6 October 2008
City Lord Mayor looks to Asia for further partnership
Lord Mayor David Lewis, the ambassador for all UK-based
financial services, will head a City of London business delegation
to Taiwan, Japan, Brunei and Singapore from 6 October to 16
October.
Lord Mayor David Lewis said:
"This is a difficult time not only for the City but for the
global economy. However, whilst not immune from this turmoil,
emerging economies in Asia continue to grow rapidly and will need
financial services and City expertise to help them with that
growth.
"At this time of global financial turmoil, Asian markets remain
relatively strong in terms of liquidity and how that liquidity is
deployed is a critically important matter for us in the City. There
are lots of opportunities and experience the City can offer and we
will continue to encourage Asian funds and companies to see London
as their choice of investment.
"The City has long and close historic, trading and investment
links with Asian markets. It is of vital importance that City
businesses continue to maximise their relationships within Asia and
engage closely with the region. The City's leading expertise in
infrastructure projects and public-private partnerships, in the
maritime sector, in Islamic finance, in insurance, in asset
management, in carbon markets and trading, and in educational
training and professional qualifications continue to be very
relevant and will be on the agenda in all four countries.
In Japan, the Lord Mayor will be meeting their Financial
Services Agency and business leaders including the President &
CEO of Nomura Holdings. He will also open an Islamic Finance
Seminar and make a keynote speech at a forum on crossborder M&A
and growth strategies. This year also marks the 150th anniversary
of UK-Japan diplomatic relations.
"We welcome well-capitalised Japanese financial institutions in
playing an even larger role in the global financial markets and the
City is a natural gateway into Europe and beyond for them," said
the Lord Mayor.
In Singapore and Brunei, the Lord Mayor will be calling on their
sovereign wealth funds – the Government of Singapore Investment
Corporation (GIC) and the Brunei Investment Authority to discuss
investment opportunities that the City has to offer and reiterate
the UK’s welcoming approach on these funds.
"Sovereign wealth funds can be very reliable investors and a
stable source of valuable liquidity for companies, especially in
the present climate; some have had offices in the City for over 50
years and we welcome them" said the Lord Mayor.
The Lord Mayor will also meet HM The Sultan of Brunei and
deliver a keynote speech on public-private partnerships in Brunei.
He will attend events in Singapore to encourage further
co-operation between the countries in the maritime sector and on
asset management.
In Taiwan, the Lord Mayor will meet key political and business
leaders including President Mr Ma Ying-jeou and the Chairman of the
Evergreen Group. The Lord Mayor will open a Going Global event to
encourage Taiwanese companies to list on the London Stock
Exchange.
Ends
Notes to editors
The Lord Mayor acts as the ambassador for UK-based financial
services and spends around 100 days of his year visiting more than
20 countries. He is also the annually-elected head of the City of
London Corporation which provides local government services for the
Square Mile, the financial and commercial heart of the UK. The Lord
Mayor, the City of London, UKTI and the UK Treasury work in
partnership to promote UK financial services. More info on the Lord
Mayor at
www.cityoflondon.gov.uk/lordmayor
Press enquiries to Loretta Lui +44 777 080 3589
loretta.lui@cityoflondon.gov.uk