Chief Minister leads visit to Gulf state

Tuesday 06 May 2014

Jersey’s Chief Minister will be travelling to the Persian Gulf at the weekend to meet senior government officials and other key business introducers.

Senator Ian Gorst is heading a delegation to Abu Dhabi and Dubai including Jersey Financial Services Commission, the States Director of Financial Services, Joe Moynihan and senior government and industry figures.

On Monday, the Director of Jersey Financial Services Commission, John Harris, will sign a Memorandum of Understanding with the Emirates Securities and Commodities Authority. The agreement will further assist in the development of regulatory links between Jersey and the Gulf and it will strengthen the Island’s ability to undertake business in the region. 

Jersey Finance officials and industry representatives will also be visiting Saudi Arabia where Jersey Finance is a sponsor of 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. 

Deputy chief executive at Jersey Finance Limited, Richard Corrigan, who will be leading the team at the conference, said: “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.”