The President of the Union of Arab Chambers, President of the Bahrain Chamber of Commerce and Industry, Samir Nass, praised, during the speech, he delivered at the opening of the second Arab-British Economic Summit, the significant progress made in the negotiations of a Free Trade Agreement (FTA) between the United Kingdom and the Gulf Cooperation Council (GCC). The negotiations will significantly influence broadening bilateral economic prospects and work to stimulate business and trade between the Gulf Cooperation Council countries and the United Kingdom.
He hoped that more agreements would be implemented with other Arab countries to stimulate trade and maximize benefits for both sides.
Nass pointed out that "work is underway with the countries of the Gulf Cooperation Council and the United Kingdom to reach a comprehensive and modern free trade agreement suitable for the twenty-first century to contribute to economic growth at all levels."
He considered that "reaching the conclusion of a free trade agreement may result from a 16 percent increase in the volume of trade exchange between the United Kingdom and the Gulf Cooperation Council countries."
The summit was inaugurated with a minute of silence in honor of the late Queen Elizabeth II. The President of the Arab British Chamber Baroness Vernham Dean then delivered a speech, in which she expressed her great pleasure at the wide participation of all member states in this summit, and the importance it represents to strengthening economic relations between the United Kingdom on the one hand and various Arab countries on the other hand.
For his part, the Commercial Commissioner of the Government of King Charles III Simon Penny stressed, "The importance of this event as it pushes the wheel of trade cooperation and coordination between the United Kingdom and the Arab world. Especially in light of the ongoing negotiations to sign a free trade agreement between the United Kingdom and the Gulf Cooperation Council." He also spoke about the importance that the British Department of International Trade attaches to this agreement and the vital role played by the Arab British Chamber of Commerce in facilitating such agreements.
In turn, the President of the Qatar Chamber of Commerce and Industry and the First Vice-President of the Arab British Chamber of Commerce, Khalifa bin Jassim Mohammed Al Thani, pointed out the importance of this summit, which is held under the title “Developing a common vision”. Affirming that the coming period will witness more fruitful cooperation between the two sides. Especially in light of the common and firm desire to develop cooperative relations between the United Kingdom and the Arab world.
The Secretary-General and CEO of the Arab British Chamber of Commerce, Bandar Reda, stressed the “importance of this meeting, which contributes to strengthening the bonds of economic cooperation between the United Kingdom and the Arab world, given the promising opportunities that Arab countries are endowed with, especially in light of the transformational visions the region is witnessing at various levels.”
On the sidelines of the summit, a memorandum of understanding was signed between the British University in Egypt, represented by Dr. Mohammad Lotfi, and the Arab British Chamber of Commerce, represented by Secretary-General Bandar Reda. In the presence of the Egyptian Ambassador to the United Kingdom Sherif Kamel, Baroness Simmons Wernheim Dean and Secretary General of the Union of Arab Chambers Khaled Hanafi.
Working Sessions
The first working session was held under the title "Reactivating Arab-British Trade - New Trade Agreements". In this session, the founder of Cobra Bear, Lord Karan Pelimuria, Secretary General of the Union of Arab Chambers, Dr. Khaled Hanafi, CEO of Ras Al Khaimah Economic Zones Group, Rami Jallad, Executive Director of the Sharjah Foreign Direct Investment Office, Mohammed Juma, and Managing Partner of Al-Aqeel & Partners, Mark Srufim spoke.
The second session was held under the title "How Arab Vision Strategies Promote Growth and Adaptation Through New Infrastructure Projects and Sustainable Buildings", in this session, UVA UK CEO Darren Ward, Tokamak Energy CEO Chris Kelsall, Head of London Desk at The National Damian McIlroy and Head of Civil Affairs, Infrastructure and Energy at UK Export Finance Adam Harris spoke.
The third session dealt with how distance learning and digital learning facilitate knowledge exchange and educational inclusion. In which the President of King Abdullah University of Science and Technology “KAUST” Tony Chan, President of the British University in Egypt, Mohamed Lotfy, dean of London Business School François Ortalo Magni, Regional Director of Cranfield School of Management Imran Zouar Cambridge Education Partnership Charles Clarke spoke.
The fourth session dealt with the health sector and the speakers discussed how to accelerate the technical health sector and the work of e-health, and telemedicine. Speaking at the session were Tunisian British Chamber of Commerce President Jad Merabet, CEO of London Chamber of Commerce and Industry Richard Berg, Director at Octopus Investments Jess McCready, CEO of International Hospitals Group Chester King and Dr. Walaa Elmi on behalf of the company "Pfizer".
The fifth session dealt with "The Banking and FinTech Revolution - Enhancing Digital Collaboration: How the UK's Financial Services Sector Can Share Its Experience with the Rapidly Evolving Arab FinTech Sector". In this session, the Director General of British Chambers of Commerce, Shavon Haviland, Managing Director of "Arishi" Andrew Elia, founder, and CEO of the electronic "Paylatcom" company, Nasser Saleh, Commercial Partner at Giambrone & Partners LLP and President of the National Investment Commission (Iraq) Suha Najjar spoke.
Source (Union of Arab Chambers)
