The first-ever Australia-United Arab Emirates Business Council aimed at deepening bilateral trade and investment and expanding opportunities for Australian and UAE businesses was launched in Sydney yesterday (December 1).

Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, followed the Australian Prime Minister Scott Morrison in welcoming the launch of the Business Council, reported Emirates news agency Wam.

'Since the establishment of diplomatic relations in 1975, the UAE and Australia have been bound together by strong and longstanding ties, ranging from trade, tourism, investment, and culture, to people-to-people contacts, ultimately leading to a mutual benefit for both our nations,' said Dr Anwar Gargash in a video message.

'I would like to welcome the decision to inaugurate this Business Council despite the pandemic. I truly believe that this Council will accelerate the growth of our economic cooperation in the years to come, as well as enhance investment and trade exchange,' he added.

The launch was also attended by the UAE Ambassador to Australia, Abdulla Al Subousi, the Australian co-chair, the Hon Christopher Pyne, and the UAE co-chair, Badr Al-Olama, who provided a video message of support from the UAE.

Australian Co-Chair Pyne said that the establishment of the business council was long overdue for the two nations.

'I was surprised to learn during my time in politics that there has never been a business council before between Australia and the UAE. Our countries have so much to offer each other and it is our interest to promote mutual prosperity,' said Pyne.

'The Council will allow Australian and Emirati businesses an unparalleled chance to connect with decision makers in both government and enterprise to better foster and understand future requirements and opportunities.'

UAE Co-Chair Badr Al-Olama, said: 'Establishing an Australia UAE Business Council has long been overdue, since our two great nations have been great allies and great friends over the many years.

'The depth and breadth of this long-standing relationship is demonstrated by the standing of the UAE as Australia’s largest trading partner in the Middle East, and the appeal of Australia as one of the top real estate investment destinations for the UAE.'

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