Page 39 - MOE ENGLISH PR REPORT - JUNE 2024

Press Release

that the UAE boasts an extensive network of economic partnerships with numerous countries and
leading international organizations, which has consolidated its position as a prominent hub for
business and FDI.

H.E. added: "The first Joint Economic Committee with the Czech Republic forms part of the UAE’s
efforts to strengthen its position as a global partner and an attractive and influential economic hub
in light of the goals set by the ‘We the UAE 2031’ vision. It marks a key milestone in the
development of the economic relations between the two countries by capitalizing on the promising
opportunities in both markets and enhancing dialogue at the private sector level.”

“The economic relations between the UAE and the Czech Republic continue to grow across various
fields and economic sectors. We look forward to maintaining this momentum, especially since
Czech Republic is an important economic destination for the UAE in the Central European region
with a strong economic and industrial ecosystem that contributes to creating more opportunities
for our private sector," H.E. noted.

UAE’s vision in promoting economic openness to the world

During the meeting, H.E. Bin Touq highlighted the UAE’s vision to promote policies of economic
openness and strengthen partnerships with foreign markets. These efforts are further complemented
by the country’s strategic geographic location and status as a dynamic economic hub that connects
more than 400 cities around the world through one of the largest shipping line networks that spans
88 ports worldwide.

Furthermore, H.E. elaborated on the UAE’s new flexible economic model based on innovation and
knowledge and its importance in promoting the growth and leadership of the national economy at
the regional and global levels. He also highlighted the efforts to enhance the country's attractiveness
to foreign investments in fast-growing economic sectors such as healthcare, finance, hospitality,
logistics and technology, including agricultural technology and e-commerce. The Minister of
Economy added that the UAE’s progress in diversifying its national economy constitutes new
prospects for businesses from around the world to expand their non-oil economic activities in UAE
markets and contribute to sustainable economic development.

Enhanced exchange of visits by trade delegations between the two countries

At the JEC session, the UAE and Czech sides agreed to set up technical task forces to follow up on
the implementation of all of the Committee's outputs, which outline the roadmap for enhanced
economic cooperation between the two countries in the next phase. The two sides also agreed to
organize joint business forums and economic events and facilitate the exchange of visits by trade
delegations to create new opportunities to support the growth of trade relations between the two
countries.

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