HE Younis Haji Al Khouri, Undersecretary of MoF, recently headed a breakfast gathering organised by the Ministry of Finance (MoF) for South American Ambassadors in the UAE. The event was held to discuss investment opportunities for Emarati investors in those countries, in line with the UAE’s efforts to further strengthen its business environment and to establish itself as leading business country. MoF is also committed to continuously hosting such events to support the UAE’s mission in having a sustainable economy and in achieving the greatest possible benefits from global partnerships.

The breakfast took place in the Ministry’s headquarters in Abu Dhabi and was attended by HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector at MoF; HE Mohammed Issa Abushahab, Director of the Department of American and Pacific Affairs on behalf of the Ministry of Foreign Affairs, representatives from each of Mubadala Development Company, Abu Dhabi Investment Authority and Dubai Port World and in the presence of representatives and ambassadors of Republic of Chile, Republic of Columbia, Republic of Mexico, Federative Republic of Brazil, Bolivarian Republic of Venezuela, Dominican Republic, Republic of Panama, Republic of Peru, Republic of Urugay, Argentine Republic, and the Republic of Ecuador.

HE Younis Haji Al Khouri, Undersecretary of MoF , commenced the event by welcoming all South American Ambassadors and representatives who attended, and thanked them for accepting the invitation. He stressed on the significance of the economic and investment ties between the UAE and all South American countries. HE added that the Ministry will continue to work on strengthening this cooperation relationship through constant communication on different levels. He stressed on the importance of this collaboration in promoting the UAE’s economy globally, strengthening strategic cooperation between the two parties, enhancing the exchange of expertise regarding the governance framework for the SWF, promoting joint projects as well as exchanging views on aspects of cooperation and investment opportunities in those countries.

During the gathering, the Ministry presented a working paper which discussed the UAE’s economic and investment environment and clarified the most important economic indicators that links it to South American countries. Furthermore, the gathering initiated a point of direct contact between the ambassadors and the representatives from Mubadala Development Company, Abu Dhabi Investment Authority as well as Dubai Port World. This will promote the exchange views for joint cooperation and will aid in devising methods to enhance trade and investments flows.

It should be noted that the UAE had signed an agreement with Mexico, Venezuala, Panama and Ecuador to avoid double taxation on income by the end of the year 2012 which aimed to strengthen and develop economic and investment relations with those countries.

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