DED briefs delegation from Andorra on opportunities in Dubai

A high-level delegation from the European Principality of Andorra comprising senior government officials and private sector representatives visited the Department of Economic Development (DED) in Dubai recently as part of exploring avenues for closer bilateral ties, especially in investment, tourism and trade.

Khalid Al Kassim, Deputy Director General for Executive Affairs at DED, received the delegation led by Marc Pantebre, President of the Chamber of Commerce, Industry and Services of Andorra. Members of the delegation included Their Excellencies Gilbert Saboya Sunyé, Minister of Foreign Affairs and Frances Camp Torres, Minister of Tourism and Environment and representatives of 10 frontline firms from diverse industry sectors, especially the banking sector, in Andorra.

The two sides discussed the business environment in Dubai as well as Andorra as well as the facilities and incentives available for investors. Al Kassim explained ongoing efforts in Dubai to further strengthen the emirate’s reputation for the ease of doing business and facilitating access to strategic growth markets.

“We appreciate Andorra’s interest in building relations with Dubai and we are confident our bilateral co-operation will lead to remarkable outcomes given our respective strengths. Dubai is a regional hub while Andorra is reputed for its vibrant economy and prosperous financial services sector. Companies in the UAE can leverage Andorra’s expertise and resources in sectors such as banking, tourism and education. Meanwhile, Andorra can provide its investor community with the added value of easier access to promising markets through Dubai,” Al Kassim said.

“With a world-class logistics infrastructure as well as exemplary policies and practices Dubai offers a uniquely competitive environment to do business and reach out to nearly 2.2 billion consumers in the Middle East, North Africa and South Asia,” added Al Kassim.

Members of the Andorran delegation also expressed their eagerness to use the UAE as a gateway to the wider GCC and its adjoining regions. “Our meeting assumes significance in the context of the high level of mutual interest visible on both sides. Dubai is a successful economy that has all ingredients required for faster business growth, including infrastructure and services,” said the head of the visiting delegation.

“Andorra is a tax haven with a strong tourism sector that accounts for 80 per cent of our gross domestic product. Annual tourism arrivals have touched 30 million and we are rich in natural resources. Together, companies and investors in Andorra and Dubai can work to leverage existing opportunities on both sides and benefit from each other’s expertise,” added Pantebre.

Located between Spain and France, Andorra is the sixth smallest country in Europe and has one of the lowest unemployment rates in the world. Besides its tax haven status the country is known for its natural beauty and has also built a robust manufacturing sector based on its agricultural output.

Khalid Al Boom, Deputy CEO of Dubai FDI, the foreign investment office in DED, and Mohammed Rashid Lootah, Deputy CEO of Dubai Exports, the exports promotion agency of DED, were also present at the meeting.