| Speech of the H.E. Shaikha Lubna Al-Qasimi |
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| Sunday,April 15,2007 Posted: 17:05 BJT(0905 GMT) Economic & Commercial Counsellor's Office |
Speech of the H.E. Shaikha Lubna Al-Qasimi,
Minister of Economy UAE
Opening Ceremony of International Pavilion
of the 101st Session
of China Import & Export Fair.
15-4-2007
Your Excellencies,
Ladies and gentlemen:
In the beginning, I would like to thank the Ministry of Commerce of P.R.C. for extending me the invitation to be part of this great event. I also wish to thank the Government of Guang dong Province and the China Foreign Trade Center. My presence here today is due to the successful and excellent visit I had last year when I met with H.E. Bo Xilaia as China celebrated the 100th session of the Canton fair.
Indeed, it’s a great privilege to address such a special international businessmen and women representing various companies and meeting in China for the first time as part of the Canton fair. I am pleased to visit again this wonderful and internationally recognized city of Guangzhou.
I am honored to state that the United Arab Emirates is participating in the Canton Fair with the largest delegation of any other country as I preside my country’s delegation of 70 young businessmen and women. Such delegates represent small and medium size local UAE companies and projects. Indeed, the government and private sector of UAE strongly support young men and women entrepreneurs and this large delegation demonstrates such commitment.
Let me take a few minutes to share with you the latest developments in the UAE economy. The UAE has become the single most important trade hob in the region and its economy is the most dynamic and promising. Despite its high income from oil and gas, the UAE government decided many years ago to adopt an economic strategy based on diversified economy. Today, non-oil trade and services represent nearly 62.5% of our GDP. We also play a leading role as an exporting hob in the region.
Non-petroleum trade between UAE and China has witnessed extensive growth in the last five years. In 2006, UAE-China trade surged 31.5 percent to $14.2 billion to make the UAE as the largest trading partner of China in the GCC countries.
We, in the UAE, follow closely the rapid development and advancement of the Chinese economy. Both economies of the UAE and China are considered among the fastest growing economies in the world. Both of our economies can complement each other, as UAE is a strategic trading hub for the entire region and Chinese products and services can reach new markets. I hope the 101st Canton Fair will be served as the great platform for the further closer relationships between our two countries.
I wish you all a very successful participation at the Canton Fair.
Thank you.
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Bilateral Visits