Oct 22 (KT) DUBAI- Shaikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, today met with Sri Lanka’s Minister of External AffairsGamini Lakshman Peiris on the sidelines of the ‘World Energy Forum 2012’ which kicked off today in Dubai.
The meeting discussed ways to strengthen the economic and investment partnership between the UAE and Sri Lanka and to boost the UAE’s investments in the island state.
The two sides also discussed ways to promote the strong bilateral cooperation and build on the economic and trade agreements signed between them.
Sheikha Lubna briefed the Sri Lankan Minister on the economic developments in the UAE over the past few years and the advanced trade standing achieved by the country as well as its higher rankings in international doing business confidence indexes, as well as its transformation into one of the world’s most important re-export hubs.
For his part, the Sri Lankan minister expressed his country’s appreciation of the economic and trade partnership with the UAE. He applauded the UAE’s advanced standing in international trade and investment. He also commended the positive role played the UAE’s investments play in Sri Lanka which enjoys a wealth of natural resources and vibrant tourism and agriculture.
Peiris added that his country was following the advancements achieved in the UAE’s energy sector and its pursuit of clean and renewable energy, subsequently becoming the home of the International Renewable Energy Agency (IRENA).
During the first 6 months of 2012, trade between the UAE and Sri Lanka reached USD 191 million, USD 69 of which were exports and USD 41 million were re-exports.