Lord Mayor of London: increasing scope for development of “long-standing” economic ties with Kuwait

Lord Mayor of London: increasing scope for development of “long-standing” economic ties with Kuwait

Kuwait: Lord Mayor of London Vincent Keaveny said UK relations with Kuwait are “long-standing” through cooperation that dates far back, particularly on the economic, financial and investment-related spectrums.

Brexit has allowed the UK to “refocus” and to “rethink” its trade and investment strategy, and to unearth ways to “revitalise” these ties with the wider Gulf Cooperation Council, the Lord Mayor told KUNA in an interview.

The global COVID-19 pandemic has “held things back,” he added, underlining the need to move on to a new post-pandemic stage.

London’s status as the most important financial hub in the world, he said, has not been affected by Brexit, as it benefits from numerous advantages, including language, innovation and the ease of the movement of capital.

Britain’s capital has been able to create tens of thousands of jobs post-Brexit, especially in the field of innovation and technology, the Lord Mayor said, with employees in this field estimated at 2.3 million across the UK.

On the exchange rate drop of the pound last week and its impact on investment in London, he said, the government has now taken the necessary measures to recover and has learned the lesson that, when developing government economic policies, it must be certain that markets