The agreement, secured during Scotland’s Trade Mission to New York as part of the Tartan Week celebrations, is a significant reminder of the importance of economic partnerships for both nations.

It 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 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.

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.

The key objectives of this MOU are to:

• Enhance bilateral trade and investment between Scotland and the United States.
• Support business growth by facilitating market entry and expansion opportunities for companies in both regions.
• Strengthen economic cooperation through joint initiatives, events, and strategic partnerships.

Charandeep Singh BEM, deputy chief executive of the Scottish Chambers of Commerce, highlighted the significance of the agreement: “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.”

Mr Singh added: “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, emphasised the benefits of stronger chamber-to-chamber cooperation: “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.”

The MOU signing takes place during SCC Network’s multi-sector trade mission to New York, which has brought together Scottish companies from industries including food and drink, technology, creative industries, and AI. It also coincides with Tartan Week, a celebration of Scotland’s enduring relationship with the United States.