Important business relationships were enhanced by the Department of Economic Development on a recent visit to the United Arab Emirates (UAE) Colin Kniveton, Chief Executive of the Department of Economic Development, visited both Dubai and Abu Dhabi and attended key meetings with the Dubai Economic Department, UAE Insurance Authority and the Central Bank. He was received by the Director General, His Excellency Sami Dhaen Al Qamzi and discussions included how levels of cooperation between both countries could be enhanced. He was joined at meetings with various companies in the finance sector by Greg Ellison, Chief Executive officer Boston Group Ltd and John Batty, Head of Pensions at BW Oakfield Colin Kniveton paid tribute to the economic model created by the UAE and said that the welcoming economic and investment policies of the UAE provided many incentives to foreign companies wanting to establish themselves in the Middle East. Mr Kniveton highlighted the significance to the Isle of Man economy of several Isle of Man companies that are already based in the UAE and the aspirations of others who wish to obtain licenses to extend their business activities in the region. Those companies already established in Dubai are thriving and provide significant economic benefits to both the UAE and the Isle of Man. The Director General of the Dubai Department of Economic Development Sami Dhaen Al Qamzi welcomed the visit by Mr Kniveton and said they would encourage Isle of Man companies looking to establish a presence in the UAE and assured them of all possible cooperation in this regard. The Director General was assisted by Deputy Director General Khalid Al Kasim, and the CEO of the Dubai Investment Office, Mr Fahad Al Gergawi and senior International lawyer Dr Mansour Ahmed Malik. Allan Bell MHK, Chief Minister and current Minister for Economic Development, said: “I am pleased that the visit went well, the UAE is an important country with which to further develop business relationships, and I am encouraged by the positive reaction to the Isle of Man by the UAE authorities.” Colin Kniveton Chief Executive, Department of Economic Development said: “The meetings were very productive and we were well received. We have identified the Middle East as being a key area for economic development, and I look forward to a positive and prosperous working relationship between both countries going forward.” Ends