Abu Dhabi - The UAE-UK Business Council hosted its 20th Plenary Meeting in Abu Dhabi, co-chaired by Ahmed Al Sayegh, Minister of State, and Lord Udny-Lister.

The event commemorated the first anniversary of the signing of two landmark bilateral agreements: the UAE-UK Partnership for the Future and the Sovereign Investment Partnership.

The first of these aims to expand the bilateral economic relationship further in sectors such as technology, education, healthcare, and clean and renewable energy, with an emphasis on the two countries working together to address global challenges.

The Sovereign Investment Partnership between Mubadala and the UK Office for Investment has made significant investments in the technology, infrastructure, and clean and renewable energy sectors in the UK over the last year and plans to sustain this momentum of engagement over the remainder of the 5-year programme.

The Business Council announced it will support the Cherie Blair Foundation for Women as it invites more UAE-based business leaders to mentor women entrepreneurs in least developed countries.

The 100,000 Women Programme has already secured the participation of over 100 business leaders in the UAE, and it plans to scale this over the year ahead. Cherie Blair announced the new partnership with the Business Council in a keynote speech at the Plenary.

The importance of advancing decarbonisation was discussed at the meeting, and Majid Al Suwaidi, Director-General of the COP28 UAE Presidency, briefed council members on the priority themes of COP28, which will take place at Expo City Dubai in November 2023.

In support of this, the Business Council’s Energy Transition White Paper was launched at the Plenary Meeting to outline proposals for bilateral cooperation on energy transition. The paper will be submitted to both governments for consideration later this year. A new project on opportunities for UK-UAE collaboration on the decarbonisation of the built environment was also announced.

As it enters 2023, the UAE-UK Business Council will strengthen its mandate as a policy and advocacy organisation for business communities in both countries by establishing a permanent presence in the UAE and undertaking additional campaign-style projects.

Ahmed Al Sayegh commented, “The Partnership for the Future and the Sovereign Investment Partnership have both delivered significant outcomes in the year since they were launched, and the Plenary has given us the opportunity to consider where our priorities should lie over the years ahead. With one year to go until COP28, sustainability, decarbonisation, and the energy transition will present particularly strong opportunities for collaboration between the UAE and the UK.”

Lord Udny-Lister commented, “Our bilateral trade and investment relationship is becoming increasingly diverse, and new opportunities for collaboration are emerging in sectors that are rich in technology and innovation. The role of the UAE-UK Business Council is to develop and share knowledge on these trends so that the great potential unleashed by The Partnership for the Future and the Sovereign Investment Partnership can berealised”.