So far this year, UK exports to the Middle East and North Africa (Mena) region were valued at more than £9.1 billion, a 23 per cent increase over last year's figures.

Goods worth around £1.97 million are exported annually just to Dubai.

As for imports, around £6.3 billion worth of goods were imported from the Mena area to the UK, representing an 18 per cent increase for the same time frame last year.

"As UAE's minister of foreign trade, I am pleased to say that my country's role in global commerce has expanded considerably despite the less than optimal conditions of the money markets," Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said.

"Our share in global trade rose $41 billion from $243 billion in 2006 to $275 billion in 2007. We recorded an impressive GDP of Dh698 billion for the same year continuing a compounded annual growth rate of 23 per cent over the past four years," she added.

"The UK has been a steady and reliable partner in our journey to progress. Even amid today's economic crisis, our collaboration remains highly productive," Shaikha Lubna said.

Lord Digby Jones, newly appointed UK business ambassador, is heading a British business delegation, consisting of around 200 UK companies at the Britain in the Region event here in Dubai.

© Gulf News 2008

 

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