x Abu Dhabi, UAEFriday 19 January 2018

Delegation from London to ask for UAE support

The Lord Mayor of the City of London is to head a high-level delegation seeking support from business and government.

ABU DHABI // The Lord Mayor of the City of London is to head a high-level delegation to the UAE seeking support from business and government. A 20-strong delegation representing British investment banks, law firms and insurers arrives on Saturday to spend three days in Dubai and three in Abu Dhabi, where they will meet business leaders and government officials. They will be led by the Lord Mayor, Ian Luder, whose key responsibility is to head trade delegations from the City across the globe. His position is entirely separate from that of the Mayor of London, a role currently occupied by Boris Johnson, who heads the Greater London Authority.

Mr Luder said: "Our relationship with the UAE is hugely important and, on this visit, I hope to continue building on that relationship. "I look forward to sharing our experience of Islamic finance in the City, and also encouraging UAE-based financial institutions to look on London as a partner in business. "The visit comes at a critical time. In recent months, global financial markets have been rocked by the credit crisis, which has spread around the world.

"Now, as we begin to rebuild market confidence and financial stability, the value of trusted and close relationships, such as that between the UK and the UAE, are more important than ever." The delegation will visit the Governor of the Central Bank, Sultan al Suweidi, and Salah al Shamsi, the president of the Abu Dhabi Chamber of Commerce and Industry, before leaving on a similar visit to Qatar and Saudi Arabia.