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1/31/24, 9:28 AM                  UAE, UK Strengthen Economic Ties Through Bilateral Meeting - The Gulf Observer
           pivotal for the transition towards economic expansion and investment,

           reflecting the shared visions and strategies of both nations.


           The Minister emphasized the significance of the meeting in broadening
           the  scope  of  existing  cooperation,  focusing  on  emerging  economic

           sectors,  and  exploring  new  opportunities.  The  UAE’s  strategic

           geographic location and the UK’s role as a promising economic hub for
           UAE businesses in Europe were highlighted.


           The bilateral talks included discussions on facilitating dialogue between
           the  UAE  and  British  private  sectors  to  identify  new  avenues  for

           cooperation. Both nations explored diverse economic opportunities and

           the potential to provide more facilities and incentives to exporters and
           importers, supporting the growth and sustainability of their economies.


           Bin Touq reiterated the UAE’s commitment to economic openness and

           building fruitful partnerships with strategic global markets. The nation’s
           role as a competitive economic hub, offering connectivity to over 400

           cities  worldwide  and  extensive  shipping  lines  connecting  88  ports
           globally, was emphasized.


           Additionally, a meeting was held between the Minister of Economy and

           Bim  Afolami,  Economic  Secretary  to  the  Treasury,  focusing  on
           strengthening          cooperation          in     fintech,      digital      transformation,

           entrepreneurship,  circular  economy,  financial  services,  and  renewable

           energy. Discussions included sharing views on global entrepreneurship
           practices and supporting SMEs in both markets.


           The exchange of experiences extended to the development of flexible

           economic  policies,  their  role  in  promoting  growth  and  sustainability,
           and  the  UAE’s  advanced  economic  legislative  system.  Key  legislative

           initiatives,  such  as  granting  100%  foreign  ownership  to  companies,
           facilitating  business  establishment  procedures,  and  promoting

           international  partnerships,  were  highlighted.  The  UAE  also  showcased
           promising  investment  opportunities  in  tourism,  family  businesses,  e-

           commerce,  manufacturing,  sustainable  transport,  and  technology.  The

           bilateral meeting marks a significant step toward reinforcing economic
           ties between the UAE and the UK.








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