The Middle East Association (MEA) – the UK’s premier organisation for promoting trade and good relations with the Middle East, North Africa, Turkey and Iran – is playing an important role in spearheading British business activity in the region, where UK-based companies are now being well placed to take advantage of the spurt in investment projects and opportunities, particularly in the project management and services field.

UK firms can also build on the goodwill, including an unprecedented series of high-level UK delegation visits to the region this year. 
“The UK enjoys longstanding political, commercial and cultural ties with the Middle East,” Michael Thomas, director general of MEA tells Gulf Construction. “Over the years, British companies have built up a reputation for quality, integrity and professionalism, with British skills and expertise held in high regard in the region. Visible exports from the UK to the Gulf states topped £6.7 billion ($13.37 billion) in 2006, and trade in services probably surpasses this figure.”
Thomas views the region as one offering immense potential for business growth.
 “Three years of high oil prices have generated unprecedented surpluses in the Gulf that are being ploughed into a wave of investment projects to stimulate economic growth and provide employment and reduce dependence on oil,” he comments. “The Gulf states’ foreign reserves are estimated to have grown by as much as $155 billion per year over the past three years, and some $1,000 billion of infrastructure projects are in the pipeline.
“Local economies are also booming with the GDP growth throughout the Gulf region averaging 7 per cent in the last year. For example, nominal growth in Qatar registered 24.2 per cent last year as compared to 2005. Construction activity is at a high, and real estate prices are at record levels. The GCC countries, between them, plan to invest over $700 billion between 2006 and 2010 in projects ranging from oil and gas production to petrochemicals and industrial development, transport infrastructure, real estate and public services.
“Economies also continue to liberalise and become more diversified in the Middle East – key examples being Saudi Arabia’s economic cities, Abu Dhabi’s industrialisation and privatisation programme, the emergence of capital markets and new financial centres such as the Dubai International Financial Centre, Qatar Financial Centre and Bahrain Financial Harbour and the development of tourism throughout the region. Particularly noteworthy is Dubai’s achievement in successfully positioning itself as a tourism and services hub in the region.”
Thomas points out, however, that the region faces some serious challenges – not least the need to create jobs and equip the young and growing populations with the right skills and career opportunities to enable them to develop their full potential and make a positive contribution to their economies and societies.  Further, liberalisation and diversification is required in a number of areas with the public infrastructure coming under increasing strain as economies expand.
“These developments are creating a wide range of trade and investment opportunities, ranging from the supply of oilfield equipment to assistance with the overhaul of educational curricula.  Oil, gas and petrochemicals, power and water, construction, education and training, healthcare, consumer goods and financial services are among the sectors providing particularly good potential for business,” he adds. 
The MEA is uniquely placed to assist its members to take advantage of the opportunities on offer in the region.  Established in 1961 in London, the MEA is an independent and non-profit-making association whose 400-plus members account for an estimated 70 per cent of the UK’s trade with the region. 
“We offer a range of business services and high-level networking opportunities including conferences, seminars, and receptions with visiting ministers from the region and ambassadors from the UK and the Middle East.  We are the leading organiser of trade missions to the Middle East and regularly organise missions to Saudi Arabia and the Gulf states, led by staff members with in-depth knowledge and experience of the local markets.  We have recently appointed a regional representative in the UAE to cover the GCC countries,” Thomas points out.
The MEA, along with its partner Compass Rose International, is currently engaged in major collaborative projects such as the MENA Learning and Leadership Programme launched with the Emirates Foundation in February this year, and the City of London and GCC Financial Sector Conference to be held again with the support of the Corporation of London this month (June 28). Membership to the association, open to individuals as well as companies, brings substantial benefits to firms who are interested in developing their business in the region.