21 May 2010
City Lord Mayor strengthens Asian financial ties
The Lord Mayor of the City of London, Alderman Nick Anstee, will
lead a high-profile business delegation to Singapore, Japan, and
Indonesia this week to strengthen financial links between the UK
and Asia.
He will arrive in Singapore on Sunday (23 May 2010), before
travelling to Tokyo (26 May) and Jakarta (29 May) as part of a
visit designed to forge closer links on areas including: asset
management, Public-Private Partnerships (PPP), and Islamic Finance.
The Lord Mayor is scheduled to return on Tuesday, 1 June.
Lord Mayor Nick Anstee, who is global ambassador for all
UK-based financial services, said:
"Although Asian centres have weathered the storm better than
most, the last two years have been tough for business and financial
services globally.
"London, however, remains a world-leading international
financial centre, with the World Economic Forum's Financial
Development Report recently ranking the UK the leading centre.
"The City has long held close trading and investment links with
Asian markets and, as the global economic recovery gathers pace, it
is more important than ever that we strengthen these financial ties
for our mutual benefit.
"According to the World Bank's Doing Business report, the UK is
the most business friendly country in Europe and we have much to
offer Singaporean, Japanese, and Indonesian companies looking to
raise capital, benefit from the City's expertise or expand into
Europe. By working together on a level playing field we can meet
the challenges and opportunities facing us in the new financial
era."
In Singapore, the Lord Mayor will be calling on Temasek, the
Singapore Investment Corporation, the Monetary Authority of
Singapore, and several government ministers to underline the
potential benefits of liberalisation in the banking and legal
sectors. He will also make a keynote speech at the British Chamber
of Commerce Leaders in Business lunch, which will highlight the
opportunities for further partnership between the two
countries.
"Singapore has performed strongly in recent years and was ranked
fourth in our recent Global Financial Centres report. There remains
scope, however, for greater cooperation in financial and
professional services provided there is a commitment to greater
openness in key business areas."
In Japan, the Lord Mayor will be meeting with representatives
from leading companies, which either already have operations in the
City or are looking to expand into the UK. He is also scheduled to
call on the Commissioner of the Financial Services Authority,
Deputy Governor of the Bank of Japan and speak at an asset
management seminar.
"London has long been a gateway into Europe and beyond for top
Japanese firms. The City is already home to the likes of Nomura and
Mizuho, and we hope many more financial institutions from Japan
will join them to take advantage of our capital raising and
operational expertise."
In Indonesia, the Lord Mayor will meet key political and
business leaders to discuss opportunities for closer collaboration
in areas including infrastructure development, Islamic Finance,
capital markets, and financial services liberalisation. He will
also open trading at the Indonesian Stock Exchange and the “Gateway
to the European Capital Markets” seminar organised by the London
Stock Exchange, in co-operation with other financial advisers
"Indonesia is the largest Islamic market in the world and as
such has unique strengths to offer the international finance
community. London is a world leader in Islamic finance and we can
share significant future growth in this area by working together to
develop the infrastructure, both financial and physical, required
by Indonesia."
Ends
Notes for editors
About the Lord Mayor of the City of London:
The Lord Mayor is head of the Square Mile’s City of London
authority for one year and the position is unpaid and apolitical.
It is an exceptionally demanding role. The Lord Mayor spends some
90 days abroad and addresses some 10,000 people face-to-face each
month (making around 800 speeches a year). The Lord Mayor
represents City businesses and helps the City Corporation advise
the Government of the day on what is needed to help the financial
services sector to function well. The Lord Mayor frequently travels
to represent the City; and travels overseas with the status of a
Cabinet Minister. On average, the Lord Mayor will meet one head of
state a month and will meet a prime minister or finance minister
each week to discuss financial services, often in conjunction with
senior City business representatives. The Lord Mayor, who is
unpaid, lives in the Mansion House for the Mayoral year.
Press contacts
Loretta Lui, Senior Press Officer, City of London
Corporation
T: +44 (0)20 7332 1528 / M: +44 (0)7770 803589
Email:
loretta.lui@cityoflondon.gov.uk