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UAE and France to raise trade exchange by 50% in next five years

posted on 16/01/2013: 1908 views

The UAE and France expressed yesterday their commitment to raise trade exchange by 50% in the coming five years, double tourist flow between the two countries and launch joint development projects in other countries.

A presidential statement issued here yesterday at the end of the visit of French President Francois Hollande to the UAE said President His Highness Sheikh Khalifa bin Zayed Al Nahyan received on 15 January 2013 French President Francois Hollande, on his first trip to the UAE. The French head of state conducted talks with Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The two leaders highlighted the depth and strength of relations between the two countries since the born of the UAE. As two strategic partners, the UAE and France share views on a broad range of major regional and international political issues. The two countries were motivated by a joint vision to follow up progress in the distinguished bonds in light of current mega projects like the Paris-Sorbonne University Abu Dhabi (PSUAD) and the Louvre Abu Dhabi.

Welcoming the convening of the first UAE-France strategic dialogue hosted by Abu Dhabi on 7 November 2012, the two presidents expressed their determination to advance regional cooperation in areas of climate change, international financial regulations, food security and combating money laundering. The two countries were also looking forward to further develop bilateral relations in areas of culture and education and people-to-people contact.

As for the economic partnership, the two presidents will seek to expand economic and trade exchange, particularly in oil, renewable energy, nuclear energy, advanced technologies, land and air transport and services.

The two leaders also agreed to intensify joint cooperation and coordination to increase UAE investment in France and support presence of French companies in the UAE. In this respect, Sheikh Khalifa and President Hollande expressed their desire to create proper mechanisms necessary to maximise feasible investment to both sides especially in innovation-driven sectors like health, medical and infrastructure projects.

The two leaders also decided to set targets for expanding bilateral relations to raise trade exchange by 50% in the next five years, maximise the number of tourists between the two countries and engage together in development projects in other countries. The UAE-France strategic dialogue will be tasked with following up and supervising implementation of these objectives.

The two presidents stressed the vital importance of bolstering relations between the UAE and France in defence, building on their longstanding military partnership and maintaining the strong cooperation in defence equipment and supplies. - Emirates News Agency, WAM


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