UAE economy still sound

Sheikh Mohammed announces Dubai economy still stable.

The UAE economy has been and is still sound and the government is handling the fall out of the global financial crisis with patience and wisdom, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has announced.

Sheikh Mohammed, the vice president and prime minister of the UAE, called for greater constructive cooperation and coordination among financial and banking institutions around the world to mitigate the negative consequences of the crisis on the development programmes in different countries of the world.

He made his comments during talks with visiting chairman of the US Senate Finance Committee.

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