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LONDON: Economy Minister Abdullah Bin Touq Al Marri held a series of bilateral meetings, including one on the sidelines of the 13th Economic Forum with the UK Secretary of State for Business and Trade, Lord Dominic Johnson. The 2023 City Week Forum takes place in London from Monday 24th to 26th April.
The Minister also met Nicholas Lyons, Mayor of the City of London; Andrew Griffiths, Secretary of State for the Economy at the Treasury; Morris Paton, Chief Executive of the City Week Forum; Odile Renaud Basso, President of the European Bank for Reconstruction and Development; and members of the Innovate Finance Panel and head of growth Rashee Pandey.
During the talks, bin Touk stressed that the UAE has strengthened its openness to the world and remains keen on promoting global economic cooperation. He highlighted the UAE’s key role in creating investment opportunities in the new economy and supporting supply chains, thus ensuring its flexible and sustainable operations. Due to the country’s strategic location at the center of global trade routes, it serves as an active logistics gateway, facilitating the flow of goods to and from regional, Asian and African markets, enhancing the quality of life of people around the world. The Minister of Economy also highlighted the relevance of the UAE’s major initiatives in supporting and promoting international economic partnerships.
In addition, Bin Touq emphasized the need to consolidate existing economic partnerships between the UAE, the UK and the European continent, and to forge new ones in new economic sectors. These include fintech, renewable energy, the space industry, software, e-commerce, logistics, green and circular economy, agricultural technology and the exchange of experiences in these and other areas of common interest.
Stressing that the UAE’s leading economic experience has placed the country at the center of global trade, Bin Touq attributed this achievement to the UAE’s advanced technological infrastructure, attractive business and investment environment, and flexible economic legislation, all of which are based on the UAE’s The 50 and 2071 goals of the UAE’s centenary formulated in principle. These include granting full foreign ownership to companies, strengthening intellectual property protection, and launching an ambitious strategy to attract and retain talent from all walks of life to establish the country as a permanent center of innovation and creativity.
In addition, the Minister of Economy invited the European and UK business community to take advantage of the advantages and incentives offered by the UAE economy to grow and expand in the UAE and the wider Middle East and African markets. Draw their attention to ‘Investopia’, a global investment platform that is creating opportunities and facilitating future investments, and the UAE’s Comprehensive Economic Partnership Agreement (CEPA) programme. Under the plan, the country has so far signed four agreements with India, Israel, Indonesia and Turkey. Negotiations are ongoing with more strategic global markets. Once realized, these partnerships will enable the private sector to build regional and global networks, ensuring greater profits, growth and development.
Cities Week is an annual global forum held in London, the UK capital. The event brings together over 1,000 senior policymakers and economic officials in the UK and around the world to develop more effective solutions to the political and economic challenges facing the world. This year’s edition addresses three main issues around climate change, green finance and sustainability; institutional adoption and regulation of digital assets; digitization and innovation in capital markets.
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