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Lubna Al Qasimi discusses economic cooperation with South Africa

posted on 06/11/2007: 646 views

Sheikha Lubna Bint Khalid Al Qasimi, Minister of Economy discussed with the Prime Minister of the Limpopo Province of South Africa, Sello Moloto, ways of enhancing bilateral relations between UAE and South Africa, especially in the field of economy and trade. Sello Moloto is visiting the country leading a delegation from South Africa.

The two sides reviewed the vast investment opportunities existing in both countries, especially in the fields of mining, industry and agriculture. They also stressed the need for partnerships and joint projects between businessmen in both the countries.

Sheikha Lubna said that UAE's economy is growing steadily, thanks to the prudent leadership of the country and its strategic vision. She also said that a number of legislations are in the pipeline to encourage and protect investment and competitiveness. A number of existing laws are also being revised in order to encourage the private sector enabling them to keep abreast with the global competition.

On his side, the Prime Minister of the Limpopo Province hailed the remarkable growth being witnessed by UAE's economy and reiterated his country's desire to set up partnership with UAE in economic fields. During the past years the two-way trade between UAE and South Africa has registered a steady growth from the value of Dh910 million to Dh2.5 billion in 2006. (Emirates News Agency, WAM)


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