13 July 2020
The Minister for External Relations, Senator Ian Gorst, has today hosted a webinar on growth and partnership opportunities between the United Arab Emirates (UAE) and Jersey. The UAE Ambassador to the United Kingdom, His Excellency Mansoor Abulhoul, joined Senator Gorst to discuss the UAE’s plans for post-COVID economic recovery.
The webinar advised Jersey companies on how to do business in the UAE, and on the commercial opportunities available as its economy begins to rebuild following the Covid crisis.
Following today’s webinar, the two governments have announced several joint initiatives:
- Jersey and the UAE are working together to negotiate a Bilateral Investment Treaty which, when signed, will be Jersey’s first such Treaty and will help boost investment flows in both directions over the longer term.
- the Government of Jersey has worked in partnership with the UAE Embassy, London, the Ministry of Economy, UAE to set up a business-to-business matchmaking service to help Jersey companies enter the market. 11 companies have already signed up, and several others have expressed interest in joining the programme.
- a Jersey Diaspora Group, set up in UAE in March this year, is aiming to build a community network. They have a strong online presence, and plan to host events to bring the community together.
Today’s webinar focused on financial services, the digital industry (particularly fintech, blockchain and cryptocurrencies) and food and drink, offering practical advice on market entry.
Several Jersey companies from a range of sectors are aiming to expand their presence in the area, and the recently established Jersey Diaspora Group is aiming to create a stronger sense of community among Jersey Expats in the UAE.
Jersey Finance have their Middle East hub office in the Dubai International Finance Centre, and there are 26 Jersey financial services firms operating in the UAE. More than 40 companies do business in the UAE by making regular visits to the country.