The ideal event for experienced UK exporters to gain an insight into business opportunities in the Gulf markets.
The Department for International Trade (DIT), HSBC and Pinsent Masons are delighted to host the 2019 DIT Gulf Roadshow where senior experts from the Gulf Cooperation Council (GCC) markets will share their experience and insight into winning business in the region.
The GCC markets comprise:
•United Arab Emirates (UAE)
The roadshow will focus particularly on the sectors of opportunity outlined in the Gulf countries’ transformation agendas as their markets move away from a dependence on hydrocarbons.
These sectors are:
• Education & Training
• Healthcare & Life Sciences
• Creative Services
UK trade with the GCC increased by 89.2% over the past decade 2009-18. This was mostly driven by an increase in goods trade, contributing 71.6% of the increase. Over the same period, UK trade with the world increased by 56.1%. In 2018, the GCC accounted for 2.9% of total UK trade. Were the GCC to be considered a single bloc it would be the UK’s 10th largest trading partner.
Key factors that make the GCC an excellent region to export to:
•The UK is committed to supporting Vision 2030, SAUDI ARABIA’s programme for economic diversification and social reform. The UK is strongly placed to be an active partner in the core elements of the vision including public-private partnership, education reform, healthcare reform, promotion of tourism and creative industries and much more. Several ‘Giga-Projects’ have been announced, including a high-tech city called NEOM with a $500 billion investment.
•There are over 5,000 British companies operating in the UAE. Expo 2020 Dubai will host 25 million visits and is forecast to boost the economy by US$23bn. This results in about US$8bn worth of opportunities across many sectors particularly in hospitality and construction.
•QATAR will host the world’s largest sporting event, the FIFA World Cup, in 2022 and has committed to spend £5 billion on delivering it. The UK is a preferred commercial partner for this event and business opportunities include; construction, security, event management, retail, hospitality and creative industries.
•The Sultanate of OMAN is strategically located outside the Straits of Hormuz, bringing advantages of shorter shipping times along major maritime routes, and assured access to the Gulf. Deep seawater ports in Sohar, Duqm and Salalah are on international maritime routes to Asia and Africa. State of the art passenger and cargo airport facilities in Oman provide access to a market of circa 2 billion people across markets in India, Asia, Africa as well as the GCC – all accessible within 3 hours by air.
•BAHRAIN has seen record-breaking FDI inflows and a 138% year on year growth in 2018, as FDI reached $810m. Major recent investments include two giants – Amazon Web Services and Mondelez, both of which have established their regional headquarters in Bahrain.
•Of all UK exports to KUWAIT in the four quarters to the end of Q1 2019, £517m (19.6%) were goods and £2.1bn (80.4%) were services, making Kuwait a popular destination for the UK’s services industries.
Click here to find out more and register your interest.