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From food to banks. UAE minister of foreign trade outlines horizons of cooperation with Belarus
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MINSK, 5 June (BelTA) – UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi spoke to journalists about priority and promising avenues of cooperation between Belarus and the United Arab Emirates (UAE) after a Belarusian-Emirati business roundtable session held as part of the Belagro expo, BelTA has learned.
Thani bin Ahmed Al Zeyoudi emphasized that Belarus has a perfectly developed agribusiness sector and has ensured food security. “I have been impressed by the quality and volumes of manufactured products. Even taking into account the already existing cooperation between our countries, I see huge potential for the further development and deepening of our relations in a productive manner,” he said.
During visits to the Belagro expo and enterprises the Emirati side has already mapped out potential areas of interaction, the minister added. “We have agreed that representatives of our chambers of commerce and industry and distributors will establish direct contacts with Belarusian companies to begin concrete work,” Thani bin Ahmed Al Zeyoudi pointed out.
In his words, the UAE is a net importer of food: about 80% of food products are imported into the country from abroad. “Belarus is already among our key suppliers. In particular, trade in poultry meat, including frozen chicken, is developing actively. It is facilitated by the wide opportunities opening up under the free trade agreement. Dairy products deserve special attention as they are in high demand in our market. Belarus has huge export potential in this regard, especially since both at the expo and during the visits to your enterprises we have been convinced of the high quality of Belarusian milk and milk processing derivatives. It is also important that the UAE acts not only as an end consumer but also as a major hub for the re-export of dairy products to other countries in the region,” the minister emphasized.
Apart from that, during the meeting the parties discussed the possibility of implementing joint investment projects. In particular, this concerns setting up manufacturing facilities for the production of poultry meat and other livestock products directly in the UAE through reliance on Belarusian experience and technologies. “We have agreed that our teams and technical specialists will work out all the details for the subsequent full-scale implementation of these initiatives,” Thani bin Ahmed Al Zeyoudi said.
When asked about priority areas for investment, the minister remarked that the UAE has very good bilateral relations with Belarus. “The volume of non-oil trade over the past year amounted to $320 million, and the entry into force of the free trade agreement opens up new horizons. Emirati business is ready to invest in a wide variety of sectors of the Belarusian economy. First and foremost, these are the banking sector and the production of fertilizers. We are also interested in the services sector, in particular the hotel business and the leisure industry, infrastructure projects as well as healthcare and medical tourism, which play a huge role for Belarus. There are many areas in which we can and want to cooperate fruitfully with your country,” Thani bin Ahmed Al Zeyoudi concluded.
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