Al-Mansouri, Luxembourg envoy discuss economic cooperation ties

UAE Economy Minister Sultan bin Saeed Al Mansouri has said the relations between the UAE and Luxembourg were experiencing growth given wide range of opportunities for upgrading joint cooperation in the areas of economy, trade and investment. Al Mansouri made the remarks here today, while receiving Ambassador of the Grand Duchy of Luxembourg to the UAE Nicole Bintner. He said the non-oil trade exchange between the two countries was growing though not at the level of aspiration, noting that the trade exchange stood at $83 million in 2012. The UAE minister suggested a proposal to further boost the trade exchange and relations between the two countries in all fields. He added that the first step was to explore potential investment opportunities and reinforce the role of two business communities in both countries to open new horizons of bilateral cooperation. Al Mansouri called for focusing on mutual investment in small and medium enterprises, being a major component for any economy. For her part, the Luxembourg envoy said there were business opportunities in her country similar to the UAE, adding that the two economies were special in terms of economic diversification and strategic locations- extremely important for re-exportation and storing of valuable goods. She congratulated the UAE for winning the bid to host Expo 2020, expressing her admiration about the remarkable progress being experienced by the UAE.