Lord Green of Hurstpierpoint, Minister of State for Trade and Investment attended on 23 September 2013 an exclusive event hosted by the British Business Groups in United Arab Emirates (UAE), at Jumeirah Emirates Towers Hotel in Dubai.
During the event, Lord Green said how he valued the role the British Business Groups (BBG) has played in driving forward his initiative. The initiative aims at improving the competitiveness of British companies overseas and supporting the growth of UK and UAE Small and Medium Enterprises (SMEs).
Lord Green and the respective BBG Joint Chairs updated BBG members on the plans to launch two Business Centres in the UAE by 2014. They also highlighted its significance for British companies looking to establish their businesses in the UAE.
BBG Dubai and Northern Emirates Chairman, Jonathan Davidson and BBG Abu Dhabi Chairman, Richard Oliver elaborated on how the launch and operation of the centres will further develop stronger trade ties between UK.
Ahead of the event, Lord Green said:
“The UK and the UAE share strong trade ties. The UAE is UK’s biggest market in the region and its 12th biggest globally. It hosts two of the best British Business Groups in the world who are playing a vital role in launching the British Business Centres here”.
Lord Green added: “An active, vibrant, broad-based, supportive British business community in the markets which we are hoping to encourage British businesses to access, is critical to their success. The centres will help the British SMEs establish a foothold in the UAE and will provide the practical advice and the knowledge needed to operate in this market”
Her Majesty’s Consul General Edward Hobart said:
“The UK and UAE are important trade partners. We have a joint target to increase bilateral trade to £12 billion by 2015; in the first half of 2013 UK exports to the UAE grew by 9%, making the UAE our 12th biggest export partner, and the growth of UAE exports to the UK was even stronger. Lord Green’s initiative will encourage British SMEs to bring their skills and expertise to the UAE planting seeds for partnership with their Emirati counterparts. This will further strengthen both economies”.
Richard Oliver, Chairman BBG Abu Dhabi said:
“BBG Abu Dhabi is delighted to be signing this pivotal agreement which marks a significant upward inflexion point in our relations not only with UK corporates but also with the UAE and UK governments. This landmark agreement cements the BBG as fundamental partners for UK business in the UAE.’’
Jonathon Davidson, Chairman, BBG Dubai and Northern Emirates said:
“The inclusion of British Business Centres in UAE under the Lord Green initiative once again highlights the importance of the UAE as an investment destination for British business. With commercial confidence rising again in the Emirates, the timing of this announcement will give a great boost to British businesses considering investing in the Middle East and in particular, the UAE.”
In May 2013, UK Trade & Investment (UKTI) and the British Business Groups in Abu Dhabi and Dubai signed a Memorandum of Understanding (MOU) on the establishment of Business Centres in Abu Dhabi and Dubai.
UAE is one of 20 pilot markets in Lord Green’s initiative.
Notes to Editors:
UK Trade & Investment (UKTI) is the government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit: UKTI or contact Camille Pascual, UKTI Dubai, on: +971 (0) 4 309 4314