Not boom time in the Middle East but big time!
Although the effects of the boom and bust of a few years back may still be affecting large swathes of the globe, in the Middle East, however, huge infrastructure projects worth billions of pounds are under way and energising both investors and economies alike. It may not be boom time, but it sure is big time.
As a consequence, entrepreneurs and the leading lights from business communities around the world are turning towards the United Emirates, Qatar, Egypt and other Middle East countries seeking out the investment opportunities announced, it seems, almost on a weekly or monthly basis. Multinational banks such as HSBC have been actively supporting the huge developments and offering a range of useful business services, everything from payments and cash management to online business banking.
But it’s not just the business bank account that's useful to the potential entrepreneur or investor, the local knowledge and business intelligence which come with it are also vital elements. In that respect, HSBC has few equals anywhere in the world.
The United Kingdom has an incredible relationship with the United Arab Emirates (UAE), for example, which deepens year on year. More than a million Brits visit the country every year, most of them attracted by the sights and sounds on offer in the major cities of Abu Dhabi and Dubai. More than 100,000 Britons live and work in the UAE.
Indeed, the UAE is the UK’s largest export market in the Middle East and North Africa. It is the UK's 16th largest export of goods market at around £4.7 billion and is designated as one of the UK Trade & Investment's (UKTI) high growth markets.
Key sectors for the UK in the UAE are infrastructure (construction and mass transport); energy; defence and security; education and training; financial and professional services; and creative and media.
The relationship is set to continue in 2013 with a string of trade events and exhibitions which mean yet more opportunities for businesses in the UK. A good example is Arab Health 2013, the world's longest running healthcare exhibition and congress, which takes place every January in Dubai.
At last year's event, UKTI facilitated 560 meetings between over 100 UK companies and international buyers and UKTI commercial officers. Buyers and partners from Algeria, Kuwait, Egypt, Lebanon and Jordan are expected to attend in 2013. With the Middle East healthcare industry worth an estimated £50 billion per year, Arab Health is one of the most important trade events in the world.
The IDEX/NAVDEX International Defence Exhibition & Conference to be held at the Abu Dhabi National Exhibition Centre (ADNEC) in February 2013 is another important one to watch.
IDEX is the most strategically important defence exhibition in the Middle East, attracting high level delegations and visitors from all over the region and the world. NAVDEX, the naval element of the show, will showcase the latest in maritime technology and will take place along the waterfront at ADNEC.
Experience the magic of the Arabian thoroughbred at the Dubai International Horse Fair, the region's biggest trade fair and exhibition for leisure and professional riders, owners, stables and clubs. The event is held in March 2013 and the UKTI's Tradeshow Access Programme (TAP) provides grant support for eligible small businesses who may want to attend.
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