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Abdullah receives British official

posted on 09/11/2006: 825 views

Foreign Minister, Sheikh Abdullah bin Zayed Al Nahyan, received at Al Bateen Palace in Abu Dhabi yesterday Ed Balls MP, Economic Secretary to the British Treasury, who is currently on a visit to the UAE.

They discussed bilateral relations and means of bolstering economic and business cooperation between the two countries

In a press statement, the British official praised the successes the UAE had achieved, both in diversifying its economy and in managing its oil revenues through stabilisation funds and paying off its short term debt. "The UAE can be an example for other resource rich countries, particularly in these days of rapid change for the global economy and the financial services sector in particular," he said.

Describing UK-UAE trade links as "already strong", the Secretary said he wanted to see them strengthen still further. "We are particularly pleased that the UK is increasingly the destination of choice for Foreign Direct Investment from the UAE and we warmly welcome the recent acquisition of P & O by Dubai Ports World and look forward to further such investments." The British Secretary welcomed the substantial progress made over the past year towards an EU and GCC Free Trade Agreement, and vowed to "do what we can to secure the completion of the negotiations.” (Emirates News Agency, WAM)


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