ID :
96333
Tue, 12/22/2009 - 15:23
Auther :
Shortlink :
https://www.oananews.org//node/96333
The shortlink copeid
UAE economy set to grow 3.2% in 2010: Mansouri
Dubai, Dec 22, 2009 (WAM) - The UAE economy is set to post a real growth of 1.3% in 2009, rising to 3.2% in 2010, according to UAE Minister of Economy Sultan Al Mansouri.
Delivering a keynote address at the opening session of the UAE-Azerbaijan joint committee yesterday, Al Mansouri, said the proactive measures taken by the UAE has substantially mitigated the impact of the international financial crisis.
The UAE s development breakthrough has contributed to create an attractive investment environment to mega investment developments in the world, he told the meeting which was attended from the Azeri side by Minister of Economic Development Shahin Mustafayev.
The government of the UAE welcomes cooperation with Azerbaijan and joint efforts to deepen and strengthen avenues of that cooperation for serving mutual interests, he added.
He said that developments in the global economic since the first meeting of the committee took place in Baku last year require both countries to explore available mechanisms of joint cooperation for boosting joint action to turn policies into a tangible reality in all sectors and levels and address economic challenges and changes generated by the international financial crisis.
He urged members of the committee to crystallise aspirations of the two countries to arrive at a true, fruitful cooperation and practical frameworks for future cooperation by the way of establishing joint ventures, concluding memoranda of understanding on trade investment and exchange of expertise on agriculture, industry, and ICT.
Over the past decades, the UAE has made a qualitative leap in the socio-economic development driven by its diversification and economic openness policy and free tax income system. The UAE boasts of an efficient, flexible banking system, enjoys political and security stability and keens to update its laws and regulations to cope with modern technology, he explained.
He disclosed that two-trade exchange rose to US$245 million in 2008 from 200 million in 2004, a growth of 5% a year. He said recently launched flight between Dubai and Baku by Flydubai would expand cooperation between the two countries in areas of economy, trade and investment. The minister expressed the UAE's support to Azerbaijan in its drive to join the World Trade Organisation.
Delivering a keynote address at the opening session of the UAE-Azerbaijan joint committee yesterday, Al Mansouri, said the proactive measures taken by the UAE has substantially mitigated the impact of the international financial crisis.
The UAE s development breakthrough has contributed to create an attractive investment environment to mega investment developments in the world, he told the meeting which was attended from the Azeri side by Minister of Economic Development Shahin Mustafayev.
The government of the UAE welcomes cooperation with Azerbaijan and joint efforts to deepen and strengthen avenues of that cooperation for serving mutual interests, he added.
He said that developments in the global economic since the first meeting of the committee took place in Baku last year require both countries to explore available mechanisms of joint cooperation for boosting joint action to turn policies into a tangible reality in all sectors and levels and address economic challenges and changes generated by the international financial crisis.
He urged members of the committee to crystallise aspirations of the two countries to arrive at a true, fruitful cooperation and practical frameworks for future cooperation by the way of establishing joint ventures, concluding memoranda of understanding on trade investment and exchange of expertise on agriculture, industry, and ICT.
Over the past decades, the UAE has made a qualitative leap in the socio-economic development driven by its diversification and economic openness policy and free tax income system. The UAE boasts of an efficient, flexible banking system, enjoys political and security stability and keens to update its laws and regulations to cope with modern technology, he explained.
He disclosed that two-trade exchange rose to US$245 million in 2008 from 200 million in 2004, a growth of 5% a year. He said recently launched flight between Dubai and Baku by Flydubai would expand cooperation between the two countries in areas of economy, trade and investment. The minister expressed the UAE's support to Azerbaijan in its drive to join the World Trade Organisation.
