The UAE-UK Business Council held its fourteenth plenary meeting on Tuesday 13th November 2018 at the Ritz Carlton Hotel in Abu Dhabi.


Against the backdrop of the current Brexit Negotiations in the United Kingdom, the Business Council continued to review the opportunities that may arise from this. Mr Samir Brikho, Co-Chair of the UAE-UK Business Council said, “With the ongoing Brexit negotiations, the UK is entering a new chapter in its history and looks forward to an economic future that grows in partnership with friends around the world.  The UAE is a key friend and partner to the UK and going forward we hope to be able to build on the already strong trade and investment links.”

In addition to the activities being led by its seven sector working groups, the Business Council was interested to hear presentations from Expo 2020, UK Export Finance and the British Council.  Consideration was given to the future skills required by UAE employers.


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:

Atkins

BAE Systems

Barclays

BP plc

British Business Group – Abu Dhabi

British Business Group - Dubai

Brunswick Group

Corrotherm International

Foster & Partners

Healthcare UK

HSBC

PwC

Rolls Royce

Serco

Shell

Standard Chartered

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

Daman Investments

DP World

Dubai Chamber

Emirates

Etihad Airways

GASCO

MASDAR

Mubadala

Ruwad Establishment

Contact for this News Release

Rachel Elks – mobile - +971 56 879 1582

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