Page 114 - MOE ENGLISH PR - APRIL 2024

5/6/24, 9:03 AM Latest News
Abu Dhabi, 30 April 2024:

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Dr. Kao Kim

Horn, Secretary General of the Association of Southeast Asian Nations (ASEAN), to discuss
the development of the UAE-ASEAN economic partnership in fast-growing sectors,

technology, entrepreneurship, new economy, tourism, and circular economy. The meeting

took place on the sidelines of H.E.'s participation in the World Economic Forum, which was

held in Riyadh recently.

H.E. Bin Touq highlighted that the UAE and ASEAN states share robust strategic relations,

which continue to grow in various fields, especially economic and investment. He pointed out
the UAE's desire, under the guidance of its wise leadership, to continue building productive

partnerships with ASEAN countries, especially as the two sides share common future visions

in expanding to new economic sectors, stimulating capital flows and promoting dialogue at the

private sector level.

The Minister of Economy said: "We see the ASEAN private sector as a key player in the

UAE's business and economic environment. Therefore, the meeting served as an important
platform for exchanging views and exploring opportunities for cooperation in priority sectors,

supporting the creation of new pathways for stronger economic ties."

The meeting discussed ways to enhance cooperation in support of sustainable tourism

development, as well as opportunities and potential in different sectors and tourism activities

on both markets, and the importance of joint action in increasing mutual tourism flows and the
number of flights between the two sides.

H.E. Bin Touq highlighted the UAE’s efforts in supporting the Belt and Road Initiative since its

launch in 2013 through the country’s development potential, strategic position linking the East

and the West and a USD 10 billion investment into the joint UAE-Chinese investment fund to

support the initiative's projects in East Africa. It has also signed 13 MoUs with China in 2018

for multiple investments in the UAE, enhancing the prospects for economic cooperation

between the UAE and ASEAN countries, especially as it shares its land borders with China
and many of the initiative’s member states.

Furthermore, H.E. Bin Touq briefed the ASEAN Secretary-General on the economic

developments in the UAE business environment, including the amendments made to the

Commercial Companies Law to allow 100% foreign ownership, the modernization of visa and

residency systems and the introduction of self-employment and green residency pathways to

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