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Lubna Al Qasimi meets Swedish Foreign Trade Minister

posted on 07/11/2007: 613 views



Economy Minister Sheikha Lubna bint Khalid Al Qasimi received here yesterday Ewe Boiling, Swedish Minister of foreign Trade and her accompanying delegation, currently on a visit to the UAE. Sheikha Lubna and Boiling discussed ways to boost economic relations in all fields, as well as the role of private sector in developing economic and commercial cooperation between the two countries. The two sides agreed on the need to increase contacts between businessmen and investors in the two countries to further develop economic ties. They also discussed the latest developments of the ongoing talks on signing a Free Trade Agreement (FTA) between the GCC and EU countries.

Sheikha Lubna said that UAE's economy enjoyed a robust growth, thanks to the dedicated policies of the country's leadership. She added that the Economy Ministry is currently bent on drafting several laws on commercial companies, investment and competition. The Ministry is also reviewing current economic laws to cope with the growing needs of national economy and to expand the private sector's role in the economic development. Sheikha Lubna underlined the diversification strategy's role in increasing non-oil sectors contribution in the GDP from 46 percent in 1990 to 62.5 percent in 2006.

The Swedish Minister lauded the progress of relations between her country and the UAE. She also expressed admiration of the progress attained by the UAE in all fields. Trade between the UAE and Sweden witnessed significant growth as it rose from Dh 1.1 billion in 2002 to 2.1 billion in 2006. UAE's exports and re-exports to Sweden increased from Dh 20 million to 42 million, while its imports went up Dh 1 billion to Dh 2 billion 2ithin the same period. (Emirates News Agency, WAM)

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