The Scottish Chambers of Commerce (SCC) has signed a landmark Memorandum of Understanding (MOU) with Greater New York Chamber of Commerce to strengthen transatlantic trade.
The deal comes amid growing concerns over the imposition of US tariffs, and cements a long-term collaboration between the two chambers, unlocking new trade and investment opportunities for businesses in both Scotland and the United States.
The agreement was secured during Scotland’s Trade Mission to New York as part of the Tartan Week celebrations.
“The partnership will enhance transatlantic business ties through inward and outward trade missions, networking opportunities, and knowledge exchange, supporting companies looking to expand and thrive in international markets …” said the SCC.
“With the imposition of tariffs on exports to the US, Scottish businesses are battling challenging economic headwinds, and the MoU will help explore trading opportunities and business partnerships.”
Charandeep Singh, Deputy Chief Executive of the Scottish Chambers of Commerce, said: “Scotland and the United States share a deep-rooted economic and cultural relationship, and this MOU is a powerful statement of our commitment to strengthening business links.
“By partnering with the Greater New York Chamber of Commerce, we are creating a bridge for Scottish businesses to access one of the world’s most dynamic markets while welcoming American businesses to explore opportunities in Scotland.
“This agreement is a clear demonstration of the growing strength of the Scotland-USA economic partnership, reinforcing Scotland’s position as a key player in international trade and investment.
“It sends a positive signal to the international community that Scotland is open for business and expanding its horizons.
“The US market remains a top priority for our businesses and we support the UK and Scottish governments continued dialogue and negotiations to strengthen the partnership and find solutions to ease the impact of the proposed new tariffs.”
Mark Jaffe, President & CEO of the Greater New York Chamber of Commerce, said: “New York and Scotland are natural business partners, sharing a spirit of entrepreneurship, innovation, and global ambition. This agreement will open doors for businesses on both sides of the Atlantic, helping them navigate new markets and build lasting connections.
“We look forward to working closely with the Scottish Chambers of Commerce to support businesses in seizing new opportunities and expanding their international reach.”
First Minister John Swinney said: “The signing of this Memorandum of Understanding is a significant achievement that will bring Scottish and US businesses closer together and boost transatlantic trade between our two nations.
“Both the Scottish Chambers of Commerce and the Chambers network are helping to increase business collaboration and extending our international reach in support of our ambitions to secure long term economic growth for Scotland.
“Historically, Scotland and the USA have enjoyed significant cultural, historical and financial links. My government is committed to building upon this and will continue to work with our partners to do so.”