Governor DeSantis Commemorates the 250th Anniversary of The Wealth of Nations and Presides Over Academic Partnership Signing Between Florida International University and Heriot-Watt University During Florida’s International Business Development Mission

EDINBURGH, UNITED KINGDOM—Today, as part of the International Business Development Mission to the United Kingdom, Governor Ron DeSantis commemorated the 250th anniversary of Adam Smith's landmark work, The Wealth of Nations, by presiding over the signing of a Letter of Friendship between Florida International University (FIU) and Heriot-Watt University at Adam Smith's historic Panmure House in Edinburgh. The agreement establishes a framework for academic cooperation that advances the study of free markets, moral philosophy, and political economy while further strengthening the longstanding relationship between Florida and Scotland.  

The partnership builds upon the 2023 Memorandum of Understanding signed by Governor DeSantis and then-U.K. Secretary of State for Business and Trade Kemi Badenoch, which expanded bilateral investment, strengthened commercial relationships, and fostered academic partnerships that continue to promote economic opportunity and innovation on both sides of the Atlantic. 

“In the Free State of Florida, we understand that economic freedom is the foundation of prosperity,” said Governor Ron DeSantis. “Adam Smith was the greatest economic thinker in history, and his timeless principles of free markets, limited government, and individual enterprise remain just as relevant today as they were 250 years ago. I was proud to establish the Adam Smith Center for Economic Freedom at Florida International University to ensure the next generation studies the ideas that have lifted more people out of poverty and created more prosperity than any other economic system. This partnership between FIU and Heriot-Watt University builds on that foundation, strengthens the enduring ties between Florida and Scotland, and prepares students for economic advancement.” 

“United by a shared devotion to the intellectual legacy of Adam Smith, FIU’s Adam Smith Center for Economic Freedom and Heriot-Watt’s Panmure House are natural partners in the tradition of the Scottish Enlightenment,” said FIU President Jeanette Nuñez. “We look forward to formalizing this partnership in the same spirit of inquiry and mutual respect that first brought our two institutions together.” 

“Our commitment to economic freedom, world class education, research, and business-friendly policies proves that Florida is leading on the global stage,” said Secretary of State Cord Byrd. “As we remember the legacy of Adam Smith, this academic partnership will pass these important principles onto the next generation.” 

The signing also reflects the deep historical ties between Scotland and Florida. Long before Florida became the nation's fastest-growing state, Scottish and Scots-Irish settlers helped establish farms, businesses, churches, schools, and communities throughout the American frontier, bringing with them traditions of enterprise, self-government, personal responsibility, and hard work that remain central to Florida's identity today. As the United States commemorates its 250th anniversary, today's agreement recognizes the enduring influence of Scottish thought and the principles of economic liberty that helped shape the American experiment. 

Signed at Panmure House—the final residence of Adam Smith himself—the Letter of Friendship establishes a framework for future collaboration between FIU and Heriot-Watt University centered on the enduring legacy of the Scottish Enlightenment and the continued advancement of economic freedom. The agreement provides for: 
 

• The development of mutual exchanges of faculty and students between Florida International University and Heriot-Watt University in the shared intellectual tradition of Adam Smith and the Scottish Enlightenment; 
   
• The advancement of interdisciplinary scholarship focused on free markets, moral philosophy, and political economy; 
   
• The creation of opportunities for Heriot-Watt scholars to serve as Visiting Fellows at the FIU Adam Smith Center; 
   
• The exploration of joint academic programs, executive education initiatives, collaborative research, publications, public lectures, and other educational opportunities that promote the study of economic freedom and innovation. 

There could be no more fitting way to commemorate the 250th anniversary of The Wealth of Nations than by investing in the next generation of scholars who will carry forward the principles that have expanded opportunity and lifted billions of people out of poverty over the past quarter millennium. 

Florida's own success reflects the enduring relevance of those ideas. Since Governor DeSantis took office in 2019, Florida's economy has grown from just over $1 trillion to nearly $1.9 trillion, making it the world's 14th-largest economy if it were an independent nation. During that same period, Florida has added more than 4.3 million new business formations while maintaining balanced budgets, earning AAA credit ratings from Fitch, S&P, and Moody's, and preserving strong financial reserves. Through low taxes, responsible regulation, strategic infrastructure investments, and a steadfast commitment to free enterprise, Florida has been ranked the nation's #1 economy for two consecutive years by U.S. News & World Report, recognized by Lightcast as the nation's top state for attracting and developing talent, and ranked #1 in Higher Education for ten consecutive years. 

The United Kingdom remains one of Florida's most important international economic partners and its largest international investor. Since 2019, bilateral merchandise trade between Florida and the United Kingdom has grown by more than 20 percent. In 2025, total bilateral merchandise trade exceeded $4.1 billion, with Florida exporting approximately $1.3 billion in Florida-origin goods while importing approximately $2.8 billion in British products. Florida also serves as the United Kingdom's commercial gateway to Latin America, the Caribbean, and the Southeastern United States. 

As Florida and the United Kingdom continue expanding opportunities for trade, investment, and academic collaboration, today's agreement demonstrates a shared commitment to the principles of liberty, free enterprise, and innovation that have strengthened both economies for generations. As America and The Wealth of Nations each mark their 250th anniversaries, Florida is proud to celebrate the enduring ideas that continue to create prosperity and opportunity throughout the world. 

Read more about Day 3 of the mission here.