H.E. Bin Touq discusses economic & trade partnerships with ministers from Oman, Romania, Armenia & Kyrgyzstan

Array of key bilateral meetings held on the sidelines of World Government Summit 2022

Abu Dhabi, 30 March 2022:

H.E. Abdulla bin Touq Al Marri, Minister of Economy, discussed ways to develop economic and trade partnerships between the UAE and Oman, Romania, Armenia, and Kyrgyzstan, during bilateral meetings held with the economy ministers of these sister and friendly countries participating in the World Government Summit 2022 (WGS 2022).

The meetings discussed opportunities for joint cooperation in the areas of trade, investment, transport, aviation, tourism, agriculture, food industries, food security, infrastructure, and logistics services, as well as the importance of cooperation in sectors of the new economy, including the circular economy, the promising opportunities it offers, and the steps taken by the UAE to develop its capacities and capabilities in this area.

H.E. Bin Touq underlined that, in view of the vision of its wise leadership, the UAE is now transitioning into a flexible and sustainable economic model and is moving towards further expanding its economic partnerships with the world and opening up to international markets in the light of its targets for the next 50 years. The Minister reiterated the UAE’s desire to build bridges of cooperation with various countries of the world in order to achieve this new vision, thereby strengthening their network of foreign relations and contributing to the diversification of their economic, trade, and investment partnerships. The next phase is more likely to reach higher levels of growth in the volume of foreign trade and investment flows exported and imported by the UAE, with the implementation of the plans and Projects of the 50 announced by the government last September, aimed at establishing the country’s position as a preferred regional and global destination for business, investment, trade, tourism, and sectors of the future economy.

During the meetings, H.E. reviewed the UAE government’s efforts to develop infrastructure and legislation to be more flexible and able to keep pace with successive technological developments, as well as to expand the network of the UAE’s foreign relations through a number of initiatives. The most notable among these is the comprehensive economic partnership agreements (CEPA), which will provide access to markets that cover 26% of the world's population, along with strategic initiatives with a long-term development impact, such as the Investopia investment summit, UAE strategy for talent attraction and retention, Entrepreneurial Nation, and other projects that strengthen the UAE’s position at the heart of the new global economy.

Sultanate of Oman

H.E. Bin Touq and H.E. Dr. Saeed bin Muhammad Al Saqri, Minister of Economy of Oman, discussed ways to broaden cooperation and joint economic action during the next phase. The meeting emphasized the strength of fraternal relations between the two countries and the mutual desire to develop economic and trade integration efforts and explore new opportunities for the private sector of the two countries to enter into partnerships that serve their development agendas, particularly in areas of mutual interest, including innovation, research and development, renewable energy, entrepreneurship, and other areas that would move the existing economic partnership towards more advanced and prosperous prospects.

Romania

In another meeting, H.E. Bin Touq and his Romanian counterpart H.E. Florin Spătaru explored ways to develop bilateral economic relations. During the meeting, the two sides emphasized their mutual interest in supporting economic cooperation efforts in various areas of mutual interest and encouraging the private sector and investors in both countries to engage in joint projects and explore trade and investment opportunities offered by the markets of the two countries. Particularly, this includes the areas of agriculture, food security, tourism, renewable energy, and transport, as well as in the areas of the new economy, namely the circular economy, which would create many opportunities for joint action and the establishment of new development partnerships.

Armenia

H.E. also met with H.E. Vahan Kerobyan, Deputy Prime Minister and Minister of Economy of Armenia. Both sides discussed ways to strengthen joint trade relations, diversify the bilateral economic cooperation agenda, and develop mechanisms for sharing experiences and knowledge, particularly in the areas of sustainable development, creativity, and the digital economy. In addition, the two sides explored cooperation opportunities in terms of food security, renewable energy solutions, and advance technology industries.

Kyrgyzstan

In a meeting with Arzybek Kozhoshev, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, H.E. Bin Touq confirmed that the economic partnership between the UAE and Kyrgyzstan is growing and gaining momentum. During the meeting, the two sides reviewed the strength of the links between the two friendly countries and the important steps taken over the past years to develop common cooperation frameworks and move them towards more advanced levels, most notably the establishment of a joint economic committee between the two countries, which has contributed to the development of a clear vision and specific cooperation programs that serve the development objectives of the two countries. The Ministers also discussed investment opportunities in agriculture and food security, including food industries, tourism and infrastructure, and renewable energy.

Global platform to shape the future

WGS, the platform for more than 30 global organizations and hosts, through its special edition this year, hosted more than 4,500 participants from among senior government officials, experts, and private sector leaders, to explore the governments’ future within more than 110 major interactive panel discussions and sessions.

Since its launch in 2013, the WGS has focused on foreseeing future governments and building a better future for humanity and has contributed to the establishment of a new system of international partnerships based on inspiration and government’s foresight.