During my many visits to the United Arab Emirates, it has become apparent that the UAE is a trusted and valued friend. With our shared history, values and interests, the UAE continues to be our leading partner in the Middle East and a regional beacon of stability, tolerance and diversity; values which we hold dearly in the UK.

Trade between us is booming. The UAE is the UK's 14th largest market for exports worldwide and the biggest in the region. Visible exports stood at £3.4 billion in 2006. Invisibles are probably as much again. I firmly believe that these figures will continue to grow, particularly given the dramatic developments currently taking place in both Abu Dhabi and more generally throughout the United Arab Emirates.

Further evidence of our strong relationship is reflected in the fact that there are now over 120,000 British Citizens residing in the UAE. With 130 direct flights to the UK from the UAE each week, mostly full, and over 40,000 Emirati visitors each year to the UK, it is no surprise that London is sometimes referred to as the 8th Emirate.

Whilst these are indeed remarkable statistics, our relationship is deeper and more diverse. The UAE is not just a market, but a true partner and political ally. This fact has been backed up by a plethora of high level visits. My own visits aside, the last few months have seen visits by The Prince of Wales, the Prime Minister, the Foreign Secretary, the Paymaster General and the Lord Mayor of London amongst others. It is an impressive list and the momentum is set to continue. We have recently signed agreements in the Mutual Legal Assistance field and we cooperate closely in other judicial matters. Increasingly, in business circles, the UAE is being seen as a hub from which to invest and develop across the Gulf region and beyond. A strategy I would suggest merits wider consideration.

Looking forward, this is a period of opportunity. The UAE as a whole is poised for momentous economic and social growth, building on the sound legacy of H.H. Sheikh Zayed; the economy is booming and the door is wide open up for UK business.

However, we cannot take our friendship for granted. There is serious competition for these opportunities and we have to demonstrate that we are hungry, imaginative, innovative, energetic and serious.

Abu Dhabi is a world leader in oil and gas. Many UK companies have forged successful partnerships in the UAE, BP and Shell spring to mind, but many other oil and gas SME's are also involved. There will be considerable new investment in the sector over the next few years, including the huge new sour gas project. Other sectors are developing rapidly as well; Construction, Education, Renewable Energies, Power, Healthcare and Tourism are all sectors with potential for investigation and opportunity. The UK's Financial Services in all its constituencies are taking an increasingly close interest in Abu Dhabi, particularly following the Lord Mayor's visit in February this year.

With Abu Dhabi spending over US $200 billion on construction projects alone, it is indeed changing times in Abu Dhabi. I believe The British Business Group has a key role to play in Abu Dhabi's future development and I know the Ambassador, his team and I, where I can, stand ready to help.

I believe these are exciting times in the UAE and the region as a whole and I look forward to my next visit with anticipation.

H.R.H. Prince Andrew, the Duke of York, is Britain's Special Representative for Trade and Investment and is a frequent visitor to Abu Dhabi.