Economy, Domestic Economy

UAE Invited to 3rd GECF Summit

UAE Invited to 3rd GECF Summit
UAE Invited to 3rd GECF Summit

Minister of Economic Affairs and Finance Ali Tayyebnia met with the United Arab Emirates’ deputy prime minister and minister of presidential affairs, Mansour bin Zayed Al Nahyan, in Tehran on Sunday.

During the meeting, the minister submitted President Hassan Rouhani’s invitation to Khalifa bin Zayed bin Sultan Al Nahyan, the president of the UAE to attend the Third Summit of Gas Exporting Countries Forum in Tehran.

“The summit will seek to find solutions to the problems regarding the use of gas and its resources,” stressed Tayyebnia, adding that the vital energy carrier plays a significant role in meeting the global demand for energy.

“The presence of officials from gas exporting countries in Tehran’s summit can elevate the global status of this forum,” he asserted while emphasizing the importance of expanding cooperation between Tehran and Abu Dhabi.

The Emirati official also lauded the “friendly” political, economic and trade ties between Tehran and Abu Dhabi.

The Third GECF Summit will be held in Tehran in the autumn of 2015. The leaders of 18 forum member states, including Iran, Russia, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, Peru, the United Arab Emirates and Oman, will attend the event. The member states account for 42% of world gas production, 70% of world gas reserves, 40 percent of gas pipelines and 65% of liquefied natural gas trade.