Gov. Stitt Finalizes Memorandum Of Understanding With The UK

Gov. Kevin Stitt joined British trade minister Nigel Huddleston Tuesday afternoon at the British Embassy in signing of a Memorandum of Understanding (MoU) to improve economic cooperation and trade between Oklahoma and the United Kingdom.

British Ambassador Dame Karen Pierce, who also participated in the ceremony, credited Governor Stitt for initiating the talks  that led to the agreement.

“Today, with the signing of the MOU,” said Ambassador Pierce, “we set ourselves on an even more ambitious path to being each other’s close trading partners.”

To be clear, Oklahoma and the United Kingdom already share significant economic ties. According to the ambassador, more than 60 British companies have operations in Oklahoma, employing nearly 10,000 people. And last year, Oklahoma exported nearly $350 million in goods and services to the UK.

“Through this MoU,” said Huddleston in an interview following the signing, “we can make this relationship even deeper, and we will.”

The agreement with Oklahoma is the 4th state-level trade deal the UK has inked. Stitt says it’s a first for his administration and, he believes, a big deal.

“There’s a lot of things that can come out of this,” Gov. Stitt Said in an interview, “and just kind of starting this relationship is very, very important.

Technically, the MOU establishes a bilateral trade and economic cooperation board, which will push investment in three priority sectors -- energy transition, zero emission vehicles, and agriculture. The practical impact, says Huddleston, “will be cooperation and discussion, business to business, saying what we can learn from each other, trade delegations, visiting each other’s countries, and looking at what opportunities may be there to invest and also trade.”

Governor Stitt says word is getting out that Oklahoma is a great place to do business.

“I promised Oklahomans I was going to take Oklahoma to the world and bring the world back to Oklahoma,” said Huddleston. “That’s exactly what we’re doing.”

Stitt said the MoU with the UK could just be the first of many such agreements. He says he had breakfast with the German ambassador Tuesday and also had scheduled a meeting with the Japanese ambassador.