Dear Members,

Today we are seeing one of the most difficult economic periods in our lifetime. The financial turmoil and the economic downturn and recession are hitting countries, companies, industries and individuals hard. The global world we today are living in is one reason the crisis is hitting us all and nearly at the same time. US, UK and Spain were first but then everything seems to happen at the same time in the rest of the world. Today we see states, continents and organisations working together to solve the financial crisis but also fighting to save industries like their car industries in the US, in Sweden and elsewhere. Last year we talked about competition increasing, today this will be even more emphasized.

Some years we have seen business between Sweden and the UK continuing to grow both in terms of volume and value. This demonstrates an underlying level of stability in the business relations between the two countries. Business between Sweden and the UK has been strong, particularly within but not limited to the financial services industry. London the global capital of the financial services industry and Stockholm working to become the Nordic and Baltic capital of the same industry. The advanced products produced by the financial services industry and the number of people engaged have been almost too big. Ownership has been changing its pattern completely. Lloyds TSB has been to some [50%] and RBS to [58%] nationalized by the UK government. Bank of Scotland has partly been taken over by Lloyds TSB. Enormous changes have taken place.

In this new environment, as risks are increasing, we may hope and look for new opportunities. Financial costs, higher uncertainties on how to do business and with whom as well as climate change will raise many questions and will rapidly change the way we do business. 

We all need to focus and work hard today. To be well informed and well connected to the right networks is more crucial than ever. However still a network and tradition like the one of our Chamber always needs to be upgraded and developed. We have worked to set the vision right of BSCC to become an even stronger platform in Sweden for the development of relations between British and Swedish companies, executives, officials and advisors.

An organisation like ours, the British-Swedish Chamber of Commerce, has an important role to play in keeping up trade and contacts as well as fostering business relations between Sweden and Great Britain. The BSCC will help you develop your business to facilitate business connections, access to local support and services and the BSCC will help you develop and integrate the understanding of relevant commercial topics (including political and economic issues), of relevant cultural topics (including management and commercial culture) as well as providing a platform to build an outstanding commercial and social network in Sweden.

The BSCC aim to work closely with the British Embassy in Stockholm. H E Ambassador Andrew Mitchell, who arrived in the spring 2007, is the Honorary Chairman of the BSCC and we are all very grateful to him and his staff for the generosity and support they give the BSCC and its Members.

Ingrid Berggren was appointed new Secretary General of the BSCC some 20 months ago. Martin Friis joined as assistant to Ingrid during spring 2008. I am confident that Ingrid, together with Martin and the BSCC Board, will continue to increase the activity level as well as continue to develop the BSCC and further strengthen it as the natural meeting point for Anglo-Swedish business relations. 

During 2008 focus has been on the website and to get a totally new site up and running as well as be the format for information and contact with members and potential members. The proof is in your hands. All relevant information on how to do business in Sweden and in the UK can now be found on our website to be more easily found for our members and updated. The economical situation for the chamber is now stable but still with a future focus on costs.

Dear Members, finally I would like to invite you all to contact the Chamber whenever you have a question or a suggestion concerning an issue you want us to put on our agenda and we, the Board and the Secretary General, are here to serve you and we welcome all direct contacts and feedback from you to the Chamber.

Thank you all Members, Patrons and Board for the work, efforts, support, advertising and the participation that you have contributed with. The Members are the core of the British Swedish Chamber of Commerce and we hope you feel like it. We are also happy to welcome more members to our network. This would stimulate our work further and the actions of the Chamber. We also hope for many more contact persons within each membership company in order for everyone to find the right topics for their own interest.

Finally we wish you all a successful 2009

Björn Savén

Chairman