UAE seeking to boost trade and investment ties
As part of its efforts to expand trade ties in Asia, Europe and Africa, the UAE government has reached out to a number of nations in the regions.
Sultan bin Saeed Al Mansoori, Minister of Economy, held talks with senior government figures and heads of regional and international organizations on the sidelines of 7th Annual Investment Forum held this week in Dubai.
Authorities revealed that the meetings focused on enhancing economic and trade cooperation and reviewing major investment opportunities offered by each side as well as possible investment partnerships that can advance mutual development goals and help boost trade flows.
Among the sectors discussed for their potential to boost regional and international development partnerships were aviation, agriculture, logistics, mining, and renewable energy.
Abdullah Al Saleh, Undersecretary for Foreign Trade and Industry, and Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs also met delegates at the three-day event held at the Dubai World Trade Center under the theme ‘International Investment, Path to Competitiveness & Development’ which began on April 2.
Aviation, logistics and IT
Al Mansoori discussed the strengthening of economic and trade ties with Russia during his meeting with Sergey Cheremin, Russia’s Minister of Economy and International Relations.
They also agreed to maintain close cooperation while exploring wider horizons for pushing their relations to more advanced levels to better serve their common interests.
They committed to offering investment opportunities in several vital sectors, most notably transport, aviation, IT, finance and banking and tourism, the last of which has been posting particularly high growth rates.
During the meeting with the delegation headed by Xia Baolong, Communist Party Secretary of China’s Zhejiang Province, the two sides agreed to focus more on investment opportunities in logistics services and transportation.
They also committed to intensifying their coordination in support of China’s Silk Road development initiative. The participants expressed their pleasure at the high level of cooperation in air transport and aviation buoyed by initiatives such as an Open Skies agreement serving the best interests of their nations.
Al Mansoori also discussed areas of cooperation with the Republic of Macedonia during his meeting with Jerry Naumoff, Minister of State for Foreign Investments, and Arlind Zekegiri, Minister of Foreign Direct Investment.
They pointed out the importance of organizing more bilateral visits and meetings at the governmental and private levels to exchange information on important investment opportunities and areas of cooperation and share expertise, focusing on sectors prioritized by the economic agendas of their respective countries, according to a statement from the UAE ministry.
Agriculture, mining, renewable energy…
The meetings with the ministers of trade and industry of African countries, on the other hand, centred on investment prospects in agriculture, mining, renewable energy and infrastructure, all of which are foreseen to energize regional and international development partnerships in light of global efforts to ensure sustainable growth.
During his meeting with Dr. Abrahao Pio dos Santos, Minister of Economy of Angola, Al Mansoori emphasized the importance of strengthening cooperation in agriculture and food industries in line with the UAE’s prioritization of food security, taking into consideration Angola’s extensive natural resources.
The Angolan minister outlined local investment incentives in various sectors, most notably agriculture, mining, diamonds, and precious stones.
He also pointed out his government’s commitment to overcoming all investment obstacles and providing facilities that can boost the presence of UAE investors in the Angolan market.
During the meeting with Sylvia Lucas, Premier of the Northern Cape Province of South Africa, the parties discussed opportunities for cooperation in the fields of mining, renewable energy, and logistics. They praised the high level of cooperation in aviation and air transport between their countries.
Hospitality and tourism
The Premier said that her country is interested in attracting more UAE investments in the fields of infrastructure development, renewable energy, hospitality and tourism, explaining that South Africa has a variety of tourist destinations that offer very promising investment opportunities into related infrastructure.
Al Mansoori also met with the Republic of Konimba Sidibe, Mali’s Minister of Investment Promotion and Private Sector, and talked about developing mechanisms for advancing bilateral economic and commercial relations and benefitting more from the elements, capabilities and resources available in both countries.
Mali’s minister reviewed various opportunities for further promoting bilateral trade, specifically in agricultural crops and livestock. He said that his country’s government is providing more facilities for investors in these sectors to establish manufacturing stages for raw materials to add value to the national economy, the authorities said.