Representatives from Qatar, Kuwait, Saudi Arabia and UAE visited Scotland this week to discuss investment prospects at a government-hosted seminar led by UK Trade & Investment (UKTI) and Scottish Enterprise, Scotland’s economic development agency.
The Edinburgh-based event featured a panel of experts on high growth markets in the fields of energy, education, technology and finance. Currently, the UAE is the Middle East’s leading export destination for Scotland, witnessing an increase of 67 percent between 2010 and 2014.
To further potential investment, Scotland’s international business agency, Scottish Development International, plans a trade mission to UAE and Kuwait in November, with market research, networking opportunities and hands-on mentorship. Additionally, a similar project is in the works for Qatar in 2017.
Scottish Development International Manager Colin Crabbe said that many businesses find the prospect of foreign trade daunting. But, he said, “with the right information, advice and support, these markets can offer high rewards and are very receptive to Scotland, which is well-regarded for its for its technology, innovation and creativity across a variety of sectors.”
“The Middle East and Gulf region particularly are interested in renewables, low carbon and smart technologies, while they also need products and service providers in education and the creative industries, as well as food and drink; so the opportunities are boundless,” Crabbe said.