International Finance

Ministry of Economy heads UAE team at Astana Economic Forum

Representatives from private sector also participate

June 6, 2016: A high-level delegation from the UAE, which was headed by the Ministry of Economy, has revealed their successful participation at the 9th Session of the annual Astana Economic Forum, a leading platform for international dialogue that enables constructive discussion of economic development issues concerning both Central Asia and the entire world, which was held from May 25 to May 26, 2016 at the Independence Palace in Astana, the capital of Kazakhstan. This year’s forum was held under the theme, ‘New Economic Reality: Diversification, Innovation and Knowledge Economy,’ and was participated in by over 5,000 attendees coming from 80 countries –widely composed of key decision makers, businessmen, investors and representatives from various government agencies.

The UAE delegation was headed by His Excellency Humaid Bin Butti Al Muhairi, assistant undersecretary for commercial affairs and consumer protection, ministry of economy and was accompanied by H.E. Hamad Rashid Al Habsi, Acting Charge D’ Affairs from the UAE Embassy in Kazakhstan. The delegation was composed of representatives from both federal and local government entities along with private sector groups, which included Arif Amiri, deputy chief executive officer, Dubai International Financial Centre (DIFC); Hassan Al Hashemi, vice president for international relations, Dubai Chamber of Commerce and Industry; Abdullah Bin Naser Al Mansouri, chairman, Al Nasser Holding Group; Hussein Mattar, business development director, Al Nowais Investments and Mohammed Ibrahim Ahmed, government communications administrative officer from the Ministry of Economy.

According to Bin Butti, the UAE has maintained strong ties with the Republic of Kazakhstan, especially across economic and trade cooperation, which is reflected in the annual growth between the two countries — wherein foreign trade between the UAE and Kazakhstan exceeded USD 270 million in 2015 (including free zones).

He added that the UAE was keen on participating at the annual Astana Economic Forum, which serves as a strategic platform to discuss the world’s most recent economic developments across an audience of distinguished decision makers, government officials and representatives of the private sector–talking about timely economic issues that are widely related to Central Asia in particular and the global economy in general.

Bin Butti noted that the forum plays a significant role in the efforts to enhance communication ties between the business communities of the UAE and Kazakhstan, as well as with other participating countries. The annual forum also seeks to promote cooperation between the private sectors of all participating countries in order for them to play a stronger role in consolidating bilateral economic relations.

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