Business | Economy

Lubna lauds productive relations with Africa

Shaikha Lubna Al Qasimi, Minister of Foreign Trade, underlined the importance of sovereign wealth funds in accelerating the growth of developing economies.

  • Staff Report
  • Published: 00:41 December 2, 2008
  • Gulf News

Dubai: Shaikha Lubna Al Qasimi, Minister of Foreign Trade, underlined the importance of sovereign wealth funds in accelerating the growth of developing economies.

Shaikha Lubna lauded productive and harmonious ties between the UAE and Africa in a speech delivered yesterday at the opening ceremony of the Crans Montana Forum GCC Africa conference held in Bahrain.

This year's edition, which adopts the theme 'Strengthening the GCC-Africa Cooperation,' is being held in association with the Opec Fund for International Development (OFID), the Organisation for Economic Co-operation and Development (OECD) Development Centre.

"Sovereign wealth funds have emerged as potent tools for assisting rapidly developing economies and emerging markets such as Africa in accelerating growth.

"They stabilise global financial markets, boost equity investment and provide substantial capital into domestic organisations and national projects. As a valued partner of long standing, Africa remains a primary destination for UAE funding and businesses," Shaikh Lubna said.

"This forum provides the perfect platform for the UAE and the Gulf to explore more closely the broad potential of this resource-rich region," she said.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Economy

  1. Business leaders voice faith in city

  2. Deficit remains a cause for concern amid recovery

  3. Readers optimistic about UAE economy

  4. Shaikh Mohammad reaffirms UAE unity

All articles in Economy

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice