|02-03-2015, 02:05 AM||#1|
Sheikh Mohammed: `The UAE economy is one of the strongest in the world`
The Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum, said today the country is one of the "strongest in the world" as the economy continues to strengthen on a relatively moderate pace.
Sheikh Mohammed said he will facilitate cross-border trade by simplifying administrative and documentation requirements to boost further the economic cycle of the country, its business activity, its trade, connection with the world and its growth.
He also said that the UAE`s government will continue to be a safe attractive destination for new businesses, trading and new foreign investments.
"The Emirati economic model is a sustainable and responsible one ensuring a long-term prosperity for its citizens and residents alike," he added.
United Arab Emirate (UAE) business activity edged up in December, marking the second-highest record since compiling data for the first time five years ago, as new orders saw a remarkable improvement, according to the HSBC Purchasing Managers Index (PMI).
The data indicates that the UAE economy is likely to continue its growth in the fourth quarter, despite the recent fall in oil prices and weak global demand.
The second-biggest Arab economy expanded by 4.8 percent in 2014 and 4.5 percent this year, the International Monetary Fund (IMF) said in its World Economic Outlook report released in October.
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