Sarkozy hails UAE as 'major trade partner'

French President Nicolas Sarkozy declared France a ‘major trade partner’ with the UAE on Sunday, strengthening ties between the two countries.

His two-day visit to the UAE, starting on Sunday, will mark the opening of a new French military base in Abu Dhabi, state news agency WAM reported.

The French head of state is expected to meet UAE ruler President Sheikh Khalifa bin Zayed Al Nahyan to tackle the global crisis, Iran’s nuclear programme, the Middle East conflict and promote bilateral cooperation.

French exports to the UAE have tripled in the last 10 years with the Gulf Arab country receiving half of France’s investment to the region, Sarkozy said.

“The ambitious policies of the UAE authorities over the last years paved the way for dynamic, open diversified economy,” Sarkozy said.

The French President first visited the UAE early last year where plans to set up the French military base were discussed.

On Iran’s nuclear programme he said: “The Iranian crisis is frankly one of the issues threatening world security. My position was clear and I still persist that owning of Iran of nuclear weapons is not acceptable.”

Sarkozy said Iran would face further isolation if it ignored calls from the international community to stop its nuclear programme.

He called on Israel to stop building settlements in the West Bank and said an ‘independent, democratic, modern and viable’ Palestinian state was the ‘best guarantee’ for Israel’s security.

“What is important is to find solution to this long conflict,” he said.

“What is important is to put an end to this pain and wastage. In this conflict, Europe and US will stand by Israelis and Palestinians as well to reach reconciliation, but there will be no peace without genuine and sincere will of the two sides. The peace is an option- no one could choose an alternative for peace,” he continued.

He re-iterated his pledge to tighten financial regulations following the global crisis.

''We have now evidently begun to implement the principle that rules no single financial institution should slip out of the financial control system. This also applies to all rating agencies and hedge funds which were not subject to any form of control,” he said.

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