UAE trade mission led by economy minister

A trade mission organised by Dubai Chamber of Commerce and Industry is leaving for Prague, the first stop in a tour to Czech Republic and Slovakia between 20-24 April during which it will explore joint investment opportunities and discuss the setting up of strategic partnership in several promising sectors.

The trade mission is led by Sultan Al Mansouri, Minister of Economy, and includes Hamad Buamim, President and CEO of Dubai Chamber, over 20 other officials of the chamber as well as business leaders. Its aim is to discuss investment opportunities with the friendly countries, as well as to support national efforts to promote the competitiveness of UAE businesses in general and in Dubai in particular in the overseas markets.

Al Mansouri said, "We express our gratitude to Dubai Chamber officials for their efforts in organising this trade mission as the Ministry of Economy supports all outstanding national initiatives to enhance bilateral cooperation with various friendly countries in the world. This also contributes to attracting foreign direct investments to the UAE while strengthening the presence of local companies in emerging markets besides providing them unprecedented opportunities for expansion and growth in the global business arena.

"We enjoy very good friendly relations with the Czech and Slovak Republics and this trade mission with its aim to strengthen economic cooperation is in line with the strong political relations enjoyed by the three countries," said Al Mansouri.

He added, "Trade with the Czech Republic amounted to US$454.4 million in 2013, while with the Slovak Republic, it valued at US$202 million in the same year. We expect these figures to improve in the near future by exploring mutual investment opportunities and through strengthening the presence of Czech and Slovakian products in the UAE markets and vice-versa."

Buamim added that the trade mission will help explore joint investment opportunities and will lay the foundation of a strong partnership between the business communities of the UAE, the Czech Republic and Slovakia as the trade mission is also a part of the ongoing strategy of the Chamber in promoting the competitiveness of UAE businesses in emerging markets of the world.

He further stated that Dubai can be a hub for Czech and Slovakian companies wishing to enter the markets of the Middle East, Southeast Asia and the African continent due to its strategic location and logistics and infrastructural benefits offered to investors as he also stressed on the Chamber's commitment to enhancing the competitiveness of Dubai's business community by supporting their investment outreach in lucrative global markets.

The trade delegation to Czech Republic and Slovakia also includes Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary for Economic Affairs, UAE Ministry of Economy; Humaid Mohammad bin Salem, Secretary-General of the UAE Federation of Chambers of Commerce and Industry; Jamal Al Hai, Chairman and Owner of Al Hai Group; Yahya Saeed bin Ahmed, CEO, S.S. Lootah Group; Mohammed Abdul Rahim Al Fahim, CEO of Paris Gallery; Abdullah Sharafi, President of Gerab National Enterprises; Ahmed bin Eisa Al Serkal, Vice Chairman of Nasser Bin Abdullatif Al Serkal Est.; Ismail Akil Abbasi, Chairman of Abbasi Group of Companies; and Pavel Foubik, President of the Czech Business Council which operates under the umbrella of Dubai Chamber.

The trade delegation, which consists of businessmen from the sectors of .real estate, construction, textiles, automobile, finance, oil and gas and heavy industries, healthcare, tourism and hospitality , will attend business forums, bilateral meetings and roundtable discussions on mutual investment opportunities in promising target sectors, especially in tourism, health care, infrastructure, industry and health tourism with prominent Czech and Slovakian officials and will be followed by site visits.
Source: WAM