Australia is one of the largest trading partners of the UAE. In addition, there are about 50 Australian companies and more than 60 trading institutions in the UAE.
The extension of trade and economic cooperation between the UAE and Australia and the promotion of investments, was the focus of the meeting of the UAE Economy Minister Sultan bin Saeed Al Mansoori and Steven Ciobo, Australia’s Minister for Trade, Tourism and Investment.
The Ministers considered the opportunities for deepening cooperation between small and medium-sized enterprises in the fields of agriculture, innovation and economy.
Al Mansoori noted that the UAE is satisfied with the cooperation with Australia and glad to exchange visits, meet delegations and have different economic activities.
The UAE and Australia are strengthening mutual partnership in the most important spheres such as agriculture, education, investment, trade, tourism, innovation and some others.
Al Mansoori marked that total bilateral non-oil trade between the countries reached a high of AED10.4 billion (more than $US2.8 billion) at the end of 2016. The tendency of its growth saved in 2017 and is planned to increase further.
In turn, the Australian Minister stressed that economic ties between partners should be strengthened. Due to its attractive business environment and infrastructure, as well as current legislation, the UAE is a unique place for Australian investments.
So, the UAE and Australia not only maintain stable economic relations, but also strive for mutual strengthening and development of interaction in various spheres.