First UAE-Chile Investment Forum opened
abu dhabi — UAE Minister of Economy Sultan bin Saeed Al Mansouri and Chile Minister of Economy, Development and Tourism Felix De Vicente Mingo have discussed ways of strengthening investment relations between the two countries and enhancing promising opportunities in their sectors.
Al Mansouri, who led a large UAE business delegation to Santiago, and Mingo opened the first UAEChile Investment Forum, in which Chile proposed the establishment of a joint business council.
The two sides agreed to continue contact to sign an agreement on the proposed council in the near future.
At the forum, Al Mansouri highlighted the UAE’s strong standing as a major economic player in the Middle East, thanks to its wise economic policies, favourable investment environment, modern legislations that protect foreign investments as well as world-class infrastructure including state-ofthe-art airports, seaports, telecommunications, logistics services and more than 30 free zones that allow full foreign ownership of investment projects and 100 per cent repatriation of profits.
He also highlighted the geographical location of the UAE as a gateway between the East and the West and as a haven and a regional hub for the world’s largest corporations that seek to expand into Middle East, Asia and Africa.
Al Mansouri pointed out that the UAE has moved into the ranks of the 20 most-productive global economies for the first time, citing the Global Competitiveness Report issued by the World Economic Forum for 2013-14, in which the UAE advanced five positions in the total competitiveness of its economy in one year from 25th last year to the 19th this year.
Emphasising the need for increasing trade with Chile, Al Mansouri invited Chilean businesses and investors to explore the promising investment potentials of the UAE.
For his part Mingo, emphasised the importance of promoting economic relations with the UAE.
Earlier, Al Mansouri met Chilean Minister of Foreign Affairs Alfredo Moreno Charme in Santiago where the UAE delegation was accorded a special welcome. —