The United Arab Emirates' Economy Minister, Sheikha Lubna Al Qasimi, held recently a meeting in Tokyo with the Japanese Minister of Economy, Trade and Industry, Akira Amari and discussed with him ways to boost economic ties, investment and trade cooperation in view of the two countries' rapid economic growth. During the meeting which was held in the presence of UAE Ambassador, Saeed Ali Al Nuwais and members of the delegation accompanying the UAE minister, Sheikha Lubna stressed on the need to boost relations between the two countries, particularly in the areas of economy, trade, investment, industry and renewable energy, the UAE news agency "WAM" reported. She made a presentation of the UAE's economic development and the achievements of the UAE national economy last year. She said the UAE economy had witnessed a significant boom and achieved high economic growth rate in 2006 across all economic and social sectors in line with the country's economic diversification policy, adding that the UAE's gross domestic product (GDP) grew last year by 23.4% to reach Dh599 billion. "Although the UAE is the world's sixth oil producer, its economy does not rely much on oil revenue. The country has succeeded in its economic diversification policy with the non-oil sectors contribution to the GDP accounting for Dh376 billion last year," she stated, adding that the UAE remained Japan's number one trade partner in the region. --MORE
