Dubai Economic Council signs partnership to promote UAE-UK trade

Jonathan MacPherson, Hani Al Hamli and David J. Burns, deputy chairman of the British Business Group Dubai and the Northern Emirates, sign the MoU in Dubai.

The United Arab Emirates is “pleased with its economic relations with the UK”, a relationship which has contributed to the economic great things about both nations through the years, according to Hani Al Hamli, Secretary-General of the Dubai Economic Council.

Al Hamli was speaking after signing a memorandum of understanding (MoU) between the British Business Group Dubai and the Northern Emirates (BBG) and Dubai Economic Council (DEC), establishing a partnership for a common agenda on the development of two-way economic relations.

Al Hamli said the UAE is at the forefront of Britain’s trading partners in theMiddle East and the GCC, and 10th in the world. He said: “We confirm our continued commitment to further developing the historically strong political and economic relationships we have enjoyed with the UK.”

Al Hamli said the United Kingdom has maintained its position as Dubai’s third-largest European trading partner (14%) through the first half a year of this 12 months to the tune of Dh13.3 billion. THE UNITED KINGDOM provides solutions and products across a number of trade sectors such as for example education, healthcare, technical and administration consulting and others.

According to Al Hamli, the speed of trade among Dubai and the united kingdom has increased in the past few years and offers included direct and indirect trade, especially through Jebel Ali Free Zone. He added that the true estate sector was at the forefront of sectors that attracted British traders. The previous few years possess witnessed a remarkable degree of investment in property by British investors, especially in the high-end areas such as for example Dubai Marina, Downtown Dubai, and Palm Jumeirah.

Britons also comprised the biggest quantity of European visitors arriving at Dubai. According to figures, Britain tops the set of the 1st three countries exporting tourism to Dubai. Furthermore, to financial and trade relations, there are close cultural and sporting ties between Britain and Dubai.

Al Hamli said Expo 2020 would boost British investment in Dubai and praised the important role played by the British Business Group in strengthening economic relations between Dubai and the United Kingdom and in assisting the interests of British business in Dubai. “It is expected that Expo Dubai 2020 will present great opportunities for British companies already operating in Dubai as well as attract new British investors to the emirate,” he said.

BBG chairman David J. Burns stated: “With the renewed sense of vigour the British government is placing on further developing international trading partners, forging closer links with entities like DEC is a key focus for the BBG in the years ahead.

“Dubai and the UAE is an important trading partner for the United Kingdom. The special relationship that has been developed between our two economies over the last century is only going to become stronger and more economically beneficial for both nations in the coming years.

“The BBG and DEC will spearhead efforts to carry the message to our respective business leaders that the UAE remains an attractive investment opportunity for British business and is becoming an even more exciting destination for British tourists and visitors.”

Source: khaleej times