Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

UAE, Spain hold talks on boosting economic cooperation

UAE, Spain hold talks on boosting economic cooperation

The UAE’s minister of state for foreign trade recently met with his Spanish governmental counterparts to discuss ways to boost economic cooperation between the two countries and diversify into sectors of common interest.
During Dr. Thani bin Ahmed Al-Zeyoudi’s talks with Xiana Mendez, Spain’s secretary of state for trade, at the Ministry of Industry, Trade and Tourism, both parties agreed to promote investment exchanges in entrepreneurship, tourism, innovation, technology, food security, real estate, logistics, mining, transformative industries, and renewable energy.

The minister noted the historical ties that bound Spain and the UAE together and pointed out that both nations were keen to strengthen working relations regarding their respective economic development visions.

Al-Zeyoudi said: “The bilateral trade figures demonstrate the rapid growth of the UAE-Spain economic relations. Our non-oil trade exchanges exceeded $2.6 billion in 2022. The UAE’s non-oil exports to Spain totalled $360 million last year while re-exports amounted to $181 million.

“We are keen to strengthen our economic and trade partnership with Spain. Spain became the UAE’s third-biggest European partner in 2022 as it received 8 percent of the UAE’s total non-oil exports to EU countries.

“In addition, the Spanish market is a key global market that enjoys special attention from the UAE’s business community. The UAE’s total investments in Spain reached approximately $3.8 billion by the end of 2021, while Spanish foreign direct investment in the UAE totalled $72 million by the end 2020,” he added.

Mendez and Al-Zeyoudi discussed ways to help businesses access opportunities in both markets and the UAE minister highlighted his country’s efforts to transition to a sustainable knowledge economy based on innovation.

Legislative changes in the UAE include the granting of full foreign ownership, improved intellectual property protection, and the launch of an ambitious strategy to attract talented and creative individuals to all sectors, bolstering the nation’s position as a creative and innovative hub.

Al-Zeyoudi added that the UAE market provided opportunities and incentives that could help Spanish companies grow in the UAE and wider Middle East and North Africa region.

And he invited the Spanish private sector to take advantage of the benefits and incentives available in the UAE to promote economic cooperation.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
G7 Leaders Fail to Reach Consensus on Key Global Issues
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Man Convicted of Fraud After Booking Over 120 Free Flights Posing as Flight Attendant
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Hungarian Parliament Approves Citizenship Suspension Law
Prime Minister Orbán Criticizes EU's Ukraine Accession Plans
Hungarian Delicacies Introduced to Japanese Market
Hungary's Industrial Output Rises Amid Battery Sector Slump
President Sulyok Celebrates 15 Years of Hungarian Unity Efforts
Hungary's Szeleczki Shines at World Judo Championships
Visegrád Construction Trends Diverge as Hungary Lags
Hungary Hosts National Quantum Technology Workshop
Hungarian Animation Featured at Annecy Festival
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Austrian School Shooting Leaves Nine Dead in Graz
Bezos's Lavish Venice Wedding Sparks Local Protests
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Germany Moves to Expedite Migrant Deportations
US Urges UK to Raise Defence Spending to 5% of GDP
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
×