The UK is focusing on deepening its trade and investment ties with the UAE, aiming for increased dual listings on the London Stock Exchange. Economic Secretary Emma Reynolds highlighted the UAE’s significance, noting the partnership’s historical background and recent agreements in financial services. Investments flow both ways, with UK firms thriving in the UAE and substantial UAE investments in the UK totaling over £25 billion in bilateral trade in 2024.
The United Kingdom is actively working to enhance its trade and investment collaboration with the United Arab Emirates (UAE), aiming for more dual listings on the London Stock Exchange. Emma Reynolds, the UK’s newly appointed Economic Secretary to the Treasury, emphasized the importance of the UAE, describing it as a “hugely important economy for us,” given the historical ties between the two nations. Recently, a Memorandum of Understanding on financial services was signed to initiate concrete steps towards collaboration in areas such as dual listings, open banking, FinTech, and sustainable finance.
During her recent trip to the UAE for the Investopia conference, Ms. Reynolds engaged with high-level officials to fortify connections between both countries. Existing dual listings between UAE and UK markets have previously occurred, and the UK is eager to see an increase in these partnerships moving forward. The UAE continues to experience a surge in company listings as it diversifies its economy, showcasing a thriving financial landscape.
Significant investments have been made by various companies in the UAE’s stock markets, contributing to its economic growth. Recent listings include Talabat Holding, Lulu Group, and others, reflecting a growing trend in the region. Ms. Reynolds expressed confidence in the UK’s capital markets, noting that the London stock exchange raised more capital than the next three European exchanges combined last year.
Moreover, the strong trade and investment relationships were highlighted by Ms. Reynolds, noting that several UK firms have chosen the UAE as their regional headquarters. These investments span numerous sectors, including clean energy and technology. Notable UAE investments in the UK include significant projects by DP World and Masdar, as well as a commitment to invest £10 billion through a partnership agreement with Mubadala Investment Company.
The trade rapport between the UAE and UK remains robust, with bilateral trade exceeding £25 billion in 2024. Over 5,000 UK-registered companies operate within the UAE, showcasing the depth of the economic relationship. Ms. Reynolds also mentioned ongoing developments regarding a free trade agreement within the GCC, emphasizing that any arrangement must be mutually beneficial for both parties.
In summary, the United Kingdom seeks to strengthen its economic ties with the UAE through increased trade, investment, and dual listings on the London Stock Exchange. The historical relationship between the two nations, along with ambitious financial collaborations and significant investments, indicates a thriving economic partnership poised for future growth.
Original Source: www.thenationalnews.com
