Sharjah and Neuchâtel explore innovation collaboration
Serving as a platform to showcase Sharjah's strategic position on the global investment map, the roundtable also underscored the UAE's proactive diplomacy in cultivating strong economic partnerships with Switzerland, reinforcing mutual growth and cooperation especially in manufacturing and technology.
During his keynote address, His Excellency Jasim Al Abdouli, Consul General of the UAE in Geneva, discussed the strong diplomatic and economic bonds between the UAE and Switzerland as well as the shared vision for sustainable growth and cross-border innovation. 'The UAE's strategic location and pro-business environment offer Swiss enterprises a gateway to Asia and Africa, and the strength of our economic ties is undeniable. In 2023, non-oil trade between the UAE and Switzerland reached $22.3 billion, a 41.2% increase from the previous year. Switzerland is the UAE's fourth-largest global trade partner and the leading European destination for non-oil exports, with key sectors including pharmaceuticals, advanced manufacturing, biotechnology, and sustainable energy. Together, we can pioneer solutions to global challenges, foster inclusive growth, and ensure that the future of UAE-Swiss relations are even more impactful.'
His Excellency Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, underscored the connection between the emirate and Switzerland and Sharjah's strategic advantages as a gateway to regional and global markets, saying 'The growing economic partnership between Sharjah and Switzerland is a clear testament to the strength of our international relationships. With a trade volume of around AED 84 million between our two regions, we see immense potential for even greater collaboration and mutual benefit. Both Sharjah and Neuchâtel share a deep commitment to fostering mutually beneficial commercial and investment partnerships. We are united in our interest in promoting innovative technologies, advanced manufacturing, and healthcare innovations.'
Opportunities beyond borders
Highlighting the potential for economic collaboration between Sharjah and Neuchâtel, Matthieu Aubert, Director, Neuchâtel Service of the Economy (NECO), Switzerland; and Marwan Alichla, Director of Investment Promotion & Support for Invest in Sharjah; presented the investment opportunities in their respective regions.
Marwan Alichla discussed Sharjah's key initiatives that make it an attractive business hub, noting, 'Sharjah's economic framework is designed to attract forward-thinking investors, and our robust infrastructure, pro-business regulations, and access to MENA markets make us a compelling destination for global enterprises looking to scale operations and establish a strong foothold in the region.' He also mentioned Sharjah's innovative business services with the addition of the world's first AI-powered business licence, and that the emirate provides Swiss businesses with ample opportunities to engage in high-impact commerce and enterprise.
Matthieu Aubert explored how Neuchâtel's heritage in precision engineering can complement Sharjah's manufacturing and high-tech sectors, saying, 'Our expertise in micro-engineering and precision technology, backed by our history in watchmaking over 300 years old, offers valuable insights for Sharjah's industrial growth. By integrating this legacy with Sharjah's ambitions, we can create innovative solutions with global relevance. Sharjah's balanced approach to industrial diversification and innovation-driven policies make it stand out as an ideal partner for Swiss businesses.'
Bilateral trade between Sharjah and Switzerland
Sharjah's economic partnership with Switzerland continues to gain momentum, underscored by a growing presence of Swiss enterprises in the emirate. Currently, there are around 250 Swiss companies operating within Sharjah's mainland and seven Free Zones, leveraging the strategic advantages of tax exemptions and streamlined logistics. Bilateral trade between Sharjah and Switzerland reached around AED 84 million in the past year, reflecting strengthened ties in sectors such as advanced manufacturing, technology, and sustainable energy.
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