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| London And Dubai Explore Financial Synergies |
by Amanda Banks, Tax-News.com, London
Wednesday, February 10, 2010
The Lord Mayor of the City of London, Nick Anstee, led a business delegation
to the United Arab Emirates on February 7-9, 2010, as part of a longer visit
to the Gulf region. While on the visit Anstee will underline the UK’s
commitment to the UAE and the Gulf and highlight investment opportunities between
both regions.
He began his UAE visit with a full day at the Dubai International Financial
Centre (DIFC), where his agenda included meeting with Ahmed Humaid Al Tayer, the Governor
of the DIFC; attending a working lunch hosted by the Dubai Financial Services
Authority on the issue of regulation; speaking during an Institute of Chartered
Accountants in England and Wales graduation ceremony; participating in a colloquium
held in his honour on the role of courts and arbitration in the global economic
recovery; and attending a British Business Group reception held in conjunction
with the Cass Business School, City University London, which has a Dubai campus
at the DIFC Centre of Excellence.
“London remains a leading financial centre and although events over the
last year have shaken financial markets London is making a good recovery with
equities, foreign exchange, insurance, marine and commodities trading moving
ahead. We of course continue to welcome investment from UAE companies and on
this visit I will be encouraging UAE-based financial institutions to look to
London as a partner to raise capital and do business,” Anstee commented during the visit.
“Our relationship with the UAE remains a critically important one and
on this visit I hope to build on that relationship.”
Welcoming Anstee at the DIFC, Al Tayer, added:
“Events over the past two years have only highlighted the importance
of building deeper collaborations and linkages among leading international financial
centres. Anstee’s visit to the UAE is an example of these efforts on a
bilateral level, while also serving to highlight the increased cross-border
business opportunities that the new global realities offer companies in our
two countries. With this in mind, it pleases us to welcome Anstee and the accompanying
delegation in this visit to DIFC which was chosen by many leading UK financial
institutions as their regional headquarters. The MENASA region has huge potential
for growth as it hosts powerful emerging economies; and the business delegation
members are invited to explore these opportunities.”
Anstee was accompanied by a large business delegation that includes senior
representatives of investment banks, asset managers, insurers and law firms.
He met with policy makers, finance chiefs and business leaders during
his visit.
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