Miscellaneous

UAE chosen to launch New British Government Business Initiative

2013-05-29 14:44:09

WAM DUBAI, May 29th, 2013– The UK Department of Trade ‘&’ Investment (UKTI) and the British Business Groups in Abu Dhabi and Dubai have signed a Memorandum of Understanding (MoU) on the establishment of Business Centres in Abu Dhabi and Dubai.

The signing took place at the fourth meeting of the UK-UAE Business Council in Manchester on 20th May and was witnessed by Lord Marland of Odstock, the UK Prime Minister’s Trade Envoy and the Chairmen of the UK-UAE Business Council, Nasser Alsowaidi, Chairman of the Abu Dhabi Department of Economic Development and Samir Brickho CEO of AMEC.

This forms a key part of UK Trade and Investment Minister Lord Green’s initiative to improve the competitiveness of British companies overseas and to support the growth of UK and UAE Small and Medium Enterprises (SMEs). The UAE is one of 20 pilot markets in Lord Green’s initiative.

British Ambassador to the UAE, Dominic Jermey, signed the MoU for UKTI, and said: “Lord Green’s initiative is a great opportunity for the Government to work with business in delivering a range of services to UK companies wanting to set up in the UAE. It will create a platform for UAE and UK SMEs to work together across the Emirates to increase bilateral trade, but also in getting companies to work together in third countries. We have two of the best British Business Groups in the world here in the UAE and UKTI works very closely with them to deliver on our objectives.”

Richard Oliver, Chairman of the BBG Abu Dhabi said, “This move will fast forward access to the UAE market for British businesses. It is a significant vote of confidence for the BBG in the Emirates.”

Jonathon Davidson, Chairman and CEO of the BBG Dubai ‘&’ Northern Emirates said: “The MOU marks the first step in what is a significant evolution for the BBG Dubai and BBG Abu Dhabi and is testament to the close working relationship enjoyed between the two groups and UKTI.

The selection of the UAE as one of the pilot countries for the Lord Green initiative firmly endorses the UK government’s view that the UAE is pivotal for future economic growth. We look forward to the signing of the grant and to further supporting the incubation and growth of British business and trade with the UAE.”

The UK and the UAE have a shared aim to increase trade between both countries by 60%, from levels in 2009 up to £12 billion by 2015.

WAM/AM/Moran

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