Government aides firms to enter Middle Eastern markets
One-stop-shop to enter in Dubai to advise British firms
The government plans to open a centre in Dubai to help UK companies set up and do business in the Middle East.
The ‘trading hub’, which will be run by government agency UK Trade & Investment (UKTI), will be opened on May 17 2007, it was announced yesterday.
The centre will provide UK companies with a ‘one-stop-shop’ for resources, advice and support to help them tap into the ‘booming Middle East and North African markets’, the government claimed.
Commenting on the plans, Andrew Cahn, UKTI chief executive officer, said: “The Middle East region represents huge opportunities for British businesses.”
“Economies in the region are booming and trade is growing rapidly offering huge potential for UK companies looking to invest.”
According to UKTI, staff at the centre will help Dubai-based UK companies looking to expand into neighbouring markets and offer support to British firms wanting to do business in the region.
“The Middle East has a vibrant tourism industry, is embracing new technologies and building infrastructure at a rate of knots. UKTI wants to ensure British companies are best placed to tap into these opportunities,” added Cahn.
Simon Harrison, director of energy for consultancy firm Mott MacDonald, also welcomed the initiative.
“There are significant hurdles to overcome when doing business in foreign markets. Obtaining authorisations, licences, registrations and visas presents a minefield of challenges to companies looking to establish themselves overseas,” he said.
“Having a dedicated team of advisors who know the local business environment will make it much easier for UK companies to set up and do business abroad.”
© Crimson Business Ltd. 2007