Page 138 - MOE ENGLISH PR REPORT - JANUARY 2024

2/1/24, 10:20 AM UAE and United Kingdom explore opportunities to strengthen economic partnership and enhance collaboration in entreprene…
H.E. said: “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. The UAE has a vital role as the UK’s primary
economic partner in the region, thanks to its strategic geographic location. Likewise, the UK
serves as a promising economic hub for UAE businesses in Europe.”

Supporting dialogue at the private sector level:

The two sides discussed the strengthening of prospects for economic partnerships and
facilitating dialogue between the UAE and British private sectors. This will open up new

avenues for cooperation, especially given the diversity of economic opportunities in both
markets and the possibility of providing more facilities and incentives to exporters and
importers in the two countries, thereby supporting the growth and sustainability of both

economies.

UAE’s key role in supporting major economic clusters:

Furthermore, H.E. Bin Touq highlighted the UAE’s vision to promote economic openness and

build fruitful partnerships with leading regional and global strategic markets. H.E. also
underscored its vital role in supporting major economic clusters, which will shape the future of

the global economy. These efforts are supported by the UAE’s position as a competitive and
vibrant economic hub, which offers direct connectivity to more than 400 cities around the
world and boasts extensive shipping lines connecting 88 ports worldwide.

To this end, the Minister of Economy held a bilateral meeting with H.E. Bim Afolami, Economic

Secretary to the Treasury, to discuss the strengthening of cooperation in the sectors of fintech,
digital transformation, entrepreneurship, circular economy, financial services and renewable
energy.

During their meeting, the two sides shared views on leading global entrepreneurship practices.

They also discussed ways to strengthen bilateral cooperation and support SMEs in the markets
of the two countries, empowering them with possibilities to enhance growth, financing
mechanisms and competitiveness in various UAE-British economic activities and to expand into

foreign markets.

Moreover, the meeting saw the exchange of experiences in the development of flexible
economic policies and their role in promoting the growth and sustainability of the two
countries’ economy. H.E. Bin Touq reviewed the UAE’s advanced economic legislative system

and its role in enhancing the competitiveness of the national business environment and
consolidating its leadership regionally and globally. These include the promulgation and
development of new legislation for the sectors of cooperatives, commercial transactions,

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