Gov Abbott signs Statement of Mutual Cooperation with United Kingdom

SAN ANTONIO (KTSA News) — Texas Governor Greg Abbott is announcing the signing of a Statement of Mutual Cooperation with United Kingdom Secretary of State for Business and Trade Kemi Badenoch while in London.

The signing was announced Wednesday during the Governor’s economic development trip to the United Kingdom. The signing ceremony took place at 10 Downing Street, the historic residence of British prime ministers since 1735.

The purpose of the trip is to expand trade in critical industries and to create new job-creating business investments in Texas.

“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.”

Governor Abbott says the SMC 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.

“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.”

Following the signing, Governor Abbott met with United Kingdom Prime Minister Rishi Sunak. 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.

The United Kingdom leads all nations for the number of foreign direct investment projects in Texas, and the Lone Star State 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.