H.E. Bin Touq & Tunisian Minister of Economy discuss ways to develop economic and trade partnership in the next phase

Meeting agrees on the formation of a joint task force from the two ministries to accelerate joint cooperation efforts

H.E. Abdulla Bin Touq Al Marri, Minister of Economy, held a meeting with H.E. Samir Saied, Minister of Economy and Planning of Tunisia, and his accompanying delegation at the Ministry of Economy headquarters in Dubai. The meeting took place in the presence of H.E. Abdulla Al Saleh, Undersecretary for the Ministry; H.E. Mu'izz bin Abdul Sattar Binameem, Ambassador of Tunisia to the UAE, as well as a number of officials from both countries.

During the meeting, H.E. Bin Touq said that the UAE and the sister Republic of Tunisia have been linked through strong trade, investment, and economic ties since 1974. He noted that the establishment of the bilateral relationship was a milestone, based on mutual respect, continued cooperation and communication, with the unlimited support of the two countries' leaderships to further develop these relations.

Over the past few years, trade volume between the two countries have witnessed tangible growth despite the challenges faced by global trade. The non-oil trade between the two countries grew by 7.4% in 2020 compared to 2019, at a total value of AED 1.2 billion despite the impact of the Covid-19 pandemic on global trade. The first 10 months of last year 2021 recorded a growth of 9% compared to the same period in 2020.

H.E. Bin Touq emphasized the distingusihed nature of the UAE-Tunisian economic cooperation model and its range of cooperation programs and plans in sectors of common interest such as tourism, industry, food security, logistics services, and advanced technology. The Minister explained that the next phase presents further opportunities to establish more diversified partnerships that would serve the common interests and development perspectives of the two countries, particularly in sectors linked to the future economy, such as data technology, the space economy, and the Fourth Industrial Revolution.

Furthermore, H.E. Bin Touq elaborated on the efforts and initiatives adopted by the UAE government during the past phase to build a new, more flexible, and sustainable economic model through policies that promote openness to foreign markets and consolidate the UAE’s position as a preferred destination for invstments and business. In particular, he highlighted the legislative amendments that have allowed 100% ownership of foreign investors, the decriminalization of cheques in accordance with the amendments to the Commercial Transactions law, and other measures to reduce the cost of doing business. He further emphasized the development of new economic partnerships with many promising and emerging markets, which enhances the competitiveness of the economic climate and the incentives and facilities provided by the UAE business environment.

Meanwhile, H.E. Samir Saied, Minister of Economy and Planning of Tunisia, underlined his country's desire to strengthen bilateral cooperation with the UAE in all areas, particularly at the economic and commercial level, and make use of the advantages provided by the country in creating development partnerships between government institutions and the private sector. The Tunisian Minister said: “We seek to achieve economic integration between the two fraternal countries and take advantage of the economic model and the pioneering development experience that the UAE has provided to the world.”

H.E. the Minister of Economy and Planning of Tunisia also praised Expo 2020 and the global platform’s ability to promote discussions, opportunities, and help build bilateral partnerships between countries, as well as developing regional and international partnerships.

In addition, both sides discussed ways to facilitate the entry of investors into the markets of the two countries and the importance of educating the business community on opportunities in sectors of common interest in the areas of infrastructure, construction development, real estate development, and other key economic sectors.

In addition, both sides agreed on the importance of setting up a joint technical task force from both ministries to develop priorities and plans that serve the aspirations of both sides in accelerating joint cooperation efforts and generating opportunities for joint projects at the private sector level.