Abdullah bin Zayed heads UAE delegation to GCC ministerial meeting

Abdullah bin Zayed heads UAE delegation to GCC ministerial meeting

Riyadh:  Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan has led the UAE delegation to the 126th meetings of the GCC ministerial council which kicked off this evening in Riyadh under the chairmanship of Sheikh Khalid bin Ahmed bin Mohammed Al Khalifa, Foreign Minister of Bahrain.

Present were the foreign ministers of the GCC countries and the GCC Secretary General Dr Abdulatif Rashid Al Zayani.

Sheikh Khalid bin Ahmed bin Mohammed Al Khalifa delivered a speech in which he welcomed the participants, stressing that the GCC Member States look forward to better relations with the Islamic Republic of Iran.

'Unfortunately, Iran still intervenes in the GCC internal affairs and occupies the UAE islands 'Abu Musa and the Greater and Lesser Tunbs'. Iran rejected any discussion or peaceful solutions through negotiation and international arbitration, pointing out that this calls upon our countries standing against these interventions as well as international and regional challenges,' Sheikh Khalid said.

He stressed the importance of principle of good neighbourliness as a basic rule committed by the states in the region in accordance with the international laws and norms.

The Bahraini Foreign Minister said that the GCC political stances look more consistent and organised regarding the Palestinian cause or the Syrian crisis which turned into what looks like a disaster through acts of unjustified killing for the Syrian people and due to the inaction of the international community to unify stances in dealing with the Syrian affair, pointing out the success of the Gulf initiative in Yemen.

Sheikh Khalid called to enhance the GCC joint action through economic integration, Gulf joint market, establishment of the monetary and customs union between the GCC countries, promotion of market mechanisms and role of the private sector.

At the end of the meeting, the GCC ministerial council issued a statement in which it reviewed a number of issues and latest regional and international developments. – Emirates News Agency, WAM


Stronger UAE-Irish relations discussed

Minister of Foreign Trade, Sheikha Lubna bint Khalid Al Qasimi, has met with Minister of Enterprise, Trade and Investment of Ireland, Arlene Isabel Foster, and her accompanying delegation, in which talks cantered on strengthening trade and investment relations between the UAE and Northern Ireland and eliminating barriers facing investors from both sides. They also discuss developing joint investment opportunities in unique sectors and adding value to their respective economic sectors.

During the meeting, which was also attended by British Consul General in Dubai, Ed Hobart, Sheikha Lubna underlined the UAE's keenness on strengthening its trade relations and expanding its levels of cooperation with Northern Ireland, emphasising the need to benefit from the legislative, investment and infrastructural facilitations that are offered in the UAE and the country's ideal geographic location, which could all benefit investors and companies from Northern Ireland. She also discussed the establishment of projects of mutual interest in sectors such as renewable energy and in technical and environmentally friendly industries.

For her part, Forster stressed Northern Ireland's admiration of the UAE's developmental stride and its success in attaining advanced rankings in global competitive indexes and in creating an investment climate that is attracting investors from around the world, adding that many Northern Ireland investment entities are looking into strengthening ties with the UAE through expanding the scope of treaties and increasing the exchange of visits.

The meeting was also attended by Abdullah Al Saleh, Undersecretary of the Ministry of Foreign Trade, and other high ranking Ministry officials. – Emirates News Agency, WAM


UAE-South Korea bilateral trade at US$22 billion

The UAE-South Korea bilateral trade amounted US$22 billion and business relations between the two countries are poised for further growth, according to Fahad Al Gergawi, COE of Foreign Direct Investment Office (FDI) in Dubai.

He said this at a press conference here to announce the third UAE-Korea Economic Partnership Forum to be held in Seoul between May 27-28, 2013 with the aim of boosting economic ties and attract more investments opportunities between the two countries.

Out of 200 participants, 80 UAE-based companies will be present out of which 25 companies will be from Dubai.

Pointing to 300 Korean companies registered in the UAE and over 12,000 Korean residents, Al Gergawi said: “South Korean firms and investors have been pioneers in leveraging Dubai’s advantages as a regional hub.”

“Non-oil trade between Dubai and South Korea grew steadily during the past decade and climbed to US$22 billion in 2011 from US$19 billion in 2010.”

He remarked that through the UAE, foreign investors could have a wider field to link to over 2.2 billion consumers in the Middle East, Africa and South Asia in the potential of financial services, healthcare, green technologies, transport, tourism and real estate sectors.

Ali Ebrahim, Deputy Director General for Planning and Development Affairs at the DED, said that Korea is the tenth strategic partner for the UAE in vital sectors.

“There are further avenues where the UAE and South Korea can create game-changing synergies and Dubai particularly sees immense opportunities in South Korea’s cutting-edge technology as well as its focus on innovation and small and medium enterprises,’ he added.

Free zones trade

On the other side, the UAE-South Korea trade through the free zones areas accounted for US$2.2 billion of the country’s overall trade in 2012, Ebrahim Al Janahi, the Deputy CEO and CCO of Jafza, said.

“We have 50 Korean companies in Jafza and most of its businesses is related to infrastructure and nuclear energy,” he said.


Real estate sector

Heading to the forum with 12 UAE-based real estate companies, the emirate is trying to boost the realty business between the two countries.

Sultan Bin Mejren, Director General of the Dubai Land Department, said while the real estate investors in Dubai belong to 195 nationalities, the Korean investment in this sector is very marginal and should be enhanced.

The forum will include a trade exhibition featuring a number of meetings and discussions between businessmen and major Korean companies in addition to a number of investors, Dr. Abdul Salam Al Madani, Chairman of Index Holding, said.

The exhibition is also expected to attract a number of companies from different sectors like trade, IT, manufacturing, tourism, healthcare, power, finance, aviation, construction and real estate. – Gulf News


Abu Dhabi Business Centre opens

Abu Dhabi's Department of Economic Development has announced yesterday the activation of the Abu Dhabi Business Centre (ADBC) which is part of ADDED, in the presence of Mohammed Omar Abdullah, ADDED Undersecretary, and a number of senior officials from various government authorities and council's across Abu Dhabi.

ADDED's Undersecretary and senior officials across Abu Dhabi, went on a tour of the Centre and its various departments and were presented with key services provided by ADBC including the innovative e-Business solutions aimed at reducing the time required for trade licenses.

Nasser Ahmed Al Sowaidi, Chairman of ADDED said: "The Abu Dhabi Business Centre ADBC, is considered a major initiative adopted by the government of the Emirate of Abu Dhabi established to reshape the business environment aligned with International standards and comes as part of a comprehensive strategic plan focused on the development of various economic sectors".

Mohammed Omar Abdullah ADDED Undersecretary stated: "The Centre offers three main services namely, trade licensing and registration services, interactive services by offering consultation and support to companies and investors in addition to offering valuable information for strategic customers and partners in Abu Dhabi revolving the business environment in the Emirate". "ADDED aims at enhancing the services and conditions followed by the business field by reducing the time required to complete trade licenses all condensed in a one-stop-shop being ADBC".

The Centre aspires to upscale efforts to reach the 90% mark for trade licensing completion by the end of 2013 whereby, the Centre will be interlinked to 15 governmental entities. Moreover, further entities will also be included in the near future to reach a total of 45.

The new business centre is ideally located at the ADDED headquarters in the heart of the city with ample parking spaces available within the proximity of the building. The state of the art newly built Centre, has been designed to incorporate various thoughtful services and features including spacious waiting areas, visible front desk and reception areas. – Emirates News Agency, WAM



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