Dubai Chamber readies delegation for CIS Regional Trade Mission

The Dubai Chamber of Commerce and Industry has finalised its preparations for sending out a business delegation on the CIS Regional Trade Mission starting on June 2 in Kazakhstan and concluding on June 5 in Uzbekistan. The trade mission will explore investment opportunities in the Commonwealth of Independent States and beyond.

To apprise the participants with the objectives and the importance of the trade mission, Dubai Chamber hosted a pre-mission briefing at its premises recently. The session was attended by H.E. Abdul Rahman Saif Al Ghurair, Chairman, and H.E. Hamad Buamim, Director General, Dubai Chamber, as well as H.E. Askar Shokybayev, Consul General of the Republic of Kazakhstan in Dubai and Northern Emirates, Mr. Mokhir Shagazatov, Commercial Counsellor, Embassy of the Republic of Uzbekistan in the UAE, and members of the trade delegation.

In his welcome address, H.E. Buamim informed that the CIS Regional Trade Mission is part of Dubai Chamber’s new strategy to explore promising markets of the world while enhancing the competitiveness of Dubai businesses abroad.

H.E. Buamim said: "As part of our new strategy, Dubai Chamber has participated in 19 overseas events held in 16 cities in 15 different countries of world in the first quarter of the year, and is now sending a trade mission comprising of business leaders from various economic sectors of Dubai wanting to expand their business interests in the CIS regional markets.

The trade mission is also in line with our strategy to enhance the competitiveness of Dubai businesses by providing them new opportunities for growth and development," he added.

The Director General of Dubai Chamber informed that the Chamber-organised Country Focus Briefing on Kazakhstan last year highlighted the investment opportunities in the country’s potential investment areas including transport, trade, natural resources, energy, construction, tourism, agriculture and food processing, which are attractive sectors for UAE investors.

He urged the business delegation to explore assets in Kazakhstan and Uzbekistan and to attract their successful businesses to Dubai to secure new investment to the emirate which provides a favourable business environment and an easy access to the GCC, South East Asian, Middle Eastern and African countries.

He wished all the success to the trade mission which he said will have positive outcome with new agreements which will help establish a new chapter in the bilateral relationship between the two regions.

H.E. Askar Shokybayev, Consul General of the Republic of Kazakhstan in Dubai and Northern Emirates, stated that this strategic trade mission is an opportunity to enhance our bilateral relations with the UAE which goes back to 20 years as we now have 10,000 Kazaks studying and living in Dubai and this visit will boost the ties further.

He said that the delegation will have opportunities arising from the hosting of Expo 2017 in Astana as the country needs expertise for construction projects to build venues for the expo as he invited UAE businesses to enter his country’s market which he said is a corridor between China and Eastern Europe.

H.E. Shokybayev added that Kazakhstan’s ranking in the ease of doing business rose from 63 in 2010 to 47 in 2012, while the volume of FDI into Kazakhstan is USD 132 billion and the country’s investments abroad is around USD 15 billion as the country offers a number of investor protection laws and policies to boost foreign investments.

On his part, Mr. Mokhir Shagazatov, Commercial Counsellor, Embassy of the Republic of Uzbekistan in the UAE, highlighted the benefits of investing in Uzbekistan which he said has witnessed a GDP growth of 2.5% last year as well as an increase of 15% in its exports.

He also informed that FDI investments in Uzbekistan are 79% and called upon UAE investors to establish partnerships with his country and to benefit from its rewarding investment potential.

The Dubai Chamber CIS Regional Trade Mission to Kazakhstan and Uzbekistan is led by H.E. Abdul Rahman Saif Al Ghurair, Chairman, and includes over 25 Dubai-based businessmen interested in investing in various lucrative sectors of the region.

The trade delegation will hold several meetings with key ministers and private sector representatives and will also participate in business forums and a site visit to Astana’s Special Economic Zone in Kazakhstan.

Having opened its first representative office in Azerbaijan, Dubai Chamber is looking forward to expand in the region hence the main objectives of the regional trade mission are to help establish new contacts, explore areas of synergy, and to promote Dubai as a business and investment hub.