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123854
Mon, 05/24/2010 - 13:54
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https://oananews.org//node/123854
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UAE Minister of Economy holds meetings with Algerian officials
Algiers - May 24, 2010 (WAM)- UAE Minister of Economy Sultan Bin Saeed Al Mansouri who led the UAE delegation to the eighth Joint UAE-Algerian Committee meeting held talks with Algerian ministers and senior officials on ways to further promote cooperation on tourism, banking, finance, investment and industries.
In remarks during the meetings, Al-Mansouri stressed that the UAE-Algerian relations are constantly progressing under directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Algerian President Abdelaziz Bouteflika. At his meeting with Algerian Minister of Urban Planning, the Environment '&' Tourism Cherif Rahmani on boosting cooperation on tourism and environment and the UAE's investment in Algeria, Al-Mansouri stressed that Algeria is a strategic investment destination for UAE entrepreneurs offering promising growth opportunities in several sectors.
He also noted that the UAE, as part of its efforts to diversify income and expand its economic base, has given great attention to tourism, infrastructure and its natural and archaeological resources which attract around 8 million foreign tourists annually to hundreds of hotels throughout the UAE.
A large clientele of the rich and the highest spending tourists has been built by the UAE's successful meetings, incentives, conferences, and exhibitions industry, or MICE, according to Al-Mansouri. MICE tourists who visit the UAE spend 30% more than regular tourists do, he noted.
Al-Mansouri said that the UAE serves as a strategic hub for Algeria and as a gateway to the Middle East, stressing that the UAE is doing its best to offer foreign investors an ideal and profitable investment environment.
Al Mansouri explained the UAE's policy of diversifying income resources, and the vital role played by the tourism sector and its contribution to the economy. The country's modern infrastructure and various attractions make it an attractive tourism destination, he said, adding that the UAE is the fifth leading destination in the world in hosting exhibitions and events after the UK, France, Japan and Canada, which makes it a popular business travel destination too. He said that the UAE is open to sharing its expertise in the tourism sector with Algeria.
Mr. Rahmani congratulated the UAE for the great successes achieved by nation. He also lauded UAE's efforts and commitments towards environment related issues and its leading position in renewable energy, having chosen as the headquarters of IRENA International Renewable Energy Agency.
Al-Mansouri also met Mr. Hamid Temmar, Algerian Minister of Industry and Investment Promotion. The two ministers discussed possible areas of cooperation in industrial and investment sectors now and in the future.
Al-Mansouri said that Arab market is mature enough to host and establish sophisticated industries, as it has easy access to all necessary components such as capital, human and infrastructure do exist. He said that UAE is also focusing on the Industrial sector and decrease the dependence on oil and gas sectors.
The industrial sector has contributed to 15% of GDP and is expected to achieve 20% share in the coming years. The country has over 4644 industrial firms with a capital of 81 billion exist in UAE.
Al-Mansouri also met the Governor of the Central Bank of Algeria Mohammed Laksaci and discussed how to strengthen relations between the UAE and Algerian financial organisations. He stressed the importance of permitting UAE banks to establish branches in Algeria and the value they add to the Algerian financial systems. Al Mansouri said that the UAE financial system in UAE is stable, reiterating that the liquidity ratio is good and sufficient to finance various development projects. – Emirates News Agency, WAM
In remarks during the meetings, Al-Mansouri stressed that the UAE-Algerian relations are constantly progressing under directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Algerian President Abdelaziz Bouteflika. At his meeting with Algerian Minister of Urban Planning, the Environment '&' Tourism Cherif Rahmani on boosting cooperation on tourism and environment and the UAE's investment in Algeria, Al-Mansouri stressed that Algeria is a strategic investment destination for UAE entrepreneurs offering promising growth opportunities in several sectors.
He also noted that the UAE, as part of its efforts to diversify income and expand its economic base, has given great attention to tourism, infrastructure and its natural and archaeological resources which attract around 8 million foreign tourists annually to hundreds of hotels throughout the UAE.
A large clientele of the rich and the highest spending tourists has been built by the UAE's successful meetings, incentives, conferences, and exhibitions industry, or MICE, according to Al-Mansouri. MICE tourists who visit the UAE spend 30% more than regular tourists do, he noted.
Al-Mansouri said that the UAE serves as a strategic hub for Algeria and as a gateway to the Middle East, stressing that the UAE is doing its best to offer foreign investors an ideal and profitable investment environment.
Al Mansouri explained the UAE's policy of diversifying income resources, and the vital role played by the tourism sector and its contribution to the economy. The country's modern infrastructure and various attractions make it an attractive tourism destination, he said, adding that the UAE is the fifth leading destination in the world in hosting exhibitions and events after the UK, France, Japan and Canada, which makes it a popular business travel destination too. He said that the UAE is open to sharing its expertise in the tourism sector with Algeria.
Mr. Rahmani congratulated the UAE for the great successes achieved by nation. He also lauded UAE's efforts and commitments towards environment related issues and its leading position in renewable energy, having chosen as the headquarters of IRENA International Renewable Energy Agency.
Al-Mansouri also met Mr. Hamid Temmar, Algerian Minister of Industry and Investment Promotion. The two ministers discussed possible areas of cooperation in industrial and investment sectors now and in the future.
Al-Mansouri said that Arab market is mature enough to host and establish sophisticated industries, as it has easy access to all necessary components such as capital, human and infrastructure do exist. He said that UAE is also focusing on the Industrial sector and decrease the dependence on oil and gas sectors.
The industrial sector has contributed to 15% of GDP and is expected to achieve 20% share in the coming years. The country has over 4644 industrial firms with a capital of 81 billion exist in UAE.
Al-Mansouri also met the Governor of the Central Bank of Algeria Mohammed Laksaci and discussed how to strengthen relations between the UAE and Algerian financial organisations. He stressed the importance of permitting UAE banks to establish branches in Algeria and the value they add to the Algerian financial systems. Al Mansouri said that the UAE financial system in UAE is stable, reiterating that the liquidity ratio is good and sufficient to finance various development projects. – Emirates News Agency, WAM
