UAE-Spain Joint Economic Committee’s second meeting concluded on a positive note as both sides agreed to undertake all possible measures to further strengthen bilateral trade and extend cooperation on strategic levels of economic activity for mutual benefit.
In a joint statement, H.H. Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Luis de Guindos Jurado, Spain’s Minister of Economy and Competitiveness, expressed satisfaction over the meeting and underlined the need to consolidate efforts both bilaterally and through the EU platform to facilitate access to key markets.
Economic relations between the two countries have been bolstered in recent years with a rising number of trade missions and high level official visits, following which more Spanish companies have established a presence in the UAE, and the UAE investments in Spain have witnessed sustained growth.
“The UAE-Spain Joint Economic Committee has become a major contributor to our efforts to boost trade and commercial ties between our two countries. I am happy to note that the bilateral trade between our countries has registered 75 per cent growth over the last three years, from €1 billion in 2009 to €1.75 billion in 2012,” said Al Mansouri.
De Guindos also expressed satisfaction with “the increased bilateral trade flows” but added that “there is room to improve in terms of investment opportunities”.
