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Friday, May 12, 2023 at 20:47 PM
DUBAI, 12th May, 2023 (WAM) — Non-oil trade between France and the UAE will grow to €7.318 billion by 2022 ( 8 billion), an increase of 21% over 2021.
In a statement to the Emirates News Agency (WAM), he added that the official visit to Paris by President His Highness Sheikh Mohamed bin Zayed Al Nahyan will further boost trade exchanges between the two countries.
“France is a major European Union (EU) investor in the UAE, with foreign direct investment (FDI) at 4.025 billion euros ($4.4 billion) at the end of 2020, accounting for 20 percent of total EU investment in the UAE.”
The UAE has invested 3.019 billion euros ($3.3 billion) in France by the end of 2021, he added.
Under the patronage of French President Emmanuel Macron, the first Vision Golfe will be held on June 13-14, 2023 at the venue of the French Ministry of Economy, Finance, Industry and Digital Sovereignty, the largest Economy and Trade He said the event was jointly organized by France and Gulf Cooperation Council (GCC) countries, including the UAE.
The event aims to create new opportunities for business cooperation between France and GCC countries, especially with UAE companies, and to strengthen their trade relations.
Baroux hailed the UAE as the most promising market for French exports in the region, noting that more than 600 French companies operate in the UAE, employing almost 30,000 people,
France is the UAE’s fourth-largest economic partner in the EU, ranking third in the UAE’s imports and sixth in the UAE’s non-oil exports.
hatem muhammad
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