Abu Dhabi - Mubasher: Trade exchange between the United Kingdom and the United Arab Emirates will be stronger after Brexit, according to the British minister of state for trade and export promotion.
Fifty companies from all over the UK; from Scotland, Wales, Northern Ireland, and England are participating at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the minister told the Emirates News Agency (WAM) on Wednesday.
"Less than 10% of UK companies are currently exporting; so we see a lot more potential to work and look outside. We've approached our businesses and asked them how you want us to help you so that we can achieve this target,” she added, noting that the UAE and UK are focusing on the same platforms.
“Use of big data, Artificial Intelligence; we are both moving towards cleaner energy. And that’s why the potential is huge for us to grow our business regardless of whatever the outcome of Brexit is. There is a strong desire in the UK to look outside more to markets that we have not tapped before.
“UAE is the fifth largest trading partner for the UK outside Europe, coming after USA, Japan, China and Hong Kong, and bilateral trade is now growing in double digits. In terms of investment, we are the biggest foreign direct investor today in the UAE. And I believe it has to go both ways so it becomes good for you and good for us,” the minister noted.
