March 13, 2024

Governor Abbott Signs Statement Of Mutual Cooperation With The United Kingdom

AUSTIN – Governor Greg Abbott today signed a Statement of Mutual Cooperation (SMC) with United Kingdom Secretary of State for Business and Trade Kemi Badenoch while in London on an economic development trip to deepen the strong partnership between the United Kingdom and Texas, encourage expanded trade in critical industries, and attract new job-creating business investments to Texas. The signing ceremony took place at 10 Downing Street, the historic residence of British prime ministers since 1735.

“As our ninth largest trade partner, the United Kingdom plays a critical role in the Texas economic juggernaut,” said Governor Abbott. “Strengthening the bond between Texas and the United Kingdom is crucial for our shared economies to prosper. By signing this Statement of Mutual Cooperation today, we will further promote economic growth on both sides of the Atlantic. Texas is the economic engine of America, where entrepreneurs from around the globe can cast a vision and know they can achieve it. Working with our British partners, we will chart a greater path towards success and opportunity and create an even more robust economic partnership.”

“The United Kingdom and Texas already share $18 billion worth of goods trade last year, and today’s signing brings us even closer,” said Secretary of State Badenoch. “This MoU is designed to make it cheaper and easier for the United Kingdom and Texan businesses to thrive in each other’s markets. It will strengthen trade ties and help us work together on shared expertise like life sciences and professional business services. I want to thank Governor Abbott and his team for helping to make it happen.”

Photos and video of Governor Abbott and the Texas delegation’s visit to London is available here.

The SMC signed by Governor Abbott and Secretary Badenoch will further promote economic growth, support innovation, and encourage job creation in Texas and the United Kingdom. The statement prioritizes collaboration in sectors such as new and emerging innovative energy solutions, including hydrogen, carbon capture, and energy storage; chemicals production; health and life sciences; supply chains and critical minerals; advanced technologies; aerospace; and more.

Following the signing, Governor Abbott met with United Kingdom Prime Minister Rishi Sunak and thanked him for the warm welcome. The Governor and the Prime Minister discussed their commitment to a deepening of the already-strong cultural and economic relationship between the people of Texas and the United Kingdom.

Later at the Foreign, Commonwealth & Development Office, the Governor met with the former Prime Minister, the Right Honorable Lord David Cameron, currently the United Kingdom Secretary of State for Foreign, Commonwealth, and Development Affairs. During their meeting, the Governor and the Foreign Secretary discussed strengthening the unique economic partnership and ways to bolster trade between Texas and the United Kingdom.

Hosted by Secretary Badenoch, the Governor later attended an evening reception with business and government leaders from the UK. Joined by First Lady Cecilia Abbott, Secretary of State Jane Nelson, the Governor’s Economic Development & Tourism Office Executive Director Adriana Cruz, and Texas Economic Development Corporation President & CEO Aaron Demerson, Governor Abbott highlighted several UK companies that have made significant investments in Texas, including BP’s new 187 megawatt solar project, JCB’s new construction equipment manufacturing facility, Linde’s $1.8 billion investment to supply clean hydrogen to OCI’s blue ammonia plant, and BAE Systems new engineering and production facility.

The United Kingdom leads all nations for the number of foreign direct investment projects in Texas, and Texas is No.1 among the states for exports to the United Kingdom. In 2023, Texas trade with the United Kingdom totaled $18.2 billion, making them the state’s ninth-largest total trade partner. In the last decade, companies from the United Kingdom have invested $8.6 billion in capital investment through 326 projects in Texas, creating more than 18,200 Texas jobs.

The trip is sponsored and paid for by the Texas Economic Development Corporation, an independently funded and operated 501(c)(3) nonprofit organization responsible for marketing and promoting Texas as a premier business location. Along with the Governor’s Economic Development & Tourism Office, these two organizations make up the cornerstone of Governor Abbott’s economic development agenda to build a bigger, better Texas.