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The UK's secretary of state for business, innovation and skills, Lord Mandelson, has held talks with UAE interior minister of economy, Sultan Saeed Al Mansouri, over the non-payment of British construction firms.
In the inaugural meeting of the UK and UAE Joint Economic and Trade Committee (Jetco), held in London, it is understood that Mandelson raised the payment problems that UK firms were experiencing, while the UAE minister asked for an easing of the requirements for Emiratis to gain UK visas and discussed private investment opportunities in the UK.
A source close to the talks told building.co.uk that port developer DP World was considering a scheme in the Thames Gateway, for example.
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“The UAE wanted to discuss balance of payments, too. At the moment the UAE buys £2.5bn ($US 4bn) more from us than we do from them, and they are not happy about that,” said the source.
Jetco’s next meeting is expected to take place in Abu Dhabi in April 2010.
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FEATURED COMMENT
Well the UK is really only providing knowledge and experience to the UAE. Cant imagine much else apart from the odd jar