Dubai is strategically placed to play a vital role in the reconstruction of Iraq, according to Abdul Rahman Al-Mutaiwee, director general of the Dubai Chamber of Commerce and Industry (DCCI).
Speaking at the opening today of the 8th Automotive Aftermarket Middle East (AAME) exhibition—Dubai’s annual international trade show for vehicle parts, accessories, tires, batteries and garage equipment—Al-Mutaiwee said Iraq represented a huge business opportunity for local, regional and international companies.
“Dubai has the capability and experience necessary to take a leading part in the rebuilding of Iraq. We expect to see a big increase in exports and re-exports as reconstruction gathers pace, “he stated.
“Iraq is effectively a new market, not just for the autoparts industry. There will be opportunities in all commercial sectors and Dubai, as the leading regional trading hub, is ready to play its part in helping put Iraq’s economy back on its feet.”
Al-Mutaiwee said exhibitions, such as AAME 2003, underline the key role Dubai plays in the development not only of the United Arab Emirates (UAE) economy but the region as a whole. Industry sources estimate the Middle East spare parts and accessories trade is worth eight billion dollars and is expanding at five percent annually. The value of re-exports from Dubai is put at $1.5 billion.
“The show is substantially bigger than last year. This, combined with the presence of so many international exhibitors, especially from Turkey, Iran, China and the Sub Continent, demonstrates the importance of the Middle East market globally,” Al Mutaiwee said. “Many of the companies not only want to increase regional exports but are also looking to establish local offices.” — (menareport.com)
© 2003 Mena Report (www.menareport.com)
