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UAE and Switzerland Enhance Economic Collaboration with High-Level Delegation Visit

UAE and Switzerland Enhance Economic Collaboration with High-Level Delegation Visit

In a bid to strengthen economic ties and foster investment flows between the two nations, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a high-level UAE delegation to Bern and Basel, Switzerland. The visit aimed to build upon the growing UAE-Swiss relations, which witnessed a significant increase in non-oil trade in 2023.

The delegation, which included key government officials and private-sector leaders, convened with senior Swiss government officials and private-sector representatives. Together, they explored avenues for economic collaboration and investment opportunities.

During the visit, talks were held between Dr. Al Zeyoudi and Helene Budliger Artieda, Switzerland’s State Secretary for Economic Affairs, where both sides commended the escalating bilateral trade exchange. Additionally, they inaugurated the Swiss-UAE Economic Forum in Bern, gathering representatives from leading companies and investors from both nations to discuss potential investment ventures.

Dr. Al Zeyoudi reiterated the robust UAE-Switzerland ties, particularly as the two countries commemorate 50 years of diplomatic relations. He highlighted Switzerland’s significance as a valued trade and investment partner to the UAE, emphasizing its status as the leading European destination for UAE non-oil trade exports.

The Minister underscored the substantial increase in bilateral trade, which exceeded US$22.3 billion in 2023, reflecting a 41.2% surge from the previous year. This exponential growth underscores the synergy between the two economies and their shared vision for long-term, sustainable economic prosperity.

Dr. Al Zeyoudi also emphasized the potential for greater economic integration, citing recent collaborations in fields such as alternative fuels, trade finance, biotech, and med-tech research. He promoted the advantages of the UAE’s dynamic business landscape, including its strategic location and world-class infrastructure, to Swiss businesses seeking expansion into Asian and African markets.

Moreover, the delegation visited prominent Swiss private-sector companies, including the headquarters of pharmaceutical giant Novartis and aircraft manufacturer Pilatus. Discussions centered on potential partnerships aligned with the UAE’s Emirates Drug Establishment and efforts to bolster advanced manufacturing capabilities in the nation.

The visit also highlighted the UAE’s NextGen FDI program, which aims to facilitate the establishment or expansion of cutting-edge companies in the UAE. Swiss cybersecurity firm Zendata’s participation in the program exemplifies the UAE’s commitment to attracting innovative companies from around the world.

The UAE delegation, comprising executives from various high-growth industries, engaged in fruitful discussions with Swiss counterparts, exploring avenues for collaboration and investment across sectors such as banking and finance, aviation, healthcare, and advanced technology.

In summary, the visit reinforced the strong economic relations between the UAE and Switzerland, laying the groundwork for enhanced collaboration and mutual prosperity in the years to come.

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