YEREVAN, 30th June, 2023 (WAM) — Dr. Nariman Moura, UAE Ambassador to the Republic of Armenia, underlined the strong relationship between the two countries, which are witnessing a new era in history, emphasizing that both countries aspire to Strengthen cooperation between the two countries. Historic cooperation has benefited the two countries and the two peoples.
On the occasion of the 25th anniversary of the establishment of diplomatic relations between the UAE and Armenia, Ambassador Dr. Mulla said that both countries look forward to strengthening their bilateral relations, especially in the fields of economy, commerce and investment.
Dr. Mulla emphasized that under the directives of the leaders of the UAE and Armenia, the mutual economic partnership is continuing to grow, creating more opportunities for the business community and the private sector in both markets.
The ambassador added that both the UAE and Armenia have bright prospects in several areas, which will have a positive impact on both countries. These industries include healthcare, pharmaceutical manufacturing, real estate development, infrastructure and logistics, telecommunications, agriculture, and more.
Ambassador Almura affirmed the embassy’s keenness to promote economic and trade ties and to provide companies and businessmen with all necessary “assistance” to diversify current partnerships and assist start-ups to expand in areas of mutual interest, including Trade, technology, agriculture, food security, tourism, renewable energies, transport and other new economic sectors, especially the technology industry, space and the circular economy.
Ambassador Almullah also called on businesses to benefit from the advantages and incentives offered by the national economy to achieve further growth and expansion in the UAE as well as the Middle East and African markets.
The Ambassador reiterated the importance of the COP28 climate conference, which will be held in Dubai Expo City, UAE this November, to strengthen global climate action, and welcomed Armenia’s participation in this important international conference.
In addition, non-oil trade between the UAE and Armenia will reach approximately US$1.53 billion in 2022, an increase of 673% compared to 2021. The UAE’s non-oil exports to Armenia will total nearly $229 million in 2022, with a growth rate of 245% compared to 2021.
In 2022, the UAE’s total re-exports to the Armenian market will be approximately US$747 million, an increase of 678% compared to 2021. In 2021, the UAE will be Armenia’s largest trading partner in the GCC, accounting for 90% of Armenia’s total trade with GCC countries.
In terms of investment, as of early 2021, Armenia’s investment in the UAE reached $32 million. In addition, the UAE will invest more than US$35 million in Armenia’s agriculture and food security, real estate and other fields in 2021.
In addition, following the signing of the relevant protocol in New York on June 25, 1998, the UAE and Armenia are celebrating the 25th anniversary of the establishment of diplomatic relations between the two countries this year.
The Armenian embassy in Abu Dhabi opened in 2000 and the UAE embassy in Yerevan in 2015. The Consulate General of Armenia in Dubai also opened in 2017.
In recent years, the bilateral relations between the UAE and Armenia have made considerable progress. Officials from the two countries have exchanged visits and meetings, and the cooperation has further deepened. Furthermore, the number of UAE tourists visiting Armenia has increased significantly since Armenia canceled entry visas for its citizens on March 22, 2017, reaching 7,751 by 2022.
Abu Dhabi, Dubai, Sharjah and other national airlines launched direct flights to Yerevan, contributing to the strengthening of economic, cultural, tourism and people-to-people relations between the two countries. In the past two years, the UAE’s investment in Armenia has increased significantly. Among them, the UAE Masdar and the Armenian National Interest Fund “ANIF” will cooperate to launch a major investment project in 2021. The goal is to build a solar power plant with a capacity of 200 megawatts. Aviation has partnered with the Armenian National Interest Fund to establish Armenia’s national airline, Fly Arna.
In addition, the UAE and Armenia have signed more than 30 cooperation agreements in the fields of investment, elimination of double taxation, trade, economy, legal aid, culture, education, science, medical care, agriculture, tourism, aviation communications, customs, security and other fields .