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Top UK trade official sees scope for more joint ventures

ABU DHABI - The United Kingdom is one of the fastest growing economies within the European Union (EU) with one of the lowest tax burdens that makes it attractive for drawing Foreign Direct Investment (FDI) into the country, chief executive of UK Trade and Investment Stephen Brown said in the capital yesterday.

Addressing a meeting of the British Business Council at the Hilton Hotel, he said that the economy of UK has been growing at a highly appreciable rate since 1997, that has transformed it into a prime location for business.

Mr Brown who has been a diplomat working on political issues in Mexico, Cuba and Central America and subsequently on the BBC World Service, said that his organisation has been working on 'targeted information to promote trade and commerce at the micro-economic level.'

"We pride ourselves as a knowledge-transfer organisation, serving to contribute in good measure to business-related areas where we can up the value-added component to the chain of businesses, in the fond hope that we have rich neighbours and reap rich dividends," he remarked.

Mr Brown sought global enterprise to take initiatives in the UK, not only for selling their products and services, but to serve in the areas of technology-related transfers.

Mr Brown who conceded that he is not so very familiar with the business ambience of the Gulf region, averred that there appeared large scope for forging ahead with joint ventures.