The UAE remains one of UK’s top 27 investors according to HULT Private Capital
LONDON, UK, February 17, 2021 /EINPresswire.com/ — British investments in UAE valued at $20.5bn, UAE one of 27 top investors in UK: Minister of Economy
The UK and UAE have had a strong relationship for many years the UAE’s minister for economy explains why.
Economic relations between the UK and the UAE are steadily growing with an upward trend in bilateral trade and investments, says a top UAE official.
“The UK is the UAE’s 3rd leading partner in non-oil commodities trade today. The UAE was UK’s top Arab trade partner in 2019, accounting for 32 percent of the UK’s foreign trade with other countries,” Abdulla Bin Touq Al Marri, UAE Minister of Economy, said.
“The non-oil foreign trade between both countries in the first eight months in 2020 was valued at approximately US$5.5 billion at that time and the UAE’s non-oil export to UK accounted for nearly US$500 million, which reflected a growth rate of 25 percent,” he revealed during a virtual ministerial briefing with UK Minister for Investment, Lord Grimstone.
‘UK-UAE perspectives: Growth & partnership for 2021 beyond’ an virtual event organised by Bloomberg discussed the economic recovery from COVID-19 and its implications on the financial sector. The ministers also talked about the importance of strong trade and investment ties between the UK and the UAE in promoting a sustainable economic rebound and deepening links post-Brexit.
John Hudson a senior representative of HULT Private Capital supports the claim of UK UAE relations “I have seen the growth and interest in UK Private Equity and Property continue to grow throughout the pandemic. Many smart investors are looking to capitalise from the current economic climate and knowledgeable investors have been soaking up the opportunities available in private equity and Property developments. It has been a busy year.’
Al Marri continued to say that “strong bilateral relationships with the UK are also evident on several non-trade related fronts. For instance, the UAE is home to several British companies today, in terms of investment with a value of US$20.5 billion. The UK accounts for 16 percent of the total FDI [Foreign Direct Investment] balance in the UAE as of the end of 2018.”
Meanwhile, the UAE’s direct investments in the UK accounted for US$7.2 billion by the end of 2018, the minister added. Which would include investments such as those presented by Property Investment Company HULT Private capital. The UAE is one of the 27 top investors in the UK, he noted, adding that the UAE is looking forward to a Free Trade Agreement, FTA, between the UK and Gulf Cooperation Council states.
Echoing the same sentiments, Lord Grimstone said the UAE will have a greater role in a free-trade framework between the UK and the GCC when the FTA is materialised.
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