Lord Mayor to promote economic relationship with Gulf

The Lord Mayor of the City of London, Charles Bowman, is to lead a business delegation to the Gulf (10-13 December) in efforts to make sure London and the UK remain the regional partner of choice when it comes to financial and professional services.

The Lord Mayor, acting as ambassador for the UK’s financial and professional services, will be meeting senior members of the government, investment authorities, regulators and business leaders. As part of the tour of Gulf nations he will be visiting:

  • Jeddah, Saudi Arabia (10 December)
  • Riyadh, Saudi Arabia (11 December)
  • Abu Dhabi, UAE (12 December)
  • Dubai, UAE (13 December)

In Saudi Arabia, the Lord Mayor will meet the Islamic Development Bank, Saudi Arabian Monetary Authority, the Tadawul (Saudi Arabian Stock Exchange) and a wide range of business leaders.

In the UAE, the Lord Mayor will meet the Abu Dhabi Investment Authority and Mubadala sovereign wealth funds, the Department of Finance, the Central Bank, Abu Dhabi’s Financial Services Regulatory Authority, Abu Dhabi Global Market, the Dubai International Financial Centre and a host a number of roundtables on fintech, legal services and taxation.

Speaking ahead of his trip, Lord Mayor Charles Bowman, said:

“The Gulf nations, in particular Saudi Arabia and the UAE, have always been hugely important and longstanding economic partners for the UK. I hope that my visit will build on this and further strengthen the financial ties that bind us.

“I am delighted to support Saudi Arabia’s wide-ranging Vision 2030 agenda that the Crown Prince is encouraging – it contains many new and wonderful opportunities to develop the nation.

“There is a lot up for discussion – how the UK can support economic diversification, commercial tie ups, asset management, wealth management, Islamic Finance, fintech and a host of trade and investment opportunities.

“As the leading financial centre in the world, the UK has a huge representation of world-class firms with the right expertise and experience that can partner Saudi Arabia and the UAE with their economies and their ambitious infrastructure projects. I am looking forward to what I am certain will be a productive few days.”

Notes to editors

About the Lord Mayor of the City of London

  • The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 100 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year).
  • The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister.
  • The Lord Mayor meets several international Heads of Government and Business each month to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor lives in the Mansion House for the Mayoral year.