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Sun 28 Nov 2010 12:10 PM

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UAE has handled the impact of the global financial crisis - Al Mansoori

Country proves its 'high competence' in handing consequences of the international financial crisis

UAE has handled the impact of the global financial crisis - Al Mansoori
(Getty Images)

The UAE has proven its competence in handling the impact of the global financial crisis, the Minister of Economy Sultan Bin Saeed Al Mansoori has said.

Speaking ahead of the World Economic Forum’s Summit on the Global Agenda, Al Mansoori said the country’s diverse economy had enabled it to better deal with the crisis, the official news agency WAM reports.

''The UAE has proven high competence in handing consequences of the international financial crisis. The UAE is one of the few countries that managed to adopt remarkable flexibility in dealing the crisis thanks to its vibrant and dynamic economy and the bald measures its government has taken in that respect,” he was quoted as saying.

The Summit on the Global Agenda is being held for the third time in the UAE between November 28 and December 1, and will form the basis for next year’s Davos summit.

''It has become necessary under the globalisation era to synergise efforts and activate constructive dialogue and float new creative ideas in order to come out with positive results conducive to building a solid base for tackling various world present and future challenges and changes,'' Al Mansoori said.