UAE and Australia strengthen business relations
March 8, 2017 - The UAE and Australia shared an $8 billion two-way trade in goods and services in 2015-16, including a $3 billion trade in services that was 8.7 per cent higher over the year. Australia and Saudi Arabia also recorded a $2.8 billion two way trade and in goods and services.1
Abdullah Al Saleh, Undersecretary for Foreign Trade and Industry at the UAE Ministry of Economy (MOE) recently held a meeting with Australia’s Frances Adamson, Secretary of the Department of Foreign Affairs and Trade (DFAT).
The meeting was held to exchange views and explore ways to further develop economic relations and trade between the two countries and open wider horizons for joint cooperation, focusing on key areas of interest.
The meeting was attended by Juma Mohamed Al Kait, Assistant Undersecretary Foreign Trade Affairs and Sultan Ahmed Darwish, Director of Trade Negotiations and WTO, while Australian counterparts were represented by Arthur Spyrou, Australian Ambassador to the UAE and a number of members from the Australian diplomatic mission.
Al Saleh emphasised the keenness of the UAE to strengthen the framework for mutual cooperation with Australia, which is characterised by an exceptional partnership that defines cooperation between the two countries at all levels.
Australia’s strong capability in health research and mining will be on display in the Middle East and North Africa region during the Australia Unlimited MENA 2017 (AU MENA) trade mission this month. The Australian Trade and Investment Commission (Austrade) will host its annual Australia Unlimited MENA roadshow from 11-19 March and several leading Australian universities, mining, and healthcare companies will be represented.
Speaking to the Gulf Today on Tuesday in Dubai, Australia’s ambassador to the UAE, Arthur Spyrou, said Australia’s mining companies had a lot to offer the Middle East and North Africa (Mena) region in terms of developing a broad range of projects beyond the energy sector.
By 2020, spending in the GCC alone on healthcare will reach $69 billion. It is estimated that by 2020 there will be a shortage of 15,000 physicians and 1.8 million nurses and midwives.
Australia’s dynamic health research expertise will be profiled during the fifth AU MENA campaign using the theme “collaborate to innovate.”
For the first time, Austrade’s mining mission will be a focus of the roadshow, which will promote the bilateral trade, investment and cultural ties that exist between Australia and the MENA region. Major activities will take place in UAE and Saudi Arabia, and there will be associated programs in Kuwait, Qatar, Oman and Egypt.
“Australia is one of the world’s leading mining nations, with a particular expertise in the mining technologies and services that help to keep the world’s mines operational,” Spyrou said. “At a time when many nations in the MENA region are exploring the potential of their mineral deposits this represents a good opportunity to talk about needs and capability.”
Through a series of high profile forums, targeted roundtables, and official meetings, AU MENA will provide introductions between Australian companies and key government officials, industry stakeholders, and projects in UAE, Saudi Arabia, and Egypt.