I know from my time as Deputy Prime Minister of the United Kingdom that the ties between Britain and the UAE are deep and multi-faceted. Our unique bond dates to the very formation of the Emirates in 1971, and it still holds strong today.
Our work together spans life-saving co-operation on intelligence, defence and security, through joint diplomatic initiatives at the UN on hunger and access to education, to climate change, finance and AI regulation.
It is also a driver of our prosperity. The UK-UAE Sovereign Investment Partnership has supported thousands of jobs in every part of the UK, from Northern Ireland to Northumbia, from Scotland to Somerset. Take just one example: Manchester City Football Club. Backed by the Abu Dhabi United Group, Man City’s performance on the pitch last season was matched by record revenues and profits. But beyond the pitch, the Manchester Life partnership between the club’s owners and Manchester City Council is delivering a £1 billion ($1.35bn) urban renewal project, reclaiming land and building 6,000 homes — a living example of community benefit.
For me, at the heart of any relationship between two nations is the relationship between its people. Millions of people travel between our countries every year from Brits holidaying in Dubai to Emiratis soaking up London’s shops, restaurants and cultural life. But it’s so much more than this. British businesses are abuzz with the opportunities the UAE presents and Emiratis have known for decades the UK is a rock-solid, safe place to invest with free markets, the rule of law and an open business environment.
As a former Cabinet Minister, I know that private exchange is strengthened by bonds at every level of government. I certainly value my relationships in the UAE enormously. They ensure stability, continuity and mutual understanding at times of stress. We are fortunate that the ties between our two royal families are deep and generational. Likewise, I was pleased to see an early visit by our new Prime Minister, Keir Starmer, to the UAE building on those by his Conservative predecessors.
There is also a significant role deepening parliamentary understanding between our countries as we look to strengthen our relationship even further. That is why I have established a new UAE All Party Parliamentary Group. This will seek to foster collaboration and understanding with a particular focus on trade and investment, technology and innovation, and climate and sustainability.
The new group brings together Parliamentarians from across the political divide such as former Home Secretary Lord Blunkett, who knows of the important security partnership, to newly elected rising stars like Samantha Niblett who understands the critical need for regional investment in areas such as technology and AI. In this way, it will help create stronger political understanding of the UK-UAE relationship for a wider pool of policymakers in the UK.
Such ties enable us not just to celebrate success but to have open and frank exchange about areas where we do not agree. This includes challenging about where we need to do better. For me, the recent visit by US President Donald Trump was a clear demonstration of how other nations are not standing still. The UK should not complacently assume that historic ties and existing strength automatically continue. We need to work together on this exciting next chapter of our relationship.
The UK has recently concluded trade deals with India, the USA and EU. Trade and investment are surging in the Gulf, as it solidifies its position as a global hub with the UAE at the core. This is something Mr Trump recognises. We should likewise make concluding the UK-GCC Free Trade Agreement our next priority.
While we have a strong investment partnership, we can be more ambitious. As I set out in a speech to the UN General Assembly, I believe the transformational effect of artificial intelligence will be somewhere between the discovery of fire and the discovery of electricity. British university and entrepreneurial capability in AI is only surpassed by the US and China. Likewise, the UAE is now a clear global leader and innovator in AI.
The UK and UAE have already undertaken meaningful work to shape AI, and the UK was grateful when the UAE provided clear support for our flagship AI Safety Summit. However, there is much work to be done. A vibrant UK partnership with the UAE can unlock huge economic value and job opportunities.
Financial services have long been a bedrock of the UK economy, with London and New York continuing to lead the world as global financial centres and the UK demonstrating great strength in fintech. The UAE is clearly established as a strong financial services hub with rapid growth. This creates possibilities for developing dual listings, passporting frameworks, innovation corridors and venture capital match funding.
There are plenty more such opportunities but the one thing we can be sure of is that the rest of the world is not standing still. This is a seminal moment in our relationship. It’s time to take it to the next level.
