Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, carried out an official visit to the UK on Thursday to launch a new era in ties between the two countries.
UK Prime Minister Boris Johnson hosted Sheikh Mohamed at 10 Downing Street in central London for a wide-ranging discussion and launch of a Partnership for the Future between the two nations.
"The Prime Minister congratulated the United Arab Emirates on the fiftieth anniversary of its founding in 1971," a joint communique from the meeting declared.
During the visit they went to nearby Horse Guards Parade to review a military guard of honour before attending a UK-UAE business reception and a lunch.
Sheikh Mohamed looked forward to another half century of close relations with the UK.
"One of the most important aspects of our developmental projects for the next 50 years is promoting developmental partnerships with various countries of the world, especially with the UK," said Sheikh Mohamed.
The UAE and the UK have agreed to establish a "Partnership for the Future" based on two main pillars: driving sustainable prosperity and addressing global issues.
The UAE’s Minister of Foreign Affairs and International Co-operation and the UK’s Foreign Secretary will co-chair an annual strategic dialogue to review and drive progress, and promote multilateralism.
The two countries said they would work closely together during the UAE's 2022-2023 term as a member of the United Nations Security Council. It was noted that Britain's historic ties and strategic interests with the Gulf region and the Middle East grant the UK a significant role in ensuring security and stability of the region.
The partnership is a launch pad for enhancing trade, investment and innovation. The meeting reviewed co-operation in areas such as life sciences, innovation, energy, illicit finance, education, security, development, culture, climate, health and food security.
In a series of messages on Twitter, Sheikh Mohamed said the visit would strengthen the UAE's international relationships and deepen co-operation with the UK.
The two men witnessed the signing of economic agreements at the residence of the UK's head of government.
“I was pleased to meet Prime Minister Boris Johnson for in-depth talks in London today,” Sheikh Mohamed said.
“Together, we discussed ways of further strengthening the robust [and] long-standing strategic ties between the UAE and the UK and other areas of mutual interest in the region and around the world.”
Mr Johnson paid tribute to the role of the UAE in the recent events in Afghanistan as the country helped with evacuations when the Taliban took over in Kabul last month.
The British leader spoke in the Pillared Room at Downing Street before an audience of business leaders, bankers and senior politicians, including new International Trade Secretary Anne-Marie Trevelyan.
“The evacuation of British nationals from Afghanistan would not have been possible without the friendship and support of the UAE. So today, I would like to say a big, big thank you to you,” Mr Johnson said.
“This relationship is of huge importance to me personally.”
Mr Johnson said that the investment deals signed by the two countries constituted a groundbreaking partnership.
“This new sovereign investment partnership is different in scale and ambition to any other.
“We are seeing the UK and UAE doing things together and a great fusion of our efforts,” he said.
“If this relationship is the Burj Khalifa we are currently just at the ground floor, but today we are taking it up to the top floor.”
Mr Johnson said that a low-carbon future was a shared objective. “We will tackle problems like Covid and climate change together. This is a synching of the UK’s and UAE’s long-term objectives,” he said.
“I am very excited by the partnership.”
Before the meeting, Mr Johnson told The National that the discussions would build on the “long and rich history to the benefit of both our people".
“The UK and the UAE are natural partners and allies, with a shared belief in harnessing the technologies of the future to address climate change, solve global issues and deliver prosperity for our people,” he said.
“I look forward to welcoming His Highness Sheikh Mohamed bin Zayed to London today to drive this agenda forward.
“There is a huge amount we can do together as we work to build back better from the pandemic.”
The trip comes after Sheikh Mohamed met French President Emmanuel Macron near Paris on Wednesday.
Mr Johnson said Thursday's meeting would secure investments across the UK in life sciences, technology, energy transition and infrastructure.
This would support jobs and his government’s agenda to “level up” – to increase prosperity in poorer regions – across the UK.
Both sides would welcome an ambitious partnership that set a broad foundation for future co-operation, drove progress in science and innovation and supported security and prosperity, he said.
The partnership will be underpinned by annual UK-UAE Strategic Dialogues, beginning this year and chaired by the foreign ministers of both sides.
Illicit finance, education, security, development, culture, climate, health and food security were on the agenda.
The coming Expo 2020 Dubai was an opportunity for the UK to raise its profile in the region. "We are confident that Britain's participation will pave the way for more opportunities for economic and development partnership between our two countries," said Sheikh Mohamed. "In the UAE, we seek to make this event a turning point on the road to promoting global economic recovery, establishing global partnerships, and finding common ground to confront global challenges."
With a framework for investments stretching over five years, the UK and UAE will jointly pursue ambitious net-zero targets that “turbocharged” the clean energy transition.
The UAE is already a key partner for the UK, with total trade between the two countries worth £18.6bn and joint investment flows of £13.4bn in 2019.
“The UAE and the UK share a long and rich history, but with today’s agreement we are looking to the future,” Mr Johnson said.
“By working ever more closely together, our nations will be at the forefront of the industries of the future, helping to tackle climate change and boost prosperity.
“Ambitious partnerships like this are central to the government’s strategy to be a leading global force in science and technology, driving major investments to level up across the UK and create high-value jobs,” he said.
“We will turbocharge this at next month’s Global Investment Summit in London.”
Sheikh Mohamed last held talks with Mr Johnson at Downing Street last December, when they discussed the importance of maintaining peace and stability in the Middle East.
Watch: Sheikh Mohamed bin Zayed begins official visit to the UK
Who are the Soroptimists?
The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.
The organisation said its name is best interpreted as ‘the best for women’.
Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Villains
Queens of the Stone Age
Matador
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
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Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
The Pope's itinerary
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
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Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Sholto Byrnes on Myanmar politics
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
More on Quran memorisation:
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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