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UAE Economy Minister Receives Australian Minister

Source: www.export-egypt.com 1/26/2016, Location: Middle East

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Sultan bin Saeed Al Mansouri, Minister of Economy, and Richard Colbeck, Australian Minister for Tourism and International Education and Minister Assisting the Minister for Trade and Investment, have discussed means of boosting economic and trade cooperation between the UAE and Australia.

During the meeting, which was attended by the Australian Minister's accompanying delegation, they discussed the outstanding relations between the two countries in various economic fields and ways of enhancing them especially with regard to innovation and scientific research fields.

The two sides hailed the open atmosphere between the two countries and the density of air traffic between them, that have contributed to building a strong and constructive relations, especially in terms of trade and tourism exchanges.

Al Mansouri stressed the strong bilateral ties between the two countries, which witnessed further development particularly in terms of economic and trade fields, noting that Australia is one of the most strategic trading partners of the UAE as the volume of non-oil trade amounted to more than $2.5 billion, equivalent to AED 9.5 billion during 2014.

He added that the UAE has a large number of Australian companies operating in the country, in addition to more than 60 trade agencies and about 1,081 Australian trademarks represented.

The meeting also touched on economic and trade ties between Australia and the Gulf Cooperation Council.

The Australian Minister said that the UAE and Australia share long-term bilateral relations, noting that the volume of trade exchange between the two countries has witnessed remarkable growth as well as cooperation in the scientific and educational field.

He added that the UAE is one of the most attractive destinations for Australian investments in the region because of its competitive market, attractive business climate and infrastructure, making it a major commercial hub in the region.

He explained that his government is working to encourage Australian companies to invest in the UAE and boost cooperation relations between the two sides.

The meeting was attended by Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry Affairs, Arthur Milton Spiro, Ambassador of Australia, along with a number of senior officials from both sides.

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