Belarus, UAE have great prospects in trade and economic relations

Belarus and the United Arab Emirates (UAE) have big prospects in trade and economic relations, Economy Minister of Belarus Vladimir Zinovsky told media during the Belarusian-UAE business briefing on 24 February, BelTA has learned.

 “Friendly and kind relations established between our countries thanks to the heads of state are still lack a strong economic basis. Suffice it to say that the mutual trade totals nearly $70 million, although it is on a constant increase. The UAE investment in our country makes up about $95 million. However, this is just the beginning and we have great prospects for further growth,” Vladimir Zinovsky said.

 The visit of the delegation of the UAE official and business circles led by Minister of Economy Sultan Bin Saeed Al Mansoori started on 23 February. “We have already held a number of working meetings where we discussed trade and economic cooperation and made an effort to build a road map for further economic cooperation between the two countries,” Vladimir Zinovsky said.

 For his part, Sultan Bin Saeed Al Mansoori expressed confidence that discussions and consultations that were held during the visit would help determine sectors for possible investment cooperation. “The recent three years have seen intensification of contacts at the high level with a view to boost investment and economic cooperation. We would like to concentrate on three main areas: education and technology in education, industry, especially small and medium-sized business, and tourism as the UAE can boast its rich experience in tourism development,” the UAE Minister of Economy stressed.