Published On: 10-7-2017

– H.E. Al Ghurair: The trade mission enhanced our bilateral relations with our French and Italian counterparts

– H.E. Buamim: Dubai’s non-oil trade with France reached US $ 5.7 billion in 2016, and France is considered one of Dubai’s top trading partners in Europe

– Delegates held meeting with Monaco Economic Board, Monaco Tourism Board, Monaco Inter Expo and Nice Chamber of Commerce

Dubai, UAE: The UAE trade mission, headed by H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, recently concluded a successful trade mission to the Italian Riviera and southern France, visiting Monaco and Nice.

which was organised to facilitate economic cooperation and explore trade and investment opportunities in the two cities.

The trade mission, which was organised by Dubai Chamber of Commerce and Industry in cooperation with the UAE Ministry of Economy during the period July 3rd- 7th, 2017, discussed economic partnerships and ways to facilitate cooperation and investment opportunities in both countries.

Following the conclusion of the visit to the Italian city of Genoa, the UAE delegates visited Monaco where they held a number of meetings and briefings with Monaco Economic Board, Monaco Tourism Board and Monaco Inter Expo. These meetings highlighted the investment opportunities and areas of cooperation between the two sides.

The UAE delegates also visited The Grimaldi Forum in Monaco and participated in the 2-day conference “Innovation City 2017”, held in Nice

The conference focused on disruptive innovation such as blockchain, smart data, smart grids, Uberisation, waste management, security, sport, and innovative transport solutions.

The UAE delegation also met officials from Nice Chamber of Commerce and discussed investment opportunities and cooperation between the two business communities. Also, the delegates visited Future Science and Technology Park, Allianz Riviera Stadium, and 27 Delvalle.

H.E. Sultan Bin Saeed Al Mansoori, Minister of Economy, said that the UAE and the French Republic have enjoyed strong economic relations based on openness, cooperation and the move to achieve common interests—ably guided by the mutual desire to contribute to the development of various aspects of cooperation, alongside common aspects of their respective economic visions and policies that are aimed at consolidating the bonds of this relationship on an ongoing basis. The strength of UAE-France ties is reflected in the signing of several agreements that have further reinforced strategic cooperation across areas of mutual interest.

He pointed out that the trade exchange between the two sides has taken a positive step in the past years–indicating the depth of the trade partnership enjoyed by the countries despite the challenges of the international trade movement. The total non-oil foreign trade between them in 2016 reached USD 7.4 billion, which is up from USD 7.2 billion in 2015.

H.E. Al Mansoori added that investment flows between the two countries are also witnessing advanced levels, where the balance of French investments in the UAE until 2015 reached USD 5.6 billion, with more than 600 French companies and 287 French trade agencies operating in the country today. UAE investments in France has reached more than USD 4.2 billion by the end of 2014.

The Minister of Economy explained that the tour carried out by the UAE trade mission to the southern French region represents an important opportunity to enhance economic cooperation between the UAE and France in various sectors of common interest, especially those associated with the strengthening of the trend towards diversified and sustainable knowledge-based economy on innovation and technology.

On his part, H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber said that the visit achieved its objectives by enhancing the ties between the two sides. He added that the two regions are well known for their tremendous opportunities in major sectors such as tourism, innovation, smart solutions and technical industries, stating that these sectors present wider opportunities for the future.

H.E. Hamad Buamim, President and CEO, Dubai Chamber pointed out that France is ranked 5th on the list of Dubai’s top trading partners in Europe.

“The emirate is home to many successful French businesses, and we have seen the number of French companies registered with the Chamber grow steadily. Bilateral trade amounted to $5.7 billion in 2016, driven partly by a steady increase in French exports to the emirate,” said H.E. Buamim.

The UAE delegation to Italian Riviera and South France is headed by H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, and joined by H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber, H.E. Hamad Buamim, President and CEO, Dubai Chamber; H.E. Eng. Mohammed Al Shehhi, Undersecretary for Economic Affairs – UAE Ministry of Economy, H.E. Jamal Al Hai, Deputy CEO, Dubai Airports, and Mr. Abdulla Qassem, Chairman, Network International.