Discussed with the Minister of Economy at the British Treasury ways to enhance cooperation in future sectors

Maktoum bin Mohammed: Our relations with the United Kingdom are historic and we seek to crown them with more partnerships

Maktoum bin Mohammed during his meeting with the Minister of Economy at the British Treasury. From the source

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, yesterday received Andrew Griffiths, Minister of Economy at the British Treasury, at his office in the Dubai International Financial Centre (DIFC).

During the meeting, they discussed the economic and trade cooperation relations and their continuous development in light of the close historical ties between the two friendly countries, and ways to enhance this cooperation by discovering more joint opportunities within many vital sectors, especially in the fields of investment, trade and tourism exchange, as well as new development sectors related to the industry of the future.

During the meeting, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum stressed the UAE's pride in the historical ties with the United Kingdom, and its keenness to consolidate those ties in a way that serves the interests of the two friendly peoples, and stressed the country's keenness to play a positive role in advancing the process of economic cooperation at the global level, and enhancing cooperation opportunities that support sustainable economic development, by adopting and encouraging innovative ideas and solutions that support global supply lines, and contribute to creating a global economic model, characterized by the integration of visions and concerted efforts towards Achieving the desired development and common goals.

His Highness noted the prosperous UAE-UK relations, which are a model for fruitful and constructive international cooperation, especially at the level of economic cooperation, and the hoped-for further development during the next phase, whether by focusing on developing cooperation opportunities within traditional economic sectors or through joint work towards enhancing cooperation in future fields, which are of interest to both the UAE and Britain, including financial technology, clean and renewable energy, technology, space, green and circular economy, and others. One of the fields related to the industry of the future.

His Highness said in a tweet through his official account on Twitter: «I received Andrew Griffiths, Minister of Economy at the British Treasury, and reviewed the fruitful trade relations and opportunities for economic cooperation between our two countries and ways to develop them, the United Kingdom is the fourth largest European trade partner for the UAE, and the UAE is the first Arab trade partner for it, the value of non-oil trade between the two countries amounted to 37 billion dirhams last year».

His Highness added: "Our relations with the United Kingdom are historical, solid and renewed, and we seek to crown them with more partnerships and ambitious projects for the two countries."

The meeting also discussed the vital role played by Dubai as a pivotal trade hub in the region that contributes to linking and facilitating global trade flows, and this role contributes to enhancing opportunities for growth and development of economic cooperation relations between the two countries, especially in terms of trade exchange, and encouraging tourism to grow.

The discussion also touched on the great opportunities offered by the UAE and Dubai through a number of incentives, which have made the UAE a financial and business center in the region, and a major attraction for foreign direct investments and international companies seeking to access the region's markets, with its promising growth opportunities, as well as specialized professional skills and competencies from around the world.

It is noteworthy that the value of non-oil trade between the UAE and the United Kingdom amounted to about AED 37 billion in 2022, a growth of 26% compared to 2021, while the United Kingdom is the fourth largest European trade partner of the UAE for the same year, and the UAE is the first Arab trade partner, and the UAE accounts for about 30% of the total UK trade with Arab countries.