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FINANCIAL NEWS
UAE, UK bilateral trade hits USD19.59 billion
13 Nov 2014
(MENAFN) The bilateral trade between the UAE and the UK has reached USD19.59 billion, meeting the target of USD19.05 billion for 2015 ahead of the deadline, which was set by the two governments in 2009, when bilateral trade hit USD11.90 billion,
The increase in bilateral trade includes a number of sectors including energy, financial and professional services, education, health care and infrastructure, as well as defense and aerospace.
With this growth in bilateral trade, the UAE became the tenth biggest export market for British goods in 2013, while the UAE exports to the UK have been growing in that period as well.
Meanwhile, hundreds of British companies are also setting up operations in the UAE, with the help of the British Centre for Business in Dubai, with expectations that the number will increase with the opening of the new center in Abu Dhabi, which will happen next year.
“We should strive to boost trade and investment between the UK and UAE even further. The British Government will work hard with the UAE Government and the members of the UK-UAE Business Council to achieve that,” The UK’s Ambassador to the UAE said.
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