North Carolina and United Kingdom sign agreement to strengthen economic ties
RALEIGH: North Carolina Governor Roy Cooper and United Kingdom of Great Britain and Northern Ireland Minister for International Trade Penny Mordaunt have signed a Memorandum of Understanding on Cooperation and Trade Relations to strengthen economic ties and transition to a clean energy economy.
“With this memorandum, we will deepen economic and cultural ties with the United Kingdom to create new opportunities for trade and economic development as we transition to a clean energy economy,” said Governor Roy Cooper. “This collaboration reflects our commitment to tackling climate change, deploying clean energy technologies, creating jobs and promoting environmental justice.”
“Our state-level work shows we can be dynamic and creative with our trade partners. Whilst we continue engaging with Washington D.C., we’re speaking to businesses and political leaders right across America – from North Carolina to California – to grow our already £200bn trade relationship,” Penny Mordaunt, Minister of State for International Trade said. “North Carolina is home to some of the US’ most exciting companies – from Honeywell to Labcorp – and was recently named America’s top state for business. Our twin-track approach to trade with the US is helping cut bureaucracy, reduce costs and increase exports and investment, and I look forward to seeing UK businesses reap the benefits. The UK is continuing to seek out ways to remove barriers to trade at a statelevel as part of a wider US trade strategy. We plan to sign additional agreements with Oklahoma and South Carolina in the coming months, with even more in the pipeline. The UK has also delivered major trade breakthroughs at the federal level. This includes removing restrictions preventing high-quality Welsh lamb and Scottish beef from being sold in the US and resolving the Section 232 tariff dispute, resulting in the removal of 25% tariffs on British steel, a huge win for UK steelmakers.”
“On behalf of our network of chapters and members across the UK and USA, British American Business is pleased to see the signing of a Memorandum of Understanding on trade and investment between the United Kingdom and the state of North Carolina,” Duncan Edwards CEO British American Business said. “The UK and USA have an outstanding trade and investment relationship but there is always more that can be done to make it better. Agreements such as this are helpful in creating ways for businesses from both markets to fully understand the opportunities available to them as they plan their expansion across the Atlantic.”
“This agreement recognizes our longstanding relationship with the United Kingdom,” said North Carolina Commerce Secretary Machelle Baker Sanders. “It further underscores and aligns our shared commitment to advancing economic opportunities within the clean energy industry, including offshore wind.”
North Carolina and the United Kingdom aim to achieve net-zero greenhouse gas emissions as soon as possible, accelerate the development of clean energy industries, increase economic opportunities for citizens and residents, promote equity and environmental justice, and prioritize opportunities in government procurement processes.
To reach these goals, North Carolina and the United Kingdom intend to share information and best practices, conduct missions with government officials, facilitate partnerships among private-sector companies, connect institutions of higher education, collaborate on events, and explore opportunities to increase investment in key sectors.
The Memorandum of Understanding (MOU) will be implemented through a working group with participants from North Carolina and the United Kingdom.
This morning, North Carolina Secretary of Commerce Machelle Baker Sanders presented the MOU from the Governor to United Kingdom of Great Britain and Northern Ireland Secretary for International Trade in a signing ceremony in London. While in London, Secretary Sanders also has represented the State at the Farnborough International Airshow and various economic development meetings.