Dubai-UAE: 11 September, 2014 - His Excellency Mohammad Ahmad Al Shehhi, Undersecretary for Economic Affairs, Ministry of Economy, today met His Excellency Daniel Sloper, Australia’s Special Representative for the G20 summit that is scheduled to take place from 15 - 16 November at Brisbane, Australia. During the meeting, the two sides discussed Australia ongoing preparations for the G20 summit and its vital role in contributing to the development of international trade. Challenges facing the global economy and the G20’s efforts to aid global growth in the aftermath of the global financial crises were also discussed. His Excellency Mohammad Al Shehhi said: “The UAE enjoys strong ties with Australia and we are keen step up our synergies with the Australian Government in areas of mutual interest. We are also working to overcome obstacles that hinder the flow of public and private sector investments. Such discussions will ensure we maintain strong and consistent bilateral trade.” Al Shehhi said that the most effective way to stimulate global economy is to improve conditions for international trade and investments while individual countries work on reinforcing their local economies. Al Shehhi said that the UAE economic approach is based on developing and diversifying national economy, developing the legislative environment, and adopting best international standards and practices. The G-20 economies collectively account for around 85% of the gross world product (GWP), nearly 80% of world trade and two-thirds of the world population. The G-20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008. Russia currently holds the chair of the G-20 and served as hosts for the eighth G-20 summit in September 2013. The ninth edition this year will be chaired by Tony Abbott, Prime Minister of Australia.
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