The United Arab Emirates (UAE) and the Republic of Barbados have signed a Promotion and Protection of Investment Agreement in order to reinforce investor interest and expand the flow of investment.
The agreement further intends to strengthen the economic and trade ties between the two countries, as per the statement.
The agreement was signed on behalf of the UAE by Ms. Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, and by Mr. Kerrie Symmonds, Minister of Foreign Affairs and Foreign Trade, on behalf of Barbados.
Ms. Al Hashimy also met with Ms. Mia Mottley, Prime Minister of the Republic of Barbados, where both sides commended the growing bilateral ties between the two nations. During the meeting, they also emphasized the importance of establishing trade and economic relations, through enhancing market conditions and the exchange of expertise within the public and private sectors.
The two sides reaffirmed the importance of responsible and conscious investments that address environmental challenges.
Ms. Al Hashimy expressed her appreciation to Barbados for participating in COP28 and contributing to the event’s success.
The Promotion and Protection of Investment Agreement was exchanged on the sidelines of the 28th Conference of the Parties (COP28), currently taking place at Expo City Dubai. COP28 brings the world together at a pivotal, consequential moment in order to shape our collective commitment to climate action and to meet the globally agreed warming limit.
Earlier, Ms. Mottley participated in the World Climate Action Summit, which is held alongside the 28th Conference of the Parties.
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