UAE and ASEAN explore economic cooperation and halal industries

UAE and ASEAN Ministers Discuss Economic Cooperation and Halal Industries in Riyadh Meeting

UAE Minister of Economy, Abdulla bin Touq, and ASEAN Secretary-General, Kao Kim Hourn, convened in a bilateral setting in Riyadh, Saudi Arabia, to delve into a spectrum of economic matters. Highlighted in a press release by the Press Information Bureau (PIB), their discussions encapsulated pivotal areas including bilateral trade and investment, finance, and the burgeoning halal industries sector.

Within this high-level exchange, significant attention was directed towards fortifying economic cooperation between the United Arab Emirates (UAE) and the Association of Southeast Asian Nations (ASEAN). Recognizing the importance of fostering synergies, both ministers underscored the need for concerted efforts to augment collaboration across various economic dimensions.

A focal point of their deliberations was the exploration of avenues for enhancing engagement between the two entities, particularly with regard to small and medium enterprises (SMEs), which serve as crucial drivers of economic growth. Additionally, there was a concerted effort to capitalize on the potential inherent in the halal industries sector, recognizing its growing significance in global markets.

Moreover, discussions delved into the realm of finance, acknowledging the role of robust financial infrastructure in facilitating trade and investment activities. This included considerations for mechanisms to streamline financial transactions and enhance access to capital for businesses operating within the UAE and ASEAN member states.

Against the backdrop of the meeting in Riyadh, this bilateral exchange signifies a shared commitment to nurturing economic ties and exploring avenues for mutually beneficial cooperation. It reflects a strategic alignment between the UAE and ASEAN in leveraging their respective strengths to drive sustainable economic growth and development in the region.