In response to the announcement that the British government and the state of South Carolina have signed a Memorandum of Understanding (MoU) on trade and investment, BAB CEO Duncan Edwards said:

“On behalf of our network of chapters and members across the United States (US) and United Kingdom (UK), BritishAmerican Business welcomes the signing of a Memorandum of Understanding between the UK and the state of South Carolina.

“This is the third such agreement to be signed between the UK and individual US states, following earlier agreements with Indiana and North Carolina. While not a replacement for a comprehensive free trade agreement, these MoUs are a positive way to broaden support for US-UK trade and deliver tangible benefits for the many British and American businesses operating across the transatlantic corridor.

“We are pleased to see continuing momentum behind this initiative, particularly with a state such as South Carolina which exports $2.1 billion in goods and $544 million in services to the UK each year. We look forward to continuing to be a partner to the Minister Greg Hands and the Department for International Trade as they engage with other states across the US.”

Read the British government’s announcement here.