The Department of Economic Development has renewed its Memorandum of Understanding (MOU) with Liverpool Vision, cementing the Isle of Man's continued strategic partnership with the North West of England.
The MOU is a signed manifestation of both Liverpool and the Isle of Man's desire to collaborate on projects of joint interest in order to encourage progress toward common economic goals and investments.
Laurence Skelly, Minister for the Department of Economic Development said:
'Strengthening our trade ties away from the shores of the Isle of Man is central to our strategy of attracting inward investment to the Island. Liverpool and the Isle of Man have already achieved a great many things together. This new agreement sets the tone for our continued economic co-operation and re-affirms the close economic relationship between Liverpool and the Isle of Man.'
The new Memorandum of Understanding follows two previous agreements. It will be effective for the next two years and includes provision for Isle of Man participation at the International Festival for Business 2018.
Joe Anderson, Mayor of Liverpool, said:
'The Isle of Man is an important partner for Liverpool, especially with the UK entering a new economic reality post-Brexit. Our city has enjoyed strong links with the Isle of Man, economically and culturally, and its involvement in the two International Festivals for Business we have staged so far have only strengthened that bond.'
Steven Beevers, Head of Special Projects and Country Strategy at the Department of Economic Development also commented:
'Reaffirming our relationship with Liverpool is important for the Isle of Man's future. Liverpool is one of the Northern Powerhouse cities and has enjoyed considerable investment in recent years. This MOU recognises our shared objectives and that as close neighbours in the British Isles there is a tremendous amount we have to offer one another. This year alone, Liverpool and the Isle of Man have worked collaboratively on the International Festival for Business 2016 and to attract new trade from China.'