Ministry of Economy Seeks Stronger Economic Cooperation with Australia
H.E. Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy (MOE), and H.E. Steven Ciobo, Australia's Minister for Trade, Tourist and Investment, recently met to go over the fortifying of financial collaboration in industries of mutual rate of interest. The two preachers highlighted the current advancements concerning the execution of recommendations and cooperative frameworks settled on throughout the initial session of their countries' Joint Economic Board held in Sydney in November 2017.
The meeting was participated in by MOE officials H.E. Eng. Mohammed Bin Abdul Aziz Al Shehhi, Undersecretary of Economic Affairs; H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary for Foreign Trade Matters; and Abdullah Al Hammadi, Director of the Tourism Division. H.E. Arthur Milton Spiro, Ambassador of Australia to the UAE, and H.E. Australian Consul General in Dubai and Senior Trade Commissioner, also attended.
H.E. Engr. Al Mansoori said that the UAE appreciates strong financial connections with Australia and that they have experienced significant mutual growth over the past couple of years driven by the exchange of gos to, delegations, and economic activities. The initial session of the countries' Joint Economic Committee kept in the last quarter of 2017 in Sydney marked an essential action that caused crucial recommendations and arrangements for enhancing participation and partnership throughout a number of vital areas - most especially trade, investment, tiny- and medium -sized enterprises, innovation, farming, food products, economic solutions, tourism, civil aeronautics, and education.
His Excellency added that their total bilateral non-oil trade reached a high of AED 10.4 billion (greater than USD 2.8 billion) at the end of 2016, with the rate expected to expand additionally in the years to coming after the execution of board results and the stages and devices of cooperation agreed on.
For his part, H.E. Ciobo said Australia considers the UAE a vital financial ally, which their joint visits mirror the common need to boost discussion and move relations to extra extensive horizons. He pointed out the importance of the results of the first Joint Economic Board job between the two nations which he said has actually laid out a clear framework and devices for pressing common initiatives to establish financial, trade and investment relationships forward.
