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Al-Qassimi, Groser explore venues for stronger UAE-New Zealand trade relations
28 April 2010
The UAE Minister of Foreign Trade H.E Sheikha Lubna Al-Qassimi and New Zealander Minister of Trade H.E Home Tim Groser, who is leading the largest ever delegation of senior officials and entrepreneurs to the Middle East, have discussed opportunities to further trade and economic cooperation between their two countries.
The two sides also discussed the latest developments on the GCC-New Zealand Free Trade Agreement and the current global economic landscape.
In remarks at the meeting, Sheikha Lubna said the agreement serves as a suitable context for stronger trade exchange and two way investments between UAE and New Zealand.
She noted that the UAE's non-oil sector accounted for up to 66% of the country's GDP.
The New Zealander minister noted that the UAE would serve as a gateway for New Zealand businesses to further expand in the Middle East and many investors are keen to leverage the growth opportunities offered.
Non-oil trade exchange between the UAE and New Zealand reached US$ 297 million in 2009, up by 13% over the previous year.