The U.K. has signed two further memoranda of understanding with U.S. States.
Washington
The UK and the US state of Washington signed a new Memorandum of Understanding (MoU) to boost trade and investment. Washington State is home to major US business including Amazon, Starbucks, Microsoft and Boeing, and has a GDP roughly equivalent to Poland. The MoU marks the sixth delivered as part of the UK’s state-level strategy to boost trade with the US and means that the combined GDP of states the UK has MoUs with now totals £2.2 trillion. The government led a delegation of 35 UK businesses attending the 2023 Boeing Supplier Showcase, handpicked by Boeing to meet with their procurement and supply chain teams. The event showcased the best of the UK’s world leading aerospace industry as it continues to drive innovation through new technology, research and design. Aerospace will be a priority sector under the MoU, which seeks to facilitate more deals between UK and Washington State. Boeing has spent over £12 billion in the UK supply chain since 2015. Its most recent investment, a £80 million composite research facility in Sheffield, will establish new long-term partnerships and supply chains.
Florida
Business and Trade Secretary Kemi Badenoch and Florida Governor Ron DeSantis signed a Memorandum of Understanding (MoU) mid-November to boost trade and investment between the UK and Florida. Florida has a GDP of over £1.1 trillion – the fourth biggest of any US state and roughly the same size as Spain. The MoU is designed to help make it quicker, easier, and cheaper for UK and Florida firms to do business and is targeted at sectors in which the UK and Florida have particular strengths such as space, fintech, AI and legal services. The MoU is the first the UK has signed which focuses on the space sector. Florida is home to the NASA Kennedy Space Center and has world-leading capabilities in launch infrastructure, manufacturing, and satellite development, presenting huge opportunities for the UK’s growing space industry – now with an income worth over £17.5 billion and employing nearly 50,000 people.
The U.K. now has MoUs with 7 US states – Indiana, North Carolina, South Carolina, Oklahoma, Utah, Washington, and Florida – with a combined GDP of £3.3 trillion, just under the GDP of Germany. The UK is also actively engaging with further states including Texas, California, Colorado, and Illinois.
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