https://arab.news/zv4bk
- High-level talks focus on trade, investment, and include agreement on tax
DUBAI: A high-level delegation from the UAE visited the Czech Republic with the aim of expanding bilateral cooperation in various areas of common interest, Emirates News Agency reported on Sunday.
The delegation headed by Ahmed Ali Al-Sayegh, the UAE minister of state, included Saeed Mubarak Al-Hajri, assistant minister for economic and trade affairs; Abdullah Al-Mazrouei, president of the Federation of UAE Chambers of Commerce and Industry; and a large number of senior representatives from ministries and companies from the public and private sectors.
During the visit, Al-Sayegh held meetings with Czech Prime Minister Petr Fiala; Jozef Sikela, minister of industry and trade; Zbynek Stanjura, minister of finance; Jiri Kozak, deputy minister of foreign affairs; Jana Vohralikova, head of the Office of the President; and Tomas Pojar, National Security Adviser.
The visit also witnessed the signing of the Avoidance of Double Taxation Agreement.
“The signing of this agreement and the keenness to establish a Joint Economic Committee, as well as the exchange of high-level visits, reflect the mutual desire of the UAE and the Czech Republic to deepen bilateral relations which extend for more than three decades, in all fields, particularly in economy and trade,” Al-Sayegh said.
The two sides also addressed strengthening cooperation in the sphere of climate action in light of the UAE’s hosting of COP28, during which participants will conduct a worldwide stocktake of progress toward meeting the Paris Agreement’s global climate objectives.
During the visit, Al-Sayegh emphasized that the bilateral economic cooperation has grown significantly in recent years, particularly after the signing of an agreement on economic, commercial, and technical coordination in January.
The agreement also resulted in the implementation of effective programs and processes to explore opportunities for collaboration and partnerships in the domains of trade, investment, and knowledge exchange, which will help to both nations’ long-term economic progress.
Al-Sayegh added: “The Czech Republic is a prominent economic destination and an important partner for the UAE in Central Europe.
“It has strong economic and industrial infrastructure and is rich in potential opportunities through which a sustainable and fruitful partnership can be built with the UAE business sector.”
Meanwhile, Al-Hajri will help to reinforce the UAE’s position as a critical gateway for Czech exporters and investors to capitalize on prospects in domestic markets and expand them to other countries, regionally and worldwide.
The most important agreements inked by the two countries to support their developing bilateral economic engagement are the Air Services Agreement, the Investment Protection and Promotion Agreement, and the Avoidance of Double Taxation Agreement.