UAE, UK trade rises 12% to over $22bn in 2017

UK-UAE trade boost announced as UAE minister Sheikh Abdullah bin Zayed Al Nahyan makes official visit
UAE, UK trade rises 12% to over $22bn in 2017
By Sam Bridge
Tue 04 Sep 2018 02:20 PM

Total trade between the UK and UAE rose by over 12 percent to £17.5 billion ($22.4 billion) in 2017, it was announced during an official visit by Sheikh Abdullah bin Zayed Al Nahyan, the UAE's Minister of Foreign Affairs and International Cooperation.

Last year, UK exports to UAE amounted to £11.1 billion while UK imports from the UAE were £6.4 billion as the UK reported a trade surplus of £4.7 billion.

Of all UK exports to the UAE in 2017, £7.6 billion (68.8 percent) were goods and £3.5 billion (31.2 percent) were services.

Of all UK imports from the UAE, £4.3 billion (66.8%) were goods and £2.1 billion (33.2 percent) were services, according to the figures.

During his visit to the UK, Sheikh Abdullah met with Sajid Javid, the UK's Home Secretary, to discuss ways to further boost bilateral relations between the two countries, especially in the security and consular fields, state news agency WAM reported on Tuesday.

Sheikh Abdullah reiterated the UAE’s firm stance in rejecting extremist ideas and combating extremism and terrorism in all its forms and manifestations, WAM said.

It added that Javid welcomed the visit of the UAE Minister, noting the importance of strengthening and enhancing relations of mutual cooperation and friendship with the UAE in various fields.

Javid also hailed the UAE's important role in promoting international peace and security and combat extremism and terrorism, WAM said.

Sheikh Abdullah also met with a delegation of British investors, as part of his official visit.

The meeting discussed ways to develop aspects of joint cooperation between the two countries in various fields for the benefit the peoples of the two countries.

Sheikh Abdullah highlighted the UAE's interest in enhancing the volume of joint investments with the United Kingdom.

UK relations with the UAE are witnessing continuous development in various fields, especially economic, investment, educational, cultural and social fields, WAM added.

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