UAE, UK officials bid to boost economic links at London meeting

The UAE’s minister of economy has met the UK’s minister of state at the Department for Business, Energy and Industrial Strategy in a bid to boost economic ties between the two countries, the Emirates News Agency reported on Tuesday.

The meeting, between Abdulla bin Touq Al-Marri and Greg Hands, looked at new opportunities for economic and investment cooperation, as well as new ways to deepen collaboration in the private sector.

The meeting formed part of the agenda for a UAE delegation which is visiting the UK to attend Investopia London on Wednesday.

Al-Marri spoke of the healthy state of relations between the UAE and UK, emphasizing the UAE’s commitment to strengthening economic cooperation with Britain, particularly in emerging sectors that will help drive the transition to the future economy.

The two sides discussed ways to strengthen economic partnerships and facilitate dialogue between the UAE and British private sectors.

This, they said, would open up new avenues for cooperation, particularly given the diversity of economic opportunities in both markets, as well as the possibility of providing more facilities and incentives to exporters and importers in both countries, thereby supporting the growth and sustainability of their economies.

Al-Marri said closer economic ties with the UK acted as an example of the UAE’s commitment to promoting economic openness and establishing partnerships with key regional and global strategic markets, stressing its critical role in supporting major economic clusters that will shape the future of the global economy.

The official also met the UK’s Economic Secretary to the Treasury Bim Afolami to discuss ways of bolstering cooperation in fintech, digital transformation, entrepreneurship, the circular economy, financial services, and renewable energy.

The parties also discussed ways in which they could support small and medium-sized enterprises, providing them with opportunities to improve growth and competitiveness in a variety of economic activities involving the UAE and Britain.