The Business Council was also honoured to hear from Baroness Rona Fairhead, Minister of Trade and Export Promotion. She set out how important the UAE and UK are to each other as trading partners, with the UAE being the UK’s thirteenth largest export market, the only Gulf state in the top 20.
H.E. Nasser A. Alsowaidi, Co-Chair of the UAE-UK Business Council first expressed his sincere appreciation to the UAE Embassy in the United Kingdom and the UK Embassy in the United Arab Emirates for their continuous collaboration in supporting the initiatives of the UAE-UK Business Council throughout the years. H.E. Nasser A. Alsowaidi voiced his enthusiasm to continue working assiduously along the newly identified agenda with the support of the members and co-chairs of the working groups to achieve the objectives of the Business Council and noting that the close economic ties between the United Arab Emirates and the UK are being underlined by the recent announcement that Dubai will permanently host a team from UK Export Finance (UKEF), the British government’s export credit agency.
Note for Editors
At its eighth plenary meeting in May 2015, the Business Council adopted a new target to contribute to £25 billion of bilateral trade and investment by 2020.
The bilateral relationship continues to be strong and mutually beneficial. Bilateral trade in 2016 was £14.6bn, up from £12.9bn in 2015. Outside of Europe, the UAE is the UK’s third biggest export market, behind only the US and China.
The Business Council has seven Working Groups: Energy, Education & Training, Healthcare & Life Sciences, Security & Aerospace, 4th Industrial Revolution, Manufacturing & SMEs, Infrastructure, Financial & Professional Services.
The members of the UAE-UK Business Council are:
British Business Group – Abu Dhabi
British Business Group - Dubai
Foster & Partners
University of South Wales
Abu Dhabi Chamber
Abu Dhabi Global Market (ADGM)
Abu Dhabi Investment Authority (ADIA)
Al Badie Group
Al Ghandi Investment Company
Al Thani Investments
Bin Butti International Holding
Contact for this News Release
Rachel Elks – mobile - +971 56 879 1582