High-level UAE delegation chases closer economic ties with the UK

During the visit, the UAE and the UK will also discuss the expansion of partnerships at both public and private sector levels in addition to the development of new frameworks for cooperation in all fields to serve the comprehensive development visions of the two countries.

The UAE delegation includes representatives of nine government and private entities, including the Ministry of Economy, the Abu Dhabi Department of Economic Development, Dubai FDI, Dubai Industries and Exports, the Sharjah Investment and Development Authority (Shurooq), the Sharjah Foreign Direct Investment Office (Invest in Sharjah), Abu Dhabi Investment Authority, Masdar and Dubai Ports.

The visit comes as the United Kingdom is the UAE’s third largest European trade partner in non-oil goods with of trade in 2020 amounting to nearly $8.1 billion, ranking 15th globally and accounting for 2 percent of the UAE’s total non-oil foreign trade.

During its visit to the UK, the delegation will highlight the ambitious plan launched by the UAE government within the framework of the Projects of the 50 that is set to pave the way for a new phase of economic growth.

According to a statement, the visit will focus on enhancing cooperation in a number of vital and future fields, including trade, investment, and small and medium enterprises, healthcare, renewable energy, food security, financial and banking sector, transportation and logistics, education, innovation and technology and intellectual property.

It added that the UAE delegation will meet with a number of ministers, senior government officials and representatives of the UK’s private sector to discuss ways to facilitate trade, develop practical measures to drive investments and encourage entrepreneurs from both sides to take advantage of promising opportunities.