UK distances itself from slanderous stories on Dubai

Dubai: The British government has distanced itself from the slanderous stories carried by some British newspapers that target Dubai in relation to the effects of the global financial crisis.

British Foreign Office Spokesman John Wilkes described the criticism waged by the British press as "over exaggerated".

"Dubai is not the only place that is affected by the global recession. The whole world is suffering," Wilkes said in a press conference organised by the British Embassy and Dubai Press Club in Dubai on Tuesday

He noted that the high-ranking business delegation accompanying Lord Peter Mandelson, British Secretary of State for Business, Enterprise, and Regulatory Reform on his visit to the UAE, "is a clear indication of the United Kingdom's desire to accelerate recovery of global economy through boosting commercial and investment relations with the GCC, Iraq and other countries of the region.

He referred to the UAE as the largest market in the region for the British exports, saying that his government was committed to strengthening ties and exploring business opportunities in the region.

"The British government has a great confidence in the huge potentials of the UAE and other GCC countries. The GCC countries possess large financial reserves that would enable them to deal with the global financial crisis."

Wilkes, who ended a visit to Iraq on Tuesday, said the British government was bracing for a new era in its commercial relations with Iraq after the marked improvement in the security situation.

"The major challenge is to provide a regulatory framework that leads to an ideal environment for attracting foreign investments into Iraq."