(MENAFN - Khaleej Times) Sharjah Investment and Development Authority, also known as Shurooq, said the UAE is fertile ground for investment in various sectors.
Shurooq chief executive Marwan bin Jassim Al Sarkal, who received Argentine ambassador to the UAE Ruben Eduardo Caro at his office in Sharjah, highlighted investment opportunities in the UAE and Sharjah and said investors should take advantage of the emirate's strategic location and conducive government policies.
"The UAE enjoys a strategic location, offering a gateway to Asia and Europe's markets," Al Sarkal said. He also highlighted other benefits and privileges for Argentinian investors, including flexible legislation and rules.
Trade between Argentina and the UAE amounted to Dh1 billion (300 million) in 2011. Argentine exports to the UAE are expected to reach Dh6.7 billion (1.83 billion) over the next five years. Meat and poultry products constitute the largest share of Argentina's exports to the UAE.
The government of Argentina is currently planning to set up the first centre in Dubai to re-export Argentina's products to world markets. It is expected to be a global hub for exporting Argentina's agricultural, industrial, animal and fish products to markets in the UAE, the Middle East, Africa and South Asia.
During the meeting, Al Sarkal and Argentinian ambassador exchanged views and discussed avenues of cooperation with the aim of fostering channels of communication between the two parties in various fields. Al Sarkal underlined Sharjah's interest in strengthening avenues of economic cooperation with Argentina and expressed the hope that the visit would yield positive outcome.
He called for the need to enhance economic cooperation and explore further potential investment opportunities in order to build a promising investment and trade partnership between the countries. Argentine ambassador praised the impressive development witnessed by the UAE in all sectors, and lauded the privileges granted by investment laws to foreign investors in the UAE.
He expressed his profound appreciation to Shurooq for its effective role in supporting and boosting UAE-Argentina economic ties, adding that he hoped such meetings would yield a fruitful economic and investment partnership.
The Argentinian envoy invited the Shurooq CEO to visit Argentina to promote Sharjah's immense business potential and investment opportunities.