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The Isle of Man (Other OTC: MAGOF.PK - news) is hoping that links with the City of London (LSE: CIN.L - news) will help highlight the Manx contribution to British businesses

The Lord Mayor of the City of London has praised the Isle of Man's "longstanding and much valued partnership" with UK business.

On his first visit to the Island, Alderman David Wootton said that he appreciated the Isle of Man's "diversity" and growing involvement with business in the north-west of England and through the City itself.

"We are both small in size but punch well above our weight in the global economy," Mr Wootton said.

"We can be justly proud of the standards and governance we demand. And we are also well placed and well able to meet the challenges of the future and play our part in creating jobs and growth.

“We share the same values and the same commitment to the very highest standards of corporate governance."

The Mayor also told guests from the business community that the Isle of Man exemplified just how diverse and dynamic small economies could be. He also said he shared Chief Minister Allan Bell’s vision for the Isle of Man of maintaining a society based on fairness, opportunity for all, social cohesion and quality of life.

Mr Bell says there has been a lot of work to build the island's profile and relationships with the City.

“This visit is part of our growing friendship with the City and we are delighted that the Lord Mayor has come to see us so soon after taking up office in November (Stuttgart: A0Z24E - news) ," he said.

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Isle of Man seeks to build on City links