Bilateral trade between the UK and the UAE could reach GBP 30 billion by 2030, according to Lord Davies of Abersoch, UK chair of the UAE-UK Business Council.
Trade grew 3.7% last year despite a challenging global environment, and while the regional conflict earlier in 2026 may cause a modest dip in this year’s figures, Lord Davies pointed to a strong commercial rebound in recent months. He called on both countries to follow the UK-GCC Free Trade Agreement with a bilateral Comprehensive Economic Partnership Agreement (CEPA) tailored to AI, data and other technology-intensive industries.
Annual trade currently exceeds GBP 25 billion, with more than 14,000 British companies exporting to the UAE. The UAE-UK Sovereign Investment Partnership, launched in 2021 with a GBP 10 billion five-year target, has committed close to GBP 30 billion. The council’s London conference also drew Minister of State for Trade Lord Sarwar and UAE Ambassador Mansoor Abulhoul.
Gulf Economist Staff Writer