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Sunday, February 28, 2021

Dallas-Fort Worth area, London reach agreement on trade, investment

While there may be a trade war going on between the U.S. and several other countries at the moment, the Dallas-Fort Worth area and London are mates.

London and representatives of the Dallas-Fort Worth area announced a city-to-city partnership to strengthen trade and investment ties between the two regions. A trade delegation from the Dallas-Fort Worth area, including Fort Worth Mayor Betsy Price and Dallas Mayor Mike Rawlings are currently traveling to London, Paris and Brussels to promote economic development, business opportunities and tourism throughout the DFW region.

With support from the Dallas Regional Chamber, representing Dallas-Fort Worth and the other cities of North Texas, and London & Partners, the agreement intends to link the two economies more closely together and help high growth companies looking to expand from one region to another, according to a news release.

“We’re delighted to have the opportunity to expand our business connections and talent pool through this partnership,” said Price in a statement. “In today’s rapidly changing economy, there’s great strength in sharing opportunities and resources between our cities on an international stage within the technology, innovation, entrepreneurship and startup spaces.”

Following a meeting June 18 in London between London’s Deputy Mayor for Business, Rajesh Agrawal and the Mayors of Dallas and Fort Worth, the two regions have agreed to work together to provide greater assistance to companies looking to scale their operations in each market. Through the partnership, companies will receive support in finding office space, introductions into each ecosystem including advisers, funding sources, accelerator programs and other relevant contacts

The two cities will also connect the innovation scenes through trade missions, signature events and other opportunities over the next several years.

London is Europe’s largest technology hub and a leading global financial centre. The UK capital’s thriving tech sector is home to 47,000 enterprises, contributing 242,000 jobs across the city. The United States is the largest overseas market for foreign direct investment into London over the past 10 years.

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