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Lubna meets Chinese Minster of Commerce in Guangzhou-China

posted on 16/10/2006: 693 views

Beijing - Minister of Economy Sheikha Lubna Al Qasimi met today Chinese Minister of Commerce Bo Xilai during the 100th session of the Chinese Export Commodities Fair in Guangzhou in China being held from October 15-17. The Chinese Minister welcomed Sheikha Lubna and commended the tremendous development of the UAE economy in all sectors including investments, commodities and services.

He also pointed out the strong economic relations between China and UAE (not applicable to oil and gas) at the industry and trade levels. Xilai explained the importance of such an event where several industrial companies meet under one roof and offer an opportunity for others to acknowledge Chinese product and work out trade deals with the rest of the world.

On her part, Sheikha Lubna commended the strong relations between UAE and China at the economic, trade and political level. She pointed out the success of UAE economy depends on diversification of income apart from oil and cited the development of services in areas of finance, tourism and construction as well as other areas.

Sheikha Lubna cited the importance of the negotiation of the Free Trade Agreement between GCC counters and China that will boost and bolster trade and commerce between the two parties and enhance the penetration of commodities and Trade service into different markets.

She also added that negotiations have reached an advanced stage on the issue of trade commodities and stressed the importance to reach an agreement on all such issues in the nearest future. Sheikha Lubna highlighted some obstacles that might hinder investors from reaching certain sectors in China, especially in the areas of satellite communications; as such investments face various procedural restrictions and called for supporting those projects and easing those procedures.

The Chinese Minister promised that such points raised by Sheikha Lubna will be considered and referred to the relevant departments. Sheikha Lubna extended an invitation to the Chinese Minister to visit UAE. The meeting between the two ministers was attended by the UAE ambassador to China, Mohamed Rashed Al Bout, and the Director of World Trade Organization Affairs and Free Trade Agreement at the Ministry of Economy, Juma Al Kait. (Emirates News Agency, WAM)


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