HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, received HE Andrew Robb, Australian Minister for Trade and Investment, along with his delegation earlier this week. The visit took place at the Ministry of Finance’s (MoF) premises in Dubai.
During the visit, discussions were held about potential bilateral ties between the UAE and Australia and ways to develop the partnership across various areas, in order to expand horizons for cooperation and joint action. The two parties also discussed ways to overcome obstacles in regards to public and private investments in order to maintain the advantages of existing investments.
HE Obaid Humaid Al Tayer welcomed HE Andrew Robb and his delegation and wished them good luck in their mission to strengthen ties between the two countries. HE also stressed the need to exchange visits and experiences between the two ministries to contribute to the welfare and interests of the UAE and Australia.
In addition, the meeting featured negotiations in relation to a number of topics of common interest, including the double taxation avoidance agreement on income, free trade agreement with GCC countries as well as food, tourism and flights safety. The number of weekly flights between the UAE and Australia has increased from 50 to 140 weekly flights and forecasts indicate that the number of weekly flights will reach 200 in the coming year.
To conclude the meeting, HE Australian Minister for Trade and Investment expressed his gratitude for the very warm welcome and hospitality he and his delegation received, highlighting his desire for the Australian government to strengthen the friendly bonds between the two parties as well as expand joint trade investment opportunities.
UAE Foreign investment to Australia has reached $6.2bn US dollars, while GCC foreign investments accounted for $12.4bn US dollars.