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UAE Expects 4% Growth in 2017 | ASHARQ AL-AWSAT English Archive 2005 -2017
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United Arab Emirates’ Sultan Bin Saeed Al Mansouri, Minister of Economy attends the opening meeting of the Arab Summit in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 28, 2015. Arab League heads of state are holding a two-day summit to discuss a range of conflicts in the region. REUTERS/Amr Abdallah Dalsh

Abu Dhabi – Eng. Sultan bin Saeed Al Mansouri, UAE’s minister of Economy, has expected that the national economy will achieve a growth rate of between 3.5 to 4 percent in 2017, amid an accelerated activity in vital economic sectors and growth of investment attractiveness, which will lead to many achievements in national economic indicators.

Al Mansouri said that continuing to execute projects, which were announced as part of the UAE Vision 2021, would maintain the strength of the national economy growth. He added that the oil sector contributes around 30 percent of the country’s total local production, as it witnesses a current price stabilisation, while expecting a growth in local non-oil products by 3.7 percent this year.

In his statement during the UAE-Jordanian Investment Forum launched on Monday in Abu Dhabi, Al Mansouri said that this forum represents progress in both countries economic ties. He praised the historic relations that go beyond joint interests to brotherhood and friendship which have been linking the two countries for the past years.

The UAE-Jordanian Investment Forum focused on means to motivate and facilitate the investment flow between both countries and to ink investment partnership in vital sectors. The forum featured presentations on opportunities, investment legislations, investment climate, promising sectors, facilitations, and available incentives in Jordan.

Adnan Abu Al Ragheb, chairman of the Jordanian Chamber of Industry, said that the meeting presented an opportunity for businessmen from both countries to meet and communicate.

He added that according to international trade statistics, the level of trade between Jordan and the UAE has reached a high value during the first 11 months of 2016, while Jordanian exports to the UAE – including vegetation, chemical products, appliances, and electronics – stood at USD357 million during the same period. Jordanian imports from the UAE also touched around USD747 million in precious stones, metals, and food products.

Abu Al Ragheb also looked forward to joint work between both countries, to increase the size of trade, diversify exports, and to utilize available opportunities and capabilities for encouraging exchange of investment, especially in the field of industry.

Bilateral meetings were held among Emirati and Jordanian representatives from sectors of telecommunication, IT, tourism and mainly medical tourism, hotels, healthcare, industry, and renewable energy.

Reed Hamad Al Sheryani Al Dhaheri, member of the Abu Dhabi Chamber of Commerce and Industry, the chairwoman of the Commerce Committee in the Chamber, stressed the importance of strengthening economic ties between the UAE and Jordan. She added that co-operation in the economic sectors reflects the depth of these exceptional ties.