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Lubna meets Argentinean Minister

posted on 28/11/2006: 831 views

Minister of Economy Sheikha Lubna Al Qasimi welcomed Argentinean businessmen to avail of investment opportunities and to take part in exhibitions and conferences in the country, during a meeting today with the Argentinean Production Minister for Buenos Aires, Debora Giorgi.

Sheikha Lubna and the Argentinean minister praised the economic and diplomatic relations between the two countries and exchanged views on FTA negotiations. Biorgi stressed on enhanced economic and trade relations between Argentinean investors/businessmen and the UAE and suggested that investors back home capitalize on the economic boom in the UAE as the door for GCC and the region especially on value added-projects.

The Argentinean official extended an invitation to Sheikha Lubna to visit Argentina and also called on UAE investors to expand to Argentina and Latin America and benefit form the incentives offered to them there.

Sheikha Lubna, on her part, said that UAE is witnessing an economic boom due to its diversity of economy apart from oil and added that the UAE offered an ideal environment for business. She said that the country is keen on getting more investors in food industry, aluminium and steel, real estate and others.

She advised the Argentinean delegation to approach different organizations like Aida, Chambers of Commerce, free zones and other institutes in Abu Dhabi and Dubai and other emirates to check out on investment opportunities.

The UAE and Argentina enjoy strong economic relations. Figures show the total trade volume in 2005 between the two countries was Dh1089 million and balance of trade Dh1071 million while imports from Argentina reached Dh1080million and exports to Argentina Dh5 million and re-export Dh4 million. (Emirates News Agency, WAM)


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