MOE discusses the development of economic and trade cooperation with Angola
Added: (Mon May 14 2018)
Pressbox (Press Release) -
Abu Dhabi, 14 May 2018
H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, recently met with Angolan delegates to discuss economic and trade cooperation between their countries. Led by H.E. Manuel Augusto the Ministry of External Relations of Angola, the delegates visiting the UAE consisted of H.E. Diamantino Azevedo, Minister of Oil and Mineral Resources, and senior government officials.
Also present during the meeting were H.E Eng. Mohammed bin Abdul Aziz Al Shehhi Undersecretary of Economic Affairs in the Ministry of Economy; H.E. Juma Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs; Jamal Al Jarwan, Secretary General of the UAE International Investors' Council; and Omar Abdullah bin Ghalib, Deputy Director General at the General Civil Aviation Authority.
The two sides tackled ways to enhance their partnerships in important industries such as oil and gas, precious metals, agriculture, civil aviation, and telecommunications, economic, trade, investment, and technical collaborations were key points of discussions as well.
According to H.E. Al Mansoori, the meeting reflected the UAE’s international policy to strategically strengthen its ties with key African nations such as Angola, one of the region’s biggest markets. The non-oil trade relations between the UAE and Angola rose to USD 1.6 billion by the end of 2017, up by 38 per cent from USD 1.15 billion in 2016. The figures indicated the widening ties between the two countries during the period.
H.E. stressed the need to develop a joint mechanism to reinforce legislative frameworks designed to promote trade, investments, and major aviation-related activities, adding that the role of the private sector should also be emphasized to stimulate profitable and mutually beneficial trade and investment projects.
H.E. took the opportunity to discuss key policies and initiatives of the UAE Government such as UAE Vision 2021, the economic diversification plan, and a shift towards a sustainable and innovation- and knowledge-driven economy.
Both sides also agreed on the importance of establishing a joint economic committee to set up a clear action plan focusing on key economic areas in the near future.
For his part, H.E. Augusto expressed his country’s intention to develop stronger relations with the UAE, saying that Angola is impressed by the country’s pioneering experience in diversifying its economy. Angola, he added, would like to benefit from the UAE experience in this regard.
H.E. Augusto tackled enormous economic investment opportunities in Angola during the meeting as well, expressing his country’s desire to forge robust partnerships with the UAE’s private sector.