His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and HE Amelia La Korfi, Chairman of the Franco-UAE Parliamentary Friendship Group, discussed aspects of cooperation between the two countries and joint efforts to develop them in different development sectors.
The meeting was attended by HE Abdullah Al Saleh, Undersecretary of Foreign Affairs, HE Juma Al Kait, Deputy Undersecretary of Foreign Trade, Swiss Engineer Azza Suleiman, Member of the Federal National Council, Director of the Investment Department of the Ministry, HE Raja Rabia, Consul General of France in Dubai, and a number of officials from both sides.
The meeting analyzed the latest developments and economic developments on the international and European arena while addressing the strong bilateral relations between the UAE and France at all levels, politically, economically and culturally, especially with two of the most important cultural monuments French of the United Arab Emirates: Sorbonne and Louvre, vital sectors.
The two sides discussed the possibility of developing advanced cooperation models in a number of vital sectors related to innovation, digital transformation and advanced technology, supporting small and medium enterprises and modern and emerging companies.
El Al Mansouri expressed interest in French experience in developing integrated incubators for emerging-based emerging societies and examining the possibility of linking them to innovation incubators across the country to transfer experience and knowledge to this end.
The two sides agreed to study the organization of a business forum or a common platform for SMEs and SMEs to inform the UAE and French entrepreneurs about the opportunities and investment incentives offered in the markets of the two countries and the possibility to establish trade and investment partnerships in the sectors of interest.
In addition, the French side wanted to know in more detail the advanced experience of the UAE in the economic emancipation of women and the development of a balanced model that would ensure equal rights for women and men in different fields of activity.
Sultan bin Saeed Al Mansouri highlighted the importance of bilateral relations between the United Arab Emirates and France, which are translated into many advanced commercial and economic indicators. The total trade of the two countries in 2017 was about $ 7.3 billion, while French investment accounts for 4.5% of GDP in the UAE.
He stressed that the presence of two of the most important French cultural monuments in the UAE, namely the Sorbonne and the Louvre, confirms the advanced relations between the two countries and the common desire to develop the horizons of cooperation and to diversify them in all areas of development and to achieve common interests.
He stressed that the United Arab Emirates has adopted a pioneering model in diversifying its economic base and in increasing the contribution of innovation to its domestic product and in developing its knowledge-based economy capacities, underlining that the United Arab Emirates have established a series of sectors leading the development process in the next phase. In achieving this vision.
He stressed that, given France's rich experience in this regard, there are many areas of cooperation between the two countries, highlighting the importance of efforts to strengthen communication channels between the UAE business community and its French counterpart.
"The United Arab Emirates is a key partner of France in the region," Amelia La Cervi said. "There are many communities that combine the two countries, especially with regard to the development vision aimed at improving entrepreneurial potential and launching the capabilities of emerging companies to push the development wheel.
She explained that France has extensive experience in developing various business incubators that serve vital development sectors such as renewable energy solutions, water treatment, advanced agricultural techniques and others, expressing interest in sharing these experiences with the EAU and developing an interesting cooperation model.
It also praised the UAE's experience of empowering women in economic terms and ensuring a balanced environment and equal opportunities for women in different fields of activity.
The director of the investment department of the ministry, Hind Al-Iwaha, presented a presentation of the most important economic indicators of the UAE, the growth rates and the sectors contributing to GDP, the list of the country's largest trading partners, the FDI trends in the country and the most attractive sectors for investment, business environment and investment climate.
Also, the most important legislation affecting the ease of doing business in the country, in particular the law on foreign direct investment, as well as the incentives and advantages it offers for foreign investment, has been revised.