UK-UAE partnership strengthens

14/04/2009 - Dubai Investment News
UK-UAE partnership strengthens

Ties between the UK and the UAE have been strengthened thanks to the signing of a Memorandum of Understanding designed to boost trade and economic ties.

An agreement was signed in Abu Dhabi last week by UAE minister for the economy Sultan Bin Saeed Al Mansouri and the UK's business secretary Peter Mandelson.

Following the agreement, a joint economic committee between the two nations will be created, with meetings likely every two years, Gulf News states.

As well as signing the memorandum of understanding, Lord Mandelson also visited a number of locations across the UAE and met with leaders of the emirates. Economic cooperation and ways to further develop relations were discussed.

Lord Mandelson said Britain would welcome investments in UK businesses, the news provider states. However, complacency must not develop in the relationships between the emirates and the UK, he reportedly said, noting that future developments are more important than past relationships.

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