Ras Al Khaimah, UK Government Enhance Partnership in Trade and Investment Sectors

Post by: Raman Preet

Photo : Government Of RAS Al Khaimah

In a significant step toward deepening economic ties, Ras Al Khaimah and the UK Government have signed a growth partnership agreement, aiming to expand trade and industry cooperation across several sectors. This agreement was signed in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, His Highness Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, and the Rt Hon Jonathan Reynolds MP, UK Secretary of State for Business and Trade and President of the Board of Trade.

The formal signing ceremony took place at Ras Al Khaimah, with the agreement between Ras Al Khaimah’s Investment and Development Office (IDO) and the UK Government’s Department of Business and Trade. It was signed by Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of the IDO, and His Excellency Oliver Christian, His Majesty’s Trade Commissioner for the Middle East and Pakistan and His Majesty’s Consul General to Dubai and the Northern Emirates.

The newly signed memorandum of understanding sets a clear path for both sides to explore opportunities for enhanced collaboration. According to the terms of the agreement, the two parties aim to foster industrial growth and facilitate two-way trade between Ras Al Khaimah and the UK. While trade is the core focus, the agreement also highlights the potential for partnerships in other fields such as education, culture, heritage, and major development projects in Ras Al Khaimah.

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Sheikh Khalid bin Saud Al Qasimi expressed his optimism about the agreement, stating that it marks a major milestone in Ras Al Khaimah’s commitment to building strong international partnerships that support economic growth and innovation. “This growth partnership agreement will not only enhance trade relations but will also allow for collaboration in diverse sectors, benefiting both our economies and communities by promoting shared knowledge and cultural exchange,” Sheikh Khalid said.

He added that the agreement reflects Ras Al Khaimah’s vision for a prosperous future, where both the UK and the emirate can leverage their respective strengths to create sustainable growth opportunities. "We look forward to discovering new avenues that will empower businesses and foster a dynamic environment for innovation and development," he added.

Jonathan Reynolds MP, UK Secretary of State for Business and Trade, commended the agreement, noting that it highlights the vast potential for British businesses in Ras Al Khaimah and across the UAE. He said, “It is an honour to witness the signing of this memorandum of understanding. This agreement is a testament to the long-standing relationship between the UK and the UAE, and it will open doors for industrial cooperation in Ras Al Khaimah, building on the strong historical ties between our nations.”

The agreement outlines a number of key sectors where both parties see opportunities for mutual growth. These include investment, trade, education, culture, and heritage. A particular focus is on the potential establishment of a joint business incubator in Ras Al Khaimah. This incubator would provide a platform for UK companies looking to expand into the UAE and wider Middle East markets, creating new opportunities for businesses in both regions.

In addition, the agreement also sets the stage for future collaboration in several areas of strategic importance, such as food security and agricultural strategies, and supports the promotion of Ras Al Khaimah’s cultural and educational initiatives in the UK. Ras Al Khaimah is also looking to promote its unique offerings through roadshows in the UK, which would highlight investment opportunities, industrial developments, and cultural projects.

The agreement signifies a commitment from both Ras Al Khaimah and the UK Government to work together to explore new business opportunities, support economic growth, and promote sustainable development across multiple sectors, ensuring that their partnership continues to thrive for years to come.

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