27.6 billion dirhams of non-oil trade exchange during the first half of 2021

The UAE is Switzerland's first Gulf and Arab trading partner

The discussions of the UAE and Switzerland dealt with the areas of trade, innovation and economic cooperation.

From the source

The Minister of Economy, Abdullah bin Touq Al Marri, met with the President of the Swiss Confederation and the Minister of Economy, Education and Research in Switzerland Guy Parmelin, who is visiting the country at the head of a high-level government delegation, and participated in the celebrations of Switzerland's National Day in its pavilion at the Expo 2020 Dubai.

Parmelin valued the discussions held by the two sides in the fields of trade, innovation and economic cooperation, pointing out that they represent main axes to enhance the common economic interests of the two countries during the next stage, and are in line with the vision adopted by Switzerland and presenting it to the world at its pavilion within the "Expo 2020 Dubai".

For his part, the Minister of Economy, Abdullah bin Touq Al Marri, briefed the President of the Swiss Confederation and his accompanying delegation on the developments in the economic environment in the UAE, and the initiatives and projects launched by the state in the framework of its future vision.

He explained that the UAE is Switzerland's first Gulf and Arab trading partner, as the volume of non-oil trade exchange between the two countries during the first half of 2021 amounted to about 27.6 billion dirhams, while Switzerland is the sixth largest trading partner of the UAE globally, and the first at the level of exports.

The two sides focused on a number of vital sectors to lead the partnership efforts between the two sides during the next stage, most notably the circular economy, innovation, information technology, communications, modern financial technologies, education, health care and tourism of all kinds, including medical and hospital tourism, and various fields of the economy. the new.

It is noteworthy that Switzerland ranked sixth among the countries of the world in terms of the cumulative balance of foreign direct investment in the UAE until the beginning of 2020, with a cumulative balance of $4.6 billion.

Switzerland accounts for 3.5% of the total foreign direct investment balances in the UAE until the beginning of 2020, achieving a growth of 22.6% until the beginning of 2020 compared to the same period in 2019, and a growth of 62.4% compared to 2015.

Swiss investments in the UAE include various fields and economic activities, including: wholesale and retail trade, repair of cars and motorcycles, the financial and insurance sector, real estate activities, transportation and storage, professional, scientific and technical activities, industry, construction, education, communications and information technology, administrative and support services .

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