UK and Texas sign a trade pact to boost investment and trade cooperation.
- Texas is the largest and eighth US state to conclude a trade pact with the UK, bringing the combined GDP to £5.3 trillion – a quarter of US GDP
- Statement of Mutual Cooperation will strengthen trade between the UK and Texas
- Pact will benefit key sectors including energy, life sciences, and professional services
The UK will today [Wednesday 13 March] sign a trade pact with Texas to boost trade and investment ties between the UK and Texas, as Business and Trade Secretary Kemi Badenoch welcomes Texas Governor Greg Abbott to London.
Texas has the second largest US state economy, with a GDP of £1.9 trillion in 2022 – larger than Italy and Canada, making this the UK’s most economically significant trade pact with a US state to date.
The pact aims to help make it quicker, easier, and cheaper for UK and Texas firms to do business by tackling trade barriers, growing investment, and driving commerce between the UK and Texas.
