Dubai and El Salvador enter new era of economic cooperation

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        'caption' => 'Vice President of El Salvador, Ana Vilma De Escobar with Sultan Ahmed Bin Sulayem, Chairman, Dubai World.',
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The delegation leader and Vice President of El Salvador, Ana Vilma De Escobar, discussed the issues with Sultan Ahmed Bin Sulayem, Chairman, Dubai World.

Ports and infrastructure development topped the agenda, with particular focus on the possibility of DP World's involvement in developing and managing port projects along El Salvador's east coast.

The talks were attended on the Salvadorian side by Javier Hernandez, Minister of Foreign Affairs, and Jose Ruben Rochi, Minister of Tourism among others.

The Dubai World delegation included Jamal Majid Bin Thaniah, Vice Chairman, DP World, and Mohammed Sharaf, CEO, DP World.

Mr. Bin Sulayem welcoming the Vice President said:

'Our global vision ties in with that of El Salvador where forward thinking is helping to develop the country's economy. Dubai World is eager to explore areas of cooperation between the two sides. We are confident that today's talks would lead to mutually beneficial agreements.'

El Salvador's economy has recently been experiencing an upturn because of the Government's free market initiatives and conservative fiscal management including the privatization of banks, telecommunications, public pensions, and power generation and distribution.

Vice President De Escobar praised Dubai's vision and said there was considerable potential for cooperation: 'Currently, our country is looking at Foreign Direct Investment as a way to improve our economy and the main purpose of this visit has been to gauge how best we can change ourselves to match the needs of today's global business climate. We welcome Dubai World's expertise in developing our ports and tourism projects, and are looking forward to a long and fruitful partnership.'

El Salvador has built itself a chain of fifteen free trade zones to leverage its location between the North and South American continents. It is currently developing port projects in La Union on its Atlantic coast.