THE British economy is forecast by the Bank of England to grow by 3.4% in 2014 and part of this growth will be through increased bi-lateral trade with other countries as well as more inward overseas investment to the UK.

Representing a constituency which is not only an economic powerhouse in the UK but also home to many international companies, as well as British exporting firms, I see my role as doing all I can to help boost exports of Reading-based corporates.

Last month I held a seminar attended by around 100 local business people who received tips from successful Reading-based exporters.

There was a lot of focus on the growth markets in Asia and South America.

But one area we did not cover was trade between the UK and US which is the top destination for British exports; and the US is fourth highest country on our imports list. So UK-US trade really does matter in a big way for our economy.

The US and EU are currently trying to negotiate a deal aimed at increasing bilateral trade by reducing trade barriers.

The value to the British economy of a successful negotiation is estimated at around an extra £10 billion annually. I took part in a parliamentary debate this week on the Transatlantic Trade and Investment Partnership (TTIP). One of its main aims is to remove, where possible, regulatory differences between the EU and US without lowering levels of protection.

This may, for example, mean products no longer having to be tested in both the US and the EU.

Reading is a hub for American businesses, especially in the IT sector, with many large companies such as Cisco, Microsoft, Oracle and Symantec creating thousands of local jobs between them.

By eliminating the large number of small tariffs that currently exist and reducing the complicated network of customs and differing regulations, we will create a big incentive for those companies to increase their investment here and for others to join them.

And there will clearly be benefits from TTIP for not just large but also small and medium-sized British exporting companies, many based in the Thames Valley, and logically lower prices for consumers as a result of cutting the cost of red tape.

Now that’s worth negotiating!