The UAE delegation will highlight the latest developments in the country’s trade legislation before its British counterparts. Image Credit: Pixabay

Dubai: A high-level UAE delegation will visit the UK this week to discuss the economic relations and explore more opportunities between the two countries.

Abdulla Bin Touq Al Marri, UAE Minister of Economy, will head the delegation. During the visit, both the countries will also discuss expanding partnerships at public and private sector levels. The UAE delegation will consist of nine concerned federal and local government entities, investment companies and private sector representatives from the country.

The meeting will focus on enhancing cooperation in key sectors including trade, investment, and small and medium enterprises; renewable energy; financial and banking sector; and intellectual property.

During the visit, the UAE delegation will meet representatives from the UK’s private sector to discuss:

  • ways to double the non-oil trade exchange between the two countries
  • encourage entrepreneurs from both sides to take advantage of promising opportunities in the markets of both the countries

The UAE delegation includes representatives of nine government and private entities:

  • Ministry of Economy
  • Abu Dhabi Department of Economic Development
  • Dubai FDI
  • Dubai Industries and Exports
  • Sharjah Investment and Development Authority (Shurooq)
  • Sharjah Foreign Direct Investment Office (Invest in Sharjah)
  • Abu Dhabi Investment Authority
  • Masdar
  • Dubai Ports

UK is the UAE’s third largest European trade partner in non-oil goods, as the volume of non-oil trade between the two countries in 2020 amounted to nearly $8.1 billion, ranking 15th globally in terms of the value of foreign trade, and accounting for 2 per cent of the UAE’s total non-oil foreign trade.