October 11, 2008

UAE boosts its share in global trade to AED 1 trillion

It is reported that UAE has become a top 30 global trading nation as it boosted its share in global trade to AED 1 trillion from AED 150.4 billion in 2007. Ms Shaikha Lubna Al Qasimi UAE minister for foreign trade said that "Our government’s vision of progress will further enhance our business environment and strengthen our external trade."

She said that the ministry of foreign trade is focusing on key regulatory reforms and intensified enforcement of trade policies that will improve the UAE’s trading environment. She added that "My ministry is also collaborating with regional leaders to enhance inter Gulf trade and thus make this region an even more attractive international investment and business destination."

She said that during her tenure as minister of economy, UAE achieved double digit growth in foreign direct investment. She added that "I look forward to attaining the same level of success as we partner for more progress for our respective nations."

She lauded the efforts of Swiss Business Councils in Dubai and Abu Dhabi in particular for being instrumental in promoting business opportunities in the country. She said "This non profit, independently managed branches have been aggressively promoting the interests and activities of companies and individuals with interests in the UAE and Switzerland."

It may be noted that European delegates from Germany, Sweden, France, Italy, Spain, Denmark and the Netherlands discussed the strengthening of ties among their respective countries with Switzerland and the UAE, and also affirmed their commitment to the goals of the Swiss British Council.