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Lubna Al Qasimi meets Maltese Minister of Finance and Economy

posted on 12/04/2010: 876 views





Minister of Foreign Trade HE Sheikha Lubna bint Khalid Al Qasimi discussed in Abu Dhabi yesterday with Maltese Minister of Economy, Finance and Investments HE Tonio Fenech areas of development of bilateral relations between UAE and Malta and ways to take advantage of existing investment opportunities on both sides.

At a meeting held at the Emirates Palace in Abu Dhabi, they also discussed how Malta and its major companies could benefit from the ideal and distinctive investment environment of UAE by way of strengthening its presence in the domestic market and expanding its trade with the region as well as Africa and Asia.

Sheikha Lubna gave an account of the overall development and investment opportunities in the UAE and the government's plans for further economic development through execution of massive projects to be set up in various areas, particularly industries, tourism and renewable energy.

The minister underscored UAE's ideal geographic location and the growth opportunities it offers for the global firms. She pointed out that the UAE economy is characterised by dynamism and constant evolution, especially in non-oil sectors, which increased its contribution to 66 per cent of the country's GDP.

She also highlighted the country's legislative environment conductive to investment and business, as well as the facilities the country offers for investors, in addition to the availability of many free zones in the fields of industry, commerce, education, health care, media and other vital sectors.

The Minister also shed light on the industrial development in focussing on heavy industries such as aluminium and iron, which can offer suitable opportunities to develop cooperation between the two countries. Sheikha Lubna also stressed UAE's the great interest in developing the renewable energy sector and cited its success in hosting the headquarters of the International Renewable Energy Agency (IRENA).

The Maltese Minister stressed his country's keenness on promoting trade and investment partnership with the UAE. He pointed out that the two countries have broad opportunities for cooperation and can be used in the development of bilateral relations in trade and economic development. He extended an invitation to Sheikha Lubna Al Qasimi to visit Malta to see the potential opportunities of cooperation.

The meeting was attended by Abdullah Ahmed Al Saleh, Director General of the Ministry of Foreign Trade, other senior officials at the ministry and members of Maltese delegation visiting the country. – Emirates News Agency, WAM

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