PARIS, 22 November 2007 — Sheikh Sultan bin Ahmed bin Sultan Al-Qassimi, chairman of the Sharjah Commerce and Tourism Development Authority, expressed confidence in the emirate’s potential for continued economic expansion and for lucrative opportunities for French investors in particular, citing various examples of current successful trade ventures between the two nations.
Speaking at the preliminary conference on the UAE-France Partnership Forum, currently under way in Paris, he said “French exporters are active in all sectors of the UAE’s economy, particularly infrastructure projects and consumer goods. More than 200 French firms have a direct investment presence in the UAE, including investors, banking firms and retailers. Through the France Agency for International Business Development, French firms are actively involved with principal UAE Trade Fairs such as Arab Lab, Middle East Electricity, Arab Health and Gulf Food among others.”
He added “the exemplary relations between the UAE and France have resulted in promising projects in all areas, particularly in the areas of education, culture and energy.”
The UAE is the key trade partner to France in the Middle East and last year’s two-way trade exchange of 3.5 billion euro is a good example of bilateral cooperation and investment. This is important to both nations, as it translates our desire to create a platform for dialogue among cultures to address ignorance.” Sharjah is well known as one of the most prolific industrial producers in the UAE, with facilities that include 19 industrial areas which make the emirate the heart of UAE industry, providing 48 percent of the UAE’s industrial revenue.
The boom in the number of new industrial projects, such as the construction of numerous large industrial areas, in addition to the signing of joint venture agreements with international companies, has made manufacturing investment in Sharjah increasingly attractive to foreign investors, leading the emirate to implement strategies aimed at developing its economic base, increasing productivity and diversifying its sources of revenue.
The emirate is also renowned for its reputation as the UAE’s cultural hub, with over two dozen museums and cultural centers, encompassing a diversity of subjects ranging from science and wildlife to heritage and religion, as well as several art galleries and a number of expertly restored historical sites.
Sharjah is also the only city ever to have been named a “Cultural Capital”, even though it is not the UAE’s capital city. In 2008, the emirate is set to celebrate the 10th anniversary of its having received this honor.
“We are committed to reaching new cultural and economic heights, and we look forward to working together with you as we make our way toward becoming a leader in trade, industry, tourism, and education, not only in the Middle East, but also in the world,” Sultan added.
