Lubna sees greater UAE-Greece cooperation in shipping, logistics

ABU DHABI — Shaikha Lubna Al Qassimi, Minister of Economy, yesterday urged for greater cooperation between the UAE and Greece in the areas of ports, shipping and logistics.

By A Staff Reporter

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Published: Thu 15 Feb 2007, 11:19 PM

Last updated: Sat 4 Apr 2015, 9:55 PM

In a speech read out on her behalf by Mohamed A. bin Abdul Aziz, under-secretary for planning, Ministry of Economy, at the Greece Business Forum, organised by the Hellenic Embassy and Abu Dhabi Chamber of Commerce and Industry yesterday, she said: "The UAE economy is growing strongly, as growth has been 23 per cent in nominal terms for 2006 and GDP was Dh599 billion for 2006.

"This is another record year for UAE oil prices have been reaching record levels and are likely to remain there or even rise further. We do not think that the current crude oil prices will seriously affect world economic growth, bearing in mind there has been global economic growth of 5.2 per cent in 2004 and 4.4 per cent in 2005. World economic growth currently is being driven by less oil dependent sectors such as services, technology, and tourism," the minister remarked in her speech.

The minister said that there are many areas of cooperation that both the nations could explore. She said that the UAE has world-class ports and free-port areas and the nation's re-exports, storage and packing sectors are growing at a rapid pace.

It is time for both countries to focus on port and shipping industry as a target area to enhance cooperation.

The minister said that to truly develop the business investment opportunities between the UAE and Greece, "we have to consider the current level of activity and the potential for mutual benefit."

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