ABU DHABI, (Pakistan Point News - 25th Oct, 2023) The UAE and the Republic of Kosovo held the first session in a series of meetings from their Joint Economic Committee, aiming to enhance cooperation and partnerships in various sectors of common interest, including trade, industry, agriculture, energy, technology, infrastructure, tourism, aviation, entrepreneurship, small and medium-sized enterprises, innovation, and logistics.
The Committee also works toward reinforcing bilateral trade relations.
Ahmed Ali Al Sayegh, Minister of State, and Rozeta Hajdari, Minister of Industry, Entrepreneurship and Trade in Kosovo, co-chaired the meetings which were held in accordance with the economic, commercial, and technical collaboration agreement signed by the two countries.
Al Sayegh stressed that the UAE and Kosovo are connected by long-standing relations based on cooperation in all fields, and highlighted the importance of strengthening ties and promoting further progress in a way that benefits the people of the two countries to achieve stability and prosperity.
“The first session of the Committee set a new cornerstone for the development of trade relations, and the exploring of new opportunities in the UAE and Kosovo. It also promotescommunication between business communities in the two countries, and contributes to expanding cooperation across the various economic activities that support the ‘We Are the UAE 2031’ strategy," Al Sayegh added.
For her part, Hajdari highlighted that the meeting represents a significant step in strengthening economic and trade relations between the two countries for the coming period. She also reiterated the importance of exchanging knowledge and expertise in areas of common interest, and encouraging investment in the sectors of technology, renewable energy, transport, transformative manufacturing, and tourism, that promotes strengthening sustainable economic growth between the two countries.
The Committee agreed to form technical working groups to follow up on the implementation of all its outputs, which will shape future economic and trade cooperation between the two countries.
During the meetings, the two sides discussed new mechanisms to increase trade as well as the role of the private sector in promoting economic cooperation, providing support to exporters and importers to facilitate the growing exchange of goods and services and their diversification, and launching new channels of communication between business communities.
Notably, non-oil foreign trade between the two countries in the first half of 2023 increased to AED 59.4 million (US$ 16.2 million), with the total trade volume reaching AED 21.2 million (US$ 5.8 million) in 2022.
Furthermore, the two sides expressed their keenness to enhance cooperation and investments in the sectors of traditional and renewable energy, in addition to exploring collaboration to support the growth of SMEs in both countries, enhancing cooperation in the field of research and development and institutional innovation, and exchanging knowledge on advanced agricultural practices and technologies, as well as managing water resources.
