Foreword from Louis Taylor, Chief Executive of UK Export Finance
I am pleased to welcome readers to this first IMA guide to doing business in the UAE, one of the world’s most dynamic and innovative markets.
UK firms – some of them supported by UK Export Finance – have already played a significant role in the diversification of the UAE’s economy beyond its core of oil and gas, to become the region’s major trade and transport hub. British architects, urban designers and construction firms have worked on many of the UAE’s flagship developments, from new business and retail districts to the various eye-catching tourism projects that have captured the world’s imagination.
At the heart of it is aviation: one of our most innovative initiatives to date, anywhere in the world, was our recent guarantee of a US$913m Sharia compliant sukuk bond issuance used to finance the purchase of Airbus A380 aircraft by Emirates. UKEF has also indicated its willingness to support some of the $30bn investment planned for the Al Maktoum International Airport project, generating further opportunities for UK suppliers.
As well as supporting loans to their buyers in the UAE, we continue to support UK firms and their banks with the trade finance guarantees and export insurance they need to export with confidence. Overall, we are committed to remaining a dependable partner to UK businesses as they help drive the UAE’s expansion. I hope this guide will prove useful to firms of all types and sizes as they look to become part of the next chapter of this exciting story.
Chief Executive of UK Export Finance
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