(MENAFN- Mid-East.Info) Total non-oil foreign trade between the UAE and Scotland exceeded US$870 million in 2022
– HE Al Zeyoudi:“Owing to the continued commitment both from the UAE and Scotland to accelerate collaboration across priority sectors, it is clear there is ample scope for further growth in bilateral trade and investment.”
Abu Dhabi:
His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a virtual meeting with Neil Gray, Scotland's Cabinet Secretary for Wellbeing Economy, Fair Work & Energy, to review the latest collaborations between the two sides and discuss further areas of promise, especially in high-growth sectors such as food production, clean energy and advanced technology.
During the meeting, HE Al Zeyoudi commended the growing trade and investment ties between the UAE and Scotland and affirmed the UAE's commitment to accelerate business opportunities and joint ventures. He underscored areas of mutual benefit, including Scotland's advanced manufacturing and space science sectors.
The two officials discussed the Ministry of Economy's NextGenFDI program, and the market-access benefits it could lend to pioneering Scottish companies in fields such as robotics and fintech. HE Al Zeyoudi also shared the latest updates on the UAE's preparations ahead of COP28 in November this year and the avenues for cooperation it can offer enterprises operating in the green economy.
HE Al Zeyoudi said:“Owing to the continued commitment both from the UAE and Scotland to accelerate collaboration across priority sectors, it is clear there is ample scope for further growth in bilateral trade and investments. Through renewable energy company Masdar, the UAE has already collaborated on important projects in Scotland, such as the Hywind offshore wind farm, and as our demand for renewable energy grows, these kinds of partnerships will only deepen and expand. Scotland's economy is proving to be agile and forward-thinking and I look forward to more exciting collaborations in the years ahead.”
Non-oil foreign trade between the UAE and Scotland exceeded US$870 million in 2022, enjoying a growth rate of 70 percent compared to 2021. In the same year, Scotland accounted for almost 9 percent of the UK's total exports to the UAE, and 5 percent of the UK's total imports from the UAE.
This week's meeting is the latest in a series of engagements HE Al Zeyoudi has conducted with Scottish ministers and government officials over the past year. HE Al Zeyoudi has recently held a video conference with Scottish Minister for Business, Trade, Tourism and Enterprise, Ivan McKee, and led a UAE delegation to Scotland in December to discuss renewable energy projects amongst other areas of cooperation. During the visit, a joint working team was established to ensure continuity of agreed initiatives in areas of mutual interest such as clean energy, technology, food security, and industrial projects.