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UAE to forger closer economic ties Australia: Al-Mansouri

Apr 24, 2011 - 08:37 -

WAM ABU DHABI: The UAE Minister of Economy, Sultan Bin Saeed Al Mansouri, has hailed the recent visit of a UAE delegation to Australia as a valuable step forward in economic relations between the two countries to exchange experiences and open new prospects for cooperation in the fields of innovation, research and development, technology, agriculture and livestock production, petrochemicals and other.

Al-Mansouri said: "Australia and the UAE share considerable common ground on a variety of important economic issues, and we expect even closer cooperation and more mutual investment opportunities as an outcome of this extremely fruitful meeting. This exercise has underlined the attractiveness of the UAE to foreign direct investment." Al-Mansouri and other UAE officials met with senior representatives of huge Australian companies that expressed a keen interest to invest in the UAE. The UAE delegation also met with senior figures in the Australian government.

To ensure continuity of cooperation with the Australian side at the same pace, the Ministry of Economy has adopted an integrated follow up mechanism to oversee the developments in bilateral relations between the two countries on both public and private sector levels.

Mohammed Ahmed Bin Abdul Aziz Al Shihhi, Undersecretary of the Ministry of Economy, said: "The visit has built on the strategic relationship the UAE enjoys with Australia that considers UAE a strategic gateway to the Middle East which enhances UAE's position on the world map. We have agreed with the Australian side to adopt a follow up mechanism that insures implementing all the projects and cooperation highlighted during the visit." Abdul Rahim Al Hammadi, Assistant Undersecretary for Support Services in the Ministry of Environment and Water said the visit contributed to opening up new cooperation with Australia in various sectors and specifically in the area of livestock production where it was agreed to develop mechanisms for coordination, to increase the supply of meat from Australia to UAE markets to satisfy the needs of the local market and specifically during the holy month of Ramadan.

Participants from the UAE business community in the delegation were enthusiastic about the potential positive knock-on effects on bilateral trade from the visit.

Khadem Al Darei, MD '&' Vice chairman, Al Dahra Agriculture said: "The visit identified attractive investment prospects in Australia and plenty of opportunities to share experiences and insights, as well as opportunities in the Agribusiness where we are keen to import livestock and fresh and frozen meat from Australia, in order to satisfy the local demand. We also discussed possibilities of investing in agriculture lands to produce basic commodities to support the strategic reserve of the UAE." Obaid Saeed Al Dhaheri, Director of International Affairs at Borouge, said: "There is no doubt that this strategic visit, chaired by HE Sultan Al Mansouri, Minister of Economy has provided us with an ideal opportunity to shed light on the nature of our company which seeks to strengthen business partnership with Australia and other emerging markets, in line with the vision the Government of Abu Dhabi 2030 to diversify the economy and enhance the role of non-oil sectors. We have gained a positive response from the Australian side to cooperate more closely in this field." .com WAM/MMYS