The UAE, represented by the Ministry of Economy, and the Kingdom of Sweden, represented by the Ministry of Commerce, Industry and Innovation, signed a new memorandum of understanding for cooperation in the fields of innovation, SMEs and entrepreneurship during a visit to a high-level delegation from the UAE headed by Minister of Economy, Sultan bin Saeed Al Mansouri. To the Swedish capital Stockholm.
Al-Mansouri confirmed that the volume of non-oil trade exchange between the two countries recorded about 940 million dollars (3.45 billion dirhams) by the end of 2018, and is expected to exceed one billion dollars (3.68 billion dirhams) by the end of this year.
Al Mansouri invited Sweden's Minister of Trade, Industry and Innovation Ibrahim Baylan to organize a visit to the country and attend the opening of Expo 2020.
He explained that about 90% of the work has been completed at Expo 2020, and that it represents a golden opportunity for all companies and governments participating, including the Kingdom of Sweden, noting the importance of exploring ways to benefit from this distinguished platform for trade and economic cooperation between Swedish companies and their UAE counterparts. As well as international companies operating in the region as a whole, in the post-Expo.
For his part, Ibrahim Baylan said that the UAE is today an important outlet for the export of Swedish products to the region, because of its distinct geographical location and advanced commercial potential, and noted the keenness of Sweden to achieve a distinguished participation in «Expo 2020», and it represents an ideal opportunity for the government And Swedish companies, to strengthen their presence in the region.
The Swedish minister also reviewed the steps that have been implemented so far to design the pavilion of the Kingdom of Sweden at Expo 2020 with international and environmental standards.