Page 357 - MOE ENGLISH PR REPORT - AUGUST 2024

building a more sustainable and productive partnership with the UAE’s private sector,” Bin Touq
added.

UAE Chambers and Lithuanian Industrialists Union partner
On the sidelines of the JEC, Al Marri witnessed the signing of a memorandum of understanding
(MoU) between the Federation of UAE Chambers and the Lithuanian Industrialists Union. The
agreement seeks to enhance economic cooperation between the two sides in the fields of
industry, trade, investment and technology. In addition, it facilitates the exchange of expertise on
policies related to increasing trade exchanges between the two countries.

H.E. Humaid Mohammed bin Salem, Secretary General of the Federation of UAE Chambers,
and H.E. Raminta Radaviči, Director General of the Lithuanian Industrialists Union, signed the
agreement.

UAE-Lithuania Business Forum

During the visit, the UAE also held the UAE-Lithuania Business Forum to highlight key
economic sectors for investment in both countries and foster dialogue between their business
communities. In his speech at the forum, Bin Touq elaborated on the promising opportunities
available in the UAE’s economic sectors and the unique advantages the country’s competitive
business environment offer.

The UAE has adopted flexible economic legislations and policies to support the growth of large
companies and SMEs alike. These include full foreign ownership of companies and a
competitive environment for trade through modern technology. Due to these efforts, the UAE

https://economymiddleeast.com/news/uae-lithuania-hold-inaugural-joint-economic-committee-
to-promote-cooperation-in-key-sectors/