The UAE on Saturday agreed to establish a joint economic committee with Spain during a state visit by King Juan Carlos to the Gulf state.
Trade ministers signed a memorandum of understanding (MoU) for the creation of the new body, while further agreements were inked on cooperation in air services, and to exempt visa requirements for holders of diplomatic passport, according to the official Wam news agency.
A further military agreement covering the fields of training and research would also be reached during the trip, said UAE President Sheikh Khalifa bin Zayed Al Nahyan in an earlier interview with the Spanish News Agency.
“We are keen to develop relations with Spain in various areas,” Sheikh Khalifa said, adding Spanish companies were welcome to invest in the UAE across the industry, tourism and energy sectors.
Spain could also become the UAE’s gateway to Latin America, he added, saying: “We look forward to cementing ties with these countries, using our close friendship with Spain.”
A recent double taxation agreement would bolster economic cooperation between the two countries, Sheikh Khalifa said, adding that since 2005 there had been a steady growth of 30% in trade volume which hit a total of 2.34 billion dirhams ($637.1 million).
Follow us on
