Dear BABN Chapter and Colleagues,

We are nearly through the first quarter of 2024 and it certainly has not been without plenty of activity in the news cycles. Our collective memberships are all keeping an eye on both upcoming US & UK elections and the impact they will have on companies (our members) operating in the transatlantic business corridor; in addition to the role of AI in business and how to act responsibly; as well as critical themes including infrastructure, energy and geopolitical risk. If any chapters would like some support on putting up content events around these themes, please let me know and I would be happy to speak with you.

MoUs
While we saw a slow down/pause in some M&A and expansion activities towards the end of last year, that has now picked back up and we are fielding inquiries at pace from businesses looking to expand into both the US and UK, and particularly UK business who see more opportunity in the expansive and diverse US market.
This is only buoyed by the state level MoUs that the UK has entered into with a variety of states, with Texas being the most recent agreement. The agreement with Texas is a significant win for businesses as Texas is the 9th largest economy in the world and the second-largest in the US.

To delve into these MoU’s, today, BAB has launched our latest white paper “Creating a Rationale: An analysis of the UK’s MoU initiative with US States” and I encourage you to share this with your members.

The paper compares the eight Memoranda of Understanding the UK has signed so far with US states, offering a comprehensive analysis of these agreements by delving into their structures, objectives, areas and industries of focus, implementation mechanisms and means of cooperation, and progress monitoring. The report underscores the value of these agreements in fostering economic collaboration, while emphasising the need for a clear strategic vision, coordinated implementation, and transparent communication to maximise their long-term economic value. BAB argues that, while quantitative outcomes may take time to materialise, qualitative indicators and strategic integration underline the positive impact of MoUs on transatlantic trade and investment cooperation.

Conference
Lastly, we look forward to convening for our next BAB Network Transatlantic Conference in Charlotte, North Carolina (another fantastic state with an MoU!) in September. If you would like more information or would like to support, please do reach out to Sarah Peeler at: speeler@babccarolinas.com.