Florida and the United Kingdom agree to expand bilateral trade relations

MIAMI.- Ron DeSantis, Governor of Florida, and Kemi Badenoch, Secretary of State for Business and Trade of the United Kingdom, signed a Memorandum of Understanding to increase bilateral trade and investment between Florida and the United Kingdom.

“Florida is a national leader in business growth and economic development, and the MOU will continue to be signed to ensure our state remains a model of American excellence,” said DeSantis, who is continuing his race to be the Republican Party’s representative in the 2024 presidential election. elections.

For his part, Badenoch pointed out that “Florida is an important economy in its own right, with a GDP higher than most European countries. From launching satellites to developing cutting-edge fintech software, Florida’s leading high-tech companies provide huge opportunities for the UK’s rapidly expanding technology sector.

This memorandum of understanding, signed on Tuesday, November 15 in Jacksonville, comes on the heels of the governor’s international trade offensive in Japan, South Korea, Israel and the UK itself, where DeSantis has signed multiple agreements with various international companies to expand business opportunities in Florida.

The document includes five main goals: increasing trade and bilateral investment, creating a forum to address potential trade barriers, promoting innovation, and developing academic and research relations between the two parties.

The MoU identifies priority areas of interest and cooperation which include:

  • space
  • Financial technology, including reinsurance
  • Medical technology
  • Supply chains and logistics
  • Transfer
  • Infrastructure, including cybersecurity
  • Legal services and legal technology
  • Agricultural biotechnology
  • Emerging fields such as semiconductors and photonics.

The UK is currently the largest foreign investor in Florida and the eighth largest trading partner. British companies account for more than 70,000 jobs in Florida.

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For its part, the Sunshine State supplies the European country with a wide range of products, including aviation and space equipment, and is one of the main destinations for British tourists.

Bilateral trade has reached $5.8 billion and has grown by 119% in the past five years, according to the governor’s office.

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