Trade boost plans for UK and United Arab Emirates on track
Plans to boost trade between Britain and the UAE are looking positive. With an aim that trade between the two countries will increase to £12bn by 2015, businesses have told ministers from both nations that things are on track.
In its third meeting, the UK-UAE Business Council met in Dubai earlier this month, bringing together business leaders from the UK and UAE. Its purpose is to help further develop commercial links between the two countries.
UK companies are exploring ways into the UAE’s £1.4 trillion construction and infrastructure development programme. They are also interested in the development of its healthcare sector, which will be worth £7.4bn by 2015.
The UAE has already invested over £5bn in the UK’s energy, infrastructure and regeneration sectors throughout the regions.
The UK-UAE Business Council
Launched a year ago in Abu Dhabi, the Business Council is co-chaired by His Excellency Nasser Ahmed Alsowaidi, Chairman of the Abu Dhabi Department of Economic Development and Mr Samir Brikho, CEO of AMEC.
The industry and entrepreneur led Business Council supports the UK and the UAE governments’ commitment to strengthening import-export ties through the Joint Economic Council under the chairmanship of Lord Green of Hurstpierpoint, UK Minister of State for Trade and Investment and His Excellency Sultan al Mansouri, UAE Minister of the Economy.
British business in the Gulf
Lord Green said: “The friendship between Britain and the UAE is very important and our commercial relationship continues to strengthen. The UAE has ambitious development plans, which British business and expertise can make a huge contribution towards and are already helping to realise.
“The UK is committed to making it quicker and easier for British businesses and Gulf states to do business together. Both countries are targeting a 60 per cent increase in trade from 2009 levels, to reach £12bn by 2015. I was delighted to hear about the progress that the Business Council has made in deepening the ties between the UK and the UAE.”
AMEC
Samir Brikho, Co-Chair of the UAE-UK Business Council and Chief Executive of AMEC said: “With each Business Council meeting we are creating deeper relationships and developing broader opportunities for trade and investment between the UAE and the UK. The Prime Minister’s endorsement of the Business Council’s objectives demonstrates the United Kingdom’s commitment at the highest level to the long lasting relationship between our two countries.”
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