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French exports to UAE hit record levels

Shaikha Lubna Al Qasimi, the UAE Minister of Foreign Trade, Khalifa Al Mazrouei Chairman of Abu Dhabi Airport’s Company or ADAC, Alain Azouaou, Ambassador of France to the UAE, Pierre Descazeaux, Senior Vice-President Africa and Middle East of Air France KLM and Sylvie Foss, Executive Director of the French Business Group Abu Dhabi were among those who were present on the occasion.

Air France will operate five flights in a week on the route using A 330 aircraft. The flights will depart Abu Dhabi at 00.30 hours and will reach Paris at 0545 (local time). The incoming flight will depart Paris at 13.45 hours (local time) and will land at Abu Dhabi airport at 22.25 hours.

UAE-France

Speaking on the occasion Shaikha Lubna said the relations between the UAE and France were growing in the recent years at a very rapid pace in all dimensions including trade, investments, tourism and culture.

The volume of French exports to the UAE tripled since 1998 and the UAE was now receiving nearly half of the total French exports to the Gulf region.

There is a growing flow of tourists between the two countries in the past couple of years, while over 10,000 French national are living in the UAE.

The decision to set up institutions like the Louvre Museum in Abu Dhabi was another factor that is stimulating the cultural ties between the two countries, the Minister said.

The French Ambassador said over the years the UAE has become the first customer and the business partner of France in the Middle East. “Our market share in the UAE’s foreign trade has grown steadily since 1990. Trade between UAE and France has reached record levels over the past few years. French exports to the UAE touched €3.5 billion in 2009 while it was only €2.6 billion just six years back. The UAE accounted for the second largest chunk of trade surplus that France had with different countries across the globe,’’ the Ambassador said.

“Direct foreign investment from France to the UAE multiplied ten-fold in the last ten years, and reached €2.14 billion in 2008. The UAE now received about 40 per cent of the French direct foreign investment in the Gulf,’’ the Ambassador said.

With the new route’s introduction Air France-KLM group now offers up to 10 weekly, nonstop, flights out of Abu Dhabi International Airport, to their respective hubs of Paris – Charles de Gaulle and Amsterdam – Schiphol offering additional travel alternatives, Pierre said. — ramavarman@khaleejtimes.com