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21 February 2024

State Minister, EU Ambassador discuss UAE-EU trade relations


Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, met yesterday with Andrea Matteo Fontana, European Union’s Ambassador to the UAE, and a number of ministry senior officials at the ministry’s headquarters in Abu Dhabi.

The meeting - which falls in line with the Ministry of Finance’s endeavour to consolidate the nation’s international presence and promote constructive cooperation in financial fields with all European Union countries - touched upon the economic, commercial and financial relations that the UAE shares with the European Union and deliberated ways to enhance it.

Al Tayer affirmed the ministry’s keenness to continue enhancing the strategic partnerships that link the UAE with the European Union countries, in a way that will positively reflect on the comprehensive development process witnessed by the country. He said, "The UAE is keen on enhancing economic, trade and financial relations with the European Union."

The two sides discussed the importance of strengthening cooperation in areas related to transparency, the exchange of information and strengthening related legal frameworks. The two parties also reviewed issues related to international trade, for example implementing the provisions of the World Trade Organisation.

In conclusion, the Minister of State for Financial Affairs stressed the importance of continuing cooperation with the EU in all fields, specifically issues related to any relevant legislation issued by it.