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UK plans UAE trade trip
Tuesday, 09 Mar 2010 03:04
Lord Davies, the UK's minister for trade, investment and small business, is to lead a group of small and medium sized enterprises (SMEs) to the United Arab Emirates (UAE) in order to promote business partnerships between the UK and the UAE.
The mister will take up to 70 SMEs with him in a bid to highlight the importance of the UAE for British trading.
Lord Davies commented on the visit: "The UAE is a hugely important market to the UK, it's our number one trading partner in the Middle East with ambitious diversification and investment plans.
"The size and scope of the delegation indicate the UK's enthusiasm to explore new business opportunities."
Despite "challenging global economic conditions" exports of goods from the UK to the UAE held fairly steady in 2009 at £3.6 billion.
The trade partnership between the UK and the UAE has proven to be valuable to both parties.
Britain is the leading international investor in the UAE region, while the country is the UK's 14th largest export market in the world.
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