Khalifa’s UK visit to boost bilateral ties

Khalifa’s UK visit to boost bilateral ties Mustafa Al Zarooni ((REPORTING FROM LONDON)) / 30 April 2013 THE UAE and the UK are expected to sign three agreements, including one on setting up a green bank for environment-friendly projects during the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan’s visit to the country which begins today. The UAE economic delegation is headed by Shaikh Ahmed bin Saeed Al Maktoum, CEO and Chairman of The Emirates Group and Chairman of Dubai World, Shaikha Lubna Al Qasimi, Minister of Development and International Cooperation, Dr Anwar Mohammed Gargash, Minister of State for Foreign Affairs and Minister of Federal National Council Affairs, and Dr Sultan bin Ahmed Sultan Al Jaber, Minister of State, who is also CEO and managing director of Masdar. “UAE-UK relations are improving, and three agreements will be signed between the two countries,” said Dr Anwar Gargash. The green bank is one such partnership and there is also an agreement on metrology, he said. Bilateral ties are looking good and the agreements will go a long way in cementing the relationship, the minister said. Britain’s Queen Elizabeth II (L) stands next to the President of the United Arab Emirates, His Highness Shaikh Khalifa bin Zayed Al Nahyan, during a Ceremonial Welcome in the town of Windsor, west of London, on April 30, 2013. The President began a two day State Visit to Britain on Tuesday where he is also expected to meet with British Prime Minister David Cameron. – AFP Speaking to Khaleej Times , Dr Sultan Al Jaber shed light on the proposed Green Investment Bank, which will finance green energy projects in Britain. It will grant suitable financing facilities for sustainable energy projects like the London Array Offshore Wind Farm project — the biggest wind-generating energy project in the world — which is 20 per cent owned by Masdar. The 2.3 billion British pounds mega development will be launched on July 5 and is now in its commissioning phase. Shaikh Khalifa begins his official visit on Tuesday on the invitation of Queen Elizabeth. This is the first official visit made by a UAE President to the United Kingdom since the late Shaikh Zayed bin Sultan Al Nahyan visited the country in 1989. The strong ties between the UAE and Britain have contributed to maintaining world peace, and bilateral trade is expected to reach Dh70 billion in 2015. Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan said: “We look forward to further focus on strengthening cooperation between the two countries and companies of the two parties in other places of the world, whether at the level of the economy or politics, defence or even on the level of assistance to developing countries.” Tourism between the two countries is booming and 50,000 Britons visit the UAE annually, according to statistics, while 100,000 British expats live and work in the country. The value of Emirati investments in Britain is worth more than five billion pounds and provides 35,000 jobs. “We aspire to a further influx of British companies and educational institutions. Britain can take advantage of the new opportunities available in Abu Dhabi and the rest of the UAE and to contribute at the same time as partners in the renaissance of our country,” Shaikh Abdullah said earlier. “We in the UAE are watching closely what is happening in Britain at the level of business and economics as well as the political level. That is important for us and we are working to identify more potential partners in the economic boom.” (With inputs from Wam) malzarooni@khaleejtimes.com Taylor Scott International