UAE FM: economic crisis in Dubai has ended

The foreign minister of the United Arab Emirates says the economic crisis in Dubai has ended. Sheikh Abdullah Bin Zayed al-Nahayan made the comments during a visit to the West Bank.

Sheikh Abdullah Bin Zayed al-Nahyan, foreign minister of the United Arab Emirates, said, "There was news two days ago that the Abu Dhabi and Dubai governments agreed to give 10 billion US dollars to Dubai. This affected the Emirates' stock markets positively around the world. It is also proof that the UAE remains committed to local governance to deal with the effects of the global economic crisis. I believe the global crisis will be behind us once the United States recovers, and we believe the US is recovering, which will reflect on other countries."

United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed al- Nahyan arrives at the closing ceremony of the Gulf Cooperation Council (GCC) summit in Kuwait's Bayan Palace December 15, 2009. REUTERS/Stephanie McGehee