UAE Delegation Visits Czech Republic To Enhance Bilateral Ties

A high-level delegation from the UAE held meetings with officials from the Czech Republic in Prague to discuss enhancing bilateral cooperation between the two countries. The UAE-Czech Business Forum also involved a discussion of key sectors of mutual interest and potential trade opportunities.

Led by Minister of State and Abu Dhabi Global Market Chairman Ahmed Ali Al Sayegh, the UAE delegation included Assistant Minister for Economic and Trade Affairs Saeed Mubarak Al-Hajri; Federation of UAE Chambers of Commerce and Industry President Abdullah Al-Mazrouei; and senior representatives of Emirati ministries and firms from both the public and private sectors.

Meanwhile, the Czech Republic was represented by Prime Minister Petr Fiala; Minister of Industry and Trade Jozef Sikela; Minister of Finance Zbynek Stanjura; Foreign Affairs Deputy Minister Jiri Kozak; Office of the President Head Jana Vohralikova; and National Security Adviser Tomas Pojar.

During the forum, Al Sayegh witnessed the signing of the Avoidance of Double Taxation Agreement between the UAE and the Czech Republic. In a statement following the signing, Al Sayegh said the agreement reflects the keenness of both nations to expand their relations, state news agency WAM reported on Sunday.

"The signing of this agreement and the keenness to establish a Joint Economic Committee, as well as the exchange of high-level visits, reflect the mutual desire of the UAE and the Czech Republic to deepen bilateral relations which extend for more than three decades, in all fields, particularly in economy and trade," he said.

He also touted the status of the UAE as one of the Czech Republic's biggest economic partners, with their non-oil trade exchange having exceeded US$1 billion in 2002. He also highlighted the increase in Czech Republic's investment in the UAE.

"The convening of the UAE-Czech Business Forum reflects the ever-expanding bilateral relations between the UAE and the Czech Republic, particularly in economic sectors, which have experienced significant growth recently in the wake of the signing of the agreement for economic, commercial, and technical collaboration in January 2022. The agreement heralded a new chapter of strong economic ties that will support plans for sustainable economic growth in the two countries," said Al Sayegh.

Aside from signing the Avoidance of Double Taxation Agreement, the UAE-Czech Business Forum also saw the creation of a joint action plan that will advance bilateral cooperation in priority sectors for both countries. It also saw the establishment of joint working groups to explore opportunities in various sectors.