UK Chancellor seeks to bolster non-EU fintech and trade ties with international trips

Philip Hammond, the current Chancellor of the Exchequer, seeks to bolster the UK’s fintech and trade ties with a series of international visits, starting today with South Africa.

Besides South Africa, Hammond plans to visit Japan and South Korea to hold talks with finance ministers, senior leaders and businesses to provide support to key industries for the UK economy such as financial services.

“As we leave the EU, Britain’s future prosperity depends on maintaining the strongest possible economic links with our European neighbours, while building on the already strong economic partnerships we have with the world beyond Europe”, the Chancellor said. “In the course of these visits I’ll be discussing how the UK can deepen its economic and investment ties with these countries and make the most of the opportunities that lie ahead.”

The trip to South Africa includes meetings at the Johannesburg Stock Exchange, followed by a roundtable with individuals from major South African business sectors. Hammond will also meet FinTech start-ups, inward investors to the UK and attend the South Africa Youth reception in partnership with the Tutu Foundation and the Mandela Rhodes Foundation.

In Japan, he will meet with the CEO of Softbank, which recently announced their purchase of ARM holdings, the largest ever Asian investment into the UK as well as take part in bilateral meetings with the Bank of Japan’s Governor Kuroda and Finance Minister Aso. He will also host a roundtable with key financial services representatives and meet Japanese Investors.

The programme in South Korea will revolve around bilateral meetings with ministers and the Bank of Korea’s Governor Lee, the statement said.