. In every generation, you need someone to open the door so you can walk through it.

Can flexible working allow women to be as active as men in their professions once children come along or ageing parents need care?I believe that both technology and flexible working arrangements make it possible to have a real job and still care for children or ageing parents, but it is not easy. Still, if you are motivated it does not matter so much where or when the job is done, so long as it gets done well.

The point is that women should be able to do the same jobs as men – both men and women often work from home these days. Everyone should be able to work, no matter where, and if it helps women to be available 100% of the time, then all the better. It matters that you get the job done and to a high standard, not where it is carried out.

Do you think technological advances and greater use of the home office a) reduce travel time and therefore pollution, and b) make the work-life balance easier to achieve?Flexibility at work is of course important. I do not think however that all technological innovations are beneficial; managing emails is very time consuming and expectations are that one must respond immediately. Instant access doesn’t necessarily reduce the workload; in fact it can increase it.

I am not a believer that new technology is the

Lady Judge CBE: a brief biographyA new Yorker by birth, Lady Judge studied law and was among the first women to become a partner in a uS law firm. Key appointments include:• theyoungestevercommissionerappointedtotheUSSecuritiesand Exchange Commission, 1980

• first woman non-executive director of Samuel montagu and news International, among others

• first woman member of the Board of Overseers, Wharton School of • Finance and currently a member of its Executive Board for Europe, the middle East and Africa.

• Chairman of the uK Atomic Energy Authority (uKAEA), 2004 -2010

• Chairman of the Pension Protection Fund in the uK, 2010

• Business Ambassador for the uK, 2010

“We all need a champion. mine was my mother and she was encouraged me to have a serious career as well as a family.

I grew up believing that women should work. my mother recently retired as an Associate Dean of new York Institute of Technology at the age of 87.

In the 1950s, she introduced a course at new York university called The World of Work for Women. She taught that being single, divorced or poor were not the only reasons to work, but because women have brains and should use them and should be able to enjoy the independence and freedom that a job and income bring.

my mother was considered so strange back then that she appeared on the uS panel game show called To Tell the Truth on which celebrities would try to identify a contestant with an unusual occupation. Hers was teaching women to go to work despite not necessarily having to. After her was the snake charmer!

When I was young and wanting to be an actress, my mother said “clearly we are not having any starving actresses in this family”. “If you want to act, you can act in front of a jury.” So I became a lawyer, although I have never been in a courtroom

my mother taught me that using your brain and having independence were very important and very satisfying. I continue to believe that work is a privilege and hope to continue for as long as I can.

Lady Judge’s champion

answer to all our problems. Innovation does not always bring improvement. It brings a whole new set of challenges – privacy issues, demands on time, instant reaction to name a few. The trick is to sort out “beneficial” from merely “new”.

Do you think it is easier for today’s women graduates to ‘have it all’?The big question is what does ‘all’ mean? It certainly means different things to different people. Does everyone want to work? Does everyone want to have children? I think it is possible to have what you want, but only if you work hard and are determined, and only if you have support. That is the key.

If ‘having it all’ means a job, partner and children, then yes, it is possible, I believe. There are, however, some women who do not necessarily want all of those things, or in those combinations.

Should equality between the sexes be a benchmark by which a society is judged? Equality should be important in society. The fact is that 50% of the brains in the world are in 100% of the world’s women! We must be culturally sensitive and we must have equality for men and women.

How can women make a difference collectively?We have to look after each other. We have to apply for all the jobs we want or to which we aspire, not just those for which women are considered suitable. We should be ambitious and adventurous. You can learn anything if only you put your mind to it.

There is, however, no substitute for hard work. A very senior General in the British Army once told me: “time spent in reconnaissance is never time wasted.” It is one of my mottos. In addition I strongly believe people should strive to be reliable and to also, always work hard. Furthermore, you should let people know that it matters to you to do well and that you care passionately that you have done well.



Unlocking the potential of the single market

I Ireland takes over the Presidency of the Council of the European union on 1st January 2013, our seventh Presidency

since joining the then European Economic Community 40 years ago. This Presidency represents a significant opportunity, as Ireland steps into a leadership role at a time when the Eu is seeking to emerge from a period of enormous economic challenges. I believe the union can and will emerge as a stronger and more focused economic and political entity and I am looking forward to Ireland making its contribution to what must be a sustainable recovery.

no one can deny that we are living in challenging times. The financial and social implications of the global crisis have been extremely painful for many European citizens. This crisis has starkly demonstrated how interconnected our economies are. But this also means that we can only address our common problems with common solutions. Throughout its history the European union has demonstrated that if we stand together we can overcome even the greatest challenges.

Ireland will seek to use its term in office to concentrate on the issues that really matter to the citizens of Europe. We will make the Irish Presidency a jobs and growth Presidency, by seeking to maximise the as yet untapped potential of the European Single market. The European Single market became a reality on 1st January 1993 and much has been achieved over these past 20 years through the free movement of people, goods, services and capital. However, the truth is that, despite the benefits it has brought to the citizens of Europe, its full potential has yet to be realised.

During the Irish Presidency we will focus on unlocking the potential of this single market and reaping the benefits for the next decades. We will work on the range of proposals from the European Commission aimed at reinvigorating

and deepening the Single market. In particular we will explore how the digital single market can aid a sustainable recovery and give Europe a real competitive edge. We will also seek to promote the Europe 2020 process and strengthen the means to advance the Eu’s research and innovation capabilities during our Presidency.

The measures aimed at recovery that Ireland and other Eu member States are undertaking have been painful. But we will bring our experience to the table to show that restoring confidence in our economy is possible and that collective action at an Eu level, such as the establishment of the European Stability mechanism, is providing Europe with a solid foundation we need for economic recovery.

The multiannual Financial Framework (mFF), which will set the Eu’s budget from 2014-2020 is due to be finalised by the end of this year. Ireland stands ready to take forward whatever actions are necessary to bring the mFF to a successful conclusion.

The mFF is critical to policy areas across the Eu including Horizon 2020, the Eu’s Framework Programme for Research and Innovation as well as initiatives to support SmEs and other policies critical for the economic development of the Eu.

Also under our Presidency, we will manage the European Semester process, which is the new system of economic and budgetary coordination within the European union, as well as coordinating efforts under Europe 2020, the process in which member States advance national reforms. This will contribute to creating more solid foundations for economic recovery.

Our focus in Europe has understandably, and rightly, been on the building blocks for a sustainable recovery. However, recovery itself is not enough; it must be coupled with sustainable growth which will not come from Europe alone. The European union must re-establish its position

on the global stage and focus on the importance of external trade as a driver of sustainable growth.

We live in an economically interdependent world. Ireland will attach great importance to promoting the external trade agenda during our Presidency. Ireland will hold an informal meeting of Trade ministers during the Presidency which signals the priority we attach to trade as a contributor to growth and jobs. Our aim is to support the strengthening of transatlantic trade and investment ties, as well as economic, trade and investment relations with other strategic partners including India, China and Japan.

We want the Eu to become a smart and inclusive economy. This means that we will also place a strong emphasis in other policy areas like education, the green economy and the environment and strengthening Europe’s transport and telecoms infrastructure for the future.

The European union and member State governments cannot achieve all this by themselves. It will take the collective effort of governments, business and civil society. Business groups and chambers of commerce have a key role to play in generating confidence and growth. This is why I was delighted to attend the London launch of the British Irish Chamber of Commerce (BICC) earlier this year. The launch of the BICC was yet another step in further deepening the relationship between Britain and Ireland.

In march, my joint statement with Prime minister David Cameron on British Irish Relations made specific reference to the fact that we are partners in the European union and firm supporters of the Single market. As we both share our 40th anniversary of Eu membership I look forward to working with the British government to encourage an outward-facing Eu, which promotes growth and jobs.

By An Taoiseach, Mr. Enda Kenny TD

Enda Kenny TD was elected as Taoiseach on 9th march 2011. Leader of Fine Gael since June 2002, under his leadership the party won 76 seats in the 2011 general election, becoming the largest party in the Dáil.

Enda Kenny has represented the people of mayo as a Fine Gael member of Dáil Éireann since 1975.

He served as minister for Tourism and Trade from 1994 – 1997, overseeing an unprecedented growth in tourism business and Ireland’s trade position internationally. He has also served as minister for State at the Department of Education, Arts, Heritage, Gaeltacht and the Islands, Western Development, Youth Affairs and Sport.

Country Focus – Ireland Country Focus – Ireland



Enterprising Ireland By Frank Ryan, CEO, Enterprise Ireland

Enterprise Ireland is the Irish Government organisation responsible for the development and growth of Irish enterprises in world markets.

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Frank Ryan is Chief Executive Officer of Enterprise Ireland. He was appointed to his current responsibilities in 2003. He is a member of the Board of Enterprise Ireland, Chairman of the Agency’s Investment Committee and is an ex. offico member of the Board of Forfás. Prior to Frank becoming CEO of Enterprise Ireland he held the position of Executive Director at IDA Ireland responsible for foreign

direct investment into Ireland. He has also worked in the private sector with Irish and multinational computer companies and was based for a period of his career in the united States. Frank is a graduate of Trinity College Dublin, with a m.Sc. in Strategic management, and of the Advanced management Programme at Wharton School, university of Pennsylvania

The close ties between Ireland and the uK are many and varied. At the heart of this deep relationship are trading and

economic links, where the ties between the Irish and uK economies has never been stronger.

Right now, the uK is Ireland’s main trading partner, accounting for 38% of indigenous exports. For British businesses, Ireland is the 5th largest export market, and Britain exports more to Ireland than it does to Brazil, Russia, India and China combined. Ireland was the 4th largest European investor in the uK in 2010, while the uK is, likewise, the 4th largest European investor in Ireland.

Above all else, Enterprise Ireland’s objective is to grow jobs in Irish companies. Export growth provides a sustainable route for companies to grow and create employment here in Ireland. The uK, as the most important market for the vast majority of Irish small to medium sized businesses, is essential to this strategy.

In 2011, Enterprise Ireland client companies achieved a record €15.2bn in exports, exceeding pre-recession record levels and achieving a 12% growth over 2010. These companies spent more than €18bn in the Irish economy and were responsible for 300,000 direct and indirect jobs in every town and region of Ireland.

Their export success, in the uK and other markets, was fundamental to supporting these jobs and wealth generation.

The healthy British and Irish trade relationship is also important in the success of our younger

companies. Britain is overwhelmingly still the market of ‘first resort’ for Irish exporters, even in high-technology sectors.

Irish companies can likewise deliver real benefit and competitive advantage for uK business. The preparations for the London 2012 Olympics are a case in point, where Irish companies secured over €300m in contracts. The 2012 Games project required the highest levels of innovation, quality and competitiveness throughout the supply chain. Irish companies across sectors including construction, electronics, software, architecture and renewable energy won significant business and were very much part of the successful delivery of the games.

The relationship spreads right across the uK markets. Irish companies are active in Scotland (John Paul Construction building dual carriageways), the Isle of man where Valentia Technologies have deployed pre-emergency care software in IOm Ambulances, S3 and partners providing tele-health monitoring services to the Public Health Agency in northern Ireland.

Working together offers tremendous opportunity for both economies and now, more than ever, our economic relationship is one we must invest in and nurture. Prospects for the global economy for 2012 are challenging but our trading and economic relationship with the uK can continue to offer more and more benefits on both sides of that relationship.

For Enterprise Ireland’s part, we’re firmly focused on supporting Irish companies doing

business with the uK. Our Going Global Fund, Internationalisation Fund, Excel at Export Selling and “Get Export Ready” initiatives, are all aimed at providing the right levels of support for early-stage exporters. We also work closely with many of our high potential start-up companies, and other potential exporters, for whom the uK market is a primary target in which to win their first reference site.

At the other end of the spectrum, we run a number of intensive management development programmes aimed at CEOs and senior managers within client companies, many of whom have the uK as their key target export market.

The uK is also a primary market for Enterprise Ireland’s campaign to attract international mobile entrepreneurs to choose Ireland as the location for their next high potential start-up business.

To ensure the British and Irish trading relationship continues to flourish, Enterprise Ireland works closely with a number of networks and bodies including the British Irish Chamber of Commerce as well as the Global Irish network, the Irish Embassy in London, the IDA, Bord Bia and Tourism Ireland on projects of mutual benefit.

most recently, following meetings with his Excellency Dominick Chilcott, The British Ambassador, nick Baird, CEO of uKTI and martin Donnelly, Permanent Secretary of Business, Innovation and Skills, it was agreed to examine mutual areas of interest and cooperation, which I am actively following up on.

The uK is a close and trusted partner of Ireland. now is the time to consolidate relationships through networks such as the British Irish Chamber of Commerce and build alliances, partner in new ventures and exploit opportunities for our mutual benefit.

Working together offers tremendous opportunity for both economies to ensure prosperity for the future. Surely our best days lie ahead, if we work together.


Ireland in the European UnionBy Fergal Naughton, President of the British Irish Chamber of Commerce

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In a speech to the International Institute for European Affairs on 2nd may 2012, the Tánaiste Eamonn Gilmour (Irish Deputy Prime minister) was asked to comment on what had happened

to Ireland since its accession to the then European Economic Community in 1973:

‘The Ireland that left the united Kingdom was a predominantly agricultural region of the British economy, and, by 1973, that was still largely true. 30% of people still worked in agriculture, and the vast bulk of exports still made their way to the uK. The imbalance in our level of per capita income compared to our nearest neighbour had changed little. The promise of the Common market was the opportunity to improve employment opportunities and living standards, by being part of the Common Agricultural Policy, and by building up an industrial base with access to European markets. Over the decades, the advantages that Ireland found in membership of the European Community grew and developed.’

Ireland, more than most European states, has been transformed by our membership of the European union. From being a relatively economically undeveloped nation on the periphery of Europe, beset by a raft of infrastructural, economic and social challenges, to now, in the 21st century, while suffering from the implications of the banking crisis of 2008, one of the major European success stories.

Ireland is a centre for hi-tech manufacturing, software development, the pharmaceutical industry, financial and banking services, agribusiness, the arts and innovation. It is the largest recipient of uS FDI outside of north America, Ireland, through innovative taxation and support to business, has also become the main choice for many European and international headquarters. With Dublin’s excellent airport and its communication links with Europe, the uS and increasingly with the middle East and beyond, it is also becoming a highly attractive alternative to London as a business meeting and conference centre. It is without doubt our continued membership and close integration with the Eu that has allowed us to become the economic hub that we have become.

That is not to downplay the challenges that Ireland continues to face. Ireland has yet to fully return to the international bond market and has been under the supervision of the Troika (ImF, ECB and Eu); however, unlike some other countries facing similar supervision, Ireland has been widely admired for the manner in which it has sought to restore its public finances and to regain the confidence of the markets. Despite significant reduction in public expenditure the economy continues to grow, with growth rates expected to achieve around 0.4% in 2012 - while not spectacular it is line the Europe’s more successful economies. unemployment also remains a significant problem, as does a lack of overall confidence in the business community; however, Irish indigenous companies and many multinationals continue to do well and to expand their exports, both in Europe and beyond. Frank Ryan, the CEO of Enterprise Ireland reports that the companies he supports have shown some double digit growth.

Ireland, uniquely amongst European countries, has also had to ratify changes to its position within the Eu by referendum. The Irish people, despite some reservations, again voted decisively this year to support changes to the Eu Treaty. This continued desire to remain at the centre of Europe and its decision making processes marks Ireland as a country whose future remains firmly within the Eu and the eurozone. Our continued prosperity, stability and our economic well-being is inextricably linked the European union; of note, in a recent poll of 200+ members of the BICC, 97% overwhelmingly supported the view that continued membership of the Eu was central to both our members and Ireland’s future.

We as a chamber fully support Ireland remaining at the centre of Europe; equally, we believe strongly, based on what all our British and Irish members advocate, that both nations’ future economic and business success lies with remaining fully engaged within the European union.

Fergal Naughton is Deputy Chief Executive at his family’s business, Glen Dimplex, with responsibility for operations. Glen Dimplex is the largest electrical heating company in the world, employing 10,000 people with an annual turnover of uS$2 billion. He holds a degree in mechanical and

manufacturing Engineering (Trinity College Dublin, 1998), a masters of Science (Stanford university, 2000) and a masters of Business Administration (Harvard university, 2005). He is a member of the Ireland Council at the university of notre Dame, a Director of Science Gallery International and President of the British Irish Chamber of Commerce. He is a trustee of the naughton Foundation, a charitable organisation which supports worthwhile causes in education.


http://www.icaew.com/en/qualifications-and-programmes/better-qualified


The Irish business Diaspora is by their nature a force for developing British Irish business networks and business

opportunities. The newly created British Irish Chamber of Commerce will also help to further trade between the islands and foster areas where we can collaborate to economic advantage.”

An Taoiseach, mr Enda Kenny T.D. to the 44th Plenary meeting of the British Irish Parliamentary Assembly, Leinster House, monday 14th may 2012

The British Irish Chamber of Commerce, since its foundation, in 2011, has occupied a unique position amongst the business communities across these islands. It represents the economic and commercial interests of Ireland in Britain, Britain in Ireland, and all the points in between. The combined British/Irish ‘economic space’ has been conservatively measured at over €/£35bn per annum (and may be much higher); the uK is Ireland’s 3rd largest export market, and Ireland is the uK’s 5th largest export market; a market that continues to grow despite the current economic climate.

A closer examination of last year’s statistics shows that Ireland exported €12bn worth of goods to Britain. OECD figures shows that Britain imported over £12.76/€14.88bn worth of goods from Ireland, and that £16.37/€19bn worth of goods were exported from Britain to Ireland.

This ‘economic space’ includes energy, manufacturing, services, intellectual capital, tourism, transport, distribution, construction and the food chain, amongst a host of others. Our members are widely represented amongst this group; over 200 companies, with a combined turnover in the region of €36bn and over 54,000 employees throughout Britain and Ireland. We have recruited a broad membership

structure; stretching from large multinational corporations, including many readily recognisable high street names, through to specialists in manufacturing, the energy sector, agribusiness, financial and support services, into smaller, but no less vital companies in the small and medium enterprise sector, including IT specialists, med-Tech groups and cultural organisations, such as the Abbey Theatre, the ulster Orchestra and Wexford Opera.

Helping us to support these groups the chamber also has as its members uKTI, Enterprise Ireland, Invest nI and the Welsh Government amongst others.

Ireland and the uK are also both highly diverse, globally enabled, export driven economies that have much in common. With similar legal systems, attitudes to investment, higher educational systems and workforces that feel equally at home in either environment, many of our member companies have a genuine intra-Islands feel.

Britain and Ireland are interlinked by longstanding historic, cultural, and social ties; ties that have grown stronger as the respect and understanding between the Islands continue to develop. The Chamber is also building on all these links, and has already made a unique contribution to the broader British/Irish community, a contribution that will continue in the coming years.

The chamber believes strongly in co-operation, and as such we are members, on a reciprocal basis with COBCOE, Chambers Ireland, The northern Ireland Chambers of Commerce, the Irish International Business network and the German-Irish Chamber of

Commerce amongst others. Through these relationships we have developed a strong international, national and regional voice, a voice that we aim to further enhance over the coming years.

Looking out over the coming year the chamber will be integral to improving the business and commercial relationships across the Islands. We will be helping to inform the debate on many key areas, be it from the energy sector, taxation issues, helping the jobs agenda or in improving communications across the Islands, the BICC will be there to represent the interests of the business community.

It has been an exciting 1st year, and we look forward to developing the chamber further to support our members’ interests through 2013. Coupled with the Irish Eu Presidency in the first half of 2013 and the continued development of uK/Irish business and economic co-operation means that it will be an excellent opportunity for our chamber to achieve its goal of becoming “the Focal Point for British Irish Business”.

The British Irish Chamber of Commerce - 1 Year On

By Steve Aiken OBE, CEO British Irish Chamber Of Commerce


Steve Aiken was appointed Chief Executive Officer of the British Irish Chamber of Commerce in 2011. As CEO, Steve is responsible for delivering the vision, strategy and development of the Chamber. Steve came from a background of senior uK Government policy making positions including leading the influential Global Strategic Trends group, advising on issues of Climate Change, Energy

Security, Europe and Resource Scarcity amongst others. Previously he also had a career as a nuclear Submarine Captain and has had extensive experience of the Polar regions, South Asia, the middle and Far East. He holds an mPhil in International Relations from the university of Cambridge, a mA from Kings College London, and is completing a Doctorate, again in International Relations, at Cambridge.


British Business Worldwide


Australian partnership

states of Australia including Adelaide, Brisbane, melbourne and Perth.

A strong relationship with the British Consulate and High Commissioner is based on cooperation rather than formal ties, with collaboration on major events such as the Olympic Games opening ceremony screening and visits from uK political figures including Lord Stephen Green, the Trade minister, and Rt. Hon. William Hague mP, the Foreign Secretary.

Introducing the Australian British Chamber of Commerce, a British Business Worldwide partner

Above: The London 2012 opening ceremony screened at 6 am in Sydney, Australia

The ABCC with its head office in Sydney has operated in Australia for over a century. It supports

trade between Australia and the uK and provides business development opportunities for both its members and the business community in Australia through a range of events.

“We acknowledge and support the work of COBCOE and its creation of global relationships with British chambers around the world” says David Slessar OBE, national chairman of the Australian British Chamber of Commerce. He extends a warm welcome to the leaders and members of COBCOE chambers visiting Australia and wishing to attend events or take part in other activities.

As an independent not-for-profit organisation, the chamber is funded through corporate

sponsorship, event sponsorship and membership fees. Its supporters now number over 11,000, with leading firms from the professional services, financial, resources and other sectors among its corporate sponsors.

The chamber raises around A$750,000 (€623,000) each year and is currently enjoying a period of growth, with income increasing by 10% to 20% for the last five years. This is attributed to restructuring over the period and providing real benefits to its members and target audience. It is now one of the three leading chambers in Australia, expecting to see a further 50% increase in size and reach over the next two years.

The CEO, David mcCredie and his support team are based in Sydney with an additional team in melbourne. The chamber is also represented by regional chairmen in the major

The national chairman of the Australian British Chamber of Commerce since 2003, David Slessar has overseen the chamber’s re-emergence. He is the founder and managing director of The Walford Partnership, a leading executive search firm specialising in partner and senior executive recruitment and mentoring services for professional service firms and institutions in the banking and financial sectors

For more information, please contact David McCredie, CEO, on +61 2 9247 6271 or visit www.britishchamber.com

British Business WorldwideThis global alliance was initiated by COBCOE in 2010 to link British business communities in key markets around the world. It comprises directly or indirectly over seventy British chambers of commerce and through them tens of thousands of businesses globally.

To learn more about BBW, please visit www.britbizworldwide.net


Windowinto Europe

rest of Europe” said Jonathan Brenton, Hm Ambassador to Belgium. “English is widely accepted, and there are quick and easy communications and connections with the uK and mainland Europe.”

The award itself will be backed up by the chamber’s new integrated service offer for companies wanting to enter the Belgian market place. ‘Building Your Business in Belgium’ offers a comprehensive ‘safe landing’ with professional advice, expertise and services to complement existing services to exporters and investors.

“The chamber’s partnership with the uK Government and Belgian agencies is a great example of how business can work with the public sector to provide a better, more joined-up service for businesses” said Glynis Whiting, BCCB President. “What’s more, we are generating significant additional business for existing members, and attracting potential new members.”

The British Chamber of Commerce in Belgium (BCCB) launched the Golden Bridge Awards 2012 to promote exports and investment, while also creating new business opportunities for members. These new awards will recognise the UK businesses that are most successful in exporting to Belgium and will be announced and celebrated at a gala dinner at the Anglo-Belgian Club in London, in November 2012.

The Golden Bridge Awards are open to both manufacturing and service companies to give British products and services a higher profile at the heart of the Eu. They will build on the expert help already provided by uK Trade & Investment for those wishing to build their business in Belgium.

Belgium may not be as well- known as other global markets, but it is the uK’s sixth largest trading partner. Exports to Belgium in 2012 are worth an estimated £12.7 billion (€16.08 bn); more than the value of trade to India and China combined.

“Belgium is an ideal place for the first-time exporter and a great stepping stone to the

New business award promotes exports to Belgium

Above: HMA Jonathan Brenton (left) with winners Laurent Buzon (middle) and Mike Wilderink (right) of Buzon Pedestal International, winners of the SME award 2011

Raising the visibility of British-Bulgarian trade and investment The British Bulgarian Chamber of Commerce (BBCC) has forged close links with UK Trade & Investment. Tim Buisseret, Head of UKTI in Sofia, now sits on the BBCC Board of Directors, while the chamber’s administrative assistant is located in the UKTI office at the British Embassy. This close cooperation has made it possible to raise awareness of British-Bulgarian trade and investment through a series of events and activities with leading figures from government and business.

The chamber welcomed Jonathan Allen, the new British Ambassador to Bulgaria, with a record turnout at a business breakfast in April as part of its support for uKTI.

To mark the BBCC’s recent move from London to Sofia, the new British and Bulgarian Ambassadors supported an event organised in London, in April, which coincided with the

COBCOE annual conference, enabling the chamber’s leadership to benefit from meeting like-minded figures from its colleague chambers in Europe.

“Bulgaria is a small, well-managed economy with all the main fiscal, public borrowing and banking regulatory criteria well within Eu requirements, together with a highly attractive corporate and personal tax regime” said Bill Drysdale, Chairman of the BBCC. With its currency, the Lev, already pegged to the euro, Bulgaria could apply to join the eurozone, but prudence dictates a wait-and-see approach. many trading partners from within the Eu and further afield are committing to substantial investment in the country, most of which stimulates a follow-up stream of exports to Bulgaria and beyond.

mr Drysdale said: “To investors who understand Bulgaria, any criticism about organised crime and corruption such as that in the July 2012 EC monitoring Report is a concern, but not a deterrent. The biggest challenge for the BBCC is getting the British Government and some major potential uK investors to realise what remarkable opportunities exist in Bulgaria.”

Above: Tim Buisseret, Head of UKTI in Sofia

Below: Golden Bridge Awards recognise export success in Belgium

Window into Europe Window into Europe


Changes in investment and export flows have caused the British Chamber of Commerce in the Czech Republic (BCCCR) to realign its services and focus. The chamber plans to become equally relevant to Czech companies exporting to and investing in the UK as it is to its original British members investing in the Czech Republic. “There is no future for the chamber trying to remain a British expat forum,” said Richard Robinson, CEO. “Foreign companies in the Czech Republic now have access to a large number of local professionals, many with overseas experience, to run local and regional operations,” he explained.The number of Czech companies contacting the chamber to find out about exporting to the uK has increased and the chamber also sees British companies choosing the Czech Republic as a market to start their export business.It is paramount for the chamber to build contacts in London with Czech commercial diplomats, uKTI and regional investment agencies. It also plans to provide information and market intelligence about the uK to Czech companies, along with high profile events in the uK including a joint event with its sister chambers in the region.“As a small organisation we recognise that our role is that of an honest broker. The BCCCR will provide independent advice, and refer members and potential members to the best sources of information, advice and support. This creates opportunities for other members and fits in with COBCOE’s First Call initiative” mr Robinson said.

The British chamber in Prague realigns services as investment flows change

“It won the COBCOE award for ‘Best Small Chamber’ earlier this year in recognition of its social events, training programmes, regular briefings, and mentoring programme for women.”

Above: BCCCR builds on its success as winner of the COBCOE ‘Best Small Chamber’ award ealier this year. Left to right, David Crackett, Richard Gooding and Silvia Busniakova

To help Estonia’s innovative technology companies benefit from British marketing know-how, the British-Estonian Chamber of Commerce (BECC) organised a conference in London in May entitled ‘SmartEST in Europe: Opportunities from the Best Performing Economy in the EU’, a programme which took place at the British Foreign Office and at the House of Commons. This was one of several BECC initiatives to promote Estonia’s unique business environment and its technology sector to the wider European market. Working with uKTI, the British Embassy and Enterprise Estonia, the chamber has brought together businesses and financial investors, Estonian entrepreneurs and business leaders. The event benefited from the participation of Skype, one of the best-known technology companies to have originated in Estonia.

Although a small country with a population of just 1.3m, Estonia is one of the most advanced in the use of technology. The Estonian ‘e-government’ system, for example, provides secure access to virtually all government services, enabling the public to pay taxes, set up a business in minutes and vote online.

“The growth of innovation businesses has changed the way that British investors look at the Estonian market,” said James Oates, Chairman of the BECC. “It is clear that the technology sector is set for the fastest growth in the future.”

Above: Gordon Marsden MP and James Oates, BECC Chairman at a conference promoting Estonia’s business environment and technology companies

Estonian technology sector promotes e-business in London

Sir Martin Sorrell meets select group at Consulate-General in Milan

“The chamber is planning to organise similar events in future to widen and strengthen its key members base, so that it can improve the range of services to all members. ”The BCCI’s ability to grow and develop despite the economic crisis was recognised through the COBCOE Chamber Awards in 2010 and 2011.

Sir Martin Sorrell, a leading figure in global communications and advertising, spoke at a business breakfast organised by the British Chamber of Commerce for Italy (BCCI) in May at the British Consulate-General in Milan.

As CEO of WPP, Sir martin heads one of the largest media buying and advertising agency groups in the world. His talk covered culture, politics and economics, followed by a lively questions and answers session. Other special guests included Chris Sainty, Deputy Head of mission from the British Embassy in Rome, Vic Annells, Hm Consul General in milan and Director General for uK Trade and Investment in Italy, together with John Law, BCCI President. massimo Costa and Danilo Tani, CEO and CFO, respectively, of WPP Italy, accompanied Sir martin.



Following the arrival of Sir Peter Ricketts as the new British Ambassador to France in March, ties between the Franco-British Chamber of Commerce & Industry (FBCCI) and UK Trade & Investment strengthened with several events held jointly. One of these was the annual summer garden party at the British Ambassador’s residence with guest speaker, Lord Sebastian Coe, Chairman of the London 2012 Olympic Games Organising Committee, who presented 450 guests with his vision for the games.

The chamber also began a new collaboration with COBCOE to create the European Academy of Business English. This widens the work of the FBCCI Academy to provide business English tests and diplomas to other chambers of commerce within Europe. The Academy will provide the opportunity to improve English language skills through its BEST online product, enabling individuals to pass aspects of the test securely online. The FBCCI has over 110 years’ experience in training services and this, combined with COBCOE’s wide professional and marketing network, will help meet the growing demand for certified business English training in Europe.

The British chamber in Paris develops and rewards success in cross-border trade and investment

“The Academy will provide the opportunity to improve English language skills through its BEST online product, enabling individuals to pass aspects of the test securely online. ”

Above: Lord Sebastian Coe (third from left), Chairman of London 2012, at the Franco-British Chamber’s garden party

A seminar held in Cologne by the British Chamber of Commerce in Germany (BCCG) and the law firm Oppenhoff & Partner demonstrated that compliance continues to be a hot topic for German companies, potentially giving compliant companies major competitive advantages over those that fail to meet regulatory requirements.

Speakers included senior compliance officers from Tata Steel Germany, mAn Diesel & Turbo SE, and General motors. The seminar explored the effects of the uK Bribery Act, draft Eu data protection regulations, parent companies’ liabilities for foreign subsidiaries in establishing effective compliance structures, and Eu anti-terrorism regulations.

The uK Bribery Act has caused some companies to alter their compliance structures, to conduct individual risk analyses, implement guidelines and also set up a whistle-blowing hotline to recognise and avert risks quickly. Grey areas do still exist however such as, ‘facilitation payments’ and corporate hospitality invitations to certain events, which had for example affected the sale of special boxes at the Olympic Games in London.

Seminar finds compliance can give competitive advantages in Germany

In another major development, the chamber has launched a new advice service for SmEs and entrepreneurs. The SmE Group will provide tailored advice for those looking to set up in France, to help them avoid pitfalls and ensure success.

The FBCCI will be celebrating achievement later this year, with the Franco-British Business Awards, organised in cooperation with the Chambre de Commerce Française en Grande-Bretagne. The awards will put the spotlight on key business people by recognising and rewarding success in cross-border trade and investment.

“The UK Bribery Act has caused some companies to alter their compliance structures, to conduct individual risk analyses, implement guidelines ”The event considered the corporate legal structural requirements in relation to liability of parent companies for foreign subsidiaries. Potential cross-border conflicts must be taken into account when implementing a compliance system within a group of companies. The group management board does not have any group-wide rights to change or supplement managerial duties. The impact of Eu anti-terrorism regulation on cross-border trade and trade within the borders of one jurisdiction was also discussed.

The event concluded that good compliance needs to be considered comprehensively and implemented in a structurally consistent manner in order to ensure that it runs alongside day-to-day business operations without requiring a disproportionate amount of extra resources.



business community to whom the benefits of expanding in the uK were presented.

The BCCH also held a St George’s Day event in April, a chamber tradition, and took part in the women’s run in Budapest. The Chamber’s Family Day had an Olympic theme, and the BCCH took part in a marathon relay alongside mr Knott and

2012 has been an important year for the UK, marking both Her Majesty The Queen’s Diamond Jubilee and London hosting the 30th Summer Olympic and Paralympic Games.

After officially welcoming the new British Ambassador to Hungary, Jonathan Knott, the British Chamber of Commerce in Hungary (BCCH) together with the British Embassy in Budapest organised memorable celebrations of these events to showcase Britain’s capabilities and enhance the country’s reputation, which the chamber believes will bring long-term benefits for many years.

The celebrations began with the launch of the Queen Elizabeth Olympic Park Exhibition at the British Embassy in march. These events helped to showcase leading British companies supplying the Games, and attracted members of Hungary’s

Celebrating a great year for Britain in Hungary

Above: St George’s Day celebration in Hungary organised jointly by the BCCH and the British Embassy

Today’s leaders imagine tomorrow in Jerusalem“The task of any leadership” said former United States Secretary of State Henry Kissinger “is to take its people from where it is to where it has never been”. Dr Kissinger was speaking at the two-day conference last June in Jerusalem entitled “Tomorrow”. This unique event, bringing together thousands of business people from around the world, was run under the auspices of the President of the State of Israel, Shimon Peres, who actively participated and spoke at the conference on a number of occasions.There was no shortage of political, business and thought leaders. Former British Prime minister Tony Blair addressed the opening event with nobel Peace Prize laureates President Peres and Dr Kissinger. Ambassadors Stuart Eisenstadt and Denis Ross and former uS envoy Richard Haass reviewed uS foreign policy. John Chambers, Eric Schmidt and maurice Levy, the chairmen of, respectively, Cisco, Google and Publicis, mapped out a future where information grows exponentially leading to a fundamental rethinking of how society deals with information. nobel Prize laureate and Psychology Professor Daniel Kahneman considered why hawks, and not doves, tend to win arguments; and Harvard Professor of Government, michael Sandel, considered the problem of ascribing a financial value to actions which should not be monetised, thereby reducing the scope for debate on the morality of actions.

Professor niall Ferguson, Israeli Central Bank Governor Stanley Fischer and FT associate

editor martin Wolf swapped ideas on the future of Europe. Professor Edward Luttwak, Senior Associate, Center for Strategic and International Studies, Washington gave a mesmerising master class on “Thinking Strategically”, noting that in in any conflict, a successful strategy has a paradoxical logic, deliberately setting out what the opponent does not expect. Dr Jacques Attali, the first head of the European Bank for Reconstruction and Development, looked at microfinance as a tool for democratic transition. It did not stop there. Other areas covered by top experts in their fields included tomorrow’s science and medical advances, the challenges of tomorrow’s management, and the issues of morality and justice we face in the future.

For the first time, thanks to the support of the Israel-Britain Chamber of Commerce, COBCOE was invited to be present at this remarkable event. Anita Leviant, represented, as president, the IBCC and Howard Rosen was there for COBCOE, observing these inspirational leaders taking us to new places.

“The world around us is shifting and turbulent. The human path is paved with dangerous potholes as well as exciting opportunities. modern scientific technology is altering our reality at an overwhelming pace. The global economic crisis still looms, the upheaval stirring the Arab world has reached new heights, and collapsed regimes have left behind question marks on the future emerging before us. When there are wide-scale eruptions and so much uncertainty – the natural human propensity is to pause and postpone decisions “until the dust settles”. But this is a privilege we cannot afford. Therefore we must persist and advance even when the air is suffused with dust. It is precisely during the storm that we must forcefully grab the helm and navigate toward shelter – to ensure that our tomorrow reflects the fruits of our visions and desires, rather than the product of passive uncontrolled coincidence.”- Israeli President Shimon Peres, in his opening address to the fourth “Tomorrow” conference in Jerusalem, June 2012 .

embassy staff to raise money for the Hungarian Paralympic Junior Team.

The celebrations came to a close with a live broadcast of the official opening ceremony of the London Olympics in downtown Budapest.

Left: Shimon Peres with Henry Kissinger

Below: Shimon Peres with Tony Blair and Henry Kissinger



The British chamber in Luxembourg looks at topical issues and member engagement in anniversary year

The highlight of this year’s 20th anniversary celebrations for the British Polish Chamber of Commerce (BPCC) was British Week – five days of varied events which started in late June.

To start the week, the chamber hosted an investment conference that looked at Poland from the perspective of British investors and promoted Britain to Polish companies.

Robin Barnett, the British Ambassador to Poland and Alan Jarman, BPCC Chairman, opened

the conference. Speakers included local CEOs and other senior representatives from PwC, BP Polska, GlaxoSmithKline, WS Atkins Polska and the British Embassy.

Ilona Antoniszyn-Klik, undersecretary of State at the ministry of Economy and Rafał Szajewski, Head of Projects at PAIiIZ, the Polish inward investment agency, represented the Polish Government.

Investors spoke positively about recruiting

and retaining skilled, motivated employees in Polandas management skills were improving and a more professional attitude was emerging. management teams that were formerly expats are now almost exclusively local hires, forming the new middle class on which Poland’s economy depends.

Those present agreed that Poland should not rush to join the eurozone until the crisis subsides, despite the uncertainty for businesses caused by currency fluctuations.

The following four days of British Week were filled with a British Food Day, a nostalgic business breakfast and a British vintage car rally and motor show, among other events. It ended with the Diamond Ball at the British School, Warsaw, sponsored by the BPCC.

Leading brands such as Warburtons (bakers) and Thorntons (chocolates) toured Warsaw shops and delicatessens on British Food Day, before meeting Polish distributors, wholesalers, retailers and BPCC members at the British Embassy.

Jan Krzysztof Bielecki, Poland’s premier two decades ago, was guest of honour at the business breakfast where founding and long-standing members looked back at the chamber’s 20-year history.

Restored classic cars on show at the vintage motor show at Jablonna Palace included Rolls-Royces, a Bentley, Jaguars, mGs, a Lotus, an Austin Healey and an Aston martin. Today’s British motor industry was represented by Jaguar, Land Rover, Lotus, Caterham and Aston martin.

Investment, food and cars feature in Poland’s British Week

Left: Speakers at business forum Skype HQ, Luxembourg: Gilbert Ernst, Banque et Caisse d’Epargne de l’Etat; Vinciane Istace, PwC; Bob Schukai, Thomson Reuters and Daniel Eischen, Interact

The British Chamber of Commerce for Luxembourg (BCCL) was founded 20 years ago – a time when British businesses were pouring into Luxembourg mainly as a result of the burgeoning funds industry. It now has 300 members and serves Luxembourg’s international English-speaking business community, covering a wide range of business issues. Key topics this anniversary year have included human resources, media and technology. Luxembourg’s position as an attractive place to work was debated and discussed at a business forum with speakers from Banque Privée Edmond de Rothschild and Vodafone, among others.

Skype headquarters was the venue for a forum on social and mobile networking. Speakers looked at mobile banking, the expectations of ‘Generation Y’ in the workplace and how to use new media – with advice from one of Luxembourg’s top digital agencies, Interact. Thomson Reuters’ Global Head of mobile Technology, Bob Schukai, who is also an

Ambassador for London’s fast growing Tech City, gave insights into how to use new media.

As part of the chamber’s policy of increasing engagement with its members, the fifth Annual members’ Trade Fair this October will be combined with a forum ‘Your Digital Life’, featuring recorded interviews with BCCL members on their favourite apps and devices, as

well as presentations from leading technology providers.

Greater member engagement and a more bottom-up approach will follow the chamber’s strategic review. These changes, to be implemented in the coming months, include an expanded role for the chamber’s specialist sub-committees and a new website.



With a population of 22 million, extensive infrastructure needs, oil and gas, good English skills and the need for specialist advisers in all fields, Romania is a land of opportunity for investors.

Raymond A Breden, Executive Chairman of the British Romanian Chamber of Commerce (BRCC) is therefore taking every opportunity to spread the word to British businesses, while also supporting members’ businesses.

“Our strategy is simple; we want to be the first point of contact for British investors who are thinking about investing in Romania, so that we can help them” mr Breden explained. “We are in a unique position to help because some of our members are British companies with years of experience in Romania, and in those companies are British nationals who really ‘know the ropes’.”

The BRCC has excellent contacts with uK Trade & Investment (uKTI), both in the uK and in Romania, and with the Romanian government. meetings are frequently

British Romanian chamber is first point of contact in land of opportunity

Above: HE Leonard Orban (left), Romanian Minister of European Affairs and Raymond Breden at a BRCC business breakfast

To underpin British-Slovak relations, the British Chamber of Commerce in the Slovak Republic organised a Diamond Jubilee party in June, offering guests a real taste of Britain in the heart of Bratislava, in a fun and relaxed atmosphere.

The chamber’s AGm saw the election of a new board of directors who will serve for a two-year term. The board plans to strengthen the chamber’s relationship within the British business community and help to develop the business environment in the Slovak Republic. Its strategy aims to build on existing partnerships with companies already established in the Slovak Republic, and with potential investors from Great Britain that are interested in this Central European market.

held with government representatives from both countries and the chamber’s voice is respected. These meetings cover issues that are relevant to British investors.BRCC events provide valuable business information and networking opportunities. Where there is common ground, it works with other organisations such as uKTI and other chambers.

Like other Eu countries, Romania has been hit by the economic crisis. mr Breden believes that although the timing of investments has been affected, the country’s underlying attractions to investors remain unchanged.

“We have to make sure that when potential investors first contact the BRCC they like what they see. Our website is the ‘front door’ and we respond quickly to requests for assistance. As Chairman, I guarantee that you will be welcomed” mr Breden said.

“Its strategy aims to build on existing partnerships with companies already established in the Slovak Republic”

Building relationships in the Slovak Republic

Below: BRCC Summer Party, Bucharest

Above: The BCCS Team - Chris Plant, Board Director; Kristina Kovacsova, Executive Assistant; Jana Pagacova, Board Director; John Barter, Chairman; Erich Hulman & Hugh Owen, Vice-Chairmen; Livia Eperjesiova, Executive Director



New strategy to help members in SloveniaLeft: HMA Andrew Page, with guest speakers and Alderman David Wootton, the Rt. Hon. Lord Mayor of the City of London, address a PwC business breakfast in Slovenia.

Below: HMA Andrew Page, British Ambassador to Slovenia with Janez Benčina. BCCS President

Like other European countries, Slovenia is dealing with the financial crisis. Businesses may be facing a difficult economic environment, but the British Chamber of Commerce in Slovenia (BCCS) is nevertheless working harder than ever to help members under its new president, Janez Benčina.

As part of a new strategy, the BCCS is putting its limited resources behind areas of expertise in which the uK is a global player. The sectors identified as important are the creative industries, energy, financial services, investment banking, consultancy, tourism, pharmaceuticals and medical.

The new strategy is also behind the introduction of debates and business English workshops, providing new opportunities for BCCS members to develop their knowledge of business English as they debate key local and global topics.

This focused approach will allow the BCCS to achieve its stated aim of increasing the transfer of knowledge and business opportunities between the two economies.

This year the chamber organised several successful events, including three in the regions of the country. By developing strong relationships at the regional level and promoting

its services outside of the capital, the BCCS is able to differentiate itself from other chambers in Slovenia.

To promote the City of London and the British vision for European growth, the chamber hosted two business breakfasts; the first focused on opportunities for Slovenia in the City of London with guest speaker, the Rt. Hon. Lord mayor of the City of London, Alderman David Wootton. The second guest speaker was the Rt. Hon. David Lidington mP, uK minister of State for Europe.

The BCCS is also connecting with British chambers of commerce in Italy, Croatia and Serbia.

Swiss seminar finds art and business need each otherThis year’s Art, Business and Money seminar explored the idea that art and business are not mutually exclusive. The annual seminar, now in its fourth year, is organised jointly by the British-Swiss Chamber of Commerce and COBCOE to coincide with Art Basel, one of the largest international art fairs in the world.

moderated by Fiammetta Rocco, Books and Art Editor of The Economist and supported by Swisspartners Investment network AG, the seminar featured a discussion on motives for collecting art. Collectors have acted as patrons and commissioners of art for centuries and therefore play an important role in building and maintaining the relationship between art and finance.

Collecting art is an emotional activity, according to Joel mallin, a private collector and one of the seminar’s panel of experts. Art critic Sarah Thornton highlighted some recent research into the investments of high net worth individuals showing pleasure to be the main motive for buying art, with only 10% of purchases motivated by profit.

The case for public funding for art and its legacy was presented by Sarah Robinson,

Director of Development at the Serpentine Gallery. This popular London gallery has pioneered partnerships with public funding and private philanthropy.

The panel concluded that as the public and private domains grow closer and increasingly borrow from one another, everyone benefits. The seminar also provided ideas for incentives to encourage philanthropy and creative ways to market art.

The 5th COBCOE and BSCC Art, Business & Money event in Basel will take place on 14th June 2013 and will be open to all members of COBCOE chambers.

Photos courtesy of Howard Brundrett

Above: Panellists, organisers and supporters of the Art, Business & Money event 2012

Below: Contemporary art collector, Joel Mallin with Sarah Thornton

http://www.cobcoe.eu/events/14/06/2013/5th-cobcoe-british-swiss-chamber-of-commerce-art-business-money-event-in-basel-2013/


Window into Europe

Above: BCCT chairman Jonathan Beard and Ömer Koc, Vice Chairman of the Board of KOC Holding AS present Ceylan Ece Aydın with the first Buckingham Scholarship for postgraduate studies in the UK

Below: The Queen’s birthday and BCCT 125th anniversary is celebrated in Istanbul

Established in 1887, the British Chamber of Commerce of Turkey (BCCT) is marking its 125th year with a major energy conference and the launch of a UK scholarship.

With Turkey attracting global interest as one of the fastest growing power markets, the BCCT is helping to promote Power Industry Turkey. This international conference organised in September 2012 at the Sheraton Hotel, Istanbul following the chamber’s own energy sector meeting in June.

Power Industry Turkey, explores the issues of government regulations, energy targets, investment in nuclear power, wind, hydro and solar opportunities, the effects of privatising power generation and distribution, identifying investors and best practice strategies. The BCCT’s hosting of ‘1-2-1’ matchmaking meetings at the conference will help British businesses to access new opportunities and partners.

As part of its commitment to corporate social responsibility, the chamber launched a new scholarship for postgraduate study in the uK. Jonathan Beard, BCCT Chairman, hopes that this will serve as a model for enterprises and grow over the years.

The scholarship is funded by an endowment established by both the Turkish Education Foundation and the BCCT, using funds raised at the annual gala dinner. The first beneficiary, a graduate from Galatasaray university, will study marketing at the university of St. Andrews in Scotland.

Turkey’s 125 year-old chamber embarks on new ventures

The Dorset Chamber of Commerce and Industry (DCCI) collaborated with UKTI and several business support organisations to run a ‘British Business Embassy’ during the Olympic Games. With the coastal town of Weymouth under the international spotlight as host to the Olympics sailing events, the aim was to raise awareness of business opportunities in the county.

The British Business Embassy in Dorset ran in tandem with the one in London and was the largest Olympics-related business initiative outside of London. It consisted of five full-day sessions attended by local businesses with either a successful track record in exporting, or the potential to export, alongside prospective partners from business delegations that accompanied the athletes from competing nations.

With speakers and panellists from key sectors, the discussions focused on opportunities in advanced engineering, retail food and drink, renewable energy, the environment, infrastructure, and the creative industries. Delegates also enjoyed a splendid view of the Olympics sailing events from the waterside.

Peter Scott mBE, Chief Executive of DCCI, said: “This initiative helped seal significant business transactions and highlighted Inward Investment opportunities for the county.”

The DCCI also urged local businesses to go for gold in June with the launch of the seventh consecutive Dorset Business Awards. There are categories, providing businesses of all sizes with the opportunity to gain recognition. Entry is open until mid-September and winners will be announced at a gala dinner in november.

Congratulations to Peter Scott who was awarded a MBE for services to international trade and business in Dorset in the Queen’s Birthday Honours

Olympics business embassy launched in Dorset

Above: Sponsors of the Dorset Business Awards 2012

Below: From left to right - DCCI President Michael Regenhardt with the Mayor of Poole, Carol Evans, and Brian Evans at the Dorset Business Awards launch


Directory of COBCOE Members October 2012AlbaniaAlbanian British Chamber of Commerce and IndustryDirector: Silvana XhaferiPetro nini Luarasi” Boulevard no. 85near School of DanceP.O. Box 1547Tirana, AlbaniaTel: +355 42 341010Fax: +355 43 423 44Email: [email protected]: www.abcci.com

ArmeniaArmenian British Business ChamberGeneral Director: Armine Israyelyan nalbandyan Str. 49, # 8Yerevan, Republic of ArmeniaTel: +374 99 42 08 29Email: [email protected]: www.abbc.am

AustriaAustro-British ChamberChairman: Julian WaltonSchwindgasse 5/1/41040 Vienna, AustriaTel: +43 1 404 43 255Fax: +43 1 404 43 92 55Email: [email protected]: www.abchamber.org

AzerbaijanThe British-Azerbaijani Chamber of Commerce & IndustryCEO: Tim WalfordSun House, 6 Chelsea EmbankmentLondon SW3 4LF, united KingdomTel: +44 7899 922 550Email: [email protected]: www.bazcci.com

BelgiumBritish Chamber of Commerce in BelgiumCEO: Glenn VaughanBoulevard Bischoffsheim 11 1000 Brussels, BelgiumTel: + 32 2 540 90 30Fax: +32 2 512 83 63Email: [email protected]: www.britcham.be

BulgariaBritish Bulgarian Chamber of CommerceExecutive Chairman: Bill Drysdalec/o TmF Services EOOD2a, Saborna Street, 4th floor1000 Sofia, BulgariaTel: +359 886 798 015Email: [email protected]: www.bbcc.bg

CroatiaBritish Croatian Chamber of CommerceSecretary: Gordana Hewittmihanoviceva 1Regent hotel Esplanade10000 Zagreb, CroatiaTel: +385 91 895 1653Fax: +385 1 4836 186Email: [email protected]: www.britishchambercroatia.com

Czech RepublicBritish Chamber of Commerce in the Czech RepublicCEO: Richard RobinsonLondynska 506/41120 00 Praha 2, Czech RepublicTel: +420 224 835 161Fax: + 420 224 835 162Email: [email protected]: www.britishchamber.cz

DenmarkBritish Chamber of Commerce in DenmarkExecutive Director: Penny SchmithArne Jacobsens Allé 163rd Floor2300 København S, Denmark Tel: +45 31 18 75 58Fax: +45 33 32 43 70Email: [email protected]: www.bccd.dk

EstoniaBritish-Estonian Chamber of CommerceDirector: Egle Org Ahtri 610151 Tallinn, EstoniaTel: +372 56 622 623Fax: +372 56 611 6954Email: [email protected]: www.becc.ee

FinlandBritish and Commonwealth Chamber of Commerce in FinlandExecutive Chairman: Garry ParkerPeuramäenkuja 5D02750 Espoo, FinlandTel: +358 9 586 3575Email: [email protected]: www.bcccf.fi

Finnish British Trade AssociationSecretary: michael Hardyc/o PricewaterhouseCooper OyPO Box 1015 (Itämerentori 2)00101 Helsinki, FinlandTel: +358 9 2280 14 42Fax : +358 50 346 85 30Email: [email protected]: www.fbta.fi

FranceFranco-British Chamber of Commerce & IndustryExecutive Director : Catherine Le Yaouanc 10, rue de La Bourse75002 Paris, FranceTel: +33 1 53 30 81 32Fax: +33 1 53 30 81 35Email: [email protected]: www.francobritishchamber.com

GermanyBritish Chamber of Commerce in Germanymanaging Director: Andreas meyer-Schwickerath Friedrichstrasse 14010117 Berlin, GermanyTel: +49 30 20 67 080Fax: +49 30 20 67 0829Email: [email protected]: www.bccg.de

GreeceBritish Hellenic Chamber of CommercePresident: Harris Ikonomopoulos25 Vas. Sophias Avenue10674 Athens , GreeceTel: +30 210 721 0361Fax: +30 210 721 2119Email: [email protected]: www.bhcc.gr

HungaryBritish Chamber of Commerce in HungaryExecutive Director: Csilla Csurgai madách Trade Centermadách I. út 13-141075 Budapest, HungaryTel: +36 1 302 5200Fax: +36 1 302 3069Email: [email protected]: www.bcch.com

IcelandBritish-Icelandic Chamber of CommerceDirector: Kristín HjálmtýsdóttirHouse of CommerceKringlan 7103 Reykjavik IcelandTel: +354 510 7100Fax: +354 568 6564Email: [email protected]: www.bicc.is

IrelandBritish Irish Chamber of CommerceCEO: Steve Aiken OBERoyal Dublin Societymerrion Rd, BallsbridgeDublin 4, IrelandTel: +353 1 458 5230Fax: +353 1 459 9512Email: [email protected]: www.britishirishchamber.ie

IsraelIsrael-British Chamber of CommerceCEO: Ronen OfferIndustry House, 29 Hamered St.13th floor, P.O.Box 50321, Tel Aviv 61502, IsraelTel: +972 3 510 9424Fax: +972 3 510 9540Email: [email protected]: www.ibcc.org.il

Isle of Man Isle of Man Chamber of CommerceChief Executive: mike HennessyCapital House, Circular RoadDouglas, Isle of man ImI 1AG, united KingdomTel: +44 1624 674 941Fax: +44 1624 663 367Email: [email protected]: www.iomchamber.org.im

ItalyBritish Chamber of Commerce for ItalySecretary General: Simona FrignaniVia Dante 1220121 milano, ItalyTel: +39 02 87 7798Fax: +39 02 8646 1885Email: [email protected]: www.britchamitaly.com


KosovoBritish Chamber of Commerce KosovoExecutive Chairman: Ray PowerStr Perandori Justinian 6 Pejton Place, 10000 Prishtina, Republic of KosovoTel: +377 45 947 947Email: [email protected]: www.bcck.co.uk

LatviaBritish Chamber of Commerce in LatviaExecutive Director: Ivi BuceBritish Embassy Building5 J. Alunana street1010 Riga, LatviaTel: + 371 67 218 043Email: [email protected]: www.bccl.lv

LithuaniaBritish Chamber of Commerce in LithuaniaExecutive Director: Sandra KundroteDidzioji 501128 Vilnius, LithuaniaTel: +370 5 269 00 62Fax: +370 5 269 01 00Email: [email protected]: www.bccl.lt

LuxembourgThe British Chamber of Commerce for LuxembourgExecutive Director : Sophie Kerschen6 rue Antoine de Saint-Exupéry1432 Luxembourg-Kirchberg , LuxembourgTel: +352 46 54 66Fax: +352 22 03 84Email: [email protected]: www.bcc.lu

Former Yugoslav Republic of MacedoniaBritish Business Group MacedoniaExecutive Chairman: Ray Powermitropolit Teodosij Gologanov 36/1 lok 4-5, 1000 Skopje Former Yugoslav Republic of macedoniaTel: +389 2 3119 127Email: [email protected]: www.bbgm.co.uk

The NetherlandsNetherlands British Chamber of CommerceCEO: michiel van DeursennZ Voorburgwal 328 L1012 RW, Amsterdam, The netherlandsTel: +31 20 421 7040Fax: +31 20 421 7003Email: [email protected]: www.nbcc.co.uk

UK office8 northumberland Avenue London WC2n 5BYunited KingdomTel: +44 (0)3333 440 799

PolandBritish Polish Chamber of Commerce CEO: Joe Tunneyul. nowogrodzka 12/300-511 Warszawa, PolandTel: +48 22 622 20 56 Fax: +48 22 622 20 56Email: [email protected]: www.bpcc.org.pl

UK Office contactVice-Chairman: michael Clay43-45 Portman Square London W1H 6Hnunited KingdomTel: +44 207 969 [email protected]

Romania British Romanian Chamber of CommerceExecutive Chairman: Raymond A Breden8 northumberland Avenue London WC2n 5BY, united Kingdom

Romania OfficeExecutive Director Romania: Agata StefanEtajul 1, Cam 107, IPCT BuildingStr. Tudor Arghezi nr. 21, Sector 2020943 BucurestiBucharest, RomaniaTel: +40 752 003 066Email: [email protected]: www.brcconline.eu

SerbiaBritish-Serbian Chamber of CommerceDirector: Jelena Krzanickic/o Akin Gump Strauss Hauer & Feld8th Floor, Ten Bishop’s SquareLondon E1 6EG, united KingdomTel: +44 7765 775 179Fax: +44 207 504 8568Email: [email protected]: www.britserbcham.eu

Slovak RepublicBritish Chamber of Commerce in the Slovak RepublicExecutive Director: Livia EperjesiovaPaulinyho 8811 02 Bratislava, SlovakiaTel/Fax: +421 2 5292 0371Email: [email protected]: www.britcham.sk

SloveniaBritish Chamber of Commerce in SloveniaSales & marketing Director: Tina KrizanSlovenska cesta 341000 Ljubljana, SloveniaTel: +386 40 131 744Fax: +386 14 701 699Email: [email protected]: www.bccs.si

SpainBritish Chamber of Commerce in Spainnational Director : Eva Pradac/Bruc 21, 1º 4ª08010 Barcelona , SpainTel: +34 93 317 3220Fax: +34 93 302 4896Email: [email protected]: www.britishchamberspain.com

SwedenBritish-Swedish Chamber of CommerceSecretary General: Ingrid BerggrenJakobs Torg 3, 4th floorBox 16050103 21 Stockholm, SwedenTel: +46 8 506 126 17Fax: +46 8 506 126 18Email: [email protected]: www.bscc.info

Switzerland/LiechtensteinBritish-Swiss Chamber of Commercemanaging Director: Carolyn HelblingBellerivestrasse 2098008 Zürich, SwitzerlandTel: +41 43 443 06 84Fax: +41 44 422 32 44Email: [email protected]: www.bscc.co.uk

UK officemanager: George Vassiadis14 new StreetLondon EC2m 4HE, united KingdomTel: +44 207 650 3802Fax: +44 207 650 3987Email: [email protected]

Liechtenstein office:c/o Bryan Jeeves CmG OBEJeeves GroupBahnhofstrasse 7FL 9494 SchaanLiechtensteinTel: +423 236 1460Fax: +423 236 1461

TurkeyThe British Chamber of Commerce in Turkeymanager: Aysim Ardamesrutiyet Caddesi 18Asli Han, Kat 6, GalatasarayIstanbul 34435, TurkeyTel: +90 212 249 0658Fax: +90 212 252 5551Email: [email protected]: www.bcct.org.tr

UkraineBritish-Ukrainian Chamber of CommerceExecutive Chairman: Bate C Toms18/1 Prorizna 5t - Suite 701034 Kyiv, ukraineTel: +380 44 490 6000Fax: +380 44 278 6508Email: [email protected]: www.bucc.com.ua

United KingdomDorset Chamber of Commerce and IndustryChief Executive: Peter ScottChamber HouseAcorn Office ParkLing Road, Tower ParkPoole, Dorset BH12 4nZ, united KingdomTel: +44 1202 714 800Fax: +44 1202 747 862Email: [email protected]: www.dcci.co.uk

Essex Chambers of CommerceChief Executive: Denise Rossiter8-9 St Peters CourtColchester, Essex CO1 1WD, united KingdomTel: +44 1206 363733Fax: +44 1206 578073Email: [email protected]: www.essexchambers.co.uk

COBCOE sister organisations/ British Business WorldwideAlgerian British Business Council

British American Business

Australian British Chamber of Commerce

British Canadian Chamber of Trade and Commerce

British Business Association of Cambodia

China-Britain Business Council

British Business Group, Dubai & Northern Emirates

British Egyptian Business Association

UK India Business Council

British Chamber of Commerce in Japan

British Chamber of Commerce Korea

British Chambers of Commerce in Latin America

British Chamber of Commerce Thailand

Tunisian British Chamber of Commerce


President David Thomas MBE CEO & Principal Partner, Financier sp z o o, [email protected]

Immediate Past President Chairman, Public Affairs Commission Howard Rosen CBE Principal, Howard Rosen Solicitors, Switzerland [email protected]

Honorary Chairman Bryan Jeeves CMG, OBE Chairman, Jeeves Group of Companies [email protected]

Vice President David Crackett Consultant [email protected]

Treasurer Michael Humphreys [email protected]

Executive MembersMariano A. Davies nordic CEO, The International Institute of Written Oxford English, Denmark President, British Chamber of Commerce in Denmark [email protected]

Michel de Fabiani OBE non-Executive Director, BP France, the Rhodia Group and the Vallourec Group, France [email protected]

Carolyn P. Helbling managing Director, British Swiss Chamber of Commerce [email protected]

Andreas Meyer-Schwickerath Director and member of the Board, British Chamber of Commerce in Germany [email protected]

Gergely Mikola Director of Corporate and Regulatory Affairs for Hungary and Austria, British American Tobacco, Chairman, British Chamber of Commerce in Hungary [email protected]

Ray Power Chairman, British Chamber of Commerce in Kosovo and British Business Group in FYR macedonia [email protected]

Glenn Vaughan Executive Director, British Chamber of Commerce in Belgium [email protected]

Honorary Counsel Gitta Altmann Partner, Pritchard Englefield [email protected]

Management Team

Executive Director Anne-Marie N. Martin [email protected]

PR & Marketing Manager Jelena Krzanicki [email protected]

COBCOE Executive

Be part of the COBCOE Chambers’ networkCOBCOE member Chambers provide active support for their members’ interests.

Join a COBCOE Chamber of Commerce today!To find out more about COBCOE Chambers

in Europe visit www.cobcoe.eu

For instant access to a large pool of potential clients and expertise, a business, social and educational networking platform, access to Government officials, an opportunity for information transfer and

exchange, access to business and market research services and an extensive range of marketing tools available through the varied publications, online facilities, advertising, speaking and sponsorship

opportunities and access to all the business opportunities, facilities and benefits of being a member of a Chamber of Commerce which is part of the dynamic business organisation which is COBCOE.

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Your partner as international �duciaries and trustees.Our group offers multidisciplinary comprehensive management, legal and accountancy services in all major jurisdictions.

Jeeves Group, Bahnhofstrasse 7, 9494 Schaan, LiechtensteinT + 423 236 14 60, F + 423 236 14 61, [email protected]

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Documents

Women in Business - Essex Chambers of Commerce and ... Links.pdf · Women in Business 19 Breaking the glass ceiling for women on company boards Vivien Reding 20 The time is upon us