• Home
• /
• Local business

UAE, Netherlands to Boost Economic Ties

DUBAI - The Crown Prince of the Netherlands arrives in Abu Dhabi today to promote economic ties between the UAE and the Netherlands and deliver the keynote address at the World Future Energy Summit.

While this is Crown Prince Willem-Alexander Claus Ferdinand’s first official visit, he has friends in Dubai and has visited several times before, according to Kees van Spronsen, consular General for the Netherlands in Dubai.

Crown Prince Willem-Alexander’s visit comes days after credit rating agency Moody’s downgraded the UAE’s rating. Dutch companies exported $1.9 billion to the UAE last year, and Dutch companies here do the drudging and land reclamation work for major developments that have slowed in the last few months.

Van Spronsen stressed the economic similarities between the UAE and the Netherlands. With a dense population and few natural resources, much of its economy relies on trade.

Since 2004, van Spronsen estimated the number of Dutch people living and working in the UAE has almost quadrupled.

“With an economic slowdown, trade slows down,” Van Spronsen said, emphasising the need to openly address trade concerns. “There is nothing wrong to say it, so we know it.”

The prince will not be signing any formal agreements during his trip, according to van Spronsen. Since the Netherlands is a constitutional monarchy, parliament controls international treaties. His visit to the UAE follows three days in Oman, where the Port of Rotterdam owns fifty per cent of the port authority in Sohar.

On his second day in the UAE, the Prince Willem-Alexander will speak at the World Future Energy Summit. While the consulate did not release his speech in advanced, the prince has more than 10 years experience in dealing with water management.

“We have to defend ourselves against the water,” Van Spronsen said. Dutch companies have been responsible for the dredging and reclamation projects on Nakheel’s Palm and World islands.

During his Dubai visit, Prince Willem-Alexander will meet with DP World, part of the Dubai World corporation which also owns Nakheel, to discuss collaboration between the UAE and the Netherlands on port development. Despite the economic slowdown, van Spronsen said he thinks the UAE is well positioned for recovery. “Don’t forget, here in the UAE, in Dubai, you are dealing with the masters of marketing,” he said.

· emily@khaleejtimes.com