UAE, Slovenia seek to boost economic ties

Abu Dhabi / WAM

Sultan bin Saeed Al Mansouri, the UAE Minister of Economy, and Dr. Milo Cerar, Prime Minister of Slovenia, discussed the promotion of economic ties and strengthening of commercial, investment and tourism co-operation between the two countries.
The meeting between the two parties was held on the sidelines of the 5th World Government Summit.
The two parties deliberated on the sustained efforts undertaken so far to develop co-operation through mutual visits, the establishment of joint projects, revival of commerce and investment opportunities, and strengthening of communication between the UAE and Slovenian communities.
They also discussed the ongoing preparation for the first meeting of the Joint Economic Committee that would contribute to the setting up of a specific framework for co-operation in important sectors, including tourism, information technology, food industries and civil aviation, in addition to opening communication channels to continue the progress, raise the level of co-ordination and overcome obstacles and challenges.
The economic and investment relations between the UAE and Slovenia witnessed important developments during the past few years, including the economic and technical co-operation agreement in 2015, aimed at establishing the Joint Economic Committee, and led to a new phase of co-operation in many sectors, such as industry, infrastructure, technology, transportation, investment, tourism and trade, Al Mansouri affirmed.
The UAE’s keenness to promote co-operation between the two countries is in compliance with the nation’s strategic goals to strengthen economic ties with other countries and serve its vision to build a competitive global economy based on knowledge and creativity and led by high-calibre national talents, he stated.
These efforts are reflected in several fields such as the commercial exchange that witnessed substantial development last year, despite the contraction of world trade, he added.
The non-oil trade between the two countries during the first nine months of 2016, including free zone trade reached $90 million, while it was $102 million in 2015, he revealed. These numbers are still falling short of the goals of both parties and do not reflect the various opportunities in both the economies, despite their positivity, he pointed out.
The common factors between both countries offer multiple opportunities for future co-operation. For example, both have similar development visions, and give priority to creativity, knowledge and technology, he noted.
Strengthening investment in value-added sectors and developing foreign trade is considered the cornerstone of a sustainable economy, he remarked, while observing that both countries enjoyed similar economic benefits such as geographical locations and attractive touristic components.