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UAE and Italy will work closely to enhance ties

posted on 12/06/2011: 724 views

Verona, Italy - Vice-President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum witnessed yesterday, the signing of the final statement of the fourth session of the UAE-Italian Joint Economic Committee, which was held in the Italian city of Verona. A memorandum of understanding between the two countries for cooperation in small and medium enterprises was also signed during the session.

UAE Minister of Economy Sultan Bin Saeed Al Mansouri and Italy's Minister of Economic Development Paulo Romanian signed the statement in the presence of senior officials from both sides.

Sheikh Mohammed graced the signing of the statement and said that it comes within the framework of the keenness of our leadership and government to establish economic alliances and strategic partnerships with various friendly countries, especially the major world economies.

He also asserted that our country was able, thanks to its openness and approach in strengthening the national economy, to enhance its economic status internationally and to enjoy the confidence of the business and finance community worldwide and to earn the trust of the investors in various economic sectors.

Upon arrival at the meeting site, Sheikh Mohammed was received by Sultan Saeed Al Mansouri and Paulo Romanian along with other members of delegations. The joint statement contains a set of practical steps that promote the desired cooperation, especially in the sectors of trade and investment, tourism, industry, agriculture and financial services as well as in small and medium enterprises.

It also calls for cooperation in protecting intellectual property rights.

The statement also stressed the need for exchanging information on legislative systems and investment climates on both sides, and emphasised the importance of activating the private sector's role and participation in building bridges of strong mutual investment.

The parties also agreed to exchange visits to industrial Free Zones and to cooperate on the development of specialised zones to attract foreign investment.

The statement also calls for strengthening bilateral cooperation in the field of alternative energy and sustainable development.

To ensure the implementation of the statement the two countries agreed to exchange periodic semi-annual reports to assess the progress in this regard. - Emirates News Agency, WAM


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