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UAE, Luxembourg discuss economic cooperation

Abu Dhabi: Sultan Bin Saeed Al Mansouri, Minister of Economy, on Saturday said that UAE and Luxembourg had opportunities to upgrade cooperation in the areas of economy, trade and investment.

Al Mansouri made these observation after receiving Nicole Bintner, Ambassador of the Grand Duchy of Luxembourg to the UAE.

He said non-oil trade between the two countries was growing, but could be improved, noting that the value of trade was $83 million in 2012.

The minister said that first step to boost trade ties was to explore potential investment opportunities and reinforce the role of the business communities in both countries to open new horizons of bilateral cooperation.

Al Mansouri called for focusing on mutual investment in small and medium enterprises.

Bintner said there were business opportunities in Luxembourg, adding that the two economies were special in terms of economic diversification and strategic location, important attributes for reexport and storing of valuable goods.

She congratulated the UAE for winning the bid to host Expo 2020, expressing her admiration about the remarkable progress made by the UAE.