Business | Economy

France aims to increase trade volumes with UAE to over Dh25b

Foreign Trade Minister unveils plans to invest heavily in region's infrastructure

  • By Cleofe Maceda, Staff Reporter
  • Published: 23:56 October 22, 2008
  • Gulf News

Dubai: France is intensifying its efforts to draw more investments from the UAE and hopes to expand bilateral trade volumes to over 5 billion euros (Dh25 billion) in the next few years, said French Secretary of State for Foreign Trade, Anne-Marie Idrach.

Idrach met with Middle East-based French companies at a dinner in Dubai last night to unveil the new logo of France. The visit is part of the top official's four day tour in the GCC that kicked off on October 19 and covered Saudi Arabia, Qatar, the UAE and Oman.

In a brief interview with Gulf News, Idrach said French companies have already invested 1.5 billion euros (Dh7.5 billion) in the region and are keen to invest more in the further development of infrastructure, new energy, water and other urban services in the GCC countries.

Quoting the latest bilateral trade figures, Idrach said the volume of UAE exports to France stands at 1 billion euros (Dh5 billion), while the amount of UAE imports from France is pegged at 4 billion euros (Dh20 billion).

"We expect these figures to grow, as well as the volume of investments from here to France," Idrach told Gulf News.

"We are welcoming investments from any Gulf country.

"Likewise, the French companies would like to invest a little more in new infrastructure, new energy, water and urban services projects here. Our goal is to keep our share of the trade and investment markets."

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