The Gulf region accounts for nearly $50.8 billion out of the estimated $57.2 billion annual trade between the UK and the Middle East.
The GCC-UK Trade Summit set out to further strengthen bilateral trade and investment ties and catalyse a new era of collaboration between the United Kingdom and the Gulf region.
High profile investors and experts from the United Kingdom and the Gulf region met virtually to explore investment opportunities and discuss ways to boost bilateral trade at the GCC-UK Trade Summit 2021.
“By bringing together investors and experts from diverse industry sectors on a common platform to discuss opportunities and build new relationships, the GCC-UK Trade Summit aims to lay the groundwork for trade and investment ties between the two regions to be taken to the next level,” said Abdulaziz Almugyteeb, Group CEO of add Group.
“The summit comes at a time when Saudi Arabia is hyper-accelerating its development program and radically upgrading and extending its tourism infrastructure in order to give a very qualitative experience to visitors, allowing them to easily get around and enjoy the region,” added Jerry Inzerillo, CEO, Diriyah Gate Development Authority (DGDA).
Aradhana Khowala, CEO & Founder, Aptamind Partners, UK & Chair of the Global Advisory Board, The Red Sea Development Company, KSA commented, “As we speak, the Red Sea Development Company is developing the largest battery storage facility in the world, ahead of Tesla. What I find most fascinating is that 89% of young Saudis believe that the country is moving in the right direction, which can only bode well for the social and economic future of the Kingdom.”
Speaking after his participation in the summit, Khalid Al Zayani OBE, Chairman, Bahrain British Business Forum (BBBF), said, “The event helped bring to light the untapped business potential of the region, and provided a platform for investors to explore how best to capitalize on emerging opportunities. Bahrain has three main pillars of industry – Aluminium, Petrochemicals, and Iron – and we have been seeing increased engagement with the UK in each of these areas.”
With the objective of charting a new era in bilateral trade relations, the GCC-UK Trade Summit 2021 is positioned to become the most prestigious forum for businesses and investors from the two regions to connect with each other, exchange ideas and experiences, identify opportunities for investment, and forge strategic partnerships.
