CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.

London And Dubai Explore Financial Synergies

Wednesday, February 10, 2010

The Lord Mayor of the City of London, Nick Anstee, led a business delegation to the United Arab Emirates on February 7-9, 2010, as part of a longer visit to the Gulf region. While on the visit Anstee will underline the UK’s commitment to the UAE and the Gulf and highlight investment opportunities between both regions.

He began his UAE visit with a full day at the Dubai International Financial Centre (DIFC), where his agenda included meeting with Ahmed Humaid Al Tayer, the Governor of the DIFC; attending a working lunch hosted by the Dubai Financial Services Authority on the issue of regulation; speaking during an Institute of Chartered Accountants in England and Wales graduation ceremony; participating in a colloquium held in his honour on the role of courts and arbitration in the global economic recovery; and attending a British Business Group reception held in conjunction with the Cass Business School, City University London, which has a Dubai campus at the DIFC Centre of Excellence.

“London remains a leading financial centre and although events over the last year have shaken financial markets London is making a good recovery with equities, foreign exchange, insurance, marine and commodities trading moving ahead. We of course continue to welcome investment from UAE companies and on this visit I will be encouraging UAE-based financial institutions to look to London as a partner to raise capital and do business,” Anstee commented during the visit. “Our relationship with the UAE remains a critically important one and on this visit I hope to build on that relationship.”

Welcoming Anstee at the DIFC, Al Tayer, added:

“Events over the past two years have only highlighted the importance of building deeper collaborations and linkages among leading international financial centres. Anstee’s visit to the UAE is an example of these efforts on a bilateral level, while also serving to highlight the increased cross-border business opportunities that the new global realities offer companies in our two countries. With this in mind, it pleases us to welcome Anstee and the accompanying delegation in this visit to DIFC which was chosen by many leading UK financial institutions as their regional headquarters. The MENASA region has huge potential for growth as it hosts powerful emerging economies; and the business delegation members are invited to explore these opportunities.”

Anstee was accompanied by a large business delegation that includes senior representatives of investment banks, asset managers, insurers and law firms. He met with policy makers, finance chiefs and business leaders during his visit.