The Business Council was joined for a networking lunch by Simon Penney, Her Majesty’s Trade Commissioner, and John Mahon, Director General for Exports at the Department for International Trade.
H.E. Nasser A. Alsowaidi, Co-Chair of the UAE-UK Business Council, said “Our members and Co-Chairs of the seven working groups will continue to diligently support all endeavours of the UAE-UK Business Council, and working assiduously to achieve its strategic objectives”.
Such groundwork, will aim to clearly highlight tangible deliverables, that will support to accomplish the main strategic objective of the business council.”
The British Ambassador to the UAE, Patrick Moody, said, “The bilateral trade relationship is in great shape, increasing by 12.3% to £17.5bn in 2017. The UAE-UK Business Council continues to pay an important role in creating and supporting the conditions for a further increase in bilateral trade and investment.”
The UAE Ambassador to the UK, H.E. Sulaiman Hamid Almazroui, also commented, “The UK-UAE Business Council is a great vehicle for promoting trade and investment between the two countries. Today’s meeting revealed eagerness from the working groups to push for an ambitious target set for the council by the two governments to reach £25bn. by 2020. We are very hopeful that this target will be achieved.”
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 2017 was £17.5bn, up from £14.6bn in 2016. The UAE is the UK’s 18th largest trading partner, 4th outside the EU.
The Business Council has seven Working Groups: Energy, Education & Training, Healthcare & Life Sciences, Security & Aerospace, 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