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Tuesday, April 23, 2024

Abu Dhabi Chamber, Romanian PM explore mutual investment opportunities

(Abu Dhabi) – The Abu Dhabi Chamber of Commerce and Industry discussed economic cooperation between the UAE and Romania, during a meeting with Viorica Dancila, Prime Minister of Romania, and her delegation in the Emirates Palace hotel, as part of her visit to the UAE.

At the meeting, Ibrahim Al Mahmoud, First Deputy Chairman of the Board of Directors of the Abu Dhabi Chamber of Commerce and Industry, said in his welcome speech, that they are receiving a high-level delegation from the friendly country of Romania and are looking forward to promoting strategic trade and investment partnerships to serve the mutual interests of both countries.

Al Mahmoud stated that ties are growing as foreign trade between the two countries from 2015 to 2017 has seen significant growth with the non-oil trade exchange in 2016 reaching nearly US$573.8 million as compared to $519.1 million, an increase of 10.5 percent.

He said that the warm ties and encouraging environment between the UAE and Romania affirm that the private sector in both countries can benefit from the available investment opportunities.

From the Romanian side, the business sector has comparative advantages available in the UAE in terms of an excellent investment environment, good economic fundamentals, especially infrastructure, and promising investment opportunities particularly the commercial markets and the purchasing power.

Referring to the MoU which was signed by the UAE Chamber of Commerce and Industry and Romania’s Chamber of Commerce and Industry in the Romanian capital, Bucharest, he said they could build on it and translate it into opportunities which serve the goals of both sides. That could be achieved through intensifying visits and exchanging information to learn of more investment opportunities and investment legislation that are prevalent in both countries which serve the needs of businessmen, businesswomen and investors in both countries.

In her speech, Prime Minister Dancila expressed her happiness at the meeting and the opportunity to meet the chamber’s officials and the businessmen and investors, pointing to Romania’s desire to develop economic and investment relations with the UAE.

She asserted that she looks forward to inaugurating many investment deals in different fields for Emirati investors in Romania so that the UAE takes the lead in establishing commercial relations with Romania and on a regional level. The UAE enjoys the strong fundamentals prevalent among leading countries in commercial and economic investment dynamics, she added.

Both sides witnessed presentations by Stefan-Radu Oprea, Minister of Business Environment and Trade in Romania, about investment opportunities in Romania, especially in the fields of health, medical services, and tourism and technology. The UAE is considered one of the top countries which cares about technological transformation and the digital economy, which is considered the future of sustainable economies, the presentation said.

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