British Minister highlights keenness of UK to attract UAE investment

Vince Cable, British Secretary of State for Business, Innovation and Skills, has highlighted the keenness of UK Trade '&' Investment (UKTI), to strengthen bilateral trade relations with the UAE, especially in the goods and services sectors, to reach up to GBP12 billion by 2015, noting that the volume of trade and investment between the two countries in 2012 amounted to GBP10 billion. The visiting British Minister said that his two-day visit aims to strengthen trade relations between the two countries and encourage more foreign investment to the U.K.. He added that he seeks to encourage UAE investors and businessmen to direct their investments to his country by announcing the formation of Gulf Investment team affiliated to UK Trade '&' Investment (UKTI) under the auspices of the Ministry of Business, Innovation and Skills. He explained that the team management will be handled by a group of accountants from PricewaterhouseCoopers and the team will work to create 100 new investment opportunities. - Emirates News Agency, WAM