Ministry of Economy seeks stronger ties with Turkey, Brazil & El Salvador on sidelines of Global Manufacturing and Industrialisation Summit

The Ministry of Economy discussed its desire to boost industrial, investment and trade cooperation with Turkey, Brazil and El Salvador on the sidelines of the Global Manufacturing and Industrialisation Summit currently being held in Abu Dhabi. H.E. Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry met with H.E. Dr. Hassan Ali Silik, Deputy Minister of Science, Industry and Technology of Turkey and emphasized the UAE’s eagerness to enhance bilateral cooperation with the Republic of Turkey. He was accompanied by H.E. Abdullah Al Shamsi, Assistant Undersecretary for Industry, and H.E. Juma Al Kait, Assistant Undersecretary for Foreign Trade Affairs.

During the meeting, H.E. Al Saleh expressed his pleasure at the strong ties between the UAE and Turkey which he said is based on mutual understanding and various common interests, especially at the economic, commercial and investment levels. He underscored the importance of strengthening their partnerships in the areas of innovation and industry through the adoption of advanced technologies which contribute to the achievement of their countries’ respective goals.

He further noted how trade figures reflect the robust economic ties between the two countries, saying that the UAE is Turkey's top trading partner in the region, and that Turkey is the sixth largest importer of the UAE.  He added that their bilateral non-oil trade stood at USD 9.1 billion by the end of 2016, with mutual investments focused on the vital sectors of tourism and hospitality, food, energy, telecommunications and information technology.

H.E. Al Saleh also met with H.E. Merlin Alijandrana Barrera, Vice Minister of Trade and Industry of El Salvador, to talk about opportunities for enhancing economic, trade and investment relations. The two touched on possible partnerships in tourism and energy between the UAE and El Salvador.

The Undersecretary met as well with H.E. Igor Kalvit, Undersecretary of the Ministry of Industry and Foreign Trade of Brazil, along with H.E. Al Shamsi. He shared that non-oil trade between the UAE and Brazil exceeded USD 2.5 billion in 2016 in light of the growing number of Brazilian companies operating in the country. He noted the presence of around 210 Brazilian brands in the UAE and the availability of several promising investment opportunities for their countries.

Finally, H.E. Al Saleh and H.E. Al Kait had a session with Ziyong Meng, Chairman of the Executive Board of the Chinese Federation of Industrial Economies, to open up possibilities for enhancing cooperation in the industrial sector. The parties discussed how China’s experiences and cutting-edge technologies could help advance the UAE’s development and further strengthen its industrial sector.