18.02.08 UK-US SPECIAL RELATIONSHIP EXTENDS TO BUSINESS LINKS

The "special relationship" between the UK and the US represents alliances not only of a political nature, but also trading relationships.

This is the view of Mark Anderson, managing director of UHY Advisors in Houston Texas.  The American accountancy practice has grown substantially on the back of oil related businesses.  This connection extends from Houston to Aberdeen.  Mr Anderson said: "Intial business relationships in the energy sector between Houston, and Aberdeen have led to a ripple effect on commerce that has spread to other industries since the 1970's.

There have been fears expressed that, as UK and US oil and gas reserves are depleted, this will give Aberdeen and indeed Houston a limited shelf life.  But in Mr Anderson's opinion, this is wrong.  He said: "There is now, in Aberdeen, indigenous oil and gas expertise which is already being exported all over the world, and many of the leaders and highly skilled operatives in the industry are now resident in Aberdeen".

This bodes well for the economic future of the north-east.  UHY has partnered with chartered accountants Campbell Dallas in Aberdeen to provide on-the-ground support to oil-related businesses, either US-owned and/or with US interests.

Ian Williams, chairman of Campbell Dallas, said "This provides a seamless world-class accountancy and assurance product between the two oil capitals and Campbell Dallas is proud to be associated".  He is convinced that oil has "greased the skids" for trade in many other sectors, notably financial intermediation, with bankers, lawyers, accountants and like following the money to Aberdeen.

Mr Anderson added: "I have seen some of our largest clients in the energy sector follow the majors, and they, in turn, are followed by other ancillary providers.

"With a common language, an established business beachhead, communications technology advancements and the influence of globalisation, the bonds between Houston and Aberdeen will only continue to flourish".

Publication: The Press & Journal
Date: 18th February 2008