The United Kingdom and Florida have entered into a Memorandum of Understanding (MOU) to enhance and broaden their collaboration in business

16 Nov, 2023

The United Kingdom and Florida have entered into a Memorandum of Understanding (MOU) to enhance and broaden their collaboration in business

Florida Governor Ron DeSantis and UK Secretary of State for Business and Trade Kemi Badenoch have formally signed a Memorandum of Understanding (MOU) aimed at enhancing trade, bilateral investment, and fostering business ties between Florida and the UK. The agreement also focuses on expanding academic partnerships.

The MOU, as detailed in the news release from the Governor's office, is designed to broaden trade, promote sustainable growth, enhance economic resilience, safeguard natural resources, attract increased investment, and bolster emerging and innovative industries between the two economic powerhouses.

Governor DeSantis expressed confidence in the economic partnership, emphasizing Florida's status as a national leader in business growth and economic development. He stated, "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, highlighted the significant opportunities for UK firms in Florida's high-tech sector, including space exploration and fintech. The signing reflects the success of the US state-level strategy, providing UK firms with a competitive edge in global markets.

The United Kingdom currently stands as the top foreign investor in Florida, with the state supplying the UK with various products, including aviation and aerospace goods. Additionally, Florida ranks among the top American states for British businesses and tourists.

The MOU outlines priority areas for collaboration, including Space, Fintech (including reinsurance), Medical Technology, Supply Chains and Logistics, Transportation, Infrastructure (including cybersecurity), Legal Services and Law Tech, Agricultural Biotechnology, and Emerging areas like semiconductors and photonics.

To achieve the outlined goals, Florida and the UK will engage in activities such as trade missions, facilitating investment opportunities, and developing partnerships. The collaboration will also extend to academic cooperation, joint projects, and events. The MOU sets the stage for a strengthened economic partnership between the state and the country.