Abu Dhabi: The bilateral trade relations between the European Union and the UAE are going strong with exports from the European Union (EU) to the UAE reaching €42.8 billion (Dh175.4 billion) in 2015, up by about 15 per cent when compared to the previous year.
The UAE exports to the EU stood at €9.1 billion last year, according to Jean Bernard Bolvin, Acting Head of the EU Delegation to the UAE.
“The stellar EU export performance last year means that the UAE are now among the top ten export destinations of the EU,” said Bolvin while addressing a business delegation visiting the UAE from some member states of the European Union.
“The EU is one of the top three trade partners of the UAE offering quality goods and technology, as well as investment, finance and tourism.”
Abu Dhabi Vision 2030 is one of the key drivers for the sustained development of the Emirate and this, in turn, will open up opportunities for European companies to grow in this market, he said.
The business delegation represents six member states including United Kingdom (so far still part of the EU), Greece, Hungary, Lithuania, Belgium and Italy, is in the UAE to explore investment opportunities in various sectors. They held talks with officials from Abu Dhabi Chamber of Commerce and Industry on Sunday and will also visit Dubai and Sharjah to meet with the officials from the emirates.
About 6,000 European companies are presently operating in the UAE in sectors like construction, oil and gas, health care, education, travel and tourism among others.
Asked about the implications of the Brexit, members of the delegation said they don’t see much impact on the bilateral trade relations between the UAE and EU as a result.