Tuesday , June 22 2021

Al Mansouri discusses economic and development cooperation with France



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His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and HE Amelia La Korfi, chairman of the Franco-UAE Parliamentary Friendship Group, discussed aspects of cooperation between the two countries and joint efforts to develop them in various development sectors.
HE Abdullah Al Saleh, Undersecretary for Foreign Trade, Juma Al Kait, Undersecretary of Foreign Trade, dr inż. Azza Suleiman, member of the Federal National Council, Director of the Department of Investment of the Ministry, HE Raja Rabia, Consul General of France in Dubai and many officials from both sides.
During the meeting, the latest developments and economic developments in the international and European arena were reviewed and, at the same time, strong bilateral relations between the UAE and France at all levels in political, economic and cultural terms were discussed, in particular with two of the most important French cultural monuments in the United Arab Emirates – Sorbonne and Louvre, Major sectors.
Both sides discussed the possibility of developing advanced models of cooperation in many important sectors related to innovation, digital transformation and advanced technology techniques, supporting small and medium-sized enterprises as well as modern and emerging companies.
HE Al Mansouri expressed interest in French experience in creating integrated incubators for emerging innovation-based companies and explored the possibility of linking them with innovation incubators in the country in order to transfer experience and knowledge in this field.
Both sides agreed to analyze the organization of a business forum or a common platform for SMEs and SMEs to inform the UAE and French entrepreneurs about the opportunities and investment incentives offered in the markets of both countries and the possibility of establishing trade and investment partnerships in the sectors of interest.
In addition, the French side wanted to know in more detail the advanced experience of the UAE in the area of ​​strengthening the economic position of women and the development of a balanced model that ensures equal rights for women and men in various areas of work.
Sultan bin Saeed Al Mansouri underlined the importance of bilateral relations between the UAE and France, which translated into many advanced trade and economic indicators. The total non-fuel turnover between the two countries in 2017 amounted to approximately $ 7.3 billion, while French investments account for 4, 5% Foreign to UAE.
He pointed out that the presence of the two most important French cultural monuments in the United Arab Emirates, namely the Sorbonne and the Louvre, confirms the advanced relations between the two countries and the common desire to develop cooperation horizons and diversify them into all development areas and achieve common interests.
He pointed out that the UAE has embarked on a pioneering model of diversifying its economic base and aims to increase the contribution of innovation to domestic products and develop its capabilities in the knowledge-based economy. He pointed out that the UAE has designated several sectors that are leading the development process at the next stage. In achieving this vision.
He pointed out that due to the extensive experience of France in this area, there are many areas of cooperation between the two countries, pointing to the importance of work on strengthening channels of communication between the business environment of the UAE and its French counterpart.
"The United Arab Emirates are France's key partner in the region," said Amelia La Cervi. "There are many common features that connect these two countries, especially when it comes to a vision of development aimed at increasing the entrepreneurial potential and launching opportunities for developing companies that drive development.
She explained that France has extensive experience in the development of various business incubators serving key development sectors, such as renewable energy solutions, water treatment, advanced agricultural and other techniques, expressing interest in sharing these experiences with the UAE and developing a distinctive cooperation model that serves the interests of both parties.
She also praised the UAE's experience in empowering women in the economy and ensuring a balanced environment and equal opportunities for women in various areas of work. She stressed the importance of intensifying the exchange of visits between institutions and bodies involved in empowering women in both countries in order to gain knowledge about the UAE's experiences and to benefit from them.
Director of the Department of Investment of the Ministry, Hind Al-Iwaha presented a presentation on the most important economic indicators of the UAE, growth rates and sectors contributing to GDP, lists of the largest trading partners in the country, trends in FDI in the country and the most attractive investment sectors, Business environment and climate investment.
The most important provisions regarding the ease of doing business in the country were also analyzed, in particular the recently issued foreign regulations on direct investment and additional incentives and benefits provided by foreign investment.

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