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
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
×