UK government inks MoU With North Carolina for clean tech and energy

The UK Government's Department for International Trade today (20 July) announced that it has singed a trade and economic Memorandum of Understanding (MoU) with the US state of North Carolina.

Like the MoU signed with Indiana in May, the agreement with North Carolina will look to tackle unnecessary barriers to trade, cut costs and slash paperwork so British and North Carolinian businesses can work together more efficiently.

The MoU aims to boost collaboration in areas such as clean tech and energy infrastructure by enabling both sides to share ideas, skills and knowledge, supporting public and private partnerships and driving capital investment. It will also target trade barriers, increase investment, and enhance business networks in previously underinvested regions to support the UK’s levelling up agenda.

The partnership will seek to accelerate growth in green trade, particularly in electric vehicles and offshore wind.

Minister of State for International Trade, Penny Mordaunt said: "Our state-level work shows we can be dynamic and creative with our trade partners. Whilst we continue engaging with Washington D.C., we’re speaking to businesses and political leaders right across America – from North Carolina to California – to grow our already £200bn trade relationship."

"North Carolina is home to some of the US’ most exciting companies – from Honeywell to Labcorp – and was recently named America’s top state for business.

"Our twin-track approach to trade with the US is helping cut bureaucracy, reduce costs and increase exports and investment, and I look forward to seeing UK businesses reap the benefits."

Duncan Edwards CEO BritishAmerican Business said: "On behalf of our network of chapters and members across the UK and USA, BritishAmerican Business is pleased to see the signing of a Memorandum of Understanding on trade and investment between the United Kingdom and the state of North Carolina."

"The UK and USA have an outstanding trade and investment relationship but there is always more that can be done to make it better.  Agreements such as this are helpful in creating ways for businesses from both markets to fully understand the opportunities available to them as they plan their expansion across the Atlantic."