Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi and Australian Minister for Foreign Affairs and MP Stephen Smith discussed bilateral relations between their two countries. At a meeting held in Abu Dhabi in presence of Australian Ambassador to the UAE Jeremy Bruer, the two sides reviewed the latest developments in free trade talks between Australia and the Gulf Cooperation Council (GCC). The two sides underscored the significance of a free trade agreement for wider economic, investment and trade cooperation.
Sheikha Lubna invited Australian business community to tap investment potentials offered by the current economic boom in UAE as well as to set up joint businesses and partnerships with UAE investors.
Trade between the UAE and Australia reached around US$3.9 in 2005 up from US$2.4 billion in 2001. The number of Australian trademarks registered at the UAE Ministry of Economy reached 367 with 53 trade agencies and 15 companies operating in the UAE. – Emirates News Agency, WAM
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