UAE-Finland Political Consultation Committee discusses strengthening trade and economic ties
The meeting was chaired by Her Excellency Ambassador Lana Zaki Nusseibeh, Assistant Minister of Foreign Affairs and International Cooperation for Political Affairs and UAE Permanent Representative to the United Nations, and Mr. Kai Sauer, Under-Secretary of State, Foreign and Security Policy, in the Ministry for Foreign Affairs of Finland.
They reviewed the bilateral relationship and discussed opportunities to enhance ties through collaboration on shared interests, including economic development, technology, climate change, and international peace and mediation.
The parties agreed on specific steps to bolster and expand trade and economic relations, including opportunities to deepen business-to-business ties and foster entrepreneurship.
Both countries confirmed their shared commitment to addressing the challenge of climate change and to advancing climate security. They discussed concrete initiatives to cooperate on those issues in the run-up to COP28, which the UAE will host in Dubai in 2023 in Expo city Dubai
The Committee reviewed the global political situation, including the latest regional developments in the Middle East and Europe. Both countries expressed their shared commitment to the peaceful resolution of conflicts and the role that regional and international organizations can play in that regard.
They concluded by emphasizing the importance of concrete, actionable outcomes to their consultations and a continual review process to ensure agreed targets are met.
Non-oil bilateral trade between the UAE and Finland increased 9.5 percent between 2020 and 2021. It is now USD 274.7 million in total.
The UAE has maintained diplomatic relations with Finland since 1975.
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