Riyadh – Sharikat Mubasher: Alastair King, the Lord Mayor of the City of London, highlighted Saudi Arabia's promising opportunities in the fintech sector expressing the United Kingdom’s interest in forming partnerships with the Kingdom in this area and beyond.

In an interview with Al Arabiya Business, King shared his hopes for accelerating the free trade agreement between the Gulf countries and the UK, emphasizing the positive impact it would have on all parties involved.

He stated that the UK has significant expertise in financial technology, with more unicorn companies than any other European country. This expertise, he explained, could help companies achieve substantial growth. The UK is focused on strengthening its fintech sector and would welcome partnerships with Saudi Arabia in this field, given the Kingdom's considerable potential.

King believes the free trade agreement between the UK and the Gulf countries is crucial. While timing may not be the sole factor, he stressed the importance of working diligently to finalize the deal as soon as possible. He noted that the agreement would bring stability and clarity, eliminating barriers to investment flows between the two regions once it is signed and implemented.

He emphasized that the trade agreement would have overwhelmingly positive effects as he believes the deal would open significant opportunities in finance, professional and legal services, and maritime industries sectors that King thinks hold the greatest potential.

King also underlined that the City of London possesses extensive expertise in finance and operates independently from the UK government. However, he affirmed the financial district's commitment to supporting the agreement. Personally, he added his voice to those advocating for the deal’s swift conclusion, emphasizing its mutual benefits for all parties involved.