Minister of Economy Discusses Development of Economic Cooperation with Australia

• Sultan Al Mansoori Meets Australian Ambassador
• Commends Two-way Trade between the UAE and Australia that Registered US$6 Billion in the past few years
• Australian Investments in the UAE Estimated at US$1.6 Billion in 2012

Dubai-UAE: 12 March, 2014 – His Excellency Sultan Al Mansoori, UAE Minister of Economy, today commended the sustained efforts of the UAE and Australia in furthering bilateral economic ties and cooperation.

The Minister’s comments came at a meeting with His Excellency Pablo Kang, the Australian Ambassador to the UAE at the offices of the Ministry of Economy in Dubai.

The discussion focused on areas of collaboration on strategic projects across the economy, industry, tourism and investment domains with a view to boosting economic development in the two countries. The two sides additionally reviewed evolving opportunities in the food products and agriculture sector.

Al Mansoori said: “Australia’s strong economic and tourism development agenda has transformed the country into a globally attractive destination for foreign investors and tourists. The UAE on its part offers excellent opportunities given its advanced facilities, harmonious trading environment, legislations and strategic location.

“Both the UAE and Australia have similarities in terms of the openness and flexibility they offer to investors. We endeavor through such bilateral meetings to strengthen ties with our trading partners with the aim of developing the UAE economy by identifying further opportunities and areas of collaboration.  ”

Ambassador Kang reiterated Australia’s keenness to develop a stronger economic partnership with the UAE and said that political will and sustained governmental efforts on both sides would help develop greater synergy to consolidate the leading economic and trade positions that the UAE and Australia enjoy internationally.

The Australian Ambassador extended an invitation to the UAE Minister from His Excellency Andrew Robb, Australian Minister of Trade and Investment, to attend the Australia Unlimited exhibition that will be organised in Abu Dhabi and Dubai in April 2015.

The UAE enjoys a strong relationship with Australia and is one of its most important economic partners in the region. Mutual trade grew significantly in recent years to reach US$6 billion. In 2012, Australian investments in the UAE were estimated at $1.6 billion.