The 3rd session of the UAE-Spain Joint Economic Committee meetings in Granada, concluded yesterday under the co-chairmanship of Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Luis de Guindos Jurado, Spanish Minister of Economy and Competitiveness.
The two sides signed a Memorandum of Understanding (MoU), which covered a number of issues of joint interest. This new year's edition represented important step in the field of enhancing the distinguished economic and trade ties between the two countries.
The parties exchanged views on strengthening economic relations, improving trade and enhancing investment cooperation in both countries.
The two sides also expressed satisfaction on the increase in the number of Spanish trade missions and companies established in the UAE between 2009 and 2014, which is the same period that saw the rise of mutual trade between the two countries that stood at 1 - 1.9 billion euros.
Al Mansouri said that in 2010 the UAE-Spain Joint Committee was established as a strategic step towards enhancing economic cooperation between the UAE and Spain.
He added that the establishment of the Committee embodies a new era of growth and partnership that had started between the two sides. He also reiterated that since then, the Joint Committee has supported the efforts to boost trade and economic ties between the two sides.
He added, "The UAE has taken great strides in the field of excellence and succeeded in a record time to make its Union one the strongest competitors to major countries according to various economic and developmental indexes."
'I am proud that the UAE has become one of the major hubs for export and re-export in the Middle East, as a result of continuous investment in the infrastructure field. The UAE successfully exploited the opportunity and took advantage of its geographical location to become an international centre for logistic services and tourism," he added.
The UAE Minister of Economy referred to the existing bilateral relations between the two sides, highlighting the positive impact of the visit of Spain's former king, Juan Carlos, to Abu Dhabi, leading a high-profile Spanish delegation in April 2014.