|
|
|
| |
| A comprehensive guide
to current and future events and exhibitions in the UAE |
|
Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
|
|
Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
|
|
UAE, Sweden share same views on investment, transparency, combating terrorism: Swedish minister
posted on 29/02/2008
 Sweden welcomes investments from sovereign funds from around the world including the United Arab Emirates and other Gulf countries, Swedish Minister of Financial Markets and Local Government Mats Odell told WAM.
Odell is in the UAE on a current 4-day visit which he concluded on Wednesday with a visit to Dubai where he also discussed the Nasdaq Stock Market, Inc's combination with OMX AB, creating the world's largest exchange company, The NASDAQ OMX Group, Inc. The deal with the Scandinavian and Baltic stock exchange group was completed on February 15th.
NASDAQ OMX Group which has operations around the world, spanning developed and emerging markets has sold its entire stake in Swedish stock exchange operator OMX AB to NASDAQ Stock Markets Inc.
Odell's remarks came after a series of meetings and talks with a number of UAE senior officials in Abu Dhabi and Dubai which he said are aimed at further boosting investment and financial cooperation between the UAE and the Nordic country.
During his visit, the Swedish minister met with senior UAE officials including Minister of Foreign Trade, Minister of Economy, Governor of the UAE Central Bank, Chairman of the Department of Planning and Economy -Abu Dhabi, Chairman of Abu Dhabi Securities Market, chairman of Dubai Securities Market, Dubai International Financial Exchange (DIFX) and Chairman of Borse Dubai and Dubai Financial Market (DFM).
But on the other hand, continued the Swedish minister, we ( in Sweden)have demands on transparency and I have been discussing this with several (UAE) officials", Odell remarked.
Swedish and UAE officials have the same views on this matter, Odell told WAM at a reception hosted by the Swedish Embassy in Abu Dhabi.
The Swedish minister said a delegation from the emirate of Abu Dhabi is expected in Stockholm next June or may to hold talks with Swedish authorities on investment as well as "to further develop our relations and friendship." He said the his meetings with senior UAE officials in Abu Dhabi and Dubai discussed cooperation and potential investment opportunities in the UAE and Sweden as well as ways to further promote trade and investment between the two countries.
Demanding transparency, clarified Odell, means "presenting a clear agenda so Swedish government knows and understands the ambitions, strategies, visions of an investment and also whether the investment is planned to be a long-term or a short-term one." Transparency also implies having l values in the investment (in Sweden), he said stressing that Sweden and UAE share the same views on this matter.
The Swedish senior official added that being transparent also entails having clear views on governance as well as the extent of the potential investor's interference in the concerned investment or company.
Abu Dhabi funds are prepared to be transparent" with regard to potential investment in Sweden which has a very good experience with sovereign funds, he stressed.
Such investments, he noted, contribute to the welfare of the peoples of investing as well as recipient countries, in this case Sweden and UAE.
As regards combating money laundering as well as funding terrorism, the Swedish Minister said his country is following very clear international rules and has its own very strict rules.
However, Odell said, "this has not been a problem here and our investment relations with the UAE are getting fresh momentum on the high levels." Expressing comfort at the outcome of his UAE visit, Odell said "my personal feeling is that I am impressed by the personalities I met (in the UAE)." Odell who is the third senior Swedish official to visit the UAE in less than six months for talks on investment relations reiterated his country's interest in expanding financial and investment relations and cooperation with the UAE.
In November 2007, the Swedish Minister of Trade Ewa Bjorling held a series of meetings Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, former Minister of Economy Sheikha Lubna Al Qasimi, Minister of Higher Education and Scientific Research Sheikh Nahyan bin Mubarak Al Nahyan and other senior officials. – Emirates News Agency, WAM
RELATED ARTICLES
Maktoum bin Mohammed receives Lord Mayor of London - 08 February 2010
Lord Mayor seeks further links with UAE - 08 February 2010
President confers first Class Independence Order on former Australian Ambassador to UAE - 07 February 2010
Abdullah bin Zayed holds meetings with senior Australian officials - 07 February 2010
UAE and Australia sign MoU - 07 February 2010
RETURN TO MAIN NEWS PAGE | WAM
UP TO THE MINUTE NEWS
| |
Home
