UAE-Czech Business Forum convened to discuss enhancing joint cooperation and exploring additional trade and investment opportunities

 

In the presence of His Excellency Ahmed bin Ali Al Sayegh, UAE Minister of State, and His Excellency Petr Fiala, Prime Minister of the Czech Republic, the UAE-Czech Business Forum was held to discuss enhancing cooperation in wide-ranging vital sectors of common interest and explore additional opportunities for trade and investment between the two countries.

 

The forum was convened as part of the visit of a high-level UAE delegation led by His Excellency Al Sayegh to the Czech Republic

with the aim of expanding bilateral cooperation in numerous fields to fulfil the aspirations of the two countries and peoples. The visit saw the signing of an Agreement on the Avoidance of Double Taxation. 

 

His Excellency Al Sayegh praised the depth of UAE-Czech economic relations, highlighting the UAE’s status as one of the largest economic partners to the Czech Republic, as non-oil trade exchange exceeded USD 1 billion in 2022. He also noted the marked growth in Czech investment in the UAE.

 

His Excellency Al Sayegh added: “The convening of the UAE-Czech Business Forum reflects the ever-expanding bilateral relations between the UAE and the

Czech Republic, particularly in economic sectors, which have experienced significant growth recently in the wake of the signing of the agreement for economic, commercial, and technical collaboration in January 2022. The agreement heralded a new chapter of strong economic ties that will support plans for sustainable economic growth in the two countries.’’

 

The Forum saw the establishment of a number of joint working groups in sectors such as trade and investment; education; health; agriculture; environment, energy, and renewables; and technology, with the aim of exploring opportunities in both countries. A joint action plan was also agreed to advance bilateral cooperation in priority sectors for the two countries.

 

The delegation included representatives of numerous ministries, including the Ministry of Finance, the Ministry of Economy, the Ministry of Education, the Ministry of Climate Change and Environment, the Ministry of Health and Prevention, UAE entities and companies in the public and private sectors, the Federation of UAE Chambers of Commerce and Industry, the Fujairah Chamber of Commerce and Industry, the United Arab Emirates University, Khalifa University, American University of Sharjah, Masdar, Emirates Nuclear Energy Corporation, Al Dahra Holding, Tawazun, EDGE, ST Group, Rockford Xellerix, Al Fattan, Artificial Intelligence Office, UAE Space Agency, G42, Advanced Technology Research Council, Sharjah Research Technology and Innovation Park, Abu Dhabi Department of Economic Development, Invest in Sharjah, Dubai Airport Free Zone, Ajman Free Zone, Emirates Global Aluminum, and Bin Ghalib Group.

 

The College of Agriculture and Veterinary Medicine at the United Arab Emirates University and the Czech University of Life Sciences also signed a memorandum of understanding on the sidelines of the visit.