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Sat 24 Jan 2015 01:58 AM

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City of London Lord Mayor eyes closer financial ties with UAE

Alderman Alan Yarrow to visit Dubai and Abu Dhabi; says UK is ready to support UAE's ambitious plans

City of London Lord Mayor eyes closer financial ties with UAE

The Lord Mayor of the City of London is set to visit the UAE this weekend to meet with senior government and business leaders.

Alderman Alan Yarrow will be in Dubai and Abu Dhabi on January 24-26 with the aim to make sure that the UK remains the regional partner of choice when it comes to financial and professional services.

Acting as ambassador for the UK's financial and professional services, Lord Mayor Yarrow will meet members of the ruling families, senior members of the government, the governor of the Central Bank, investment authorities and senior business leaders.

The Lord Mayor will be joined by a wide ranging business delegation from the UK which includes senior representatives from investment banks, asset managers, insurers and law firms, a statement said.

Speaking ahead of his trip, he said: "Bilateral relations between the United Arab Emirates and the UK have never been stronger. As the country looks to diversify their economy, the UK stands ready and willing to support the UAE with their ambitious plans.

"Our financial and professional services firms across the UK have a wealth of expertise and experience in a wide range of financing options which can help the two-way flow of capital. I hope that this closer economic relationship means that the UK remains the partner of choice for the UAE on the global financial stage."

On top of his business meetings the Lord Mayor will give a speech at an Institute of Chartered Accountants in England and Wales event at Emirates Tower and an address at a Cass Business School reception on the merits of education, training and qualifications.

The visit to the UAE forms part of a wider 12-day visit to the Gulf which ends on January 28.

The Lord Mayor is head of the Square Mile's City of London authority for one year and the position is unpaid and apolitical. The role represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well.

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