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Minister Faurie visits United Arab Emirates and signs agreement to promote investment

16 April 2018
Información para la Prensa N°: 
153/18

Today, as part of a working visit to the United Arab Emirates, Foreign Minister Jorge Faurie met with his Emirati counterpart, Sheikh Abdullah bin Zayed Al Nahyan, with whom he signed an Agreement for the Reciprocal Promotion and Protection of Investments and discussed issues of trade and bilateral cooperation in various areas.

During the meeting, both ministers agreed to broaden and strengthen bilateral cooperation relations, especially in the health, nuclear, space, cultural, scientific, technical and renewable energy fields.
In addition, they agreed to continue working in order to expand and diversify bilateral trade, which has yet to reach its full potential. "Argentina is a global leader in the food sector and can significantly contribute to food security policies in the region with its products and experience," Minister Faurie stated. Argentina has a trade surplus with the United Arab Emirates (USD 169 million in 2017) and its main exports include food products, especially cereals and oilseeds.

The Argentine and Emirate Foreign Ministers noted that the relationship between both countries is "excellent" and has been strengthened over the last two years. "Argentina sees the UAE as a key partner in the Middle East," the Argentine Foreign Minister added.

After underscoring the new business and trade environment in Argentina, both Foreign Ministers signed the Agreement for the Reciprocal Promotion and Protection of Investments, on which negotiations concluded last March. Throughout the day, Minister Faurie also held meetings with authorities from the Abu Dhabi Fund for Development (ADFD), the Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company (MIC).

Emirati investment funds currently support the funding of hydropower and infrastructure projects in the provinces of Neuquén, Santa Fe and Córdoba, and are considering investment opportunities in the agro-industrial sector.

Furthermore, Ministers Abdullah bin Zayed and Faurie addressed issues on the regional and global agenda, expressed their concern over the critical situation in Syria and urged the international community to engage in dialogue in order to maintain peace and security.

The Emirati Foreign Minister has visited Argentina on five occasions; on his last visit, held in March 2017 alongside Sheikh Hamed Bin Zayed Al Nahyan (Managing Director of the Abu Dhabi Investment Authority), he held meetings with President Mauricio Macri and Vice President Gabriela Michetti, at which they signed agreements on the mutual waiver of visas for holders of diplomatic, official, special and ordinary passports, and also convened the first Joint Committee between both countries. President Macri visited Dubai in May 2017, where he held a meeting with Sheikh Mohammad Bin Rashed Al Maktoum (Vice President, Prime Minister and Ruler of the Emirate of Dubai).

Press Release No. 153/18