Governor Jared Polis and British Consul General Richard Hyde signed a Memorandum of Understanding (MOU) on Tuesday, marking a historic agreement to boost trade and investment between Colorado and the United Kingdom. The partnership will focus on clean energy, climate-smart agriculture, quantum technologies, space technology, tourism, and artificial intelligence, according to the governor’s office and OEDIT.

State Sen. Marc Catlin, who visited the U.K. during a successful trade mission in late 2023, emphasized the partnership’s potential benefits for rural communities and the Western Slope. “I am excited to see this relationship develop,” Catlin said via a press release Tuesday. “The benefit of trade to the 5th District and other rural communities adds to our foundation of jobs and tourism on the Western Slope. I am honored to be a part of the agreement.”

Polis welcomed Consul General Hyde to the Colorado State Capitol for the signing ceremony. Following the ceremony, a steering committee will be formed to implement the agreement, focusing on reducing trade barriers and identifying business development opportunities.

“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 and expands good jobs in key economic sectors.”

The agreement builds on an already strong economic relationship between the two regions. In 2023, Colorado exported $214 million in goods to the U.K. while importing $260 million. The U.K. is also Colorado’s largest source of foreign investment, with British companies investing $1.5 billion and creating nearly 19,400 jobs over the past five years. Colorado companies, in turn, invested $1.3 billion in the U.K., creating 3,765 jobs.

Colorado routinely hosts British business delegations interested in sectors such as aerospace, agriculture, and renewable energy. The British Government maintains an office in Denver to facilitate ongoing collaboration.

Eve Lieberman, Executive Director of the Colorado Office of Economic Development and International Trade (OEDIT), said the agreement will enhance opportunities in high-growth industries. “The U.K. is a top economic partner for Colorado. We are thrilled to strengthen this relationship and work together to identify new trade and investment opportunities that benefit Colorado businesses and create jobs.”

The agriculture sector is expected to see benefits through co-manufacturing, research collaborations, and climate-smart initiatives. Colorado Commissioner of Agriculture Kate Greenberg said the partnership will promote shared goals, such as helping small businesses and advancing agricultural innovation.

Clean energy is another focal point of the agreement, aligning with Colorado’s goal of achieving 100% clean energy by 2040 and net-zero emissions by 2050. Will Toor, Executive Director of the Colorado Energy Office, said international cooperation will help drive the affordable adoption of clean energy technologies and address climate change.