The United Kingdom has long promised to be the best country in the world to do business, and I am proud to say we are delivering on that. Recent months have seen our economy receive two significant votes of confidence: a landmark Free Trade Agreement with India—the fastest growing economy in the G20 — and becoming the first country to secure an economic deal with the Trump administration. These achievements underscore the UK’s position as the most open, stable, and connected economy in the world. But what truly sets us apart is our approach to growth — one that we are building not just for you, but with you.
My initial appointment to the United Arab Emirates, as Consul General to Dubai and the Northern Emirates in 2012, afforded me a profound appreciation of the intertwined historical relationship between the United Kingdom and the United Arab Emirates. It is a rare privilege in diplomatic service to return to a nation in a more senior capacity, and I am honoured to now serve as His Majesty’s Ambassador to the UAE.
Today’s UK and UAE relationship reaches back more than two hundred years. Those original agreements to secure vital trade routes have flourished into a thriving partnership which is about far more than the exchange of goods and services.
The ever growing, British community in the UAE is proud of its contribution to the UAE’s story, and personal and cultural ties are critical to this across numerous sectors, nowhere more so than in the field of financial services.
Financial services at the heart
The UAE-UK financial relationship is built on deep historical foundations pre-dating the UAE’s Union in 1971. British banks were among the first international financial institutions to establish operations in the UAE, creating a foundation for cross-border banking relationships that continue today. Investment quickly started to flow in both directions. The financial centres of Abu Dhabi Global Market and Dubai International Financial Centre were built on a UK model, with English Common Law at their core.
Earlier in May, the Lord Mayor of London visited the UAE with a delegation which included representatives from Howden, Aberdeen, KPMG and Guavapay, a global fintech company. Capital markets and professional services continue to provide a promising area for UK-UAE financial cooperation, with the London Stock Exchange positioned to attract more landmark UAE listings beyond Masdar’s green bonds and ADQ’s multi-billion-dollar offerings. The UAE’s introduction of corporate tax and evolving sustainability requirements increases demand for specialised UK accounting expertise, particularly in ESG reporting and AI-powered financial management.
Both the UK and UAE are leaders in the fintech revolution with British innovators like Smart, Checkout.com, and Wise engaged in modernising banking solutions throughout the Emirates, with the UK’s fintech expertise complementing the UAE’s digital transformation agenda.
Growth means growth for all
Growth is the UK government’s top priority. The UK has major strengths to build on, such as world leading research institutions, a strong and predictable regulatory system with a world respected judiciary, a pro-entrepreneurial environment, a highly skilled workforce, and an historic openness to investment. The UK’s tech-driven, innovative economy with more unicorns than Germany and France combined. There are more people working in the finance and professional services sector in London than live in Frankfurt.
In May this year, the UK and India signed a free trade deal that cut levies on 90% of British products sold in the country and is expected to increase bilateral trade by $34 billion a year from 2040. Days later across the Atlantic, the story of our success continued with the UK securing the first US trade deal protecting British business and British jobs. Two weeks later a third major deal, with the European Union, was struck supporting British businesses, British jobs, and increasing the attractiveness of the UK as an economic partner. Here in the Gulf, we hope to continue this success and remain committed to completing a Free Trade Agreement with the Gulf Cooperation Council.
A new era of opportunities
Financial Services and Professional and Business Services are two of the eight priority areas for our Modern Industrial Strategy which also includes life sciences, advanced manufacturing, clean energy and digital and tech. The aim is to fundamentally shift how the government works with business to drive economic growth.
We will work directly in partnership with businesses, including the 5,000+ British companies operating here in the UAE and Emirati investors with interests in the UK. For UAE investors and businesses these sector plans offer clear pathways, developed in collaboration with industry experts who understand their needs and priorities.
This is a moment of opportunity. As we implement our Industrial Strategy, we invite UAE businesses to join us in shaping the future of our economic relationship.