UAE And UK Ministers Forge Renewable Energy Partnerships

In a proactive move to bolster economic ties between the United Arab Emirates (UAE) and the United Kingdom, H.E. Abdulla bin Touq Al Marri, Minister of Economy, recently engaged in a bilateral meeting with H.E. Greg Hands, British Minister of State (Department for Business, Energy & Industrial Strategy). The meeting focused on identifying fresh opportunities for economic and investment collaboration, emphasizing the commitment to strengthening private-sector ties.

The strategic encounter took place during the visit of a UAE delegation to the UK, coinciding with their participation in Investopia London, scheduled for January 31, 2024. Organized by Investopia, the event serves as a platform bringing together over 200 participants, including leaders, businessmen, investors, and entrepreneurs from both the UAE and the UK.

H.E. Bin Touq underscored the exemplary nature of UAE-UK relations, citing them as a model for advanced strategic ties and outstanding economic partnership. He highlighted the UAE’s dedication to fortifying economic cooperation, especially in emerging sectors that propel the transition towards the future economy. These sectors, of mutual importance, align with the shared visions and economic strategies of both nations, aimed at driving expansion and investment in forward-looking industries.

“The meeting marks a significant milestone in boosting efforts to explore more opportunities and broaden the scope of existing cooperation between the UAE and the UK, particularly in relevant economic sectors,” stated H.E. Bin Touq. He emphasized the UAE’s pivotal role as the UK’s primary economic partner in the region and the UK’s significance as a promising economic hub for UAE businesses in Europe.

The ministers discussed the strengthening of economic partnerships and fostering dialogue between the UAE and British private sectors. This initiative aims to unlock new avenues for cooperation, leveraging the diverse economic opportunities in both markets and providing facilities and incentives to exporters and importers, supporting the growth and sustainability of both economies.

Highlighting the UAE’s commitment to economic openness and fruitful partnerships, H.E. Bin Touq stressed its vital role in supporting major economic clusters that shape the future of the global economy. The UAE’s competitive economic hub, boasting direct connectivity to over 400 cities worldwide and extensive shipping lines connecting 88 ports, positions it as a key player in the global economic landscape.

In a separate bilateral meeting with H.E. Bim Afolami, Economic Secretary to the Treasury, Minister Bin Touq discussed reinforcing cooperation in fintech, digital transformation, entrepreneurship, circular economy, financial services, and renewable energy. The dialogue also covered global entrepreneurship practices, ways to empower SMEs, and the development of flexible economic policies to promote growth and sustainability.

H.E. Bin Touq highlighted the UAE’s advanced economic legislative system, showcasing its role in enhancing the competitiveness of the national business environment. This includes recent legislative developments in sectors such as cooperatives, commercial transactions, commercial registry, and family businesses. The minister drew attention to promising investment opportunities in tourism, family businesses, e-commerce, manufacturing, sustainable transport, and technology.

As the UAE and the UK deepen their economic collaboration, these discussions pave the way for enhanced bilateral ties, mutual growth, and increased opportunities for businesses in both nations.