dubai chamber promotes its services and role in supporting local business community before trade delegations from cyprus, ecuador, sweden, sri lanka, italy, vietnam & egypt
Dubai Chamber of Commerce & Industry introduced a number of its value-added services provided to its members and the business community in Dubai, as well as its leading role in enhancing the strategic importance of Dubai as an international business hub in this region, in front of several Arab and foreign business delegations who visited the Chamber this week and showed interest in learning about the procedures of setting up business in Dubai and the investment opportunities offered by the city.
HE Obaid Humaid Al Tayer, Chairman of Dubai Chamber, received a trade delegation from Sweden led by HE Ewa Bjorling, newly-appointed Minister of Foreign Affairs & Economy in Sweden, along with a number of government officials and representatives of trading sector. Al Tayer briefed the Swedish delegation on some elements of the economic development in Dubai and the key role played by Dubai Chamber in strengthening the relations of Dubai business community with their counterparts all over the world, through providing them with quality services and introducing them to the available investment opportunities.
The UAE is the second largest trading partner for Sweden in the Gulf region after Saudi Arabia. More than 113 Swedish companies operate in Dubai and registered at Dubai Chamber. Dubai’s non-oil foreign trade with Sweden reached AED 2 billion ($ 544.5 million) in 2006.
On the other hand, HE Hisham Abdullah Al Shirawi, Vice Treasurer and Board Member of Dubai Chamber, also received another delegation from Ecuador led by HE Antonio Ruales, Vice Minister of Foreign Trade, along with representatives of a number of top Ecuadorian companies. Al Shirawi said that although there are no Ecuadorian companies registered at Dubai Chamber, Dubai’s non-oil foreign trade with Ecuador reached AED 17.3 million ($ 4.7 million) in 2006. He called upon the Ecuadorians to set up new businesses in Dubai benefiting from the incentives and facilities offered by the government of Dubai to foreign investors.
Dubai Chamber also took part in the economic seminar which was organized this week by a Cypriot trade delegation at Grand Hyatt Hotel in Dubai on “Cyprus as an International Business Investment Center”. The Cypriot delegation was led by HE Antonis Michaelides, Minister of Commerce, Industry & Tourism in Cyprus, along with representatives of leading Cypriot companies in banking, finance, insurance, legal and accounting affairs, information technology, consultancy, real estate, advertising and printing, construction and civil and architectural engineering, maritime and tourism.
Al Shirawi pointed out that the visit of the Cypriot delegation and the seminar they organized provide a platform to exchange expertise and ideas about the effective ways of bilateral commercial cooperation. He stressed the coordinative role of Dubai Chamber with the Dubai-based Cyprus Trade Center in enhancing bilateral trade volumes, as Dubai’s non-oil trade with Cyprus reached AED 475.6 million ($ 129.5 million) in 2006, in addition to the center’s role in attracting more Cypriot companies to Dubai whose number surged to 77 and are all registered at Dubai Chamber.
On the other hand, Dubai Chamber received a trade delegation from Sri Lanka led by HE Nissanka N. Wijerante, Secretary of the Ministry of Construction & Engineering Services, accompanied by a number of representatives of major Sri Lankan companies. The meeting discussed ways of cooperation between the Sri Lankan businessmen and their counterparts from Dubai in the development of real estate and construction. There are more than 122 Sri Lankan companies operating in Dubai and registered at Dubai Chamber. In 2002, Dubai Chamber has earlier signed an agreement of cooperation with Ceylon Chamber of Commerce. Thanks to the cooperation between Dubai Chamber and the Dubai-based Sri Lankan Business Council and Ceylon Tea Promotion Office, Dubai’s non-oil trade with Sri Lanka increased to AED 1.2 billion ($ 332.6 million) in 2006.
Another trade delegation from Italy visited Dubai Chamber this week led by HE Dr. Giovanni Sini, President of the Chamber of Commerce of Sassari, accompanied with a number of Italian businessmen. The visit aimed at introducing the Dubai business community to the investment opportunities available in Northern Sardinia. They discussed with the Dubai Chamber officials the possibility of holding a business forum between Dubai and Sardinia in 2008 to further enhance commercial cooperation ties between the two countries.
Dubai’s non-oil trade with Italy reached AED 11 billion ($ 3 billion) in 2006. There are more than 155 Italian companies operating in Dubai and supported by two Dubai-based Italian Trade Centers and the Italian Business Council which operates under the umbrella of Dubai Chamber. Dubai Chamber had previously signed 3 MoUs with the Arab-Italian Chamber of Commerce & Industry and the Pesaro-Urabino Chamber of Commerce, Industry & Agriculture in 1998, the Chamber of Commerce & Industry of Vento Region in 1998, and the Federation of Italian Exporters and Importers in 2003.
This week, Dubai Chamber has also received a delegation from Vietnam led by HE Nguyen Thi Thank Nhan, Vice President of Vietnam Manpower Association, accompanied with a number of Vietnamese government officials. The meeting discussed ways of supporting bilateral trade relations and the possibility of exporting Vietnamese manpower to Dubai. Dubai’s non-oil trade with Vietnam reached AED 1.1 billion ($ 312.3 million) in 2006. The Chamber invited the Vietnamese companies to set up new businesses in Dubai in which only three Vietnamese companies are operating.
Dubai Chamber also received HE Mohamed Saad Ebeid, Egyptian Ambassador to the UAE, accompanied with HE Abdul Rahman Raouf, Egyptian Commercial Consular. The meeting discussed the ways to enhance bilateral economic relations. Dubai’s non-oil trade with Egypt reached AED 4.5 billion ($ 1.2 billion) in 2006. A total of 930 Egyptian trade companies are operating in Dubai.
