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Senior Isle of Man delegation due in the Gulf

United Arab Emirates: Sunday, February 06 - 2005 @ 11:05

The delegation will begin a five day tour of Abu Dhabi, Dubai, and Bahrain on the 18th February, to develop further links with the area. The recently re-elected Chief Minister of the Isle of Man, Hon Donald Gelling CBE, CP, MLC has chosen to make the first visit of his new term to this leading business region.

The visit has been arranged by Isle of Man Finance, the government department responsible for the development of the Island’s finance sector, who has been cultivating relationships in the region over the last ten years. The delegation will re-visit contacts made in previous visits and seek to forge new friendships on behalf of the Island with senior government officials in the Gulf. It is also hoped that the visit will foster bilateral business relations, between these major financial centres.

Joining the Chief Minister as part of the senior official delegation will be John Aspden, Chief Executive of the Island’s Financial Supervision Commission, David Vick, Chief Executive of the Insurance and Pensions Authority, Head of Isle of Man Finance, Jane Dellar and Business
Development Manager Andrew Smith. The delegation format demonstrates both Ministerial and commercial commitment, and the value the Island attaches to the Gulf.

The Isle of Man has become one of the world’s leading international business centres. The political and economic stability, demonstrated by the AAA sovereign rating from both Standard & Poor’s and Moody’s, the tax neutral fiscal policies, diverse financial products and strong regulatory measures have assisted the Island in achieving this high status.

This is not the Chief Minister’s first tour to the Middle East. He has been on five previous occasions, his first being in 1999, and during this time he has forged strong links in the region.

Owing to pressure of political engagements the Chief Minister will not be able to visit Bahrain on this occasion. However, he recognises the importance of this financial centre and hopes that he may make a return visit there soon.

Mr Gelling said “I am delighted to be able to return to the Gulf region and lead a further delegation. It will be an honour to continue dialogue with senior Government Officials during the visit, and to formalise further our existing strong financial and economic relationships.”

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Sunday, February 6- 2005 @ 11:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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