UAE, Malta discuss economic cooperation

UAE, Malta discuss economic cooperation

ABU DHABI, 11th February, 2022 (WAM) -- Abdullah bin Touq Al Marri, Minister of Economy, Robert Abela, Prime Minister of Malta, and Silvio Schembri, Minister of Economy and Industry of Malta, discussed enhancing economic cooperation between the UAE and Malta.

The meeting took place on the sidelines of Al Marri’s official visit to Malta from 6th to 11th February.

Sameh Al Qubaisi, Director-General of Economic Affairs at the Department of Economic Development-Abu Dhabi, and several public and private sector officials, also attended the meeting.

During the meeting, Abela said the bilateral ties between the UAE and Malta are solid and deep-rooted and based on their mutual desire to enhance them in all areas of development while noting that economic cooperation is the cornerstone of the partnership between the two countries.

Al Marri stressed that the UAE prioritises its trade with Malta and capitalises on its significant expertise in technological and electronic industries and digital games.

"The UAE is implementing a clear vision aimed at enhancing its stature as a leading international trade and investment destination, increasing the value of its non-oil trade and achieving sustainable development in key sectors. We will continue to reinforce our cooperation with our partners, establish the foundations of a smart economy, draft policies and initiatives that support businesses and encourage investment, and drive the process of digital transformation in the trade, industrial, logistics and supply sectors," he said.

He then invited Abela to visit the Investopia Investment Summit to be held in the UAE on 28th March, 2022.

Schembri highlighted Malta’s commitment to cooperating with the UAE in developmental and technological areas.

"The UAE is a key partner of Malta in new economic areas, and our bilateral ties have seen significant recent growth, and we aim to maintain and develop them," he said.

During the meeting, both sides affirmed the importance of increasing their trade exchange and mutual exports in light of the significant opportunities available in both countries, promoting cooperation in aviation and discussing cooperation opportunities in digital transformation and the green economy.

The UAE is the leading trade partner of Malta in the Gulf Cooperation Council (GCC), and the value of their foreign trade amounted to US$582 million. The two countries have signed several agreements to boost cooperation in air transport services.