UAE, Slovakia sign MoU establishing Joint Economic Committee

Bratislava: UAE Minister of Economy, Sultan Bin Saeed Al Mansouri and Slovakia’s Deputy Prime Minister and Minister of Foreign and European Affairs, Miroslav Lajcak, have signed a Memorandum of Understanding (MoU) establishing the UAE-Slovakia Joint Economic Committee (JEC).

The committee which will comprise representatives of government authorities and business communities from the two countries will be tasked, among other things, with identifying appropriate measures and new opportunities to facilitate, expand and enhance bilateral economic cooperation.

According to the agreement, the new joint committee will hold its first meeting next year to contribute towards enhancing bilateral relations between the two countries with a focus on sectors such as finance, banking, tourism, agriculture, transport and industry.

Al Mansouri said non-oil trade between the UAE and Slovakia totalled Dh901 million in 2013, and Dh552 million in the first half of 2014.