UK to set up business centres in UAE to help SMEs

UK to set up business centres in UAE to help SMEs

The UK is to set up business centres in Abu Dhabi and Dubai in a bid to help British small and medium enterprises (SMEs) looking to set up in the UAE and was chosen as the launch market for a global business masterplan by the British government.

The UK Department of Trade and Investment (UKTI) and the British Business Groups in Abu Dhabi and Dubai have signed a Memorandum of Understanding (MoU) for the establishment of the two business centres.

The signing took place at the fourth meeting of the UK-UAE Business Council in Manchester on May 20 and was witnessed by Lord Marland of Odstock, the UK Prime Minister’s Trade Envoy and the Chairmen of the UK-UAE Business Council and Nasser Alsowaidi, Chairman of the Abu Dhabi Department of Economic Development.

The initiative is part of UK Trade and Investment Minister Lord Green’s aim to improve the competitiveness of British companies overseas and the UAE is one of 20 pilot markets taking part in the masterplan.

“Lord Green’s initiative is a great opportunity for the Government to work with business in delivering a range of services to UK companies wanting to set up in the UAE. It will create a platform for UAE and UK SMEs to work together across the Emirates to increase bilateral trade,” British Ambassador to the UAE, Dominic Jermey, told the WAM news agency.

The UK and the UAE have a shared aim to increase trade between both countries by 60 percent, from levels in 2009 up to £12bn ($18bn) by 2015.

The move is part of growing ties between the two countries. This week it was revealed both governments are also in talks to consider a proposal to waive visas for Emiratis entering the UK.

The London government is actively in talks with UAE authorities regarding a proposal to waive visas for Emiratis entering the UK, Alistair Burt, Parliamentary Undersecretary of State at the British Foreign and Commonwealth Office, told reporters at a press conference in Abu Dhabi.

“We will let people know,” Burt said when asked about a timeline for the proposal. The press conference was to mark the tenth meeting of the UK-UAE Taskforce, which was co-chaired by Dr Anwar Gargash, Minister of State for Foreign Affairs and Federal National Council Affairs.

As part of the talks, Gargash said a proposal to establish a prisoner transfer agreement between the two countries was “working well”.

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Posted on May 30, 2013, in Other. Bookmark the permalink. Leave a comment.

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