Mansouri UAE, UK adopt new steps for SME cooperation

Abu Dhabi: Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Lord Davis, British Minister of State for Trade, Investment and Small Business, have adopted an effective mechanism to enhance cooperation in small and medium enterprises (SMEs) and exchange experiences and data between both countries during a meeting in Abu Dhabi.

The step comes within the follow up plan on the UAE-UK Joint Economic Committee held last October in London.

Al Mansouri said this mechanism will develop the performance of SMEs in the UAE and supports the governments' initiative to make this sector a major supporter of the national economy.

The countries also identified sectors and ways to increase bilateral trade by 60 per cent in 2015. Innovation, industry, finance, renewable energy and SMEs are the main sectors to achieve this target.