Visit to Canada and the US
At the start of April I visited Canada and the US to promote the United Kingdom's competitive offer to global firms and our welcoming business environment.
I kicked off my visit in Toronto to see how we can strengthen these ties, especially in financial services. The UK is Canada’s third largest trading partner and second largest investor with £41bn of investment.
As the UK seeks to consolidate its vast pension sector to boost domestic investment, I had the pleasure of talking to Canada’s highly successful pension funds to learn lessons for our Mansion House reforms and highlight investment opportunities in the UK.
My first stop in the US was Boston, exploring the asset management industry and promoting co-investment opportunities.
The UK and US are twin pillars of global finance, with nearly $475bn in two-way foreign direct investment.My aim was to further strengthen our deep-rooted financial and professional services ties, unlocking new opportunities and driving growth on both sides of the Atlantic.
The UK attracts the 3rd highest AI investment in the world after the US and China. In Boston, I had the pleasure to tour some of Fidelity Investments’ latest innovations in tech and AI which will transform the way we do financial services.
Then to New York for Tartan Week! As a proud Scot, I was delighted to join the Secretary of State for Scotland, Ian Murray, Investment Minister, Douglas Alexander, and the new Trade Commissioner for North America, Oliver Christian, to celebrate the cultural and economic links between Scotland and the United States.
It was a fantastic opportunity to promote the ‘Global Scottish Investor Summit’ coming up in October, which will bring together significant global investors, UK industry, higher education, and government representatives to showcase major growth sectors - not least our financial and professional services, energy, and life sciences sectors.
New York and London sit at the heart of global finance, each playing a vital role in driving investment and innovation. During my visit I was pleased to engage with major investors, venture capitalists, and private equity leaders to explore new opportunities for collaboration, strengthening the ties that fuel mutual prosperity.
No better way to mark the end of a successful visit to the United States than to march across New York as part of the Tartan Week parade.
