Abu Dhabi: Non-oil bilateral trade between the UAE and Spain is up 26.3 per cent from $1.9 billion (Dh6.97 billion) in 2011 to $2.4 billion (Dh8.8 billion) in 2016, according to Economy Minister Sultan Bin Saeed Al Mansouri.
Al Mansouri was speaking at the fourth session of the UAE-Spain Joint Economic Committee held in Dubai on Monday.
Spain’s direct investments to the UAE also grew, with 45 commercial companies, 112 commercial agencies and 2,456 trademarks from Spain registered locally as of 2015.
“There is still huge room for growth, and given the ongoing major shifts in the global economy, we would mutually benefit from exploring new avenues of cooperation especially in areas prioritised by our respective national development agendas,” Al Mansouri said.
He further noted that the UAE looks forward to exchanging experiences and knowledge and activating cooperation with Spain in several areas of common interest, particularly those that are in line with UAE Vision 2021 and those that reflect Spain’s leading developmental experiences, especially in the fields of innovation, SMEs, entrepreneurship, and scientific research.
Luis de Guindos Jurado, Spain’s Minister of Economy, Industry and Competitiveness, also took part in the meeting.
The two countries also discussed coordination on Halal standards in the country to ensure that Halal certifications issued in Spain comply with relevant UAE regulations.