H.E. Sheikha Lubna bint Khalid Al Qasimi, minister of foreign trade, met with Tigran Sarkisyan, prime minister of Armenia, and discussed with him ways to enhance bilateral relations and cooperation, particularly in economic, commercial and investment fields.
Sheikha Lubna conveyed to Sakisyan greetings of Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
During the meeting, Sheikha Lubna underlined development and growth made by the UAE economy. She said the non-oil sectors' contribution in the country's Gross Domestic Product (GDP) reached 64 percent and mostly concentrated on services, infrastructure and industry.
She said that the UAE has ambitious plans for renewable energy projects, despite its position as one of the world's largest oil producers.
Sheikha Lubna also briefed the Armenian Prime Minister on the measures taken by the UAE to address fallout from the current global financial crisis, including provision of USD 32 billion loan facilities to the banks, Abu Dhabi's move to pump USD 3.4 billion in support to the emirate's banks and Dubai's step of issuing USD 20 billion bonds, half of which subscribed by the Central Bank.
Sheikha Lubna, who is heading a high level delegation from public and private sectors, expressed the hope that the UAE and Armenia will develop their economic and financial relations and increase their trade exchange.
