H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy. Image Courtesy: UAE Ministry of Economy

This week, an official delegation from the UAE headed by H.E. Abdulla bin Touq Al Marri, Minister of Economy, will travel to France to look into expanding existing economic ties between the two nations. The visit will be centered on strengthening relationships in particular with regard to commerce, entrepreneurship, tourism, aviation, travel, new and circular economies, education, health, and energy. It will also cover anti-money laundering, space, artificial intelligence (AI), and intellectual property.

H.E. Bin Touq will meet with French ministers, officials, and business leaders on a number of occasions to discuss ways to improve bilateral economic and trade relationships by looking into more exciting investment options.

The Minister of Economy will also participate in a meeting with the private sector, which will also be attended by several officials from both sides, to highlight the promising investment and commercial opportunities offered by the UAE economy. It will turn the spotlight on the advantages that the UAE’s business environment offers to investors and entrepreneurs, especially since French investments in the UAE continue to grow. More than 12,500 French economic licenses are active in the UAE as of July 10, 2023.

H.E. Bin Touq will pay a visit to some of the biggest business incubators and accelerators in France, including “Station F” and the “Airbus” Creative Center, to share experiences and best practices in entrepreneurship, startups, and technology, as well as to gain more insight into how they operate. He will also go to the French branch of First Abu Dhabi Bank.

The UAE and France enjoy distinguished trade relations, as reflected by their non-oil trade indicators. The total volume of non-oil foreign trade between the two countries amounted to approximately AED 31 billion (USD 8.36 billion) by the end of 2022, up 22 per cent from 2021.