| 12 Oct 2009 |
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Al Tayer stresses efforts to revive economy
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Dubai: Obaid Humaid Al Tayer, Minister of State for Financial Affairs, has stressed the importance of consolidating global efforts to overcome the financial slowdown.
Al Tayer cited the role played by the UAE government and the Central BankCentral Bank
in addressing challenges arising from the meltdown through a series of initiatives and policies.
He held a series of bilateral meetings with his counterparts on the sidelines of the IMF and World Bank meetings in Istanbul, in line with the UAE's continuous efforts to enhance relations with nations of the world.
Al Tayer met with the Minister of Finance of Turkey. During this meeting, they discussed ways to strengthen partnership between the two countries in all areas, particularly investment, economy and trade.
The minister explained that this meeting reflects the special relation between the UAE and Turkey. The Turkish minister of finance stressed that his country is keen to strengthen the relationship with the UAE, which is witnessing an economic boom and is considered an attractive business destination for a large number of countries because of its potential, security and stability.
The UAE was keen to strengthen its relations with Pakistan in various fields and for the benefit of the two nations. He also emphasised that the UAE would spare no effort in supporting the people of Pakistan in areas of development and humanitarian aid.
It is also important to know that the UAE's exports to Pakistan increased from Dh900 million in 2007 to Dh1.5 billion in 2008 (7.3 per cent), making the country a crucial trading partner for the UAE. Crude oil, chemicals, rubber, plastics, heavy equipment and engineering products and gold are the most important exports of the UAE to Pakistan.
Cooperation
Al Tayer also met with Dato Seri, Malaysian Minister of Finance. The two parties discussed cooperation between the two countries and ways of enhancing them in the cultural, commercial, investment and Islamic finance areas. In addition, they discussed economic and trade relations and shed light on the development in these areas. Al Tayer and Seri also discussed views concerning many regional and international issues.
During the meeting, the minister expressed the UAE's high regard for Malaysia.The volume of trade between the two countries increased from Dh202 million in 2007 to Dh338 million in 2008, up 67 per cent.
Al Tayer, along with the UAE delegation, held talks with the Minister of Fin-ance of Bangladesh. The UAE exports to Bangladesh increased from Dh79 million in 2007 to Dh107 million last year.
© Gulf News 2009
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