The UAE has discussed ways to boost bilateral trade and investments in various fields such as new economy, technology, entrepreneurship, tourism, circular economy, family businesses, renewable energy, and agriculture with France.
HE Abdullah bin Touq Al Marri, Minister of Economy, met with Mr. Olivier Becht, Minister-in-Charge of Foreign Trade, Attractiveness, and French Nationals Abroad, Mr. Nicolas Niemtchinow, French Ambassador to the UAE, and several other French government officials who are currently on an official visit to the UAE.
The meeting also explored the means to enhance the existing economic partnership agreements between the UAE and France.
Abdulla bin Touq Al Marri UAE Minister of Economy
“The UAE-French relations are distinguished by strong and sustainable strategic partnerships that span all fields, thanks to the support and forward-looking vision of both leaderships. In this regard, he highlighted the recent exchange of a number of high-level visits between the two countries, most notably that of President HH Sheikh Mohamed bin Zayed Al Nahyan to France last May. This is a clear indication of the two countries’ shared aspirations to solidify bilateral relations on various fronts. The UAE-France Business Council, which was established recently, now facilitates the strengthening of economic and trade cooperation between the two countries. The UAE is keen to enhance our investments in French markets to support the sustainable development of both economies.”
Meanwhile, the French minister said that, “France and the UAE enjoy strong and privileged economic and trade relations, and the UAE is one of our key trade partners in the region.”
“The recently established UAE-France Business Council contributes to the strengthening of economic cooperation with the participation of a large number of French and UAE companies. Also, investment exchanges between the UAE and France are witnessing significant growth across various sectors of shared interest,” Mr. Becht added.
Furthermore, the two ministers addressed the strengthening of bilateral ties in tourism and aviation by enhancing air connectivity between the two countries.
H.E. Bin Touq briefed the French minister on the economic policy adopted by the UAE to build a competitive investment environment and drive new prospects for growth.
“The policies include providing supporting incentives and enablers that encourage the private sector to invest and expand in the UAE market, amendments to the commercial companies law to allow 100 percent foreign ownership, and the modernization of the country’s residency regulations to attract entrepreneurs, skilled people, and talent and drive the growth of businesses and trade and economic activities,” as per the statement.
