New UK – Gulf partnerships to support infrastructure in developing world

0
4
International Trade Secretary Liz Truss

LONDON, England – Foreign Secretary Liz Truss two-day trip to Saudi Arabia and Qatar, is looking to establish bilateral working groups with Gulf allies to deliver cleaner and more reliable infrastructure and much-needed financing into developing and developed nations, noted Foreign, Commonwealth & Development Office (FCDO), in a press release.

“Truss wants more bilateral investment partnerships to drive forward the Build Back Better World Initiative, which was launched by G7 leaders at the Carbis Bay Summit in June to meet the huge infrastructure need in low- and middle-income countries after Covid. Projects could, for example, include building water and energy networks, ports and roads,” said the government document. “Co-investing in infrastructure and economic development with friends and partners is a key part of the foreign secretary’s plan to deepen economic ties with allies and boost jobs and growth both in the UK and the developing world. The foreign secretary wants to explore with Gulf governments and investors how to move this ambition forward.”

The foreign secretary visit comes after the UK’s CDC Group, the FCDO’s investment arm, last week announced a partnership with Dubai’s DP World to modernise three ports in Senegal, Somaliland and Egypt.

Foreign secretary Truss, said: “I want to work with like-minded partners to help provide clean and reliable infrastructure in the developing world. This should be a win-win-win deal for the UK, the Gulf, and countries across Africa and Asia that will create jobs, improve lives, and benefit British and Gulf businesses operating in the region.”

UK-Gulf collaboration could see experts from both countries working side-by-side, identifying opportunities for economic development in the developing world. By working together and sharing expertise, development superpowers, like the UK and some Gulf countries, can help drive economic growth and boost trade, improving the lives of some of the world’s poorest people.

“Truss aims to build on the strong economic and investment relationships already in place, including with Saudi Arabia. In 2018 Saudi Arabia and the UK government agreed £100 million of joint funding to East Africa to boost jobs, economic development and sustainable infrastructure in cities; touched down in Saudi Arabia Wednesday, October 20, where she met minister of foreign affairs His Highness Prince Faisal bin Farhan Al-Saud to discuss closer cooperation on regional security, development, human rights and counterterrorism, and how the two nations can build economic links as part of the Kingdom’s plan to diversify its economy,” said FCDO. “Truss will visit Qatar Thursday, October 21, to meet His Highness the Amir Sheikh Tamim bin Hamad Al Thani and deputy prime minister and foreign minister, Sheikh Mohammed bin Abdulrahman Al Thani.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here