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Jersey Chief Minister Visits UAE

by Mike Godfrey, Lowtax.net, Washington
06 May, 2014

Jersey's Chief Minister, Ian Gorst, has led a delegation to visit the United Arab Emirates. The delegation included John Harris, director general of the Jersey Financial Services Commission, who signed a Memorandum of Understanding (MoU) with the Emirates Securities and Commodities Authority.

The MoU is intended to further assist in the development of regulatory links between Jersey and the Gulf and to strengthen economic ties.

Gorst said: "The UAE is a valued long-term partner with whom we have a relationship that spans a number of sectors... I and my ministerial colleagues have worked to develop close ties with Abu Dhabi and Dubai, and it is in the long-term interests of the Island that these are maintained."

Jersey Finance will also visit Saudi Arabia later this month, where it will sponsor the Euromoney Saudi Arabia Conference – the longest established and biggest financial conference in Saudi Arabia, which is held over two days in Riyadh and attracts more than 1,200 delegates.

Richard Corrigan, Deputy Chief Executive of Jersey Finance Limited, who will be leading the Jersey Finance team at the conference, said: "For over ten years Jersey's senior ministers have been regularly visiting the Gulf and each visit significantly helps to strengthen and broaden Jersey's relationships in the region, and contributes positively to our global business development strategy."

"This latest visit to the Gulf will provide an ideal platform for fostering closer ties at the highest level, whilst reinforcing our commitment to what is undoubtedly one of our most important overseas markets. With an office firmly established in Abu Dhabi since 2011 and plans to recruit a further representative in Dubai who will help spearhead Jersey's business development across the wider Gulf region including Saudi Arabia, Jersey is gearing up its resources as part of a sustained commitment to the region."

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