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BRITISH Business Group chairman Nick Dutt hailed this month’s ‘Britain in the Region’ event as an ideal opportunity for British businesses to gain a greater foothold in markets across the Middle East.
The BBG is tomorrow taking part in the event, which has been organised by the British Embassy Dubai and UK Trade & Investment (UKTI) to give British businesses with a presence in the region an insight into other Middle Eastern and North African markets.
UKTI, the UK government’s international business development organisation, estimates that UK exports to the Middle East region were worth more than £10 billion (BD747 million) in 2006 with exports to Bahrain and Qatar up by 45 and nearly 35 per cent respectively.
In addition, the UK now exports more products and services to Saudi Arabia than the whole of Latin America.
The UAE is the UK’s largest export market in the region and the ninth largest worldwide, according to UK government figures for 2005.
UK exports to the UAE totalled £5.57 billion in 2005, an increase of more than 100 per cent on the previous year.
Exports to Dubai alone accounted for 85 per cent of the overall figure recording a rise of 135 per cent compared with 2004.
This increasingly strong commercial relationship between the UK and the UAE led to the announcement by the British government last year that the UAE has been identified as one of its ten key ‘emerging markets’ where the UK is keen to deepen trade and investment relations.
At the ‘Britain in the Region’ event, taking place at the Al Murooj Rotana Hotel in Dubai, senior trade and investment officers from British Embassies and Trade Offices in 14 countries across the region will be present to offer advice to UK businesses hoping to enter these markets.
“The Middle East and North African region is becoming increasingly important for British businesses and ‘Britain in the Region’ is a great initiative, which we are very happy to support,” said Mr Dutt.
“There are many British companies with regional headquarters in Dubai and the UAE looking for ways to engage with other markets in the region and this event offers opportunities to build knowledge and links. The Middle East region is widely spread so it is great to have representatives for all the key markets under one roof.”
The BBG, set up in 1987 to encourage the development of British business in the UAE, now has around 900 members and is looking to promote its services to potential new members during the event.
“For us this is an effective way to raise our profile with non-members here in Dubai and also add value for existing members,” said Mr Dutt.
For more information about the Britain in the Region event visit www.britishembassy.gov.uk/uae.
