http://www.moft.gov.aeMOFT RSS news FeedCopyright 2010 - 2011 @ Ministry Of Foreign Trade. All rights reserved.5/16/2012 12:00:00 AM Ways to promote trade and investment relations between the UAE and Australia and to encourage joint development projects were discussed on Wednesday by the Minister of Foreign Trade, Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, and the Premier of the Australian State of New South Wales, Barry O'Farrell. During the meeting, which was held at the Ministry of Foreign Trade’s headquarters in Abu Dhabi, Sheikha Lubna pointed out that non-oil trade between the UAE and Australia has been witnessing steady growth over the past few years, especially during the past two years, registering a considerable 21 percent growth during the first ten months of 2011 to reach USD 2.2 billion. Sheikha Lubna called on Australian investors to tap into the opportunities provided by the UAE’s economy and to take advantage of its Small and Medium Enterprises (SME) friendly environment. For his part, Premier O'Farrell underscored the significance of his country’s trade and investment relations with the UAE as a central regional trade hub. He also noted that New South Wales provides investment opportunities for UAE businesses in sectors such as agriculture, food industry and tourism. The meeting was also attended by His Excellency Juma Al Kait, Assistant Undersecretary for Foreign Trade, Pablo Kang, Australian Ambassador to the UAE and other high ranking officials. http://moft.gov.ae/en/det.aspx?detid=455&resourceid=305/14/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has stated that the UAE will work on strengthening its economic, commercial and investment relations with the countries of Latin America in the coming period and that she hopes to lead a UAE trade delegation there that would include a number of UAE companies and investors. Sheikha Lubna’s remarks came during her meeting on Monday at the Ministry’s Abu Dhabi headquarters with His Excellency Dr. Antonio Bonfatti, Governor of the Argentinean Santa Fe Province, His Excellency Ruben Eduardo Caro, the Ambassador of Argentina in the UAE, and the accompanying high ranking economic delegation. Sheikha Lubna highlighted to the visiting delegation the UAE’s effective handling of the global economic crisis and the various measures it undertook to regain economic growth in record time such as increasing public expenditure on various sectors across the UAE, especially infrastructure. She told the Argentinean delegation that there are many areas where the UAE and Argentina can boost their cooperation, pointing out that both countries have numerous opportunities to expand their commercial cooperation, especially in technology, health, trade, culture, tourism, energy and other sectors. Sheikha Lubna affirmed to the visiting delegation that the UAE perceives Argentina as a qualified market for UAE investment and an important commercial center in the South American continent, pointing out that opportunities are abound for UAE investors in Argentina in sectors such as ports, construction, public works, manufacturing and tourism. Sheikha Lubna added that the potential for growth for businesses operating in the UAE is very strong, pointing out that principal decision makers and investors from around the world, including Argentina are fully aware of the immense economic capabilities the country enjoys and its role as an excellent service hub that enjoys a strong infrastructure, tax free environment, low operational costs, skilled labor and 100 percent investment ownership in free zones, which are all factors that play an integral part in attracting investments and macroeconomic development. Sheikha Lubna underlined the importance of continuing to conduct similar economic and trade visits and exchange information regarding investment and commercial opportunities in both countries. She also emphasized the importance of seeing more companies from Argentina take part in the fairs that are organized in the UAE, adding that there are many opportunities for marketing and promoting Argentinean products in the UAE market and in the markets of the countries of the region. For his part, the Governor Bonfatti commended the UAE’s economic development and pointed out that a lot could be learned from the country’s experience in this regard. He also highlighted the various investment opportunities that are available in his Country, and in his Province in particular, for the UAE business community to explore, especially in the agriculture, foodstuff, construction, ports, real-estate, public works, manufacturing, solar power and tourism sectors. Bonfatti added that there are many commonalities between the two countries’ economies such as their unfaltering commitment to free trade, security, liberalization, and their ability to attract investments. The official added that strengthening economic and commercial cooperation between the UAE and Argentina will increase and diversify UAE exports to South America and increase the competitiveness of the UAE’s business community. From the UAE side, the meeting was also attended by H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Foreign Trade, H.E. Juma Al Kait, the Assistant Undersecretary for Foreign Trade Affairs at the Ministry, and a number of other high ranking Ministry officials. The Argentinean delegation also included H.E. Angel Sciara, Minister of Economy of the Province, H.E. Carlos Fascendini, Minister of Production of the Province, and five advisors, Senators and Parliamentarians. http://moft.gov.ae/en/det.aspx?detid=454&resourceid=305/7/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade and Lithuanian Minister of Foreign Affairs H.E. Audronius Azubalis discussed on Monday UAE-Lithuanian bilateral relations and means by which to tighten trade cooperation between the two countries. The meeting, which was held at the Ministry’s headquarters in Abu Dhabi, was also attended by H.E. Dainius Junevicius, Ambassador of the Republic of Lithuania to the UAE, H.E. Dalius Cekuolis, Ambassador of the Republic of Lithuania to the United Nations, and the Minister’s accompanying economic delegation. During the meeting, Sheikha Lubna underlined the UAE’s commitment to strengthen its bilateral cooperation with the Central European country, especially in trade and investment, and to explore the numerous potential avenues of cooperation in this regard. She also emphasized the importance of creating channels through which expertise can be exchanged between the two countries in the area of business sector development. Sheikha Lubna pointed out that the UAE and Lithuanian economies share many common aspects especially with regards to the ease of doing business as both countries were ranked among the 35 top countries in this regard according to the World Trade Organization’s annual report. This she said, calls on both countries to increase their levels of cooperation and develop joint ventures. The Minister highlighted to the visiting delegation the UAE’s competitiveness and the strengths of its economy, pointing out that the country enjoys a strategic geographic location and possesses highly advanced logistical and technological capabilities and a sophisticated infrastructure. She also pointed out to the UAE’s business-friendly environment and the various investment incentives the country provides. Sheikha Lubna invited the Lithuanian side to increase their country’s participation in the world renowned international fairs and exhibitions that are held in the UAE on an annual basis and to benefit from the opportunities these events provide in order to strengthen their country’s trade with the UAE and other world markets. Sheikha Lubna pointed out that the UAE aims to achieve sustainable economic growth through increasing its reliance on high value added economic sectors, which calls for more cooperation with the competitive and technological European market. Her Excellency said that current UAE-Lithuanian trade levels are still far from reaching their full potential, calling on both parties to see this as an opportunity to strengthen them in the future, especially that the European market is the UAE’s second largest - with a 23 percent share of the country’s foreign trade - and that 25 percent of all UAE imports originate in the European block. For his part, H.E. Azubalis expressed his country’s keenness on strengthening its cooperation with the UAE, which he said is one of the most important trade centers in the Middle East region. He said that many Lithuanian private and public companies and economic institutions are currently exploring means by which to strengthen their commercial presence and market their industrial and technological goods in the region through the UAE portal, which he described as being highly advanced. The Lithuanian minister highlighted the main opportunities that are available in his country’s economy such as clean industry and technology, solar power and education, pointing out that the Lithuania is regarded as a connector between Eastern and Western Europe, making it an important commercial transit conduit. He also highlighted the country’s proximity to the Russian market and the presence of a sophisticated railway network that passes through its territory that has eased trade between China and Europe and increased Lithuania’s significance as a transit point. Sheikha Lubna was also briefed by the members of the Lithuanian delegation on the most important investment opportunities in their country in areas such as industry, technology, logistical services, air freight, railways, garments and textiles and academia. The meeting was also attended by H.E. Abdullah Al Saleh, the Undersecretary of the Ministry of Foreign Trade, H.E. Juma Al Kait, the Assistant Undersecretary for Foreign Trade Affairs of the Ministry and a number of other senior Ministry officials. http://moft.gov.ae/en/det.aspx?detid=453&resourceid=305/6/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has held a series of talks and discussions with a number of ministers and high ranking officials from seven African countries on the sidelines of the Annual Investment Meeting (AIM 2012), which was held last Tuesday in Dubai at the Dubai World Trade Center. Talks centered on means by which to strengthen bilateral relations and utilize all available opportunities to strengthen the UAE-African partnership. During the meetings, which were held separately, Sheikha Lubna thanked the delegations taking part in the AIM 2012, which she described as an ideal opportunity to achieve a multitude of benefits, especially in the area of developing Economic and Investment ties between the UAE and Africa. During her one-on-one meetings with H.E. Dr. Hage Geingob, the Minister of Industry and Trade of Namibian, H.E. El Hajji Muhammad Mumuni, the Minister of Foreign Affairs & Regional Integration of Ghana, H.E. Prof. Welshman Ncube, the Minister of Trade of Zimbabwe, H.E. Fidele Mengue, the Minister of Craft & Commerce of Gabon, H.E. Robert K. K. Sichinga, the Minister of Commerce, Trade & Industry of Zambia, H.E. Fofana Bakalawa, the Minister of Industry of Zambia and H.E. Saley Saidoo, the Minister of Commerce and Promotion of Private Sector of Niger, Sheikha Lubna discussed various ideas and suggestions to strengthen bilateral commercial exchange. Sheikha Lubna affirmed that the UAE’s relations with the countries of the African continent have considerably strengthened over the past few years, moving away from the exploratory phase to the partnership one, pointing out that Africa’s prominence has increased in the UAE’s foreign trade policies, which have been instrumental in increasing non-oil trade between the UAE and the countries of Africa as a whole over the past decade from USD 1.7 billion in 2001 to USD 14.5 billion in 2011 and by a sharp increase of 25 percent from 2010 to 2011. Sheikha Lubna pointed out that there has been a noticeable increase in the level of interest UAE companies have in the African market, adding that many of these companies have already set up a number of operations in strategic sectors that include; ports, tourism, real estate, construction, telecommunications, financing and energy. Sheikha Lubna pointed out that the increase in the number of direct flights between the UAE and African countries has also played a significant role in strengthening ties between the two sides, especially with regards to commerce. Sheikha Lubna called on African companies to take advantage of the UAE’s advanced commercial standing and the various incentives and facilitations the country’s ports and business climate offer in order to further stimulate commercial exchange and investment cooperation in areas of mutual benefit, adding that the UAE is also regarded as a gateway for African countries into the region. For their part, the African ministers and officials underlined their counties’ keenness to develop their ties with the UAE and to benefit from its unique and advanced stride in development. The Ministers pointed out to the importance of working on strengthening their economic partnership with the UAE, calling on UAE companies to increase their focus on their countries and uncover the various investment opportunities available therein. The ministers stressed that their countries possess many promising investment opportunities in infrastructure development, food production, manufacturing and transportation. The meetings were also attended by H.E. Abdullah Ahmed Al Saleh, the Undersecretary of the Ministry of Foreign Trade and H.E. Juma Al Kait, the Assistant Undersecretary for Foreign Trade Affairs at the Ministry. http://moft.gov.ae/en/det.aspx?detid=452&resourceid=305/6/2012 12:00:00 AMSheikha Lubna Al Qasimi Underlines the Importance of Developing UAE Exports to Arab markets and Increasing Intra-regional Trade Her Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has stated that the Ministry of Foreign Trade has set among its goals, the strengthening of UAE exports in Arab markets and increasing their share of the Country’s overall export structure. Her remarks came during meetings she held with a number of Arab ministers and officials at the Dubai World Trade Center on the sidelines of the Annual Investment Meeting (AIM), which was inaugurated in Dubai on Tuesday. Sheikha Lubna met with H.E. Ahmad Salem Al Koshaly, the Libyan Minister of Economy and H.E. Dr. Mustafa Othman, the Advisor of the President of the Republic of Sudan. During the meetings that were held separately, Sheikha Lubna welcomed the delegations participating in AIM, which she described as having successfully acquired the status of an international platform for investment promotion and the creation of new global partnerships, especially that it has attracted the participation of delegations from 45 countries all under one roof. Meeting with Libyan Minister of Economy: H.E. Ahmad Salim Al Koshaly, the Minister of Economy of Libya, who is also participating in the AIM, and his country’s accompanying delegation, met with Sheikha Lubna and briefed her on the latest economic developments in Libya and the institution building process currently underway in the North African country. The Libyan Minister expressed his country’s wish to benefit from the UAE’s experience in achieving economic growth and in utilizing the UAE’s knowhow in dealing with international economic organizations such as the World Trade Organization (WTO), which Libya is hoping to join. Sheikha Lubna assured the Libyan Minister that the UAE will provide various forms of assistance in the areas of economic development, competition and international cooperation. She added that the UAE will hold a number of bilateral meetings that will be aimed at transferring knowhow and increasing cooperation between the two countries and that the Ministry of Foreign Trade will help Libya increase the aptitude of its economic institutions, especially in the field of sharing the UAE’s expertise in dealing with international economic institutions. Both parties also agreed to increase cooperation in the area of providing assistance to Small and Medium Enterprises (SMEs), engaging the private sector in both countries and inviting UAE businessmen to contribute towards the reconstruction of Libya. Sheikha Lubna stressed on the importance of increasing bilateral delegation visits between the two countries and Libyan participation in fairs and expos held in the UAE, which she described as being pivotal in bringing investors and businessmen together and creating strong economic partnerships. Meeting with the Advisor of the President of the Republic of Sudan Her Excellency Sheikha Lubna bint Khalid Al Qasimi also met with H.E. Dr. Mustafa Othman who expressed his appreciation to Sheikha Lubna for hosting the AIM and providing Sudan with an opportunity to showcase its investment opportunities and benefit from the discussions that have taken place. Both officials discussed means by which to bolster cooperation and improve economic ties between the two countries, with Sheikha Lubna pointing out that the UAE, with its advanced infrastructure, global ports and cutting-edge technical prowess is Sudan’s gateway to many countries both in the region and around the world. For his part, the Sudanese official briefed Sheikha Lubna on the latest developments in his country’s investment climate. He touched on the services and facilitations provided by the Sudanese Government to foreign investors especially in the area of arbitration and trade dispute settlement, pointing out that all public bodies and institutions in Sudan support and safeguard foreign direct investments (FDIs) and investors. The official showcased his country’s strong agricultural sector and commended the important role played by UAE companies in the development of the Sudanese economy. He also stressed on the importance of increasing cooperation between the two countries in the area of knowledge transfer, particularly with regards to learning from the experience the UAE has attained in the development of its infrastructure, technological capabilities, trade and economy. The official also called on UAE companies to benefit from the investment opportunities that are available in his country in the areas of agriculture, foodstuff, edible animal products and other industries, stressing on the importance of activating previously reached bilateral agreements in order to further enhance trade and economic cooperation between the two countries. http://moft.gov.ae/en/det.aspx?detid=449&resourceid=305/6/2012 12:00:00 AMThe Swiss Ambassador's Awards 2012 were presented to a number of dignitaries at a ceremony held on Thursday in Abu Dhabi. Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, attended the ceremony that was held at the Fairmont Bab Al Bahr in the presence of a number of ministers, senior state officials, members of diplomatic missions and business communities and cultural personalities. The Ambassador of Switzerland to the UAE, H.E. Wolfgang Amadeus Bruelhart handed over an Award to Obaid Humaid Al Tayer, the UAE Minister of State for Financial Affairs. An Award was also presented to Mohammed Al Suwaidi, Managing Director of Al Suwaidi '&' Company, Dubai and Vice President of the Swiss Business Council’s Dubai Chapter. The Ambassador also handed over Awards to Habiba Al Marashi, Founder '&' President of Environmental Emirates Group -Dubai, Dr. Bertrand Piccard, President and Initiator of the Solar Impulse Project - Switzerland, M.A.Yousuf Ali, Chairman of the EMKE Group - Abu Dhabi, and Dr. Franco Vigliotti, the Dean of EPFL Middle East, Ras Al Khaimah. "I introduced the Swiss Ambassador's Award in 2008 to recognize notable efforts of personalities who with their special and long term commitments and efforts promote the relations between Switzerland and the UAE", Bruelhart said at the ceremony. The Award consists of a sculpture, created by UAE artist Azza Al Qubaisi, combining elements of Switzerland and the United Arab Emirates. The celebrations also marked the farewell of Ambassador Wolfgang Amadeus Bruelhart and his wife Mrs. Joy Vendryes who will be returning to Switzerland this year. http://moft.gov.ae/en/det.aspx?detid=447&resourceid=305/5/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, in cooperation with the China – Arab Exchange Association, China International Economic Cooperation Society and China – Arab Federation of Industry and Commerce,opened the “Arab – China Industry & Commerce Leader’s Summit”, which was launched on Thursday on the sidelines of the Annual Investment Meeting, which is regarded as one of the most important investment forums hosted annually by the Ministry of Foreign Trade. The summit was also attended by H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Foreign Trade, H.E. Xia Zhanyi, Vice Mayor of Beijing, H.E. Zhan Jingbao, the Consul General of the People’s Republic of China in Dubai and around 100 Chinese investors and company representatives from a wide spectrum of industries that include; real-estate, agriculture, textiles, information technology, finance and oil and petrochemicals. During her speech, H.E. Sheikha Lubna Al Qasimi emphasized the importance of such events in energizing and regulating commercial ties between the GCC and China, adding that this event also represents an excellent opportunity to celebrate the strong relationship the UAE enjoys with the People’s Republic of China, and to continue to build on it. Sheikha Lubna stated that China is one of the Arabian Gulf’s most important trade partners and the leading consumer of the region’s energy resources. She added that China is also the principal exporter to the countries of the GCC, pointing out that the volume of annual Chinese exports to the gulf region had risen more than tenfold during the last decade, reaching around USD 60 billion. The Minister added that the complementary nature of commercial activities between the two sides provides a strong foundation for their continued progression in the future. Sheikha Lubna further pointed out that the volume of bilateral trade between the UAE and China had witnessed a noticeable increase of around 35 percent per annum over the past decade, reaching USD 35 billion last year. The Minister added that the UAE enjoys a strong consumer base for products and commodities imported from China and that with both countries continuing to work on achieving sustainable economic growth, commercial bilateral ties between the two countries are poised to witness more progress and expansion. Sheikha Lubna highlighted the UAE’s strategic advantages and investment incentives, pointing out that the Country provides a gateway to a market of around 5 billion consumers in the Middle East, North Africa and the Indian Subcontinent. She also invited the participants in the event to benefit from available opportunities in the UAE’s industrial sector, which had witnessed large investments worth USD 31 billion last year alone. Sheikha Lubna called on businessmen from China and around the world to take advantage of the Country’s stable political and economic investor-friendly environment that is tax-free and which allows 100 percent repatriation of profits, adding that the UAE is home to 32 industrial and free zones that have continued to attract thousands of registered companies even during the global economic recession, which is reflective, she said, of the UAE government’s commitment to construct an open and strong knowledge-based economy, and which has in turn also contributed to the Country’s success in maintaining its standing as the 2nd most preferred destination for Foreign Direct Investments (FDIs) in the Arab world. The Vice Mayor of Beijing, Xia Zhanyi, addressed the participations and highlighted the strength of UAE – Chinese relations. The Chinese official stated that bilateral trade between the two countries in 2011 reached around USD 35 billion, USD 4.53 billion of which was conducted with Beijing alone, registering a year on year increase of 33.5 percent. Zhanyi added that Beijing’s share of the two country’s bilateral trade is currently around 13 percent, pointing out that the city hopes to further strengthen its relations with the UAE in all areas especially in infrastructure and industrial development. He also commended the signing of an agreement last January, during the visit of Chinese Premier Wen Jiabao,which paved the way for the establishment of a strategic partnership between the two countries aimed at boosting trade. The Chinese official added that Beijing hopes to make its cooperation with the UAE a model to be emulated by China as a whole and to become the gateway for UAE products into China. He also welcomed UAE companies and investors to explore opportunities in his city. During the summit, a number of participating Chinese investors showcased 35 investment projects and trade opportunities worth millions of US dollars. China’s exports to the Arab world have witnessed considerable growth in recent years. In 2011, Arab-Chinese trade reached USD 196 billion, registering a 35 percent increase from 2010. In 2011 GCC-Chinese trade was around USD 133.6 billion, constituting a 68 percent share of overall Arab trade. http://moft.gov.ae/en/det.aspx?detid=446&resourceid=305/3/2012 12:00:00 AMThe UAE today serves as a promotion platform for foreign economies through hosting major international investment promotion conferences, Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, said on Wednesday. These investment road shows, she added, provide a fitting platform for bringing investors from all corners of the world closer. Sheikha Lubna made her remarks at a meeting with ministers and top officials from four countries participating at the Annual Investment Meeting 2012 (AIM), which opened at the Dubai International Convention and Exhibition Center on Tuesday. The AIM drew about 4,000 delegates, including 30 ministers, from 45 countries. Sheikha Lubna welcomed Zafer Chaglayan, Turkey's Minister of Economy, Makhdoom Amin Fahim, Pakistan's Minister for Commerce, Gerald Tremblay, Montreal's Mayor and Giancarlo Innocenzi Botti, Chairman of Invitalia, Italy's agency for investment promotion. The Minister also chaired the Ministerial Networking Roundtable during which she gave an overview of the UAE economy, saying foreign trade had surpassed one trillion Dirhams in 2011. Sheikha Lubna underlined the UAE's sincere interest in building long-term economic and cooperation partnerships with other world countries in the best interest of their respective peoples. http://moft.gov.ae/en/det.aspx?detid=445&resourceid=305/3/2012 12:00:00 AMH.E. Sheikha Lubna held talks with Mr. Andrzej Dycha, the Deputy Minister of Economy of Poland with the presence of Professor Adam Kashimovski, the Ambassador of the Polish Republic in the UAE. During the meeting, Sheikha Lubna commended Poland’s large participation in the expo that is taking place on the sidelines of AIM, adding that this level of participation reflects the depth of bilateral relations between the two countries. For his part, the Polish official underlined the strong economic and commercial ties that exist between the two countries, expressing his hope that they will be further developed in the future especially that there are many opportunities in the trade and investment sectors of both countries. He also stressed on his country’s keenness to see bilateral relations with the UAE grow, describing it as a strategic and important partner for his country in the Middle East. The Polish official added that there are many Polish companies that wish to increase their commercial presence and promote their agricultural and industrial products through the UAE, which he said his country regards as a gateway to the region. He also called on UAE companies to benefit from the available investment opportunities in Poland, especially those arising as a result of the country’s privatization drive. http://moft.gov.ae/en/det.aspx?detid=444&resourceid=305/3/2012 12:00:00 AMDuring the meeting with Mr. Vincent Kumar, the Minister of Tourism of the Indian State of Andrapesh, Sheikha Lubna underlined the strength and diversity of the UAE’s cooperation with Asian countries, and with India in particular in all areas. She emphasized the importance of increasing efforts towards further strengthening bilateral, regional and multilateral economic cooperation in order to achieve sustainable economic development that would serve the interests of the peoples of the region. For his part, the Indian Minister expressed his appreciation to Shiekha Lubna for joining the UAE’s delegation to the Cooperation Summit 2012 that took place in Hyderabad, India, last January. The Indian Minister further stated that both countries share a common vision regarding the importance of strengthening investments in all fields, especially in foreign trade, where India is regarded as the UAE’s largest partner. http://moft.gov.ae/en/det.aspx?detid=443&resourceid=305/3/2012 12:00:00 AMDuring Sheikha Lubna’s meeting with Mrs. Irena Sishero, the President of the Russian National Committee for Investment and member of the UAE-Russia Business Council, Mrs. Irena showcased the role her entity plays in promoting investments in Russia and attracting foreign investments from across the world, as well as organizing the visits of economic delegations. http://moft.gov.ae/en/det.aspx?detid=442&resourceid=305/3/2012 12:00:00 AMSheikha Lubna held talks with Mr. Temir Sarieve, the Minister of Economy and Antimonopoly Policy of Kyrgyztan during which both Ministers discussed bilateral cooperation in trade and means by which to assist various Kyrgyz companies interested in entering joint ventures with UAE companies especially in the establishment of free zones. They also discussed opening a direct air link between the two sides to ease travel and commercial exchange. http://moft.gov.ae/en/det.aspx?detid=440&resourceid=305/3/2012 12:00:00 AMSheikha Lubna held talks with Mr. Rashad Bathiudeen, Minister of Industry and Trade of Sri Lanka, during which both Ministers discussed strengthening investments between the two countries and further boosting the UAE’s role, which is the largest among all GCC countries in the Island State, with UAE companies like Etisalat, Al Ghurair and Al Futtaim already in operation there. The Sri Lankan Minister expressed his hope to see UAE companies enter the Tourism and Health sectors in his country, expressing his admiration of the important role UAE investments already play in Sri Lanka’s development. http://moft.gov.ae/en/det.aspx?detid=439&resourceid=305/3/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has stressed that economic globalization must serve the establishment of bridges of cooperation in development between the world’s economies. She added that the UAE’s strategic outlook, which extends up to 2021, takes into account both the regional and international dimension as it develops the Country’s economy and ensures its sustainability. Her remarks were made during a series of meetings she conducted with ministers and officials from seven countries taking part in the Annual Investment Meeting, which began in Dubai on Tuesday. Sheikha Lubna held talks with Mr. Andrzej Dycha, Deputy Minister of Economy, Poland, Mr. Rishad Bathiudeen, Minister of Industry & Trade, Sri Lanka, Mr. Temir Sariev, Ministry of Economy and Antimonopoly Policy, Kyrgyzstan, Mrs. Irena Sishero, the President of the Russian National Committee for Investment and member of the UAE-Russia Business Council and Mr. Vincent Kumar, the Minister of Tourism of the Indian State of Andrapesh. During the meetings, which were held separately, Sheikha Lubna welcomed the delegations participating in the AIM, which has become an ideal global platform for investment promotion and creating new economic and investment relations with investors. She said that this year, the AIM is seeing the convergence of hundreds of delegates from over 45 countries under one roof. http://moft.gov.ae/en/det.aspx?detid=437&resourceid=305/1/2012 12:00:00 AMH.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC) today attended the opening session of the "Annual Investment Meeting 2012" organized by the Ministry of Foreign Trade under the patronage of the Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum at DIFC. The three-day event was inaugurated by Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade and is attended by about 3000 expert and investors, including more than 30 Arab and foreign trade and economy ministers. Sheikha Lubna welcomed the delegations participating in the second annual investment conference under the title "Foreign Direct Investment." She noted that the conference is an opportunity for participants to discuss strategic economic issues of common interest and invited them to explore the numerous business and investment opportunities available in the UAE. http://moft.gov.ae/en/det.aspx?detid=435&resourceid=305/1/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi and President of Tatarstan Rustam Minnikhanov discussed in Dubai on Tuesday bilateral relations and opportunities for trade and investment cooperation between the two countries. The two sides discussed, during their meeting at the Dubai World Trade Centre on the sidelines of the annual Investment Forum in Dubai, the trade of products and commodities of both countries and the means of enhancing relations between companies. A good number of companies from Tatarstan are participating in the Forum, which is schedule to be concluded on Thursday. http://moft.gov.ae/en/det.aspx?detid=434&resourceid=304/25/2012 12:00:00 AMHer Excellency Sheikha Lubna bin Khalid Al Qasimi, UAE Minister of Foreign Trade, has inaugurated the UAE Investment Forum as part of the UAE's dedicated pavilion at Hannover Messe, the international industrial and technology fair regarded as one of the world's largest industrial and technology events, being held from April 23 to 27, 2012, in Hanover, Germany. The UAE Investment Forum will serve as a window into the investment potential and growth opportunities offered by the country for foreign investors and businesses. Opening the Forum, Sheikha Lubna said: "One aspect that continues to draw us to Hannover Messe is its diversity. In a similar fashion, the UAE looks to diversity to fuel its growth. Our comprehensive economic diversification program has enabled us to raise the contribution of our non-oil industries to over 70 per cent of our GDP. "Last year, the UAE's industrial investments reached a record high of USD 31 billion to surpass the 2010 figure by 12.8 per cent. Our goal is to make our non-oil industrial activities account for 25 per cent of our economic output by 2025," she added. Sheikha Lubna said that innovation is important to the UAE's vision of developing a resilient industrial framework. "Our various global recognitions have affirmed the UAE's strong commitment to innovation and technology-enabled development. We are also focused on renewable energy, as reflected in pioneering initiatives such as Masdar City, one of the world's foremost eco-cities taking shape in Abu Dhabi". The Minister added that the announcement in January of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice- President and Prime Minister of UAE and Ruler of Dubai, to launch a long-term national initiative to build a green' UAE economy underlines the country's vision for long-term sustainability. To be undertaken under the slogan A green economy for sustainable development,' the initiative will transform the UAE into a global leader and a hub for trade in green products and technologies. It also seeks to maintain a sustainable environment to drive long-term economic growth. Sheikha Lubna invited German investors to evaluate the various business and investment incentives that the UAE offers to industrial firms. "The UAE offers several advantages including a safe work environment, the absence of corporate and personal taxes, 100 per cent repatriation of profits, business-friendly policies, and abundant sources of inexpensive energy. We also offer the facilities and services of our 32 state-of-the-art free and industrial zones which received thousands of corporate registrants last year despite the sustained global downturn," she said. "Last year we recorded an estimated economic growth of around 3.3 per cent despite unprecedented regional and global challenges. This year we have set a federal budget of USD 11.4 billion to fund the expansion of our economic activities, generate more jobs, expand our trade and further develop our infrastructure to retain our competitive status as the second largest Arab economy". The UAE is the second-most preferred Foreign Direct Investment or FDI destination in the Arab world. An UNCTAD report issued last year pegged the UAE's cumulative FDI inflow at USD 75.7 billion from 2000 to 2011, accounting for almost 17 per cent of the total Middle Eastern FDI during that period. The country's non-oil foreign trade rose 22 per cent to USD 250 billion, with exports surging an impressive 35 per cent, reaffirming the country's status as the region's commercial hub. The Forum witnessed a keynote address by H.E David McAllister, Prime Minister, State of Lower Saxony; followed by a panel discussion on "Investing in the UAE", showcasing the complementarity of each Emirate and unique value-proposition of the UAE for Foreign Direct Investment in various technological sectors of excellence for German companies. The Forum was closed with a discussion between Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development of Abu Dhabi, and Brian Lott from the Mubadala Development Company about "Economic Diversification, from Planning to Reality". The discussion highlighted the investment opportunities available in Abu Dhabi and the efforts being exerted to enhance diversification by focusing on strategic sectors and small and medium businesses. http://moft.gov.ae/en/det.aspx?detid=433&resourceid=304/25/2012 12:00:00 AMHer Excellency Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade on Tuesday received Prime Minister of Lower Saxony, David McAllister, at the UAE’s Pavilion at the Hanover International Industrial Exhibition 2012 in Germany. During the meeting, which was attended by H.E. Mohammed Omar Abdullah, the Undersecretary of the Department of Economic Development (DED) and a number of senior officials, both parties reviewed trade and investment ties and ways to boost them as well as developing economic partnerships among entities and companies operating in both countries. Sheikha Lubna referred to the strong economic and trade relations between UAE and Germany. She also stressed on the UAE's keenness to consolidate and develop wider horizons of future cooperation within the framework of the diverse opportunities in the trade and investment sectors. For his part, Prime Minister of Lower Saxony welcomed the UAE’s remarkable participation and underlined his country’s distinguished economic and trade relations with the UAE. Sheikha Lubna also met with the Federal Minister of Economics and Technology, Dr. Philipp Rosler, and discussed bilateral relations between the two countries particularly in the economic and trade sectors as well as ways to boost them for the interest of the two countries. The meeting, which was held on the sidelines of the exhibition, also discussed the importance of international fairs and exhibitions for the convergence of ideas and finding solutions to economic and industrial projects worldwide. Sheikha Lubna pointed out that the UAE is considered as one of the world's advanced centers for the exhibition industry and that it regularly witnesses huge international turnout in this regard. For his part, Rosler hailed the UAE's participation at the exhibition as well as the strong relations between the UAE and Germany, which resulted in a host of projects, programs and the signing of MoUs. http://moft.gov.ae/en/det.aspx?detid=432&resourceid=304/23/2012 12:00:00 AMHer Excellency Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has led a business and governmental delegation to the 2012 HANNOVER MESSE, the world's most important technology event. Represented by 23 governmental and private institutions and companies, the UAE is hoping to benefit from the world's most important technology event, which will showcase ground-breaking innovations from across the world. The Minister and other senior officials toured the venue of the exhibition and the pavilions of the participating Emirati companies. The event, which runs between 23 - 27 April, in Hannover, Germany sees the premiere of ‘IndustrialGreenTec’, the new trade fair for environmental technology. Focusing on trends and solutions for sustainable industrial production, ‘Greentelligence’ will be the ‘keynote theme’ throughout HANNOVER MESSE. http://moft.gov.ae/en/det.aspx?detid=431&resourceid=304/23/2012 12:00:00 AMKhalifa Industrial Zone Abu Dhabi (KIZAD) has kicked off its participation at the international Hannover Messe Fair in Germany this week by announcing that it has signed Talah Board as a new tenant on the industrial zone. KIZAD is participating for the second consecutive year at the prestigious industrial fair as part of the UAE's national pavilion, under the patronage of the DED. The industrial zone has signed a Musataha agreement with Talah Board, a UAE based company that will produce high quality construction boards out of waste from date palm trees and will be distributed across the UAE and the Middle East. It will be environmentally friendly and the first of its kind board production facility in the region. Binos, the German developer and manufacturer of machines, components and technologies for the wood- and mineral-bonded board industry will provide the machines at the new facility. The signing took place on the UAE pavilion in the presence of Her Excellency Sheikha Lubna bint Khalid Al Qasimi, UAE Minister of Foreign Trade; Mr. Khaled Salmeen, EVP of Industrial Zones at the Abu Dhabi Ports Company; along with Mr. Hatem Farah, Chairman of Talah Board and Mr. Berndt Greten, President of Binos. According to the signed contract, Talah Board and Binos will be assigned a 50,000 m2 plot of land in one of the world's largest industrial zones. Talah Board will operate from the site, using state of the art machinery and plants for the production of the high quality boards that can be used for furniture, formwork, prefab housing, joinery works and various other uses. Sheikha Lubna opened the fair in the attendance of Mohammed Omar Abdullah, the Undersecretary of the Department of Economic Development. Commenting on their second visit to the German market, Mr Khaled Salmeen, EVP of Industrial Zones at Abu Dhabi Ports Company, said: "We are delighted to be part of the UAE's national pavilion this year and we would like to thank the DED and Sheikha Lubna Al Qasimi and Mohamed Omar Abdullah for their continuous support. We are especially proud to be marking our second participation at the event by signing our first international Musataha agreement, with Talah Board and Binos. Kizad is now 85% complete and construction is well underway in preparation for the official opening of Area 1 in Q4 2012. We have now secured four local tenants, with 12 more in the pipeline, which we hope to announce soon. We look forward to welcoming our partners to our state of the art facilities while offering them nothing but the best in class services." Mr. Hatem Farah from Talah Board added: "We have always been eager to support initiatives taken by the UAE government, especially the ones which further support a sustainable economy and develop an innovative and environmentally friendly industrial sector. We take pride in being part of this compelling development and look forward to working in partnership with Binos and Kizad as we strive to achieve our goals." Commenting on the announcement, Mr. Berndt Greten of Binos , said: "At present high-quality wood boards are imported from the international market. Today that all changed as this announcement makes it possible for the Middle East to produce their own boards using the Palm tree - a natural resource that exists throughout the UAE. Kizad was the ideal location choice for us due to its accessibility and low operating costs, as well as future market potential in Abu Dhabi. We see great opportunities for our company to grow as the industrial zone expands and we look forward to commencing operations in Abu Dhabi and a long and fruitful relationship with Kizad." Hannover Messe Industrie 2012, the world's leading showcase for industrial technology is being held from 23-27 April 2012 in Hannover Germany, and features exhibitors from various industrial sectors coming from across the globe. http://moft.gov.ae/en/det.aspx?detid=430&resourceid=30