Ministry of Economy, US delegation review national economic indicators

ABU DHABI, Juma Al Kait, Assistant Under-Secretary for Foreign Trade Affairs at the Ministry of Economy, has received a delegation of senior officials from the United States Centre for Strategic and International Studies, CSIS.

During the meeting, which was held at the ministry’s headquarters in Abu Dhabi, the delegation was briefed on the UAE’s key economic indicators and its business and investment environment. It also viewed a presentation on the UAE’s relations with regional and international markets, which focused on the Asian markets.

The delegation included Jon Alterman, Director of the CSIS Middle East Programme, and over 10 CSIS officials who specialise in the economic and commercial development of the East Asia region.

During the meeting, a presentation was made on the performance of the UAE’s national economy, its growth figures, and several vital indicators related to its foreign trade sector. The meeting also focussed on UAE-Asian relations that are witnessing steady growth, in light of the country’s numerous efforts to strengthen its economic, commercial and investment ties with promising Asian markets.

Al Kait stated that the country’s economic model, which is based on openness, diversity and sustainability, has helped maintain positive growth, despite the various regional and global economic challenges.

He added that the UAE is one of the few oil-based economies that succeeded in diversifying its income sources and reducing the oil sector’s share in its GDP to less than 30 percent. It also has an ambitious vision to move to a post-oil economy, through launching many leading initiatives to develop its industrial and technological capabilities and strengthen knowledge and innovation in the production process, to meet the requirements of comprehensive and sustainable growth, he said in conclusion.

Source: Emirates News Agency