SVG signs agreements to promote closer ties with UAE

The visit of a delegation from St Vincent and the Grenadines (SVG) to the first United Arab Emirates-Caribbean Cooperation Forum held in Dubai last month has facilitated the signing of three important agreements that will promote cooperation between SVG and the United Arab Emirates (UAE).

The Agreements are: (1) Agreement between the Government of SVG and the Government of the United Arab Emirates for the Reciprocal Promotion and Protection of Investments. (2) Agreement between the United Arab Emirates and the Government of SVG for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income and capital. (3) Participation Contract of EXPO Dubai 2020 between the UAE and SVG.

A release from the Ministry of Foreign Affairs said the conclusion of these agreements coupled with the recently concluded visa waiver agreement that was signed in May 2018 provide the mechanism for SVG to explore and develop initiatives and partnerships with businesses, the tourism and creative industries.

The Forum, which took place from November 24 to 26 and was attended by SVG, other CARICOM countries and the Dominican Republic was fully sponsored by the Government of the UAE. It explored the economic potential of future ties between the UAE and the Caribbean and provided an opportunity for senior business representatives and other high profile delegates to identify emerging drivers for effective partnerships that will yield mutual benefits between the UAE and the Caribbean.

The Forum was centred on the current economic and business related issues and advised on the key strategic directives for future economic growth between both regions.

The various representatives at the Forum discussed topics relating to the role of the private sector in building a connected and competitive future, renewable energy and green innovation: curbing climate change, embracing international cooperation, and the hosting of a successful Expo2020 to be held in Dubai.

The Vincentian delegation was headed by Sir Louis Straker, Deputy Prime Minister and Minister of Foreign Affairs, Trade and Commerce. Other members of the delegation included Camillo Gonsalves, Minister of Finance, Economic Planning, Sustainable Development and Information and Technology; Cecil Mckie, Minister of Tourism, Sports and Culture; Sandy Peters-Phillips, Permanent Secretary, Ministry of Foreign Affairs, Trade and Commerce; Glen Beache, CEO Tourism Authority; Anthony Regisford, Executive Director of the Chambers of Industry and Commerce; Shaunelle McKenzie, Cultural Ambassador, and Lance Oliver and Ruth Stevens from the business community.

The Government of Saint Vincent and the Grenadines remains committed to deepening relations with its bilateral partners for the benefit of all Vincentians.