Published January 31, 2024

2 minute read

Welcome Address – Investopia Global Talks – UK

At the recent Investopia Global Talks in the UK, key figures from the UK and UAE financial sectors gathered to discuss the strengthening relationship between the two nations and their joint efforts towards sustainable economic growth.

Session Speakers: 

H.E. Abdulla Bin Touq

H.E. Abdulla Bin Touq

Minister of Economy, United Arab Emirates

Rt Hon. Bim Afolami MP

Rt Hon. Bim Afolami MP

Economic Secretary to the Treasury

Rt Hon. Lord Mayor, Michael Mainelli

Rt Hon. Lord Mayor, Michael Mainelli

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Key Takeaways

  • The UK and UAE are emphasizing their commitment to achieving net zero, with private finance playing a significant role. The upcoming Net Zero Summit in London highlights this focus.
  • The UK-UAE partnership is growing, evident from a 50% increase in total trade. This growth is supported by a Memorandum of Understanding (MOU) aiming to deepen collaboration in financial services.
  • Both nations are home to leading fintech hubs, and there's a keen interest in joint innovation and opportunities in green finance, especially following the UAE's hosting of COP28.
  • The UAE launched Investopia to drive growth in emerging industries. The platform aims to foster economic prosperity through public and private market collaboration and sustainable initiatives.

At the recent Investopia Global Talks in the UK, key figures from the UK and UAE financial sectors gathered to discuss the strengthening relationship between the two nations and their joint efforts towards sustainable economic growth.

Rt Hon. Lord Mayor Michael Mainelli of London emphasized the pivotal role of private finance in supporting environmental, social, and governance (ESG) ambitions. He highlighted the upcoming Net Zer Summit in London as a significant event, showcasing the UK’s commitment to sustainable finance. Mainelli also expressed optimism about the growing UK-UAE partnership and its potential to drive the transition to net zero.

Rt Hon. Bim Afolami MP, the UK’s Economic Secretary to the Treasury, spoke of the increasing economic ties between the two countries, citing a 50% increase in total trade to £25.5 billion. Afolami pointed to the MOU between the nations as a framework for expanding this trade and emphasized the importance of capital markets in allocating capital and facilitating investment. He also noted the UK’s wide-ranging financial reforms, comparing the current environment to the economic renaissance of the 1980s.

The UK’s stance on innovation, particularly in fintech and green finance, was a focal point of Afolami’s address. He highlighted the UK and UAE’s position as prominent fintech hubs and expressed eagerness to explore more joint innovation opportunities. With both countries committed to achieving net zero by 2050, Afolami underscored the urgency of this target and the need for global action and standards in green finance.

From the UAE’s perspective, H.E. Abdulla Bin Touq, Minister of Economy, reflected on the long-standing cooperation between the two nations. He emphasized the multidimensional ties and the recent MOU as critical steps toward a sustainable future. Bin Touq also noted the significant role of Investopia, launched as part of the UAE’s ‘projects of the 50’ initiative, in driving future economic growth and fostering collaboration in key areas such as fintech, open banking, and sustainable finance.

The event marked a significant step in deepening the financial relationship between the UK and UAE. It underscored the commitment of both nations to not only enhance their economic ties but also to lead the way in sustainable and innovative financial practices.

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