Britain has struck its fifth trade deal with a US state in the latest Brexit win.<\/p>\n\n\n\n
The Memorandum of Understanding (MoU) with Utah comes as the UK pushes to expand trans-Atlantic trade without a US-wide trade deal.<\/p>\n\n\n\n
International Trade Minister Nigel Huddleston today met Utah Governor Spencer Cox in London to sign the agreement.<\/p>\n\n\n\n
The deal includes fintech, aerospace, supply chain resilience and life sciences as priority sectors.<\/p>\n\n\n\n
Mr Huddleston said: \u201cOur MoU with Utah builds on our existing strong relationship by helping us unlock new opportunities for British businesses, particularly those in the fintech sector in which Britain is a global leader.<\/p>\n\n\n\n
\u201cThe deals we have agreed with US states are already supporting UK businesses to grow their commercial links across the Atlantic.”<\/p>\n\n\n\n
Mr Cox added: \u201cWe have an excellent working relationship with the British Consulate in Los Angeles and our counterparts in the UK.<\/p>\n\n\n\n
“This agreement will lead to more exchange of best practices, government-led missions, private-sector partnerships, academic cooperation and capital investment, and we look forward to the increased collaboration.”<\/p>\n\n\n\n
Utah had a gross domestic product (GDP) of \u00a3201billion in 2022, which is equivalent to the economy of New Zealand.<\/p>\n\n\n\n
The deal with Utah follows state-level pacts with Indiana, North Carolina, South Carolina and Oklahoma.<\/p>\n\n\n\n
The UK is also in negotiations with states including Texas, California, Colorado, and Florida to strengthen trade ties.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
Britain has struck its fifth trade deal with a US state in the latest Brexit win. The Memorandum of Understanding (MoU) with Utah comes as the UK pushes to expand … <\/p>\n