Lon­don mayor to ex­plore fin­tech, green fi­nance in UAE

Peter Estlin will meet with sov­er­eign fund in­vestors and top re­gional fig­ures

Gulf News - - Business - Staff Re­port

Op­por­tu­ni­ties in emerg­ing ar­eas such as fin­tech and green fi­nance will be high up the agenda as the Lord Mayor of Lon­don, who is of­ten called the global am­bas­sador for the UK’s fi­nan­cial and pro­fes­sional ser­vices in­dus­try, vis­its Kuwait City, Dubai and Abu Dhabi over the next week.

Ac­cord­ing to a press state­ment is­sued by the British Em­bassy in Dubai, Lord Mayor Peter Estlin will meet with sov­er­eign fund in­vestors and se­nior fig­ures from the re­gion’s fi­nan­cial sec­tor dur­ing the visit, in­clud­ing Mubadala In­vest­ment Com­pany and Abu Dhabi In­vest­ment Coun­cil. The UAE is among the fastest grow­ing mar­kets for UK ser­vices glob­ally, with to­tal ser­vices trade at £5.6 bil­lion (Dh26.4 bil­lion) with the UAE.

The Lord Mayor will dis­cuss emerg­ing op­por­tu­ni­ties for col­lab­o­ra­tion be­tween the re­gion and the UK.

“I’m de­lighted to be vis­it­ing Kuwait and UAE for my first over­seas visit of 2019,” Estlin said in a state­ment. “In these two coun­tries there is huge fur­ther po­ten­tial for col­lab­o­ra­tion with UK com­pa­nies. British busi­ness and in­no­va­tion across fi­nan­cial and pro­fes­sional ser­vices has much to of­fer part­ners in the re­gion, whether it be in cur­rency trad­ing and as­set man­age­ment, or grow­ing ar­eas like fin­tech and green fi­nance.”

“I’m look­ing for­ward to meet­ing key stake­hold­ers in the re­gion to scope out new part­ner­ship op­por­tu­ni­ties and boost col­lab­o­ra­tion as we em­bark upon a new chap­ter in our trad­ing his­tory,” he added.

Estlin will be ac­com­pa­nied by del­e­ga­tions from five lead­ing UK or­gan­i­sa­tions.

The visit will likely draw at­ten­tion with the UK vot­ing on a deal to leave the Euro­pean Union to­mor­row.

“As the UK takes con­trol of its in­de­pen­dent trade pol­icy for the first time in 40 years, mar­kets such as the UAE will pro­vide ex­cit­ing ex­port and in­vest­ment op­por­tu­ni­ties for UK com­pa­nies,” said In­ter­na­tional Trade Sec­re­tary Liam Fox said.

“My in­ter­na­tional eco­nomic depart­ment stands ready to drive trade be­tween our two coun­tries, and I would en­cour­age any busi­ness that wants to build or strengthen ties with their UK coun­ter­parts to con­tact our re­gional Trade Com­mis­sioner, Si­mon Penney, as well as our net­work of over­seas of­fices.”

Rex Fea­tures

Peter Estlin

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