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UAE economy minister to visit Britain seeking trade deal

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By Reuters
UAE economy minister to visit Britain seeking trade deal
UAE economy minister to visit Britain seeking trade deal   -   Copyright  Thomson Reuters 2021   -  

<div> <p><span class="caps">DUBAI</span> – The United Arab Emirates’ economy minister will lead a high-level delegation to Britain this week, the ministry said on Sunday, as the Gulf state seeks to deepen trade ties.</p> <p>Abdulla Bin Touq Al Marri and the delegation will meet British ministers, officials and representatives from the private sector to discuss recently announced <span class="caps">UAE</span> economic policies.</p> <p>One of those policies includes the <span class="caps">UAE</span> seeking to seal what it calls a comprehensive economic agreement covering trade and foreign investment with Britain and seven other countries. </p> <p>The delegation would also discuss ways to develop economic ties and strengthen cooperation in trade, investment, healthcare and energy, among other sectors, the ministry said.</p> <p>The <span class="caps">UAE</span> last week announced it had expanded an investment partnership with the British government, committing 10 billion pounds ($13.7 billion) to invest in the UK over five years.</p> <p>The <span class="caps">UAE</span> delegation will also include local government, investment company and private sector representatives, the ministry said.</p> <p>Britain is the <span class="caps">UAE</span>’s third largest non-oil trade partner in Europe, with trade between the two countries worth almost $8.1 billion in 2020, it said.</p> <p>($1 = 0.7279 pounds)</p> <p/> </div>