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Boost for UK-UAE trade relations
Minister for Investment, Graham Stuart, visited the UAE to strengthen the trade relationship between the UK and the UAE.
UK Minister for Investment, Graham Stuart MP, visited the UAE last week on a visit designed to foster deeper relationships between the UK and the UAE, and to encourage further investment into the UK.
Gulf countries are strong investors in the UK and the visit was set to open up further opportunities for businesses in both countries. During his visit, the Minister met with international investors, where he outlined the opportunities in the UK for UAE firms.
He also visited Jebel Ali Port, the largest marine terminal in the Middle East, accompanied by Her Majesty’s Trade Commissioner, Simon Penney, as guests of DP World’s Chairman, H.E. Sultan Ahmed bin Sulayem.
The UK Government has committed to establishing free ports across the UK, which will improve the efficiency of existing ports and create jobs and growth in port cities.
Speaking about his visit, Minister Stuart said:
The UAE is an important trading partner for the UK and home to some of the world’s largest and most experienced investment companies.
I was delighted to have had such productive meetings with major investors to discuss the UK’s strengths as a destination for foreign direct investment, hear of their confidence in the UK economy and emphasise the government’s ambition to make the UK an even better investment destination in the future.
The visit has also demonstrated how transformative a successful freeports policy can be in creating new jobs and supporting investment from all over the world, as illustrated by the success in Dubai.
My department is committed to delivering freeports in the UK to turbocharge investment and bring new opportunities and better jobs for local economies across the country.
HM Trade Commissioner Simon Penney added:
Freeports are hubs for businesses, for both manufacturing and services. As the UK moves towards the goal of creating new free ports, we can learn much from the ports and freezones in the region.
Greater investment, collaboration, and knowledge-sharing between the UK and the UAE can only benefit both our economies in the long term.