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Reem Al Hashemi tours Pacific Ocean

posted on 27/06/2009: 1064 views

UAE Minister of State Reem Al Hashemi held talks with top officials of countries in the Pacific Ocean over ways of enhancing relations of friendship and cooperation between the UAE and their respective countries in diverse areas as economy, trade, tourism, culture, agriculture, education, renewable energy and humanitarian and charitable works.

The UAE minister's whirl tour of Fanwato, Fiji Islands, Tunja, Samoa, Carpatii, Narawa and Papua New Guinean underlined the sincere desire of the country's leadership to open up avenues of mutual interests and forge economic and investment partnerships with these friendly countries.

Al Hashemi hoped that her trip would further boost bonds friendship and cooperation to the level of aspirations the two sides aspire for.

'The two sides have shown a common desire to scale new heights of cooperation that serves their mutual interest,'she added.

Al Hashemi invited the Pacific Ocean nations to benefit from the attractive legislative and economic environment the UAE offers to increase their investment, and participate in international trade conferences and fairs which stimulate trade exchange.

'The UAE is keen to provide an ideal environment for businesses, offer incentives and facilities to attract qualitative global investment and spur investors to establish high-feasible economic ventures in the UAE which boast a stable, secured investment hub,'she said.

Officials of the Pacific Oceans countries hoped the visit of the UAE minister would push relations of friendship and cooperation ahead. They praised the progress achieved by the UAE in the socio-economic and cultural sectors.

They noted that the firm global competitive edge of the UAE had turned it into an important global economic, trade and business hub for regional and international companies. The UAE, they added, serves as a leading destination for projects in real estate, infrastructure, sources of renewable energy and sustainable development.

Meanwhile, Papua New Guinean welcomed a plan by Abu Dhabi-based International Petroleum Investment Company (IPIC) to acquire a 17.6 per cent stake in Oil Search Limited, a company listed on the Australian Securities Exchange.

IPIC and the Papua New Guinea (PNG) government - through its nominee, Independent Public Business Corporation - signed an agreement in that respect.

"The acquisition is structured by way of a five-year exchangeable bond for A$1.68 billion (Dh3.92 billion)," IPIC said.

The statement added that the strategic investment provides IPIC with "material exposure to a significant near-term liquefied natural gas (LNG) project in the Asia Pacific, the PNG LNG project operated by ExxonMobil." The project signals a milestone in the economy of Papua New Guinean and represents one of the most important energy investment in the Asia and Pacific Ocean region.

They Pacific Ocean officials invited more UAE investment in energy, environment and infrastructure and hoped the Emirates Airline would launch flights to their countries.

A joint statement for establishing diplomatic ties at ambassadorial level between the UAE and Fanwato was signed at the end of the tour. – Emirates News Agency, WAM


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