2010-03-14 23:57:18
WAM Abu Dhabi ,14th March, 2010 (WAM) --Lord Davies of Abersoch, the British Minister for Trade, Investment and Small Business, praised the experience of the Khalifa Fund to Support and Develop Small '&' Medium Enterprises (SMEs) for supporting the potential of national entrepreneurs and helping them contribute towards national economy.

As a result, he suggested signing a memorandum of Understanding between the two sides to exchange expertise in this field.

Lord Davies said during a meeting today with Dr. Ahmed Khalil Al-Mutawa, the Executive Director of the Khalifa Fund, in the presence of Edward Anthony Oakaden, Ambassador of the UK to the UAE, that he was impressed by the Abu Dhabi 's experience in the SMEs sector and hoped to transfer such a model to Britain .

He added that the role that the Khalifa Fund plays in this field reflects the care lent by the UAE leadership to provide all factors of advancement and excellence for UAE citizens.

The visiting British minister was briefed by Al-Mutawa about the future vision of the Khalifa Fund to develop SMEs and its training and funding programmes.

He added that the Fund has funded some 205 SMEs at a total value of AED 340 million till the end of 2009 and some 1300 citizens have benefitted of its training programmes.

WAM/Hazem Hussein Mostafa/TF