The Sharjah Chamber of Commerce and Industry (SCCI) hosted a meeting between the Federation of UAE Chambers of Commerce and Industry, which was headed by HE Abdullah Sultan Al Owais, Deputy Chairman of the UAE Federation of Chambers of Commerce and Industry and Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), and a high-level Moldovan delegation, which was headed by H.E. Chiril Gaburici, the country’s Minister of Economy and Infrastructure.
The two sides explored various means of developing and strengthening economic and trade relations between the UAE and Moldova. The meeting was attended by Khalid Bin Butti Al Hajri, Director-General of the SCCI; Ahmed Jamea Al Qaisi, Director of Economic Management at the Federation of UAE Chambers of Commerce and Industry; and a number of board members from the SCCI.
The meeting comes as part of an official visit to the UAE by the Moldovan delegation to highlight new areas of cooperation between both countries, especially since the UAE contains many investment opportunities in various sectors such as metals, pharmaceuticals, renewable energy, tourism, and financial services among others.
The two sides agreed to exchange official visits, hold economic events and exhibitions, facilitate procedures for investors in both countries, provide incentives for Emirati companies to enter the Moldovan market, work to provide the private sector with vital information such as rules, legislation and investment guarantees in both countries, and work to benefit from the attractive investment environment in Moldova in specific sectors such as Infrastructure, agriculture, food industries and information and communication technologies.
HE Abdullah Sultan Al Owais, Deputy Chairman of the UAE Federation of Chambers of Commerce and Industry and Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), stated that the federation is keen to develop its economic relations with Moldova. He added that the federation will work to motivate the UAE business community to invest in promising sectors in Moldova.
Al Owais then reviewed the most important investment opportunities that are available in the UAE and stated that the federation would welcome the organization of an exhibition that showcases the various products and services offered by Moldovan companies in the UAE. He added that Expo Centre Sharjah is ready to organize such an event and to provide the facilities that are needed to help it succeed.
H.E. Chiril Gaburici, the Minister of Economy and Infrastructure in Moldova, expressed his admiration for the cultural evolution that the UAE has witnessed in all fields. He praised the country’s economic expertise and mentioned the possibility of benefitting from its best practices in this field. He also stated that the meeting represents a chance for the delegation to promote the various investment opportunities that are available in Moldova.
Gaburici stressed the importance of establishing joint projects, exchanging delegation visits, and working together to take advantage of the opportunities available to the business communities in both countries. He stated that Moldova will participate in Expo 2020, which represent an opportunity to promote and enhance the cooperation between the UAE and Moldova.
Non-oil trade between the UAE and Moldova amounted to $8.2 million in 2017 with non-oil exports increased by 33.7% compared to the previous year. The two countries are looking forward to advance economic and trade cooperation, which has been reflected in the high-profile visits between them and the signing of several specific cooperation agreements geared towards the development of more fruitful partnerships, such as the Air Services Agreement between the UAE and Moldova.
The UAE and Moldova signed an agreement on economic and technical cooperation at the beginning of the year, and work is currently underway to establish a Moldovan-UAE joint economic commission as part of the agreement to help boost bilateral economic relations and to act as a platform to discuss the opportunities and challenges that face investors.