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Hammond to strengthen global FinTech ties with series of international visits

The Chancellor, Philip Hammond, is embarking on a series of international trips today (Wednesday) to help strengthen the UK’s international ties in the wake of Brexit.

Beginning in South Africa, Hammond will then head to South Korea and Japan to convene with finance ministers, businesses and business leaders to support some of the UK’s key industries, with FinTech high on the agenda.

According to the government, the Chancellor’s trip will see him meeting with South African FinTech startups, inward UK investors and attend a roundtable of some of the country’s most prominent business figures.

In Japan he is set to meet up with the Chief Executive Officer of Softbank, which recently purchased UK chipmaker ARM for £24bn in the summer, and attend another roundtable with ‘key’ Japanese investors and financial services representatives.

Meanwhile, bilateral meetings with Japanese and South Korean ministers are also planned, continuing the government’s Brexit charm offensive as it looks to strengthen international ties with non-EU partners.

Ahead of his visits, Hammond commented: “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.

“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 Chancellor’s international excursions come as the Prime Minister, Theresa May visits Gulf Leaders in Bahrain, which is one of the UK’s biggest arms export markets, and follows May’s trade mission to India in November.

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