UAE, UK Discuss Ways To Strengthen Economic Ties

Dubai's First Deputy Ruler, Deputy Prime Minister and Minister of Finance Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum met with UK's Economic Secretary to the Treasury Andrew Griffith at the Dubai International Financial Centre on Wednesday to review trade and commercial partnerships between the UAE and UK across various sectors.

During the meeting, Sheikh Maktoum highlighted the UAE's keenness to promote global economic cooperation towards sustainable economic growth. He also stressed the importance of collaboration in addressing global challenges, strengthening supply chains around the world, and developing a unified international economic ecosystem.

Sheikh Maktoum and Andrew Griffith also discussed the UAE and UK's long-standing economic ties and the new opportunities resulting from their good relations, particularly in the areas of tourism, trade, investment, and development. He also reaffirmed the UAE's commitment to deepening its relations with the UK for the benefit of the people of both countries.

"I met with Griffith, UK's Economic Secretary to the Treasury, & discussed the successful trade relations, opportunities for economic cooperation & ways to develop them further between our two countries," Sheikh Maktoum wrote on Twitter following the meeting.

"The UK is the UAE's fourth largest European trading partner and the UAE is the UK's number one Arab trade partner. Non-oil trade between them amounted to nearly AED37 billion last year. Our relations with the UK are historical, solid, and fruitful. We seek to solidify them through further ambitious partnerships and initiatives for the good of our countries," he added.

The UAE leader also reiterated the country's keenness to pursue new mutual opportunities with the UK to promote innovation in various sectors. He also examined with Griffith prospects for future cooperation and knowledge exchange in the areas of financial technology, renewable energy, software, space industry, e-commerce, logistics, agriculture, and green technology.

Sheikh Maktoum underscored during the meeting Dubai's status as a key global commercial and trading hub that serves as a catalyst for the strengthening of the UAE and UK's economic relations. He also highlighted the initiatives launched by Dubai to foster innovation and offer investment opportunities for UK businesses.