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Wednesday, December 07, 2022

UAE-UK Business Council announces new initiative to promote trade, investment, decarbonisation and women entrepreneurs

ABU DHABI, 21st October, 2022 (WAM) — The UAE-UK Business Council held its 20th Plenary Meeting in Abu Dhabi, co-chaired by Minister of State Ahmed Al Sayegh and Lord Udni-Lister.

The event marked the first anniversary of the signing of two landmark bilateral agreements: the UAE-UK Partnership for the Future and the Sovereign Investment Partnership. The first among them aims to expand bilateral economic ties in areas such as technology, education, health and clean and renewable energy, while emphasizing the cooperation of the two countries to meet global challenges. The Sovereign Investment Partnership between Mubadala and the UK Investment Office has led to significant investments in the technology, infrastructure and clean and renewable energy sectors in the UK over the past year and plans to continue this momentum of engagement for the remaining five years of the programme. . ,
The Business Council announced that it will support the Cheri Blair Foundation for Women, which invites more business leaders from the UAE to mentor women entrepreneurs in less developed countries. The 100,000 Women program has already covered over 100 business leaders in the UAE, and plans to expand it next year. Cherie Blair announced the new partnership with the Business Council in a keynote address at the plenary session.

The meeting discussed the importance of advancing decarbonisation, and Majid Al Suwaidi, Director-General of the UAE COP28 Presidency, briefed Council members on priority issues for COP28, which will take place in November 2023 at Expo City Dubai.

In this regard, the White Paper of the Business Council on the Energy Transition was presented at the Plenary Meeting, which outlined proposals for bilateral cooperation on the Energy Transition. The document will be presented to both governments later this year for their consideration. A new project was also announced on opportunities for collaboration between the UK and the UAE for the decarbonisation of the built environment.

As we enter 2023, the UAE-UK Business Council will strengthen its mandate as a political and advocacy organization for the business communities of both countries, establish a permanent presence in the UAE and launch new campaign-type projects. Will do

Ahmed Al Sayegh commented: “The Partnership for the Future and the Sovereign Investment Partnership have achieved significant results in the year since their launch, and the plenary session has given us the opportunity to reflect on where our priorities lie in the years ahead. With one year to go until COP28, the sustainability, decarbonization and energy transition will present a particularly strong opportunity for cooperation between the UAE and the UK.”

For his part, Lord Udney-Lister commented: “Our bilateral trade and investment relations are increasingly diverse, with new opportunities for cooperation emerging in areas rich in technology and innovation. The role of the UAE-UK Business Council is to develop knowledge and to share about these trends, so as to harness the great potential that is realized by partnership and sovereign investment partnership for the future.”

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