IN global economic terms I can’t remember when there have been two such significant speeches in the space of a week.

The inauguration of President Trump and what he plans for his presidency will have impact around the world and nearer to home Theresa May’s speech on Brexit has ramifications for everyone in business.

In terms of the trading position with the US, Ted Malloch who is the likely US ambassador to the EU, said Britain was at the front of the queue for a trade deal.

This is not as clear cut as it could have appeared as a couple days later the President himself dodged the question when he was interviewed by Michael Gove.

There is some concern that a lot of the talk and media spin that is coming from his future decisions is being overplayed and creating false hope.

I hope a potential trade deal with the US will be expedited in a way that brings benefits to both countries.

Many of our members have strong trading links with the US and it continues to be a valuable market for North-East businesses.

Whatever the political climate, we must maintain this relationship.

Future trading conditions were also the backbone of Theresa May’s speech about exiting the EU and are just as important.

We have known for some time that remaining a member of the single market, and the Government’s commitment to restricting free movement, would be incompatible.

In light of this, the Prime Minister’s speech certainly touched on some of the issues concerning our businesses, but ultimately she will be judged on the outcome of the negotiations, rather than the content of that speech.

It is imperative we continue to be a global North-East.

Our firms need un-bureaucratic and low cost access to the European market, support to grow their international presence and a migration system that allows our region to retain and compete for highly-skilled overseas talent.

However, we welcome Theresa May’s commitment to provide certainty to businesses as soon as she can.

For example, we need to know what is going to happen to EU Structural Funds (ERDF,ESF) and need guarantees over international student places as it is a key revenue stream for our universities.

James Ramsbotham is chief executive at the North East England Chamber of Commerce