Stronger trade relations between Netherlands and UAE

Meetings between Dutch Minister of Economic Affairs, Henk Kamp, and representatives of the United Arab Emirates (UAE) government will further strengthen trade relations between the two countries, with better protection of mutual investments and cooperation in the energy sector.

Opportunities for Dutch business

'The UAE’s economy has annual growth of four per cent, and this offers opportunities for Dutch businesses,' the Minister said. 'Through better protection of mutual interests, we will make The Netherlands more attractive for UAE investment, generating increased revenues and more jobs.'

Investment protection agreement to boost investments

To boost bilateral investments, the Minister signed an investment protection agreement with the UAE. This agreement guarantees better protection of UAE business investments in The Netherlands and vice versa. This can be very useful when applying for permits while also giving investors more rights in the event of a dispute with the government of the country in which the investment is made.

Seventh largest reserves of oil and gas

The UAE has the world’s seventh largest reserves of both crude oil and natural gas. Nonetheless, the UAE government would like to make more use of sustainable energy. Minister Kamp signed an agreement at the UAE Ministry of Energy for greater cooperation in the area of energy, paving the way for Dutch businesses to respond to economic developments in the UAE with their expertise in gas, sustainable energy and energy savings..

Agreements to intensify cooperation

During the Minister’s visit, new agreements were also signed to intensify cooperation between The Netherlands Organisation for Applied Scientific Research and the Petroleum Institute in Abu Dhabi. Both parties will share knowledge of smart technologies for extracting oil and gas. Representatives of accompanying businesses were able to get acquainted with ADNOC, the UAE’s national oil company, and the energy giant Taqa, the most important UAE investor in The Netherlands.

Most significant export market

ForThe Netherlands, the UAE is the most significant export market in the Middle East. In 2012, Dutch exports to the UAE amounted to three billion Euro. Dutch businesses are especially active in the oil, gas, infrastructure and agricultural sectors. The visit to the UAE was the final leg of a trade mission of 28 businesses that had previously visited Qatar.

Publication date: Mon 16 Dec 2013

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