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Abu Dhabi / WAM
Mohammed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, met Jose Luis Kaiser, Director-General of the International Trade Office of Spain, and his accompanying delegation, to discuss means of developing the economic, commercial and investment cooperation between the UAE and Spain.
During the meeting, which took place at the ministry’s headquarters in Abu Dhabi, the participants discussed their ongoing economic relations and joint efforts to promote partnerships in various sectors. Both side highlighted the importance of the outcomes and decisions of the fourth Joint Emirati-Spanish Economic Committee, which took place in Dubai last October while discussing the monitoring of their efforts to implement the committee’s recommendations, with the aim of improving the cooperation between the business sectors of both countries and supporting the preparations of Spanish companies that will participate in Expo Dubai 2020, as well as improving their customs cooperation, to promote commercial trade and investment.
Al Shehhi said that the UAE and Spain have succeeded in creating prosperous partnerships in many vital economic sectors and have worked together to explore the new development and cooperation opportunities, which led to significant levels of trade, as the total value of their non-oil foreign trade in 2017 reached over $2.2 billion.
He added that the committee’s previous meeting resulted in the drafting of a programme to develop their partnership, according to a clear vision and well-planned mechanisms that include promoting mutual trade, encouraging mutual investments, and strengthening cooperation in innovation, small and medium-sized enterprises and research and development, as well as benefitting from opportunities created by Expo Dubai 2020 and establishing effective public and private partnerships.
Al Shehhi explained the UAE’s efforts to achieve sustainable development and strengthen its economic competitiveness, by utilising knowledge and innovation and creating an investment environment that can provide incentives, in line with the UAE Vision 2021 and the nation’s strategic innovation goals.
Kaiser praised the economic cooperation between Spain and the UAE and highlighted the importance of continuing their joint efforts to provide a suitable and attractive environment, to promote and develop economic, commercial and investment partnerships.
He also praised their joint commercial projects and activities during the previous period.
The Spanish delegation expressed its desire to cooperate with federal and local government authorities in the UAE, to develop partnerships in the areas of health, education, innovation, customs and infrastructure.