The United Arab Emirates wants to open new doors of co-operation with South American countries to highlight investment opportunities, according to its Economic Minister.
Sultan Bin Saeed Al Mansoori, who has just held a series of meetings with Jean-Paul Tarud-Kuborn, Chile’s Ambassador to the UAE, said exchanges, visits by economic delegations and exploring new areas of co-operation can be beneficial for everyone.
‘South American countries, especially Brazil, Argentina and Chile, have promising investment opportunities and are currently witnessing remarkable economic growth. The UAE is keen to build strategic relations with these countries which will be beneficial for our national economy and for further strengthening the UAE’s position on the world map,’ he said.
Al Mansoori said that many Chilean companies are interested in investing in the UAE and in opening representative offices there as they consider the UAE as a gateway to the larger Middle East and Central Asian markets.
‘Many UAE companies have also showed strong interest to invest in various economic sectors in Chile,’ he added.
Tarud-Kuborn said his country plans to negotiate a free trade agreement with the GCC block and a series of economic and technical cooperation agreements with the UAE to enhance bilateral trade and exchange of investments.
‘This will be beneficial to our countries as it will generate high rates of trade exchange with the UAE, also standing to benefit from the 21 FTA agreements that Chile has signed with 57 countries,’ he added.
He also showcased the investment opportunities in Chile in food industries, agriculture, construction and copper mining, as Chile is the largest producer of copper in the world.
‘Chile and the UAE have bilateral trade relations since 1970, which was further enhanced in 2006 with the opening of the Trade Commission of Chile in the UAE and later the Embassy in 2009,’ he explained.
‘This has contributed to increasing Chile’s export to the UAE by US$100 million in one year, from US$61 million to US$162 million in 2007 and has continued to grow thereon despite the global economic situation of the past two years. We are looking forward to building stronger relations with the UAE and to enhance investments at various sectors,’ he added.
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