The two-day long fifth sessions of the UAE-New Zealand Joint Economic Committee concluded today in the UAE capital, Abu Dhabi, with emphasis on boosting economic and trade ties through harnessing the potential in both countries.
The UAE side was headed by Eng. Sultan bin Saeed Al Mansouri, Minister of Economy, while the New Zealand side was headed by Trade Minister, Tim Groser. A number of representatives from federal and local institutions, as well as representatives from the private sector attended the sessions. A number of officials from New Zealand and businesspersons also attended the meetings.
The final session opened with a minute’s silence for the Emirati martyrs, who fell in Yemen while defending the legitimate government there.
The New Zealand minister conveyed the condolences of his government and the people of New Zealand to the UAE leadership, government and people. Al Mansouri thanked the people of New Zealand for their noble feelings.
The two sides stressed strengthening of ties in vital sectors such as agriculture, food security, food industries, investment, renewable energy and others. They also agreed to enhance co-operation in small and medium enterprises, innovation, civil aviation, and environment. The two sides explored the possibility of signing a memorandum of understanding in the fields of insurance, stressing importance of co-operation in the area of finance.
Stressing the importance of committee meetings, Al Mansouri said the trade exchange between the two countries stood at US$1.48 billion in 2014, and hoped that this percentage could increase by 8 to 9 percent annually within the next three years.
Groser said there was potential that could be harnessed by both countries by strengthening relations, and called for enhancing co-operation in vital sectors such as agriculture. His country could be a strategic partner for the UAE in the area of food security, he stated.
He added that companies from New Zealand were prepared to take part in the development of infrastructure and provision of equipment and services to Expo 2020 Dubai. –End-
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