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Emirates News Agency – Senior UAE delegation visits Czech Republic to strengthen bilateral cooperation, sign Double Taxation Agreement

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PRAGUE, 28th May, 2023 (WAM) — A high-level UAE delegation led by Ahmed Ali Sayegh, Minister of State, visited the Czech Republic with the aim of expanding bilateral cooperation in various fields of mutual interest.

The delegation included Saeed Mubarak Al Hajri, Assistant Minister of Economic and Trade Affairs; Abdullah Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry, and senior representatives of numerous ministries and companies from the public and private sectors.

During the visit, Sayeg held bilateral talks with Czech Prime Minister Fiala; Jozef Sikela, Minister of Industry and Trade; Zbynek Stanjura, Minister of Finance; Deputy Foreign Minister Jiri Kozak; Jana Vohralikova, Chief of the Presidential Office; Security Adviser Thomas Pojal, during which the two sides reaffirmed the desire of the two countries to strengthen cooperation in various fields, especially trade and investment.

The visit also witnessed the signing of an agreement on the avoidance of double taxation signed by Al Sayegh on behalf of the UAE and Stanjura, Czech Republic. In response, Al Sayegh said, “The willingness to sign the agreement and establish the Joint Economic Council, as well as the exchange of high-level visits, reflects the common desire of the UAE and the Czech Republic to deepen bilateral relations in all fields, especially in the economic and trade fields, which have lasted for three years. Ten years.”

The two sides also discussed strengthening cooperation in the area of ​​climate action, in light of the UAE’s upcoming hosting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), where participants will take stock of global progress towards meeting the global climate goals set out in the Paris Agreement.

During his visit, Al Sayegh highlighted that the bilateral economic relationship has developed significantly in recent years, especially following the signing of the Economic, Trade and Technology Coordination Agreement in January 2022, which heralds a new era of stronger economic relations .

The agreement also leads to the development of effective programs and mechanisms to explore prospects for cooperation and partnerships in the areas of trade, investment and knowledge exchange, which will contribute to the sustainable economic growth of both countries.

Al Sayegh emphasized that the UAE has an extensive network of economic, trade and investment partnerships with global markets on all continents, noting that the UAE leadership has adopted a strategy to develop these partnerships as part of the UAE Centenary in 2071, especially are in key areas of relevance to the future of the economy.

He added: “The Czech Republic is an important economic destination and an important partner for the UAE in Central Europe. It has a strong economic and industrial infrastructure and a wealth of potential opportunities through which it can build sustainable partnerships with the UAE business sector. Ongoing and fruitful partnership.”

Saeed Al Hajri, Assistant Minister for Economic and Trade Affairs, confirmed that the visit opens up new horizons to enhance cooperation between the two countries and will help strengthen the UAE’s position as an important gateway for Czech exporters and investors to take advantage of opportunities in the local market, and Extend it to other countries regionally and globally.

The two countries have signed various agreements to support the development of the bilateral economic partnership, the most important of which are the Air Services Agreement, the Investment Protection and Promotion Agreement, and the Avoidance of Double Taxation Agreement.

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