Business | Investment
UK minister stresses commitment to Dubai and northern emirates
Bilateral trade in goods and services aims for £12b by 2015
- Staff Report
- Published: 00:00 March 12, 2010
- Lord Davies of Abersoch (2nd from right) with Mohammad Sharaf, DP World CEO, (3rd from right), Mohammad Al Muallem, Senior Vice-President, DP World, UAE Region (extreme left) and other officials during a tour of Jebel Ali Port.
- Image Credit: Supplied picture
Dubai: A top British government official yesterday reiterated his country's commitment to Dubai and the northern emirates — one of its biggest trading partners in the region.
"Dubai is the natural hub for the Middle East and the UAE remains our number one trading partner across the region. At the end of last year, the UK and UAE Governments made a commitment to increasing our bilateral trade to £12 billion (Dh66.3 billion) by 2015, a 60 per cent increase from current levels. I hope this visit moves us a step closer to achieving our new trade targets. The size and scope of the delegation indicate the UK's enthusiasm to explore new business partnerships," Lord Davies of Abersoch, the UK Minister for Trade, Investment and Small Business, told a gathering in Dubai yesterday where he was joined by visiting British business delegates and local business leaders at an event hosted by the British Business Group, Dubai and the Northern Emirates.
Led by Lord Davies, the high-level British business delegation includes 70 representatives from the power and energy, education, security and mass transportation sectors. Their visit to Dubai is in support of the UK/UAE Joint Economic Committee which aims to strengthen trade relationships between the two countries.
Mark Beer, BBG Chairman and CEO, said the event served to reinforce the UK's ongoing commitment to Dubai and the northern emirates. "The BBG is playing a pivotal role in promoting trade and investment from the UK into the UAE and vice versa," Beer said. "This high-level delegation underscores the UK's continuing interest in the Emirates as a vital trade and investment partner."
The UK/UAE Joint Economic Committee was established in 2009 by Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Lord Mandelson, the UK First Secretary of State and Secretary of State for Business, Innovation and Skills. The Committee aims to increase total UK/UAE trade in goods and services to £12 billion by 2015.
Lord Davies also visited the DP World head office on Wednesday, meeting Mohammad Sharaf, DP World Chief Executive Officer and Mohammad Al Mua'llem, Senior Vice-President and Managing Director of DP World, UAE Region.
Share this article
More from Investment
More from Business
Popular in Business
-
Gallery
Brand attraction
Celebrities endorse everything under the sun. Some odd examples
Business Editor's choice
-
Autographed Dairy Queen spoon fetches $4,500
Ice cream utensil with Buffett's signature drew 61 bids on eBay
-
Emcor wins mosque upkeep deal
Facilities management firm to take care of 650 mosques in Al Ain region for 3 yrs
-
Tough decisions paying off - Obama
Claims $60b in assistance to beleaguered car firms helped save jobs and revived growth
