U.A.E. Minister of Economy, Australian Foreign Minister discuss cooperation relations

PERTH, AUSTRALIA: Sultan bin Saeed Al Mansouri, Minister of Economy, and Julie Bishop, Australian Minister for Foreign Affairs, have discussed relations of cooperation between the two friendly countries, especially in the fields of economic and trade relations and ways to develop them. During their meeting, the two Ministers discussed the potential of increasing trade exchange and promoting the flow of investment between them by exploring the economic sectors, and addressing obstacles and challenges that affect this trend. The meeting was held on the side-lines of the participation of the U.A.E. delegation in the 13th meeting of the Council of Ministers of the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), which opened yesterday in the Australian city of Perth and will continue until October 9th. The meeting focused on the possibility of signing agreements on preventing double taxation and the protection of investment between the two countries as part of efforts to support and strengthen bilateral relations. Al Mansouri and the Australian Foreign Minister underscored the importance of these conventions for the two countries, their role in opening new areas of joint cooperation, and encouraging the creation of investment partnerships between them while motivating investors, companies and businessmen and the business community in general to invest in the two countries and in all major sectors for both. During the meeting, Al Mansouri called on Ms. Bishop to support the U.A.E.'s candidature for the position of Secretary-General of the International Civil Aviation Organisation. The meeting also covered economic and trade relations between the GCC and Australia, in addition to the Free Trade Agreement between the two sides and its impact on the development of bilateral relations between the GCC and Australia, especially economic, trade and investment. Al Mansouri emphasised the U.A.E.'s keenness in particular, and the GCC in general, on the completion of the Free Trade Agreement of GCC- Australia in terms of pushing cooperative relations forward and strengthening them, especially at economic and commercial levels. Al Mansouri noted that the U.A.E. and Australia have enjoyed strong economic and commercial relations, as the U.A.E. is considered as the largest trading partner for Australia in the region. He also noted the growth in the volume of trade exchange between the two countries, which exceeded US$ 3 trillion in 2013 without oil, which reflects the development of the economic relations between the two countries from year to year. Al Mansouri said that the relations of the two countries are moving towards an integrated strategic partnership, stressing that the future will witness more cooperation in the fields of economy, trade, tourism, education, health and culture. Al Mansouri also stressed the importance of the role played by airlines in terms of strengthening economic relations and encouraging tourism and deepening bonds between the business communities of both countries, increasing the development of trade exchange between them, referring to the number of flights between the two countries, which now exceeds 130 per week. Al Mansouri underscored the importance of the 13th meeting of the Council of Ministers of the Indian Ocean Rim Association for Regional Cooperation, stressing that it reflects the keenness of Australia to deepen cooperation between the IOR-ARC countries in the interests of their countries and their peoples. For her part, the Australian Foreign Minister stressed her country's keenness to develop relations with the U.A.E in the future and to continue to build bridges of cooperation, especially in the fields of tourism, economy, science and education, and encourage investment and cultural exchanges, to deepen the strategic partnership between the two countries. She also stressed the importance of developing joint economic and trade relations and encouraging investments and developed industrial projects, especially in areas of renewable energy, which are of great interest to both countries. She noted the keen interest of senior government and economy officials in Australia to continue meeting at various levels with U.A.E. officials and businessmen to discuss ways to establish investment and commercial relations between them. The meeting was attended by a number of senior officials from both sides. – Emirates News Agency, WAM – http://www.wam.ae/en/news/emirates/1395270600485.html