THIS MORNING: UAE looks beyond GCC-UK trade agreement + Adia to cash in on Jersey Mike’s US IPO - UAE

The UAE is intensifying its trade diplomacy and protecting critical supply chains as it eyes a standalone economic partnership with the UK and accelerates global trade ties. Emirati ambassador to the UK Mansoor Abulhoul said the GCC‑UK agreement finalised in May is “a solid foundation,” and urged both sides to “move quickly” on a comprehensive economic partnership agreement (CEPA) that could deepen cooperation on AI, digital trade, financial services and mutual recognition of professional qualifications.

"A solid foundation," Mansoor Abulhoul said of the GCC‑UK deal, adding that the two sides must "move quickly" on a comprehensive economic partnership agreement that would go beyond the current package.

Abulhoul’s comments frame a broader UAE push to secure bilateral and multilateral trade links: the country is in preparatory discussions to join the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership, and trade with countries that have existing CEPAs reached AED 304.3 billion in the first half of the year. A UAE‑UK CEPA would aim to go further than the GCC agreement’s tariff cuts and facilitation measures, potentially unlocking more UAE investment into the UK and easing movement for skilled workers such as lawyers and engineers.

At the same time, authorities in Dubai deployed emergency customs measures between March and June to keep goods flowing amid regional shipping disruptions. Dubai Customs reports those measures kept AED 33.9 billion worth of trade moving while providing AED 79 million in direct liquidity relief to 428 companies.

• Relief measures included customs duty instalment plans, a 120‑day extension for suspended duty cases, an 80% cut in eligible financial penalties and a Green Corridor redirecting cargo through alternative UAE ports.
• The Green Corridor moved more than 203,000 containers and almost 3.2 million tonnes of goods from 188 countries between March and June.
• Top cargo categories by value: food (AED 5.3 billion), machinery and electrical equipment (AED 4.24 billion), vehicles (AED 2.21 billion), and plastics (AED 1.5 billion).

The trade and investment narrative intersects with sovereign and institutional capital activity. The Abu Dhabi Investment Authority (Adia), disclosed as a 5%+ shareholder in US sandwich chain Jersey Mike’s, is selling shares in the chain’s upcoming IPO alongside majority owner Blackstone. Jersey Mike’s plans to market about 43.5 million shares at USD 21–25 each, split between new company shares and roughly 29.7 million secondary shares from existing holders, with the offering seeking to raise up to USD 1.1 billion. Reports suggest the deal could value Jersey Mike’s well above the USD 8 billion Blackstone paid in 2024, with targets reportedly above USD 10 billion.

The sovereign investor has been active in recent months: Adia and Advent International realised proceeds from the Innio IPO, raising USD 2.4 billion in a secondary sale, and Adia last year partnered with Advent to acquire a minority stake in Fisher Investments at a USD 12.8 billion valuation.

Other corporate manoeuvres are also unfolding. A US federal judge has temporarily paused Paramount Skydance’s Gulf‑backed takeover of Warner Bros. Discovery, after a “strong showing” that the USD 110 billion deal could unlawfully harm competition. A hearing is scheduled for 3 August; a negative court outcome could scupper the deal and trigger a USD 7 billion termination fee plus further costs.

Outlook

The coming months will test how quickly Abu Dhabi and Dubai can translate diplomatic momentum into binding bilateral deals with major partners such as the UK, and how resilient supply chains remain if regional tensions persist. For sovereign investors like Adia, the Jersey Mike’s IPO offers an opportunity to monetise US holdings as valuations climb—while global regulatory scrutiny and antitrust litigation continue to add uncertainty for some of the region’s largest cross‑border transactions.