Kuwait, UAE among fastest growing markets for UK services

Kuwait, UAE among fastest growing markets for UK services

LONDON: Kuwait and the UAE are among the fastest-growing markets for UK services globally, the Lord Mayor of the City of London William Russell has confirmed. Russell said that British innovation in green and digital are huge opportunities for further collaboration for Kuwaiti investors.

"We look forward to continuing to work with them in the years ahead and see a bright future for our ongoing trade relationship,“ the Lord Mayor said. He estimates current investments from the GCC nations, namely from Kuwait, Bahrain, Saudi Arabia, Qatar, and the UAE greater than 140bn Sterling ($195 billion- current exchange rate), adding that the City continues to welcome these investments into green infrastructure programs. Accordingly, future investments seem to be heading more toward green finance and fintech.

Russell recently held discussions with senior figures in Kuwait and elsewhere in the Gulf on an array of topics, but mainly in terms of green investment in the lead-up to COP26, which will take place here in the UK next November. Unsurprisingly, he considers the prospect of an eventual trade deal with the GCC, which would collectively make it a bigger trading partner for the UK than China as a giant step forward.

On Kuwaiti investment, Russell expressed his