UK & US state of Colorado to pursue MoU on trade

01 Jun '23

1 min read

Pic: @HuddlestonNigel/Twitter

Insights

The UK and the US state of Colorado are set to further strengthen their economic ties with an MoU.
This initiative, announced by Minister Nigel Huddleston MP and Governor Jared Polis, aims to increase transatlantic trade and investment opportunities, particularly for SMEs, by removing market access barriers and promoting shared policy goals.

Minister of state at the department for business and trade, Nigel Huddleston MP, and the governor of Colorado, Jared Polis, have announced the intent to pursue a memorandum of understanding (MoU) to further strengthen trade and economic development ties between the United Kingdom and the US state of Colorado.

The MoU will aim to increase transatlantic trade and investment opportunities for UK and Colorado companies across a variety of sectors, with a focus on bolstering small and medium-sized enterprise (SME) access to both markets; eliminating market access barriers; and advancing shared policy goals, the UK’s department for business and trade said in a media release.

The UK and Colorado already have a strong economic relationship, collaborating on areas of shared importance such as low carbon growth, future technologies, agri-tech and sustainability across a number of sectors. The MoU will aim to build upon and strengthen this existing cooperation through a more formalised economic partnership.

Minister Huddleston and governor Polis expect the MoU to boost trade and investment in one another’s economies, for the benefit of all parts of the UK and Colorado.

Fibre2Fashion News Desk (KD)

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