RAK strengthens its sustainable development and shared growth opportunities strategies.
In a significant move to strengthen economic ties, Ras Al Khaimah has signed a growth partnership agreement with the UK Government, focused on enhancing collaboration in trade, industry, and various other sectors such as education and culture. The agreement was recently established in a ceremony attended by prominent figures, including H.H. Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, and UK Secretary of State for Business and Trade, Rt Hon Jonathan Reynolds MP.
The partnership involves Ras Al Khaimah’s Investment and Development Office (IDO) and the UK’s Department of Business and Trade, and was signed by Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of 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. As articulated by Sheikh Khalid, this agreement represents a pivotal step in Ras Al Khaimah’s vision for fostering international partnerships aimed at economic growth and innovation.
Key highlights of the agreement include:
1.Focus on Industrial Growth: Both parties aim to collaborate in developing industrial growth, facilitating trade between the UK and Ras Al Khaimah.
2.Multi-Sector Engagement: The agreement emphasizes potential cooperation in various sectors, including investment, education, culture, and heritage, establishing a broad foundation for mutual growth.
3.Joint Business Incubator: A proposal to set up a joint business incubator in Ras Al Khaimah will create opportunities for UK companies to enter the UAE and Middle East markets.
4.Areas of Collaboration: The partnership will explore cooperation on key issues, such as food security, agricultural strategies, and supporting cultural and educational exchanges, alongside promoting Ras Al Khaimah in the UK.
Jonathan Reynolds MP highlighted the importance of this memorandum, viewing it as a pathway to significant industrial cooperation that could yield extensive benefits for businesses on both sides.
Overall, the partnership signifies an optimistic outlook for collaboration between Ras Al Khaimah and the UK, with an emphasis on sustainable development and shared growth opportunities.
