The UAE and Qatar are discussing developing their economic partnership

Abdullah bin Touq Al Marri, Minister of Economy, discussed with Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Trade and Industry of the State of Qatar, the development of economic partnership and the promotion of cooperation opportunities in sectors of mutual interest, especially the new economy, entrepreneurship, manufacturing industries, circular economy, agriculture, energy and tourism. And flying.

Bin Touq stressed, during a meeting held by the two sides at the headquarters of the Ministry of Economy in Dubai, that historical ties and strong fraternal relations between the UAE and Qatar have established cooperation that has been reflected in promoting development and prosperity in many sectors in the two brotherly countries, especially the economic and investment fields, noting that cooperation The growing growth between the two major economies enhances the economic gains of the two countries, achieves progress and prosperity for their people, and supports comprehensive economic development at the region level.

He said that the two countries have visions and commonalities on diversifying their economies, reducing dependence on oil resources, increasing investment in new economy sectors, and accelerating the shift towards sustainable and competitive economic models based on knowledge and innovation, which would create more opportunities for economic and investment cooperation at the level of the governmental and private sectors in the two countries. And support building a more advanced future for their economy, in light of the two countries’ national strategies, especially the “We are the Emirates 2031” vision and the “Qatar National Vision 2030.”

He added that today’s meeting with the Qatari Minister constitutes a vital opportunity to discuss ways to build new partnerships in diverse and sustainable economic sectors, in a way that supports the levels of joint economic relations and pushes them towards greater prosperity and competitiveness, and in a way that contributes to opening new horizons of cooperation between the Emirati and Qatari business communities.

The Emirati and Qatari sides discussed the importance of continuing joint efforts to provide support to business owners and exporters in the markets of the two countries for the purpose of facilitating and increasing the exchange of goods and services and working to diversify them, as well as opening new channels of communication between investors, businessmen and companies on both sides, to explore economic and investment opportunities that can be seized in the sectors. Vitality in the markets of the two countries.

In this direction, Bin Touq shed light on the most prominent economic legislative developments in the UAE, including the issuance and updating of more than 30 legislation and decisions over the past four years, such as the issuance of laws for e-commerce, arbitration and commercial transactions, family companies and cooperatives, as well as allowing 100% foreign ownership of companies. 100%. He also touched on the components of the UAE economy, such as a competitive business environment for establishing economic and commercial activities, and the momentum of opportunities in the new economy sectors in the UAE markets, such as financial technology and artificial intelligence. Entrepreneurship, advanced manufacturing, food and clean energy.

Bin Touq invited the Qatari side to attend and participate in the fourth edition of Investopia, scheduled to be held during February 2025, which will constitute a great and important opportunity to discuss ways to benefit from the promising capabilities that the UAE offers to investors from all over the world, and to develop aspects of cooperation in the economic sectors. different.