Page 158 - MOE ENGLISH PR REPORT - JANUARY 2024

visionary leadership in both countries. He highlighted the UAE's commitment to
strengthening economic cooperation with the United Kingdom, particularly in
emerging sectors that drive the transition towards the future economy. These
sectors hold significant importance since both nations share common visions and
economic strategies aimed at driving expansion and investment in these future
sectors.

The minister 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.”

The two sides discussed strengthening 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.

Bin Touq highlighted the UAE’s vision to promote economic openness and build
fruitful partnerships with leading regional and global strategic markets. He 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 Bim Afolami,
Economic Secretary to the Treasury, to discuss strengthening 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. Bin Touq reviewed the UAE’s

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