DUBAI: The UAE today discussed opportunities to enhance economic and trade cooperation with Asian, European and African countries during the 7th Annual Investment Meeting (AIM) in Dubai, UAE. The UAE’s Minister of Economy, Eng Sultan bin Saeed Al Mansoori, received a number of senior government officials and heads of regional and international organisations from these countries. The AIM 2017 concluded its three-day session today (April 4), at the Dubai World Trade Centre under the theme ‘International Investment, Path to Competitiveness & Development.’ 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, said a statement.
Among the sectors discussed for their potential to boost regional and international development partnerships were aviation, agriculture, logistics, mining, and renewable energy, it said. The sessions were attended by Ministry officials Abdullah Al Saleh, undersecretary for Foreign Trade and Industry, and Juma Mohammed Al Kait, assistant undersecretary for Foreign Trade Affairs, along with other senior ministry figures and advisors. Eng 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, it said.
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, it added. 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. Moreover, 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.
Eng 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 organising 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 prioritised by the economic agendas of their respective countries. 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 Abrahão Pio dos Santos, Minister of Economy of Angola; Eng Al Mansoori emphasised the importance of strengthening cooperation in agriculture and food industries in line with the UAE’s prioritisation 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. 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.
During his meeting with the Republic of Mali’s Minister of Investment Promotion and Private Sector, Al Mansoori 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 of Investment 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 UAE Minister of Economy also held bilateral meetings with the Minister of Industry and Trade of the Republic of Sri Lanka; the head of the export and investment promotion agency of El Salvador; Mukhisa Kituyi, secretary general of the United Nations Conference on Trade and Development (UNCTAD); and Dr Nael Al Kabariti, president of the Union of Arab Chambers of Commerce, Industry and Agriculture, it stated.
