UAE Ambassador to the Republic of Armenia Dr. Nariman Al Mulla stressed the importance of strong relations between the two countries, which are experiencing a new historical era, emphasizing the desire of both countries to expand historical cooperation for the benefit of both countries and peoples, WAM reports.
Ambassador Dr. Al Mulla said on the 25th anniversary of the establishment of diplomatic relations between the UAE and Armenia, that both countries look forward to strengthening bilateral relations, especially in the economic, commercial, and investment fields.
She highlighted that there are promising prospects between the UAE and Armenia in several sectors, which will positively affect the two nations. These sectors include healthcare, pharmaceutical manufacturing, real estate development, infrastructure and logistics, telecommunications, and agriculture and others.
The Ambassador also called for businesses to benefit from the advantages and incentives provided by the national economy to achieve further growth and expansion in the markets of the UAE and the Middle East and Africa.
She reaffirmed the importance of the COP28 climate conference, which will be hosted in the UAE at Expo City Dubai this November to enhance global climate action, and welcomed Armenia’s participation in this key international conference.
In addition, the volume of non-oil trade volume between the UAE and Armenia reached approximately $1.53 billion in 2022, with a growth rate of 673 percent compared to 2021. The total UAE non-oil exports to Armenia amounted to almost $229 million in 2022, with a growth rate of 245 percent compared to 2021.
In terms of investments, the value of Armenian investments in the UAE reached $32 million by early 2021. Furthermore, UAE investments in Armenia exceeded $35 million in 2021 in sectors such as agriculture and food security, real estate, and others.
Source : NewsAM