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UAE Keen on Co-operation with EU
DUBAI — The UAE is keen to promote co-operation with the European Union to further boost its non-oil trade with and investment from the world’s most prosperous economic bloc, Minister of Economy, Sultan bin Saeed Al Mansouri said on Saturday.
At a meeting with EU ambassadors to the UAE, Al Mansouri expressed the country’s aspiration for the promotion of frameworks for joint co-operation with the European Union in various fields of industry, specifically small and medium industries, manufacturing and chemicals.
Speaking on the non-oil trade between the UAE and the European Union, the minister said that the bilateral trade has achieved remarkable growth, rising from $17.5 billion in 2004 to $43.2 billion in 2008 at an annual growth rate of 25.3 per cent.
“The volume of direct investment from EU countries to UAE has seen a remarkable growth as the percentage contribution of these investments to the total foreign investments in the country reached 20 per cent in 2007,” Al Mansouri was quoted by Wam.
Al Mansouri said he was willing to hold such dialogues with the EU ambassadors on a regular basis as part of efforts to enhance co-operation at various levels. ‘’Interactive dialogue will produce, at the end of the day, the best aspired results for bilateral relations,’’ he said.
Al Mansouri also pointed out the efforts made for the protection of intellectual property rights, stressing that the country is keen to provide a safe environment free from abuses, violations and piracy. The minister noted that the first efforts for the protection of intellectual property rights began with the founding of the UAE in 1971 through legislation that protected the rights of intellectual property in general.
The country’s constitution clearly guaranteed the intellectual property rights and it appears in Article 21 of the Constitution which provides for maintenance of private property. This is in addition to Article 121 which has been entrusted to the federal union the task of legislation in this regard, noted the minister.
He added that commitment of the government and the Ministry of Economy to the protection of intellectual property rights has resulted in ranking the UAE as the first in the Arab world in the fight against piracy, whereas the piracy rate dropped to 35 percent in 2008 -2009.
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