ID :
169957
Tue, 03/22/2011 - 12:03
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Shortlink :
https://oananews.org//node/169957
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Al-Mansouri: UAE offers strong environment for growth for EU investments
Abu Dhabi, Mar 22, 2011 (WAM) - Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, said that the UAE offers a safe investment environment for European countries looking at investing in the Middle East region. He also highlighted the increase in trade between the UAE and European nations, and underscored the potential for growth across diverse economic sectors, during his meeting with Martin Zeil, the Bavarian State Minister of Economic Affairs, Infrastructure, Transport and Technology and the Deputy minister President of State of Bavaria, who leads a high level delegation to the UAE.
During the meeting, Al Mansouri emphasised that 2011-2012 will witness remarkable growth in trade with Europe. He added that there are over 3000 foreign companies operating in the UAE, and expected a large increase in foreign investment flows into the UAE following legislative reforms taking place in the UAE.
He said that the UAE received more than US$51 billion in foreign direct investment, accounting for nearly 16 per cent of the total investment inflow to the Arab economies. The volume of German investment reached 371 million Euros in 2009.
Al Mansouri said the UAE offers a strong investment climate and advanced business environment which meets the needs and ambitions of German institutions and companies, especially in the sectors of aviation, nuclear and renewable energy and tourism.
He pointed out that there is a notable presence of German companies in the UAE, with more than 700 businesses operating in the UAE, covering different economic sectors, such as technology, communications, tourism, transportation, health services, education and training, electricity, water, energy, infrastructure, construction and industry.
During the meeting both sides underlined the importance of stronger cooperation in the field of alternative energy, especially with the UAE and Germany exerting great efforts in the area. They stressed the importance of encouraging the use of hybrid cars and alternative energy technologies in line with UAE's Commitment to sustainable development.
In the area of investments, both parties agreed on the need to strengthen exchange of information about investment opportunities in both countries.
Al Mansouri said that the UAE is taking concerted initiatives to increase the UAE's exports to Germany in order to promote a balance in trade between the two countries.
Germany is the fourth largest trade partner of the UAE with the value of non-oil trade in 2009 amounting to about US$8.5 billion, and US$6.6 billion in the first ten months of 2010.
On his side, the German Minister expressed his country's keenness to strengthen trade relations with the UAE in various areas and sectors. He pointed out that his country looks forward to the commitments agreed upon during the last meeting of the Joint Commission.
Both sides emphasised the importance of the efforts made by the business community in the two countries to strengthen and expand areas of bilateral economic cooperation, stressing the key role played by the German-Emirati Joint Council for Industry and Commerce (AHK). - Emirates News Agency, WAM
During the meeting, Al Mansouri emphasised that 2011-2012 will witness remarkable growth in trade with Europe. He added that there are over 3000 foreign companies operating in the UAE, and expected a large increase in foreign investment flows into the UAE following legislative reforms taking place in the UAE.
He said that the UAE received more than US$51 billion in foreign direct investment, accounting for nearly 16 per cent of the total investment inflow to the Arab economies. The volume of German investment reached 371 million Euros in 2009.
Al Mansouri said the UAE offers a strong investment climate and advanced business environment which meets the needs and ambitions of German institutions and companies, especially in the sectors of aviation, nuclear and renewable energy and tourism.
He pointed out that there is a notable presence of German companies in the UAE, with more than 700 businesses operating in the UAE, covering different economic sectors, such as technology, communications, tourism, transportation, health services, education and training, electricity, water, energy, infrastructure, construction and industry.
During the meeting both sides underlined the importance of stronger cooperation in the field of alternative energy, especially with the UAE and Germany exerting great efforts in the area. They stressed the importance of encouraging the use of hybrid cars and alternative energy technologies in line with UAE's Commitment to sustainable development.
In the area of investments, both parties agreed on the need to strengthen exchange of information about investment opportunities in both countries.
Al Mansouri said that the UAE is taking concerted initiatives to increase the UAE's exports to Germany in order to promote a balance in trade between the two countries.
Germany is the fourth largest trade partner of the UAE with the value of non-oil trade in 2009 amounting to about US$8.5 billion, and US$6.6 billion in the first ten months of 2010.
On his side, the German Minister expressed his country's keenness to strengthen trade relations with the UAE in various areas and sectors. He pointed out that his country looks forward to the commitments agreed upon during the last meeting of the Joint Commission.
Both sides emphasised the importance of the efforts made by the business community in the two countries to strengthen and expand areas of bilateral economic cooperation, stressing the key role played by the German-Emirati Joint Council for Industry and Commerce (AHK). - Emirates News Agency, WAM
