Abu Dhabi: UAE plans to increase its investment in the agriculture sector abroad and is active in many countries, an official from Federation of UAE chambers of commerce and industry said.
“We want to invest wherever there is an opportunity. We are already present in many countries including Serbia, Morocco, Pakistan, Egypt, Brazil and Mexico,” said Mohammad A. Al Nuaimi, assistant secretary general of Federation of UAE Chambers of Commerce and Industry.
“This is not about food security for the UAE but for the entire region,” said Nuaimi, speaking on the sidelines of First Serbian Business and Investment Forum held in Abu Dhabi on Sunday.
He urged businessmen from the UAE to invest in Serbia and strengthen trade relations between both the countries.
The trade figures between the two countries stand at Dh116 million for 2013 and it has to be increased, he said.
“We have to work hard to make this number big. Joint venture projects can be taken up to strengthen trade relations. Serbia offers wonderful opportunities and UAE has great infrastructure for Serbian businessmen to invest.”
A number of businessmen from the UAE and Serbia took part in the event, which is being organised by Serbian Business Council in cooperation with Federation of UAE chamber of Commerce.
A similar event would be held in Dubai, Fujairah, Ras Al Khaimah and Sharjah in the coming days.
UAE is already active in Serbia. Etihad in August acquired a 49 per cent equity stake in Air Serbia, formerly known as Jat Airways and pledged to invest $40 million (Dh147 million) with the purpose of developing a transportation hub in the region.
UAE-based construction company Eagle Hills is developing Belgrade Waterfront in downtown area of Serbian capital. The company would be spending $4.08 billion in the project.
The Emirates Advanced Research and Technology Holding (Earth), a subsidiary of Emirates Advanced Investments signed an agreement with the Serbian state owned defence company Yugoimport to jointly develop advanced light attack system cruise missiles. The contract is worth 200 million euros (Dh882 million).
In the agriculture sector, Abu Dhabi Development Fund is investing in food production by taking over a large arable field. Another firm, Al Dahra, has signed a $400 million (Dh1.47 billion) agreement to buy eight Serbian farm companies and develop them to grow and process food and fodder for export.
