Sheikh Maktoum, UK minister explore opportunities in trade, investment and innovation

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UAE - Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Lord Gerald Edgar Grimstone, UK’s Minister for Investment. — Supplied photo

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE, met with Lord Gerald Edgar Grimstone, UK’s Minister for Investment, at His Highness The Ruler's Court in Dubai.

Sheikh Maktoum and the UK Minister discussed ways to further build on the strong ties between the two countries to expand cooperation and leverage new growth opportunities in various areas including trade, investment and innovation.

The discussions sought to identify new avenues to diversify the bilateral economic relationship and broaden partnerships in vital sectors like energy, infrastructure, technology and life sciences, in ways that will drive mutual development.

“The continued growth of the robust relationship between the UAE and the UK demonstrates the resilience of our ties in an evolving global environment. Building on our historical bonds, the UAE is keen to work closely with the UK to promote sustainable prosperity and security not only for our two nations but also the world. We are also keen to forge partnerships to develop solutions to critical global challenges and expand the exchange of knowledge, skills and ideas,” said Sheikh Maktoum.

Recent years have seen the strengthening of trade and investment ties between the two countries. The UAE is the UK’s third largest trading partner outside Europe and its largest trading partner in the Middle East. The UAE is also a key market for Britain's expanding trade ambitions in the post-Brexit phase, with the UK aiming to double the number of businesses exporting goods and services across the world by 2030.

Major investment deals signed recently by the two countries represent a new groundbreaking dimension to the partnership between the two countries. Tourism represents another example of close links, with the UAE receiving around 1.5 million visitors from the UK every year.

The meeting was attended by Reem Al Hashimy, UAE Minister of State for International Cooperation; Abdulla Al Basti, Secretary-General, The Dubai Executive Council; and Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism.