OCO Global expand US operations with senior hires in face of growing demand

In order to support the growth of the business in the US, the company has added six new staff and plan to open a new office in Silicon Valley to further enhance its West Coast business.

The trade and advisory specialists have recently secured new contracts with the states of New York, Delaware, Virginia, and South Carolina. They now provide advice on boosting international trade to 15 out of the 50 US. The international trade consultants, who advise DIT, have said the President elect Biden and his team represents a changing dynamic in US trade policy and one which will bring opportunities, particularly for UK companies seeking to enter the US market, according to OCO Global.

Chief Executive Mark O’Connell, said: “Our business in America has seen consistent growth in the last two years and we see further potential as companies from the UK look across the Atlantic to expand in anticipation of a UK-US trade deal. UK-US trade in goods and services totalled more than £250bn last year, a figure that has grown year on year since 2009. With a prospective US trade deal set to remove barriers on a vast majority of this trade, it is expected that there will be further growth in the coming years as UK companies seek to pivot away from the EU market.

“We would encourage UK firms to target individual states as a starting point to grow their business in the US, many of whom have domestic markets the size of significant G20 economies. The US market as a whole may seem a daunting prospect but entering the market can be much more manageable when broken down at state level.

“The longstanding economic relationship between the UK stretches beyond trade, there is a history of bi-lateral foreign direct investment and the UK over time has been the number one investor in the US with investment stock totalling £500bn.

“UK companies who are seeking to invest the US not only get access to the world’s largest market but are treated as a US company and can enjoy the benefits from this. Foreign-owned businesses can export from the US taking advantage of existing trade agreements UK owned companies in the US export £40bn worth of goods to other international markets such as China, Canada and Mexico.

“The new US president will bring a shift in US trade policy and as a result the scales of global trade will shift once again to bring new opportunities for all in the US market. As the US transitions from President’s Trump trade policy, we are looking forward to new ideas Joe Biden and his trade team will bring to the table.”

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.

You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk

With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Thank you