Minister of Economy of UAE Sultan Bin SaeedAl Mansoori has stated that bilateral ties between UAE and Maldives have gone from strength to strength and are currently witnessing its highest peak.
In 2015, the total non trade foreign oil volume between Maldives and UAE grossed to USD 114 million while this volume increased by 12 percent to gross to a total worth of USD 129 million in 2016. Government stated that with such a huge increase in foreign volume, the Maldivian fisheries, shipping and tourism industry is expected to be at the receiving end of its positive effects. Referring to the foreign volume between Maldives and UAE, Minister of Economy of UAE Sultan Bin Saeed Al Mansoori credited the fast development Maldives is currently witnessing to the strategic action plans executed by President Abdulla Yameen Abdul Gayoom.
Economic Minister Al Mansoori further highlighted that Maldives has now established itself as one of the most prominent investment prone nation in the South Eastern region. In this regard, Minister Al Mansoori stated that the transition of Maldives from a low income country to a developing country is also credited to the strategic policies executed by the current administration of Maldives. Shedding light on the areas on which both countries can further expand its horizon, the Economic Minister of UAE highlighted that UAE can extand investments in industries such as economic, construction and tourism.
In addition, the UAE Minister also noted the huge potential Maldives posses in fields of Aviation, renewable energy production and real estate development. Highlighting the efforts of the current administration in expanding its scope of investments in various fields, Minister Al Mansoori said the agreements signed between Maldives and UAE would pave way for additional increase of investments to Maldives. Concluding his statement, Minister Al Mansoori assured that Maldivian entrepreneurs would be provided a fair and transparent opportunity to invest in UAE.