Economy Ministry official optimistic over UAE-Iran trade relations
A senior UAE Economy Ministry official has expressed optimism at the prospects of trade exchange between the UAE and Iran, and urged the private sector in both countries to take a leading role in boosting bilateral economic ties.
Abdullah bin Ahmed Al Saleh, Under Secretary of the Ministry of Economy said the UAE looked forward to more cooperation with Iran, in adherence to the GCC Ministerial Council's call on member states to participate proactively in the free trade negotiations between the GCC states and Iran. Al Saleh hoped that the agreement will help bring about stability and prosperity for the entire region.
Addressing the inaugural session of the UAE-Iran Investment Opportunities Conference, which opened in Dubai under the auspices of Economy Minister Sheikha Lubna Al Qasimi, Al Saleh urged the Iranians to engage in more investments in the UAE. The UAE, he said, offers excellent opportunities for investors.
Referring to the recent announcement by several Iranian investors of their interest in investing in the real estate sector in the UAE, the official stressed that abundant investment opportunities were available in the construction, tourism, industry, services, health, and education sectors.
"Despite huge revenues from oil and gas, the UAE Government has adopted several years a strategy of diversifying its economy. Thanks to that policy, the non-oil sector now contributes around 62.5 per cent of the UAE GDP," he said.
He noted that the UAE had assumed a leading role as a re-export hub. "The UAE has become the third biggest re-export hub in the world after Hong Kong and Singapore," he said.
The official disclosed that the Ministry of Economy was revising corporate and investment legislations to make them more responsive to the needs of the private sector and more conducive to investors. Source
Abdullah bin Ahmed Al Saleh, Under Secretary of the Ministry of Economy said the UAE looked forward to more cooperation with Iran, in adherence to the GCC Ministerial Council's call on member states to participate proactively in the free trade negotiations between the GCC states and Iran. Al Saleh hoped that the agreement will help bring about stability and prosperity for the entire region.
Addressing the inaugural session of the UAE-Iran Investment Opportunities Conference, which opened in Dubai under the auspices of Economy Minister Sheikha Lubna Al Qasimi, Al Saleh urged the Iranians to engage in more investments in the UAE. The UAE, he said, offers excellent opportunities for investors.
Referring to the recent announcement by several Iranian investors of their interest in investing in the real estate sector in the UAE, the official stressed that abundant investment opportunities were available in the construction, tourism, industry, services, health, and education sectors.
"Despite huge revenues from oil and gas, the UAE Government has adopted several years a strategy of diversifying its economy. Thanks to that policy, the non-oil sector now contributes around 62.5 per cent of the UAE GDP," he said.
He noted that the UAE had assumed a leading role as a re-export hub. "The UAE has become the third biggest re-export hub in the world after Hong Kong and Singapore," he said.
The official disclosed that the Ministry of Economy was revising corporate and investment legislations to make them more responsive to the needs of the private sector and more conducive to investors. Source
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