UAE, Montenegro discuss means to boost trade and investment

Sultan bin Saeed Al Mansouri, Minister of Economy, has received Milutin Simovic, Deputy Prime Minister for Economic Policy and Financial System and Minister of Agriculture and Rural Development of Montenegro.

The ministers discussed means to enhance trade and investment relations and develop frameworks of cooperation in areas of mutual interest between the two countries. Discussions revolved around the two nations' economic agenda, covering the food, agriculture, tourism and trade sectors. They also discussed opportunities available to hold the next joint economic committee meeting.

During the meeting, Al Mansouri said that the UAE and the Republic of Montenegro enjoy excellent bilateral relations and have witnessed significant growth over the past few years, driven by friendship and respect between the two countries and the mutual desire of their leaders to move towards a new stage of cooperation between them.

The size of non-oil trade between the two countries is relatively small, but the growth in the volume of trade between the two countries has witnessed a significant increase over the past two years, reaching US$30 million in 2016, he added.

Milutin Simovic expressed his country's keenness to push forward its economic ties with the UAE and to raise the levels of trade and investment in various development sectors.

Montenegro aims to build a sustainable economic partnership with the UAE, which has a developed an advanced economic model, Simovic continued, adding that his country is looking to attract UAE business investment across various trade and investment sectors.