Britain’s justice minister Lord David Wolfson said a new legal conference offers a key opportunity to deepen the business relationships between the UK and Middle East nations.
Mr Wolfson said the Middle East Legal Services Week, which kicks off on Wednesday, will see leading law firms from the Middle East connect with British experts in legal services in a boost to international collaboration between the two regions’ legal sectors.
“Over the past year, the region has seen rapid acceleration in areas such as construction arbitration, TMT [technology, media and telecoms] financial services, litigation and project finance,” Mr Wolfson, whose former career as a commercial lawyer saw him practise law as both counsel and arbitrator across the Middle East, told The National.
“There are many exciting opportunities to seize, all of which hold the promise of mutual future prosperity. This event provides an opportunity to deepen the relationship between the UK and countries across the Middle East, by connecting businesses in our respective nations to potential new partners – whilst exposing ourselves to new ideas and perspectives along the way.”
The UK has started formal steps for a free-trade agreement with Arab Gulf countries, as the two sides look to forge fresh links following Britain's exit from the European Union.
This week's legal conference is part of the Ministry of Justice’s international campaign, Legal Services are GREAT (LSAG), which aims to promote the strength of English Law, as well as Britain’s globally renowned independent judiciary and legal expertise in overseas markets.
The legal sector offers a significant economic benefit to the UK, representing 1.5 per cent of Britain’s total gross domestic product. It also provides employment for more than 330,000 people.
In 2019, the UK exported £140 million ($194m) in legal services to the UAE, £38m to Saudi Arabia, £25m to Israel, and £3m to Jordan.
At the three-day online summit, legal professionals from the UAE, Saudi Arabia, Israel and Jordan, among others, will hear UK experts discuss issues such as dispute resolution and cross-border transactions and meet representatives from the UK’s Law Society, Bar Council and leading legal firms, with the conference paving the way for a LSAG trade mission to Expo 2020 Dubai in November.
Mr Wolfson said Britain's “strong presence” at the UK Pavilion in the rescheduled Expo 2020 is an example of how its focus in the region goes beyond the legal sector.
He also pointed to “exciting projects” in Saudi Arabia as it strives to achieve its 2030 vision of diversifying the economy and reducing its dependence on oil, and seeks to establish a global financial centre.
“Of course the signing of the Abraham Accords has spurred a new wave of expanded business opportunities in and between Israel and the UAE in a wide range of sectors which rely on legal services”, Mr Wolfson said.
