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Colorado, UK hope to strengthen trade, investment with new agreement

Yahoo | 27 January 2025

Colorado, UK hope to strengthen trade, investment with new agreement

by Jacob Factor

DENVER (KDVR) — The State of Colorado and the United Kingdom on Monday signed an agreement to foster cooperation on economic relations, trade and investment between the two regions.

Gov. Jared Polis and British Consul General Richard Hyde signed a memorandum of understanding at the Colorado State Capitol which includes the two governments forming a steering committee to oversee the implementation of the partnership to reduce trade and investment barriers.

“In Colorado we are focused on saving people money and increasing affordability,” Polis said. “Solidifying and strengthening our long-standing relationship with the United Kingdom helps create more pathways for investments into Colorado businesses, expands good jobs in Colorado’s key economic sectors, and establishes a strong and lasting trade partnership with our friends in the U.K..”

According to a release from the state, this agreement highlights several sectors important to both economies: clean energy, climate-smart agriculture, quantum technologies, space technology, tourism and artificial intelligence.

Colorado and the U.K. have already been strong economic drivers of each other. The U.K. is Colorado’s largest source of foreign investment, and the two regions exported more than $200 million in goods to each other.

“This agreement marks a great step forward in our trade relationship with Colorado,” Hyde said. “We’re unlocking investment for businesses, creating new job opportunities and strengthening the bonds of friendship and cooperation between the U.K. and Colorado.”

British companies and Colorado companies invested more than $1.3 billion in capital expenditures in each other’s regions over the past five years, and those British companies provided an estimated 19,400 jobs to Colorado. The Colorado companies have created nearly 4,000 jobs in the U.K.

Colorado also regularly sees British business delegations interested in Colorado businesses in areas such as aerospace, agriculture, quantum technology and renewable energy, and the British government keeps an office in Denver to facilitate trade and investment.


 source: Yahoo