Abu dhabi: Saeed Al Hajeri, Minister of State, and Lord Mervyn Davies, Baron Davies of Abersoch, convened for the first time as the newly appointed Co-Chairs of the UAE-UK Business Council (UUBC) during a virtual meeting. This gathering was centered on the Council's priorities and the strategic direction for the future.
According to Emirates News Agency, the meeting signified a pivotal moment in the Council's mission to enhance economic, trade, and investment connections between the United Arab Emirates and the United Kingdom. The Co-Chairs deliberated on the Council's agenda for the coming period, emphasizing opportunities for deeper engagement between the business communities of the UAE and UK.
The recent completion of negotiations on the UK-GCC Free Trade Agreement was highlighted by the Co-Chairs as a significant milestone. This agreement is expected to open new avenues in economic relations, fostering substantial growth in trade and investment between the UAE and the UK.
The discussions also covered potential areas for collaboration, such as artificial intelligence, energy transition, financial services, life sciences, infrastructure, and education and skills. Additionally, the Council's role in facilitating trade and investment was underscored, along with preparations for the upcoming UUBC Plenary Meeting scheduled for October in London.
This meeting follows the appointment of Al Hajeri and Lord Davies as Co-Chairs, succeeding Ahmed Al Sayegh and the Rt Hon Lord Udny-Lister, who were the founding Co-Chairs since the Council's inception in September 2020. The UAE-UK Business Council serves as an independent bilateral platform, uniting business leaders and stakeholders from both nations to support trade, investment, and knowledge exchange in areas of mutual economic interest.
The Co-Chairs reaffirmed their dedication to building on the Council's past achievements and expressed enthusiasm for collaborating to further strengthen the UAE-UK economic partnership, creating new opportunities for businesses in both countries.