With over 5,000 British firms in Dubai, the UK and DIFC are committed to improving data partnership

The UK has been working towards bettering its relationship with the UAE in several ways. After sending its delegation to the Abu Dhabi Global Market in order to work on strengthening the bonds between the two entities, it now also works with Dubai International Financial Centre (DIFC) on deepening the data partnership.

The DIFC has been around for nearly two decades after being established in 2004, as a financial free zone in the UAE. It now serves as the financial hub not only for the markets of UAE but for the whole Middle East, as well as Africa and South Asia.

Secure data transfers are the key

At this time, more than 5,000 British companies operate in the UAE, and the operations of many of them depend on being able to transfer data securely. It is estimated that around 16% of companies offering financial services in this region were originally from the UK, so the ties between the two nations are quite strong in this regard.

This week, the UK Minister of State for Media, Data, and Infrastructure, Julia Lopez MP, issued a joint statement with DIFC’s CEO, Arif Amiri, and the DIFC Commissioner of Data Protection, Jacques Visser. The statement concerns the shared idea of committing to improving and deepening the data partnership between the UK and DIFC.

Lopez was also the leader of the mentioned delegation that was recently welcomed by the Abu Dhabi Global Market, making her one of the UK’s most notable representatives in the UAE. The UK’s goal seems to be to increase partnerships with different entities in this region and ensure things such as data protection laws that would facilitate responsible innovation and the reduction of burdens on businesses.

Apart from that, another major goal appears to be lowering risk outcomes. With the UK-DIFC data bridge, a number of benefits coming from the friendship between the two countries will be able to emerge and even create new opportunities for joint growth and improvement.

A data bridge to further unite the UK and UAE

Arif Amiri, the CEO of DIFC Authority, commented on the new development by stating that DIFC is meant to be a destination for commerce and culture. However, the key factor that distinguishes it from everyone else is its regulatory and legal framework. It has a sound infrastructure that was created by the local legislation, making it adaptable but also resilient enough to cater to innovative and essential legal principles and best practices that can support key business activities.

The biggest example of this, according to Amiri, is the Data Protection Law 2020. Visser noted that the DIFC team has been working with the DCMS to create an even more reliable, scalable, and robust data bridge between the UAE and the UK. The UK has been positioning itself as a leader in innovative data protection policy for a time now. And the key in creating a functioning policy framework on international transfers will be the Data Protection Law itself.

Finally, Lopez herself said that trusted data transfers could unlock massive potential for innovation, investment, and trade on a global scale.