Abu Dhabi, 23 June 2015

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, recently met with HE Pablo Kang, Australian Ambassador to the UAE, at the Ministry of Finance's (MoF) offices in Abu Dhabi. The objective of the meeting was to discuss the latest developments in economic relations between the UAE and Australia as well as future opportunities for cooperation.

The meeting included the participation of HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations at MoF; Reem Mohamed Al Shamsi, Agreement Negotiator at the International and Regional Financial Relationship Department; Kim Debenham, Deputy Head of Mission from the Australian Embassy in the UAE and Lucy Carlsen, Strategic Officer at the Australian Department of Foreign Affairs and Trade.

HE Obaid Humaid Al Tayer highlighted the UAE's most prominent achievements in economic development and growth over the last period while emphasizing the country's ability to attract foreign investment. The two parties also exchanged views on key economic and trade indicators between the UAE and Australia as well as the latest developments related to negotiations on joint agreements.

During the meeting, HE Al Tayer stressed the need to conclude negotiations on a double taxation avoidance agreement between the two countries. This agreement will play a key role in promoting economic openness by liberalising the movement of production components, increasing investment opportunities and trade development, facilitating bilateral economic relations, developing partnership frameworks, creating an investment environment for sovereign wealth funds, in addition to encouraging private sector investment in both countries.

HE Pablo Kang, Australian Ambassador handed HE Obaid Humaid Al Tayer a letter of appreciation from Andrew Robb, Australian Minister of Trade and Investment, who visited the UAE in April 2015 with Australian Treasurer Joe Hockey.

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© Press Release 2015