Lubna Al Qasmi and Chilean FM Discuss Trade Cooperation

Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade has affirmed UAE's keenness to bolster economic relations with Republic of Chile and other Latin America's countries as per directives of the wise leadership aimed at boosting partnership and cooperation bonds with different countries around the globe. She said this during her meeting with Alfredo Moreno, Chile's minister of Foreign Affairs and his accompanying delegation here at the ministry's headquarter.

Sheikha Lubna briefed the minister on the economic position which the UAE has attained at the global level through adopting economic openness policy to the world as well as strengthening economic partnership channels and also by presenting a package of facilities to attract foreign investment. She underlined the geographical location of UAE as a strategic gateway for trade between the East and the West pointing to the active role of Jebel Ali Port and free zones in the country in developing and stabilizing this remarkable position.

She also briefed the minister about the developments on environmental sector and renewable energy referring to several events and global summits which the county will host in the near future. For his part, Alfredo Moreno hailed the vision of UAE in dealing with environmental issues and challenges as well as the great achievement in the renewable energy field despite being one of the oil-rich countries in the world since it plays a constructive role in enhancing the pace of global partnership in all areas.

In the attendance were Abdullah Al Saleh Assistant Undersecretary of Ministry of Foreign Affairs and Jean-Paul Tarud-Kuborn, Ambassador of Chile to the UAE. It is worthy to be mentioned that the volume of trade exchange between the two countries has seen a recent surge which grows by 49% in 2011 in comparison to 2010 and the UAE exports to Chile jumped to 4.96 % in 2011 in comparison to 2010 and the growth rate reached to 105.7% in the re-export sector. As for direct exports, it witnessed an increase of 20% during this period.