Lord Davies of Abersoch, the UK Minister for Trade, Investment and Small Business, joined visiting British business delegates and local business leaders today at a networking 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 & 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 bilateral trade relationships between the two countries.
Lord Davies said “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 Government’s made a commitment to increasing our bilateral trade to £12 billion by 2015, a 60 percent 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.”
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,” Mr 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 H.E. Engineer 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 bilateral trade in goods and services to a target of £12 billion by 2015.
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