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UAE will continue to broaden its cooperation with Montenegro : Abdullah bin Zayed

posted on 19/03/2014: 1285 views

Podgorica: UAE investment in Montenegro are on steady increase given its promising economic opportunities, visiting UAE Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan has said.

He affirmed that more UAE companies were coming to Montenegro, an indication of the attractive investment environment.

In his opening address to the UAE-Montenegro Business Forum last night, Sheikh Abdullah noted that the UAE selection of Montenegro to host its largest investment development (over Euro 120 million Atlas Capital Centre) in the Balkan underscores the importance the UAE attaches to its evolving ties with southeast European country.

The forum was attended by Igor Luksic, Montenegro Deputy Prime Minister and Minister of Foreign Affairs and European Integration, trade delegation of the UAE Federation of Chambers of Commerce and Industry, and representatives of public and private sectors and businessmen in both countries, The UAE foreign minister added that many other sectors would contribute to increasing the two-way trade value in areas of agriculture, water, renewable energy, tourism and infrastructure.

'The forum was held at a fitting time to attract foreign investment as Montenegro is bracing to join the EU and prepare to expand into new markets,' Sheikh Abdullah said in his welcome address.

'The wonderful harmony and constant support between our countries at bilateral and international levels highlight the depth and vibrancy our diplomatic ties have reached in a short span of time. And out of our belief in the significance of these ties, the UAE opened its embassy in Podgorica in 2010 to become the first Arab country to take that step,' Sheikh Abdullah added.

'We are constantly working hand-in-hand towards expanding prospects of joint cooperation under the support, strong will and sincere efforts both countries were making in many fields.' Sheikh Abdullah noted that fruitful visits between officials in the two countries, the recent of them were the one made by His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Montenegro in December 2013 would contribute directly to enhancing cooperation frameworks both the leaderships of the friendly countries aspire for.

Sheikh Abdullah also noted the marked progress bilateral ties had achieved in the last few years where solid economic foundations were laid down through establishment of the joint economic committee in addition to the conclusion of a series of agreements including those in economic cooperation, protection and promotion of investment, air traffic service and avoidance of double taxation.

Concluding his address, Sheikh Abdullah emphasised that the UAE would intensify its cooperation with Montenegro in all fields to serve mutual interests of the two friendly peoples.

For his part, Igor Luksic, Montenegro Deputy Prime Minister and Minister of Foreign Affairs and European Integration, stressed the need for taking bilateral ties to new heights, and commended the UAE pioneering model in business which transformed the country into a modern state and a prominent world hub for trade and financial services.

He also marvelled at the UAE economic model and the remarkable achievements it has made as an international destination for business, trade and tourism and as a good organiser and host of international events.

He added that Montenegro is in a need of the UAE expertise in these sectors.

Mr. Luksic said his country, being an important trade gateway to European market, offers promising investment opportunities, mainly in tourism in many cities, which were experiencing robust growth.

Juma Al Kit, Assistant Undersecretary of UAE Ministry of Economy for Foreign Trade, gave a presentation on the UAE economy, its competitive edge and investment opportunities on offer.

Mohammed Ahmed Al Nuaimi, Assistant Secretary General of the Federation of Chambers of Commerce and Industry, who is leading a 16-member trade mission, also addressed the forum.

During the forum, members of the UAE trade mission held several business meetings with their Montenegro counterparts. – Emirates News Agency, WAM


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