12 November 2018
Jersey’s Minister for External Relations is leading a delegation to the Middle East this week. Senator Ian Gorst will spend two days in the United Arab Emirates and one day in Bahrain.
The visit supports the aims outlined in the Common Policy on External Relations, and combines a range of commercial, governmental and strategic objectives. The programme of meetings seeks to promote Jersey’s international and cultural identity, and to strengthen business ties between the open, diversified and innovative economies in Jersey and the Gulf.
Senator Gorst said: “We are visiting major economies outside the EU to develop the Island’s reputation as a centre of excellence and as an outstanding place to do business. The Government of Jersey is committing to enhancing Jersey’s international profile, and to developing broad-based relationships with international partners based on shared interests. As we seek to expand our network of international agreements, we hope that our ties with this region will ensure a legacy of sustainable economic growth for future generations.”
The UAE visit will coincide with the launch of Jersey Finance’s new presence in the Dubai International Finance Centre, marking another milestone in the Island’s relationship with the UAE. Senator Gorst’s programme will include meetings with the UAE’s Minister of State for Finance, HE Obaid Al Tayer and with the British Consul-General in Dubai and British Ambassador in Abu Dhabi.
Jersey has already negotiated two Double Taxation Agreements (DTAs) in the Gulf and is hoping to negotiate its first Bilateral Investment Treaty (BIT) with the UAE. This is an indication of the strength and confidence in the commercial and political relationship. Expanding Jersey’s treaty network through agreements with partners, and strengthening people-to-people links, will further develop the Island’s economic capacity, and positive reputation in priority markets.
In Bahrain the Minister will meet the Ministry of Finance to progress negotiations on a Double Taxation Agreement between Jersey and Bahrain and a Memorandum of Understanding (MoU) on bilateral cooperation.