Mohammad: US sanctions on Iran will not impact UAE
WE STAND BY SAUDI ARABIA THROUGH THICK AND THIN, VICE-PRESIDENT SAYS
The reintroduction of US sanctions on Iran will not impact the UAE economy nor will it stop investment or development in the region, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has said.
“Tensions in our region are nothing new. It is practically a constant that has existed for 40 years. Despite this, the cycle of construction and development has not stopped and neither have the investments,” he said in an interview with Saudi newspaper Asharq Al Awsat, published yesterday. He did note there was cause for concern, which investors would consider. “Tensions prompt investor concern, but they do not stop their work or their search for opportunities.”
He said that Dubai’s economy is being affected by global changes, but that is because the emirate has an open economy. “I see the impact as part of the vision of the future and expertise derived from constant facts,” he said. “Economy moves in rising and falling cycles. The Dubai and UAE economy has not witnessed negative growth in six years. It has recorded positive growth that has always been higher than global rates.”
He added that the country’s plan for 2021 will be achieved in time. Shaikh Mohammad also said: “The UAE and Dubai were not affected by American protectionism. The measures do, however, pose major challenges to the global trade system and globalisation. The irony is that the US was a main player in pushing for globalisation. It is now seeking to introduce radical changes to the rules of international trade.” While the US is a major player in global trade, there are other “important, influential and rising” players.
Regionally, the Vice-President stressed that the UAE “always stands by Saudi Arabia, through thick and thin. Our bilateral ties are bolstered through the SaudiEmirati Coordination Council”.
There is no investment without risk. As they say: The greater the risk, the greater the rewards.”
Shaikh Mohammad
Vision 2030 demands our brothers to work around the clock to implement its projects and programmes. They are capable of accomplishing it and they know that the goals of the plan are not a choice.” His Highness Shaikh Mohammad Bin Rashid Al Maktoum
The UAE will always stand by Saudi Arabia, through thick and thin, said His Highness Shaikh Mohammad Bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, in an interview published ysterday. In an interview with Asharq Al Awsat, Shaikh Mohammad said the UAE’s bilateral ties with Saudi Arabia are bolstered through the SaudiEmirati Coordination Council.
“The council set a joint vision for a complimentary strategy between the two countries, on the economic, development and military levels, through 44 joint strategic projects. We look forward to building a complementary model that supports the GCC and joint Arab work,” said Shaikh Mohammad. He added that the kingdom’s massive development and modernisation operation under Vision 2030 is a cause for optimism and hope.
“Vision 2030 demands our brothers to work around the clock to implement its projects and programmes. They are capable of accomplishing it and they know that the goals of the plan are not a choice. They are necessary to confront current and future challenges,” the UAE VicePresident said.
He noted that the Saudi Arabia is a young society with more than half the population under the age of 30, who are in need of job opportunities. Voicing his support for Saudi Crown Prince Mohammad Bin Salman’s belief that the Middle East can become the new Europe if its countries adopted modernity and development he said: “I will be honest with you, for over 20 years I have warned of the severity of the situation and the need for change and modernisation, but some officials were shocked at the thought that problems in their countries could escalate. Indeed, they escalated until they reached a dead end. This culminated in the developments of the Arab Spring, which was falsely called so.”
He said that he is optimistic about the future. “I always look as the glass as half full. I look forward to filling the empty part. As much as the ‘Arab Fall’ was costly, its lessons were valuable. I believe that the majority of the leaderships in the Arab world have learned these lessons, which are that the winds of reforms, change and modernisation are blowing through the majority of our Arab world. They hold a promise of a real spring,” he said. Speaking about the rapid strides taken by the UAE in development, showing the way for other countries in the region he said: “In the UAE and Dubai, we have to boldly develop our reality from within and with all of its components. We had to change and modernise its ways of thinking and working. We had to build mechanisms that can meet the challenge of advancement in economy, culture and technology. We have achieved tasks that we are proud of and recorded great successes. We have set in place the foundations for sustainability and we still have a lot of work ahead of us. Life does not stop and human advancement knows no boundaries.”
Referring to various conflicts and crises that have plagued the region over the last two decades he said that crises are challenges that carry both risks and opportunities. “If crises surprise you, then you are vulnerable to dangers. If you are prepared for them, then you have the chance to seize opportunities. We believe that prevention is the best solution. We have to make sure to protect our country and people from the dangers of crises. We are also prepared to tackle their impact if need be,” said Shaikh Mohammad.