UAE and Croatia explore ways to strengthen economic relations

Abdulla Bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Ante Šušnjar, Croatia’s Minister of Economy and Sustainable Development, to explore the strengthening of cooperation across various economic sectors.

The meeting took place during Bin Touq’s official visit to several European countries, aimed at strengthening partnerships and boosting cooperation in sectors such as the new economy, tourism, and advanced technology.

Bin Touq explained that the UAE continues to enhance its economic openness and diversify its global partnerships, including those with emerging economies in Europe. He noted that the UAE and Croatia have a common vision for collaboration in several key strategic sectors such as renewable energy, logistics, and creative industries, which presents opportunities for new partnerships.

He emphasised that both countries have great economic potential that can be leveraged, particularly in the tourism sector, which is one of the most promising industries in both economies. The sector provides valuable opportunities for exchanging expertise and experiences that set the UAE and Croatia apart in the global tourism and travel landscape.

Bin Touq highlighted that the meeting is happening at a time when both countries are focused on cultivating a flexible and attractive business environment for investment and fostering dialogue between their business communities. In this context, he urged the private sector to explore promising opportunities and develop communication channels between the UAE and Croatian markets, aligning with their shared aspirations for sustainable economic development.

The Minister of Economy said, “We look forward to exchanging best practices with the Croatian side in development policies, which will contribute to the sustainable development efforts of both countries, particularly in light of the recent growth in our economic and investment exchanges.”

In addition to discussing several key topics, the meeting also explored avenues for collaboration in infrastructure, logistics, and the exchange of expertise in the development of regulatory frameworks that support the new economy.

A day earlier, during a European tour that included Spain and Croatia, Abdulla Bin Touq Al Marri, UAE Minister of Economy, met with Tonči Glavina, Minister of Tourism and Sports of Croatia; and Rosario Sánchez Grau, Spanish Secretary of State for Tourism, with the aim of enhancing cooperation in the sector. As part of the discussions, the ministers exchanged the latest experiences and practices in the field of sustainable tourism development.

Bin Touq expressed the UAE’s desire to enhance cooperation with European markets and foster fruitful partnerships in various tourism sub-sectors and activities, thereby supporting overall economic development and creating new opportunities for shared prosperity.

He pointed out that the tourism sector in the UAE has undergone significant development, characterized by the adoption of forward-looking national initiatives; the establishment of distinguished tourism infrastructure in line with global best practices; the development of leading destinations and tourism products, and an increase in tourist inflows.

Bin Touq said: “The UAE continues to support initiatives and projects aimed at sustaining global tourism growth, fostering collaboration with the UN Tourism and its member states, and expanding cooperation in various tourism sub-sectors.”

During discussions with the tourism ministers of Spain and Croatia, Bin Touq highlighted the importance of the UAE Tourism Strategy 2031 and its key role in supporting the sustainability and competitiveness of the country’s tourism sector over the next decade.

The strategy has established a set of national objectives, which include elevating the UAE’s status to become a leading global destination, increasing the sector’s contribution to the national GDP to AED 450 billion, attracting tourism investments worth AED 100 billion to the country’s markets, and welcoming 40 million guests by the year 2031.

The Minister of Economy reviewed key performance indicators of the UAE tourism sector, which include a total of AED 45 billion in hotel revenues in 2024 with a three per cent year-over-year growth. The hotel occupancy rate in the country reached 78 %, which is among the highest regionally and globally. Additionally, 16 new hotels were launched across the UAE in 2024, taking the total number of hotels to 1,251 by the end of last year.

During his meeting with Rosario Sánchez Grau, Spanish Secretary of State for Tourism, Bin Touq reviewed latest developments in the global tourism sector, the mechanisms to enable sustainable growth, as well as enhancing cooperation in various tourism fields. The two sides explored the potential for establishing new partnerships to increase mutual tourism flows.

WAM