UAE and France Seek to Strengthen $8.4 Billion Trade Relationship

UAE and France Seek to Strengthen $8.4 Billion Trade Relationship

The UAE and France are set to engage in high-level discussions aimed at bolstering their robust $8.36 billion trade partnership. Abdullah bin Touq Al Marri, the Minister of Economy, is scheduled to visit France this week to explore opportunities for further economic collaboration between the two nations.

This visit takes place against the backdrop of already strong trade ties between the UAE and France, evident in their non-oil trade statistics. By the end of 2022, the total volume of non-oil foreign trade between the two countries had reached approximately AED 31 billion ($8.4 billion), marking a 22 percent increase from 2021.

The discussions during the visit will primarily focus on strengthening partnerships in various sectors, including:

  1. Trade
  2. Entrepreneurship
  3. Tourism
  4. Aviation
  5. Travel
  6. New and circular economies
  7. Education
  8. Health
  9. Energy
  10. Anti-money laundering
  11. Space
  12. AI (Artificial Intelligence)
  13. Intellectual property

Bin Touq is scheduled to conduct a series of bilateral meetings with French ministers, officials, and representatives from the private sector, with the aim of exploring promising investment opportunities and further enhancing economic and trade relations between the two countries.

Additionally, the Minister will participate in a meeting with the private sector, attended by officials from both sides, to spotlight the attractive investment and commercial prospects offered by the UAE economy. This will emphasize the advantages of the UAE’s business environment for investors and entrepreneurs, particularly as French investments in the UAE continue to grow.

As of July 10, 2023, more than 12,500 French economic licenses are active in the UAE.

During his visit, Bin Touq will also tour some of France’s prominent business incubators and accelerators, including “Station F” and the “Airbus Creative Centre,” to exchange knowledge and best practices in entrepreneurship, startups, technology, and gain insights into their operations.

Furthermore, he will pay a visit to the branch of the First Abu Dhabi Bank in France as part of his engagement with key institutions and stakeholders.

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