UAE looks to Asia, Middle East for partnership: Minister

April 6th, 2008 - 7:53 pm ICT by admin  

Sharm El Sheikh (Egypt), April 6 (IANS) The United Arab Emirates (UAE) has said it is seeking to strengthen partnership with Asian and Middle East countries, WAM news agency reported Sunday. Minister of State for Foreign Affairs Anwar Mohammed Gargash made this statement in a speech at the Second Asia-Middle East Dialogue (AMED II), currently held in this Egyptian resort on the theme “Partnership in Action Towards a Better Future”.

“The UAE has worked to confront challenges and negative impacts of the change in a way that maintains its peculiarity as a federal country and preserves its religious, social and cultural values,” Gargash told the forum, which is being attended by 48 countries of Asia and Middle East.

The country is seeking to implement a number of laws and measures to curb inflation, to ensure that a proper price monitoring mechanism is in place for consumer protection, and to combat monopoly by creating a special department at the ministry of economy, Gargash said.

“The UAE also endeavoured to draw up a strategy for diversifying economy and enhancing public-private partnership. The strategy’s first achievement was the enactment of the anti-dumping laws and updating the trade agencies law,” the minister said, and added that the strategy helped the country’s economy perform better.

The country’s Gross Domestic Product rose by 16.5 percent in 2007, while non-oil sectors registered a 21 percent growth during the same period, he said.

“The UAE economy ranked the best among Arab economies in terms of attracting foreign investments. It was also voted the 22nd best economy in the world, according to the IMF’s forecasts,” Gargash said stressing his country’s effort in adapting changes in the region successfully.

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