By Jamal Al Majaida Milano, Sept.11th,2007 (WAM) -- Abu Dhabi has managedto attract more foreign investment,forge constructive partnerships between the pubic and private sectors and establish strategic partnerships with many Arab and foreign countries, a senior Abu Dhabi official has disclosed.

''The next period will see the launch of a flurry of economic and industrial partnership projects with Italy.............n joint economic council similar to the recently formed one between Abu Dhabi and Singapore is expected to see light soon with the aim of boosting bilateral cooperation in areas of investment, tourism, economy, trade, education and health, Khaldoun Al Mubarak, Chairmanof the Executive Authority in the Emirate of Abu Dhabi, told reporters at the Castillo Palace as part of an audience hosted by Mubadala Development Company in conjunction with Etihad Airways, Al Dar Properties and Abu Dhabi Tourism Authority. The gathering was held to promote Abu Dhabi's tourist and economic achievementsand landmarks.

He said the presence of a galaxy of businessmen, industrialists and media men at this historic site underlines the high-profile Abu Dhabi maintains at the Italian economic scene.

He added the recently launch of Etihad Airways' flight to Milanowould further enhance the trade and economic partnership and cultural and civilisational exchange between the UAE and Italy.

''Etihad Airways is playing a key role in the economic growthof Abu Dhabi and the UAE. The airline has given a big boost to Abu Dhabi's tourism strategy at regional and international arenas and allowed more trade and tourism exchange and visits by businessmen to the UAE,''he remarked.

'' Success of Etihad Airways is a success to our long-term plans.....after four years of its launch, the airline boasts of operating flightsto 45 destinations to various parts of the world, an unprecedentedrecord achievement in a short span of time that no airline can make,''hesaid.

Etihad Airways, he noted, has established Abu Dhabi as a meeting point between East and West mainly from Europeto East Asia,India and Australia.

Replying to a question about UAE-Italy economicrelations, Al Mubarak said '' They are progressing excellently driven by the major partnerships with the Italiansin the sectors o tourism, hotels, motor, sports, culture, furniture,construction and education. He indicated that the overwhelming presence of top Italian officials in this gala ''is a testimonyof the extent of the deep bilateral bonds in tourism and economy.

Both sides, he continued, share many common attributesas they believe in free trade and enjoy dynamic economy. They also havelaid new benchmarks for global investment in the public and privatesectors.

''Abu Dhabi is striving to diversify its economy through attracting major world companies to invest in its economies and creating a competitive corporate business environment for would-be investors,''he indicated.

Al Mubarak invited Italian businessmen to tap the huge investmentopportunities offered by Abu Dhabi.

to ensure the competitive edge of the emirate, he said ''The objective of the Government of Abu Dhabi is to maintain this competitive edge through upgrading government performance in the periodto come.

''We should clearly point out to the new situation in Abu Dhabi...

there is a high demand for houses, flats, offices and hotel roomsthat is substantially outpacing the supply and this what generated theinflation which some people speak about, but the governmentis openly subsidizing national companies and urgently in order attract more projects into the local market which is thirst for venturesin all sectors,he maintained.

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