Britain’s global appeal remains unhindered

On June 23, British people voted to leave the European Union (EU). The new British Prime Minister, Theresa May, has been clear that Brexit means Brexit.

Some commentators have suggested that Britain is in retreat, that Brexit is another sign of the United Kingdom stepping back from the global stage. Nothing could be further from the truth. The UK is one of the most influential countries in the world, and is a force for good. It’s economy — the world’s fifth largest — grew most among the G7 countries in 2014, and was one of the two fastest growing major advanced economies (with the United States) last year.

Britain is a permanent member of the United Nations Security Council and a member of the G7, G20, Nato and the Commonwealth. It plays leading roles in all those fora. Britain was the first (and so far only) member of the G7 to increase its international development assistance to the UN target of 0.7 per cent of gross national income — a commitment now enshrined in UK law.

The UK has so far committed more than $3 billion (Dh11 billion) to help Syrians who have been forced from their homes, and the neighbouring countries who are hosting so many of them. Britain is making major military, security, political and humanitarian contributions to the international coalition against Daesh (the self-proclaimed Islamic State of Iraq and the Levant). It leads international efforts to tackle other global challenges as well — for example, the Ebola virus, anti-microbial resistance, modern slavery, tax transparency and corruption, on which the UK hosted a summit in May.

Britain has committed to keep its defence spending — already the second highest in Nato and the highest in the EU — at 2 per cent of gross domestic product. Its armed forces and security and intelligence agencies are respected globally. Its Royal Military Academy at Sandhurst trains future leaders from around the world. (The UAE has more Sandhurst graduates than any country, apart from the UK.)

The UK economy is not only large, but fundamentally strong and attractive. Employment in the UK is at a record high. Unemployment is at its lowest rate since 2005. Capital requirements for its largest banks are now ten times higher than before the banking crisis.

Strong rule of law

The UK is the highest-ranked major economy in the World Bank’s Ease of Doing Business Index. It is one of the best places in the world to start and grow a business, with strong rule of law, low corporate tax, a skilled and flexible workforce and world-beating financial, insurance and tech services.

All of which explains why more than one fifth of all foreign direct investment into Europe has been coming to the UK. In recent days, GlaxoSmithKline has decided to invest £275 million (Dh1.32 billion) to expand its UK manufacturing sites; Japanese technology firm Softbank has announced a £24 billion investment into the UK; and the Australian Prime Minister, Malcolm Turnbull, has made clear his desire to proceed quickly with a new trade deal with the UK, post-Brexit.

The UK is open for business and open for people. A record 36 million visited in 2015. Britain welcomed a record number of visitors from the UAE in the first quarter of this year. London hosts nearly 110,000 international students from more than 200 countries. Four of the world’s top ten universities are in the UK.

British skill and expertise are making a difference all over the world. Just look around the UAE, where Britons are running some of the country’s most successful companies, designing and building some of its most iconic infrastructures. British surgeons, British architects, British bankers — they have all contributed to the UAE’s remarkable evolution.

Britain will continue to thrive and prosper; to be a reliable ally, trusted partner and creative global leader for the common good; to be open, diverse, tolerant, dynamic, outward-facing and ready for both — challenge and opportunity.

Philip Parham is the British Ambassador to the UAE.