UAE News Today : Politics

The United Arab Emirates expands its economic collaboration with Switzerland


Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a high-level UAE delegation to Bern and Basel, Switzerland, where he met with senior government officials and private sector leaders to strengthen economic collaboration and encourage investment flows between the two nations.

The visit sought to build on growing ties between the UAE and Switzerland, which in 2023 saw non-oil trade reach a total value of $22.3 billion, an increase of 41.2 percent on 2022.

During the visit, Al Zeyoudi and Helene Budliger Artieda, Swiss State Secretary for the Economyapplauded growing bilateral trade and launched the Switzerland-UAE Economic Forum in Bern, facilitating discussions on investment and partnership possibilities. Al Zeyoudi He emphasized the long-standing ties between the UAE and Switzerland during the 50th anniversary of diplomatic relations, highlighting the importance of Switzerland as a valued trading partner and expressing a shared commitment to long-term economic growth through knowledge and innovation.

The Minister cited recent collaboration between the UAE and Switzerland in fields such as alternative fuels, trade finance, biotechnology research and medical technology as evidence of the potential for greater economic integration. He also touted the advantages of the UAE’s dynamic business landscape for Swiss companies seeking to expand into Asian and African markets, including its strategic location and world-class infrastructure and logistics capabilities.

Swiss cybersecurity company ZENDATA It is a recent addition to the country Next generation FDI program, which helps cutting-edge companies from around the world establish or expand their operations in the UAE.

While in Switzerland, Al Zeyoudi and the delegation that accompanied them visited the main Swiss private sector companies, including the headquarters of the Swiss pharmaceutical company. Novartiswhere they discussed the prospects for partnerships in line with the newly established UAE Emirates Drug Establishmentof which Al Zeyoudi He is the President of the Board of Directors.

The tours also included the Swiss aircraft manufacturer. Pilate, which develops, produces and sells aircraft worldwide. Pilatus partners with UAE Strata to boost advanced manufacturing capabilities in the nation and support its knowledge-based economy.

In addition to government officials, the UAE delegation was made up of senior executives from companies representing high-growth industries such as banking and finance, aviation, trade and investment, healthcare and advanced technology, including representatives from the Chamber of Commerce and Abu Dhabi Industry and Dubai Chambers. , Emirates Airline, M42, the Abu Dhabi-based global healthcare company, Etihad Credit Insurance, Ajman Chamber of Commerce, First Abu Dhabi Bank and Hub71, among others.

News source: Emirates News Agency


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