United in business
by This email address is being protected from spam bots, you need Javascript enabled to view it on Saturday, 23 February 2008
Hugo Berger examines why British firms see the Middle East as a fertile ground for expansion.
The UK can claim to have founded many of the construction techniques which have revolutionised the world.
From the world's first cast-iron bridge in the county of Shropshire, to the Channel Tunnel, the country has led the world in construction expertise for centuries.
Yet as planning regulations and lack of space led to a slowdown in the UK's indigenous building industry, companies inevitably began to eye up other parts of the globe.
One of the regions where this gaze has become most focused is the GCC.
Britain has had strong links to the area since its imperial heyday in the 18th and 19th centuries. And as the GCC's construction industry begins to make safety standards and quality issues its top priority, it is perhaps natural it would turn to its old ally for advice and guidance.
The UK and Dubai have had a mutual bond since an exclusive trade agreement was signed between the countries in 1892.
These were strengthened over the ensuing decades as commercial links led to Dubai becoming an important trading post en route to India and the Far East.
Britain may have lost its empire and Dubai may have grown from a small pearling port to a major financial hub, but the bonds seem to remain.
And as the rest of the UAE begins to seek its share of the growth, imports from Britain are helping fuel the boom.
In 2006, the last year figures are available for, exports from the UK to the UAE were at US $10.7 billion (AED 39.3 billion) making it the ninth biggest export market for the UK.
But with the dollar-peg creating a strong sterling, and a string of companies having already established themselves over here, many newcomers are not finding the UAE the licence to print money they had envisaged.
Terry Willis is managing director of the Energy Industries Council UK, which advises a number of construction companies in the oil and gas sector.
The council provides support to its members to help market their products at home and abroad.
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