UAE Minister of Foreign Trade calls for sustained international trade during British Business Group Meeting

The gathering was also attended by representatives of the American, Australian, Canadian, South African and Swiss Business Councils.

Present during the event were Peter Michelmore, Chairman of the British Business Group - Abu Dhabi, and British Ambassador H. E. Edward Oakden. Also attending were John Habib, President of the American Business Council; American Ambassador H.E. Richard G. Olson; Kelvin Templeton, Chairman of the Australian Business Group; Australian Ambassador H.E. Jeremy Bruer;'Jack Matar, Chairman of the Canadian Business Council and Canadian Ambassador H.E. Sara Hradecky; South African Ambassador H.E. Yacoub Abba Omar; and Jean-Marc Suter, President of the Swiss Business Council.

The Minister spoke about the crucial role of international trade in the economic viability of developing countries that depend on commodities. She also lauded international movements as well as organizations such as the World Trade Organization that have been responsible for promoting more trade while discouraging protectionism amidst the current financial crisis.

"As the UAE's Minister of Foreign Trade, I call on our partners to sustain our trading and commercial activities so that we can continue to invigorate the global markets. Now more than ever, the world needs steady economies such as ours to spread a spirit of cooperation and positivism vital to our collective triumph over today's financial crisis. This view motivates us to further engage in productive regional and international dialogue," said H.E. Sheikha Lubna.

H.E. Sheikha Lubna discussed the UAE's robust commercial relations with its international partners. She particularly mentioned the phenomenal 1,970% annual growth rate in Swiss exports from 2004 to 2007 and 47% hike in Australian imports for the same period. The Minister also referred to the UAE's importation of $3.16bn worth of goods and services from the US in 2007 and the existence of more than 40 Canadian enterprises in the country. Finally, she stated that UK exports climbed an annual average of 6% to $91.74m while imports swelled 18% to $4.63bn for the four-year period.

The British Business Group promotes trade and contacts between Britain and Abu Dhabi and the UAE and assists British businesses leveraging the Abu Dhabi's ambitious growth plans. The Group provides a networking environment for both new and longer-standing British residents of Abu Dhabi so that they can expand their local contacts and further assimilate into the capital's highly progressive and vibrant community.

"Abu Dhabi has already initially allocated in excess of $10bn dollars for key infrastructural projects in the coming years. Ultimately, the Abu Dhabi Government intends to establish the city as a global capital based on Arab community values. Abu Dhabi-based British companies and interests, who for so many years have been integral to the area's growth, will be primary beneficiaries of this ambitious movement towards sustainable progress," added H.E. Sheikha Lubna.