Today's Edition
ABU DHABI (WAM)
Minister of State for Foreign Trade, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, headed a high-level UAE delegation to Bern and Basel, Switzerland, where he met senior government officials and private-sector leaders to strengthen economic collaboration and foster investment flows between the two nations.
The visit sought to build on growing UAE-Swiss ties, which in 2023 saw non-oil trade reach a total value of $22.3 billion – a 41.2 percent increase in 2022.
The delegation included UAE Ambassador to the Swiss Confederation, Hissa Abdulla Al Otaiba, Director-General of the Emirates Drug Establishment, Dr. Fatema Mohamed Al Kaabi, Undersecretary at the Abu Dhabi Department of Economic Development, Rashed Abdulkarim Al Blooshi, Assistant Undersecretary for International Trade at the Ministry of Economy, Juma Mohamed Al Kait, Assistant Undersecretary of Advanced Technology at the Ministry of Industry and Advanced Technology, Tariq Yaqoob Al Hashmi, Chief Executive Officer for the Abu Dhabi Chamber of Commerce, Ahmed Khalifa Al Qubaisi, and Secretary-General of the UAE Investors Council, Jamal Saif Al Jarwan Al Shamsi.
Al Zeyoudi held talks with Helene Budliger Artieda, Switzerland's State Secretary for Economic Affairs, during which the two sides commended the growing bilateral trade exchange.
After that, they helped open the Swiss-UAE Economic Forum, which was held in Bern and gathered representatives of leading companies and investors from both nations to explore high-potential investment and partnership opportunities.
He also reiterated the strong UAE-Switzerland ties as the two countries celebrate 50 years of diplomatic relations, reflecting a united vision of mutual economic prosperity.
"Switzerland is a valued trade and investment partner to the UAE and the leading European destination for our non-oil trade exports and fourth globally with a value of US$9.55 billion in 2023. Our bilateral trade exceeded US$22.3 billion in 2023, which represents an increase of 41.2 percent over 2022 and underlines the degree of synergy between our economies," he added.
"Switzerland shares our vision for long-term, sustainable economic growth built on knowledge and innovation, which in turn provides a platform for deeper cooperation. By bringing together our respective public and private sectors, the UAE-Swiss Economic Forum is one of the optimum ways to identify and explore these opportunities and build the connections and networks that will support another 50 years of positive UAE-Swiss ties," Al Zeyoudi explained.
He cited recent UAE-Swiss collaboration in fields such as alternative fuels, trade finance, biotech and med-tech research as evidence of the potential for greater economic integration.
The Minister also promoted the advantages of the UAE's dynamic business landscape to Swiss businesses seeking to expand into markets in Asia and Africa, including its strategic location, and world-class infrastructure and logistics capabilities.
Swiss cybersecurity firm ZENDATA is a recent addition to the country's NextGen FDI programme, which helps cutting-edge companies from around the world establish or expand their operations in the UAE.
During the visit, Al Zeyoudi and the accompanying delegation visited leading Swiss private-sector companies, including the headquarters of Swiss pharmaceutical company Novartis, where they discussed prospects for partnerships in line with the UAE's newly established Emirates Drug Establishment, of which Al Zeyoudi is the Chair of the Board of Directors.
The delegation also toured the Swiss aircraft manufacturer Pilatus, which develops, produces, and sells aircraft worldwide. The Swiss manufacturer partners with the UAE's Strata to boost advanced manufacturing capabilities in the nation and support its knowledge-based economy.
Besides government officials, the UAE delegation comprised senior executives of businesses representing high-growth industries. These include banking and finance, aviation, trade and investment, healthcare, and advanced technology, including representatives from the Abu Dhabi Chamber of Commerce and Industry, 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, amongst others.
