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The British Prime Minister will host Sheikh Mohamed bin Zayed’s bilateral meeting in Downing Street today.
Downing Street said on Wednesday evening that the UAE and the UK are expected to agree today on an ambitious “future partnership” that will build on the historical relationship between the two countries and lay a broad foundation for future cooperation.
This partnership will be supported by the annual UK-UAE Strategic Dialogue, which will begin later this year, and will be chaired by the British Foreign Secretary and his UAE Secretary of State for Foreign Affairs.
British Prime Minister Boris Johnson will receive His Royal Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for a bilateral meeting in Downing Street. A military The guard of honor and a British-UAE company received today.
The UAE is already an important partner of the UK, and the total trade volume between the two countries will reach 12 billion pounds in 2020.
As part of the visit, the UK Investment Office and the UAE Mubadala Investment Company are expected to sign a major expansion agreement for the Sovereign Investment Partnership (SIP) reached earlier this year. The transaction will ensure UK investment in life sciences, technology, energy transition and infrastructure.
Johnson and Sheikh Mohamed bin Zayed will witness the signing of the expanded Downing Street SIP Memorandum of Understanding.
French President Sheikh Mohammed discussing partnerships at the Paris meeting
Officials said these investments are expected to create high-value jobs in the UK and the UAE, and support the ambitious net-zero goal by promoting a clean energy transition.
Other investments expected to be announced include a £500 million investment in digital infrastructure builder CityFibre for the launch of high-speed broadband. This investment is part of CityFibre’s large-scale financing, which will support its 4 billion pounds to roll out all-fiber optics to 8 million households in urban and rural areas, creating an estimated 10,000 jobs and boosting national economic growth.
UK Export Finance (UKEF) also announced a new £31 million clean growth loan to complete the construction of the headquarters of the UAE environmental management company Bee’ah in Sharjah.
Johnson said: “The UAE and the UK have a long and rich history, but according to Thursday’s agreement, we are looking to the future. By working together more closely, our country will be at the forefront of future industries to help combat climate change and promote prosperity. .”
“Ambitious partnerships like this are at the core of the government’s strategy to become a global leader in technology, promoting major investment upgrades across the UK and creating high-value jobs. We will strengthen this at the Global Investment Summit in London next month. ,” he added.
The UAE and the UK will also launch a “partnership to deal with illicit capital flows” as a major challenge facing the two major global financial centers.
The officials added that the two governments will develop a joint action plan to alleviate and resolve money laundering, terrorist financing and other issues related to illegal financing.
Reporter@khaleejtimes.com
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