Sultan bin Saeed Al Mansouri, Minister of Economy, and Patrizio Fondi, Ambassador of the European Union, EU, to the UAE, discussed the development cooperation between the UAE and the EU, focussing on their development, economic, commercial and investment partnerships.
Their discussion took place during their meeting at the ministry’s headquarters in Dubai, where both sides exchanged their opinions on regional and international economic developments and the outcomes of this year’s European parliamentary elections.
They also discussed several vital key topics on the meeting’s agenda, including the UAE’s potential hosting of the Joint Emirati-European Commercial Business Council during the Expo 2020 Dubai, and the negotiations on free trade agreements between EU and Gulf Cooperation Council, GCC, countries.
Al Mansouri said that the UAE and the EU enjoy solid relations that serve their joint interests and achieve mutual benefits while highlighting the UAE’s keenness to support their joint efforts to achieve growth, development, sustainability and advancement.
He added that EU countries combined are the UAE’s leading international commercial partner and the UAE is the most important commercial partner of EU countries in the region while noting that the UAE hosts the regional headquarters of several major European companies.
The coming period will provide more opportunities to develop and diversify the partnership between the two sides in many areas, including tourism and energy, he further added.
Fondi highlighted the excellent bilateral relations and the growing levels of trade between the UAE and EU countries, which is supported by the confidence of European investors and companies in the UAE’s business environment.
He also explained that the UAE hosts around 27 EU embassies while noting the existence of 20 Emirati business councils in the EU, which reflects the strong commercial and economic ties between both sides.
He then praised the current efforts of the EU Mission to enhance its existing partnerships with the UAE and the region’s other countries, and suggested the launch of a Joint Emirati-European Commercial Business Council next year in the UAE, as part of the activities of Expo 2020 Dubai, which will witness the participation of EU countries.