UK and Florida sign MOU to expand business cooperation
Florida Governor Ron DeSantis and UK Secretary of State for Business and Trade Kemi Badenoch have signed a Memorandum of Understanding (MOU) to “increase trade and bilateral investment, strengthen business ties (including reinsurance) and grow academic partnerships between Florida and the UK.”
According to the news release issued by the Governor’s staff, the MOU is set to “expand and strengthen trade, promote sustainable growth, bolster economic resilience by safeguarding natural resources, increase investment, and strengthen emerging and innovative industries between the two economic superpowers.”
Governor Ron DeSantis commented, “Florida is the national leader for business growth and economic development, and today’s MOU signing will continue to ensure our state remains the model for American excellence.
“I am honored to stand today with MP Badenoch to strengthen the economic partnership between our state and the United Kingdom.”
UK Secretary of State for Business and Trade, Kemi Badenoch, MP, said, “Florida is a major economy in its own right, with a bigger GDP than most European countries. From launching satellites to developing the latest fintech software, Florida’s leading high-tech companies offer huge opportunities to the UK’s rapidly expanding tech sector.
“Today’s signing shows our US state-level strategy is working and delivering for UK firms, giving them a competitive edge in some of the most exciting markets in the world and fundamentally helping to grow the UK economy. I want to thank Governor DeSantis and his team for helping to make this MOU happen.”
The Governor’s news release noted that the United Kingdom is currently the top foreign investor in Florida, and that the state supplies the UK with a wide range of products including aviation and aerospace products. Additionally, Florida ranks among the top American states for British businesses and tourists.
The MOU establishes priority areas for focus and co-operation which include Space; Fintech, including reinsurance; Medical Technology; Supply Chains and Logistics; Transportation; Infrastructure, including cybersecurity; Legal Services and Law Tech; Agricultural Biotechnology; and Emerging areas such as semiconductors and photonics.
To achieve the goals set forth in the MOU, Florida and the UK will participate in a variety of activities that will further build the economic partnership between the state and country.
This includes trade missions, facilitating opportunities for public and private investment and partnership development in addition to facilitating academic co-operation and collaborating on joint projects and events.
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