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3/20/25, 8:40 AM UAE is a 'hugely important economy' for UK, minister says | The National
UAE is a 'hugely important economy' for UK, minister says

Britain seeks more dual listings of UAE firms on the London Stock Exchange, says Emma Reynolds, Economic Secretary to the
Treasury

Fareed Rahman
March 03, 2025

The UK aims to deepen its trade and investment partnership with the UAE and is seeking more dual

listings on the London Stock Exchange to further strengthen ties in the financial sector, according to the
UK's newly appointed Economic Secretary to the Treasury.

The UAE is a “hugely important economy for us ... [the two countries have a] historically close

relationship”, Emma Reynolds told The National in an interview. “We signed an MoU [memorandum of

understanding] together on financial services in October 2023. So I've been discussing where we can
have concrete follow-up steps, whether it's progress on dual listings that we'd like to see, or on further
exchanging ideas around open banking and FinTech and, indeed, sustainable finance.”

Ms Reynolds was in the UAE to attend the Investopia conference in Abu Dhabi last week and met top
officials, including ministers, to strengthen ties between the two countries. It was her first overseas trip

after being appointed Economic Secretary to the Treasury in January.

Dual listings on the UAE stock markets and the London Stock Exchange have happened in the past, and

“we would like it to happen more in future”, she said.

There has been a listings boom in the UAE in the past few years as the Arab world’s second-largest

economy continues to grow amid diversification efforts.

Last year, companies including Talabat Holding, Lulu Group, ADNH Catering, a unit of Abu Dhabi

National Hotels, NMDC Energy, a unit of Abu Dhabi contractor National Marine Dredging Company,
and Alef Education, among others, listed their stocks on the UAE stock markets. Technology

company Alpha Data raised Dh600 million from its initial public offering on the Abu Dhabi Securities
Exchange last month.

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