Tuesday, December 10, 2019
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UAE, Spain discuss cooperation

Abu Dhabi: The relations between the UAE and the Kingdom of Spain have been witnessing remarkable growth given the huge potential for upgrading the existing cooperation, especially in the areas of economy, trade and investment, Sultan Bin Saeed Al Mansouri, Minister of Economy, has said.

While receiving Jaime Garcia, Spanish Secretary of State for Trade, here in his office, Al Mansouri added that “The UAE is a bridge linking Europe, the Middle East, Africa and South Asia, while Spain links between Europe and Latin America”, adding that the “cooperation between the two countries is a prelude to greater economic cooperation between the two regions interested in boosting the flow of investments and bolstering of the trade ties.”

During the meeting, Al Mansouri and Garcia discussed ways to increase the trade exchange between the two countries and cooperation in the main sectors such as small and medium enterprises, industry and renewable energy. They also discussed the role of the business community in the two countries to open more horizons for bilateral cooperation.

Al Mansouri noted that the economic ties between UAE and Spain grew over the last years in a way that reflected on the trade exchange between the two countries, which surged by 75 per cent over three years from Dh4.7 billion in 2009 to Dh8 billion in 2012. These figures are expected to rise through establishing new partnerships and exploiting untapped investment opportunities.