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UAE Freezones Biz News Updates
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Britain chooses UAE to launch new business initiative
Memorandum of Understanding on establishment of Business Centres in Abu
Dhabi and Dubai forms key part of British initiative to support growth of UK
and UAE SMEs. The UK Department of Trade '&' Investment (UKTI) and the
British Business Groups in Abu Dhabi and Dubai have signed a Memorandum of
Understanding (MoU) on the establishment of Business Centres in Abu Dhabi
and Dubai.
The signing took place at the fourth meeting of the UK-UAE Business Council
in Manchester on 20th May and was witnessed by Lord Marland of Odstock, the
UK Prime Minister's Trade Envoy and the Chairmen of the UK-UAE Business
Council, Nasser Alsowaidi, Chairman of the Abu Dhabi Department of Economic
Development and Samir Brickho CEO of AMEC.
This forms a key part of UK Trade and Investment Minister Lord Green's
initiative to improve the competitiveness of British companies overseas and
to support the growth of UK and UAE Small and Medium Enterprises (SMEs). The
UAE is one of 20 pilot markets in Lord Green's initiative.
British Ambassador to the UAE, Dominic Jermey, signed the MoU for UKTI.
"Lord Green's initiative is a great opportunity for the Government to work
with business in delivering a range of services to UK companies wanting to
set up in the UAE. It will create a platform for UAE and UK SMEs to work
together across the Emirates to increase bilateral trade, but also in
getting companies to work together in third countries, he said.
We have two of the best British Business Groups in the world here in the
UAE and UKTI works very closely with them to deliver on our objectives," he
added.
Richard Oliver, Chairman of the BBG Abu Dhabi said, "This move will fast
forward access to the UAE market for British businesses. It is a significant
vote of confidence for the BBG in the Emirates."
Jonathon Davidson, Chairman and CEO of the BBG Dubai '&' Northern Emirates
said, "The MOU marks the first step in what is a significant evolution for
the BBG Dubai and BBG Abu Dhabi and is testament to the close working
relationship enjoyed between the two groups and UKTI.
The selection of the UAE as one of the pilot countries for the Lord Green
initiative firmly endorses the UK government's view that the UAE is pivotal
for future economic growth. We look forward to the signing of the grant and
to further supporting the incubation and growth of British business and
trade with the UAE," he added.
The UK and the UAE have a shared aim to increase trade between both
countries by 60%, from levels in 2009 up to £12 billion by 2015.
29 May, 2013 |
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Courtesy Middle East Online
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