Abu Dhabi: Sultan Bin Saeed Al Mansouri, Minister of Economy, has discussed ways to further develop trade and investment ties with Australia with Steven Ciobo, the Australian Minister of Trade, Tourism and Investment, according to a WAM statement.
Talks were held during a meeting at the ministry’s headquarters in Dubai at which Abdullah Sultan Alfan Alshamsi, Assistant Under-Secretary for Industrial Affairs, the Australian Consul-General to the UAE, and senior officials and advisers from both sides were also present.
The parties voiced a common desire to enhance cooperation in several vital economic sectors, most notably tourism which has promising growth opportunities and is gaining increasing interest from UAE investors who want to be part of tourism and hospitality projects in Australia. They also discussed available investment opportunities in mining and industry and emphasised the importance of strengthening cooperation in the aviation sector, one of the most successful areas of cooperation between the two countries.
Participants discussed coordination for the joint economic committee meeting between their countries later this year, as well as the signing of a Memorandum of Understanding in the field of innovation which is currently being prepared by specialists from both sides. Current negotiations between Australia and GCC countries on the signing of a free-trade agreement were tackled as well.
Non-oil foreign trade between the two countries reached around $2.8 billion (Dh10.3 billion) in 2015 and $2.1 billion during the first nine months of 2016.
