(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 22nd March, 2017 (WAM) -- Serzh Sargsyan, President of the Republic of Armenia, announced the exemption of the UAE's citizens from entry visa requirements to Armenia from today.
While speaking during the UAE-Armenian Investment Forum, organised by the Abu Dhabi Chamber of Commerce and Industry under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, President Sargsyan called on the UAE's investors, businessmen and companies to intensify their investments in his country, especially in agriculture, food industries, jewellery making, tourism, innovative technologies and in diamond and jewellery producing free zones, adding that these areas are totally exempt from taxes.
The event was attended by Serzh Sargsyan, President of the Republic of Armenia; Sultan bin Saeed Al Mansouri, Minister of Economy; Mohammed Thani Murshed Al Rumaithi, Chairman of the Abu Dhabi Chamber of Commerce and Industry, as well as senior officials and CEOs of 380 companies in the UAE and Armenia.
The Armenian president added that co-operation between the UAE and Armenian has developed in recent years, due to the support of the leaderships of both countries.
He also stressed the importance of the UAE-Armenian Investment Forum, held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, who is keen to develop UAE-Armenian ties and open new horizons for partnerships between investors and businessmen from both countries.
He then pointed out the historic ties of friendship between Arab and Armenian people, which led to the development of co-operation between the UAE and Armenia during the era of the late Sheikh Zayed bin Sultan Al Nahyan, while highlighting the importance of developing and promoting this rich legacy.
In the opening session, Sultan bin Saeed Al Mansouri, Minister of Economy, said, "it honours me, first of all, to give the sincerest regards to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his generous patronage of this event that was honoured with the attendance and participation by President Serzh Sargsyan."
He stressed that the patronage and attendance confirmed the strength of the bilateral ties between the UAE and Armenia. It also reflects the common desire for both leaders to develop these ties and elevate them towards a new special stage for activity and big development opportunities, which supports their common interests and their visions for development and flourishment.
He said that the wise leadership of the UAE has adopted, since its establishment, a civilisational course based on the principles of openness with different countries of the world. He gave great importance to building solid economic relations with all partners, based on mutual respect and achieving common benefit in a way that strengthens their competitiveness in external markets and serves commercial and investment interests both regionally and internationally.
Since the founding of diplomatic relations between the UAE and Armenia in January 1998, he explained, these ties have witnessed growth and development, flourishing in different fields based on mutual respect and common interests. There is an increasing interest in developing these ties and strengthening them, especially in economic and trading fields that benefit both countries and its citizens.
He noted that the ties between the two countries have witnessed important stages on the route to its development. Perhaps, one of the most prominent of those stages was the Armenian president's visit to the UAE in November 2016, particularly the meeting with His Highness Sheikh Mohamed bin Zayed. They discussed means of strengthening bilateral ties in developmental, economic and investment fields as well as increasing commercial exchange and other means of co-operation based on common interests.
This exceptional summit, he stressed, is a practical translation to this direction as it provides a perfect platform to deepen the partnership between the UAE and Armenia, and specify ways of commercial and investment co-operation that harmonises with the economic agendas for both countries.
Al Mansouri pointed that the size of commercial exchange between the two countries witnessed a noticeable development as the total external non-oil trade between UAE and Armenia in 2015 reached around US$102 million, including trade through free zones, while it recorded around $88.3 million during the first nine months of 2016.
This offers an early indication that trade between the two countries is growing, emphasising that the numbers do not correspond with the level of the political ties, does not reflect the available possibilities, and does not meet the hopes of the friendly nations' leadership and people. Highlighting the importance of the summit, he said it should strengthen the ties of economic and commercial co-operation as well as those between the UAE Business community and its Armenian counterpart. It should also increase the commercial and investment momentum through a group of sectors of common interest.
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