British Business Group and Iraqi Business Council co-chair Abu Dhabi Business Forum 2011
The British Business Group (BBG) and Iraqi Business Council (IBC) yesterday co-chaired the prestigious Abu Dhabi Business Forum. The [eleventh] annual Business Forum took place at the Fairmont Bab Al Bahr Abu Dhabi and was attended by hundreds of business representatives from the 27 national business groups in Abu Dhabi.
The forum, which was held in conjunction with the Abu Dhabi Chamber of Commerce and Industry, aimed to foster a greater understanding of the way relationships between the various business communities that operate in Abu Dhabi, could be improved and strengthened.
The event was attended by Lord Marland, the United Kingdom’s (UK) Parliamentary Under Secretary of State at the Department of Energy and Climate Change and H.E. Mohamed Thani Al Romaithi, President of the UAE Federation of Chambers of Commerce and Chairman Of Abu Dhabi Chamber.
Discussion at the forum focused on this year’s theme, ‘Abu Dhabi – Forty Years at the Heart of the Region’, but for many countries, the relationship with Abu Dhabi and what is now the United Arab Emirates (UAE), dates back much further than the nation’s 40 years.
Speaking at the event, Chairman of the British Business Group, Peter Michelmore said:
“It is an enormous privilege for the British Business Group to be co-chairing this year’s Abu Dhabi Business Forum. Britain is fortunate to have an incredibly strong relationship with Abu Dhabi having worked side by side with the Rulers of the emirate for centuries. It places enormous value on its long-standing business relationship with Abu Dhabi and the UAE, both as a partner and market in its own right. British business in the UAE is interwoven with this proud nation’s 40 year history; from the first oil prospectors in the late 1960s to the property and tourism boom of the 21st century, British business has been proud to play its part in this phenomenal growth story.
Mr Michelmore continued: The UAE is host to 100,000 of the 160,000 Britons who live in the Gulf, and one million Britons travel here every year, a significant proportion come for business. The UAE is Britain’s largest export market in the Middle East for non-military goods and we estimate that there are over 4000 British businesses operating in the UAE. Events like this forum are an excellent way for those 4000 businesses to foster new relations and reaffirm those that already exist.”
Itidal Hasoon Al Sheikh, Chairman of the Iraqi Business Council, said:
“It is with pleasure and pride that we would note the brotherly support of the United Arab Emirates leadership for our country and its people and would, in this connection, thank our UAE brothers for supporting the Business Councils, including the Iraqi Business Council and thereby helping the cause of positive development of the trade and industrial sectors in the UAE and in the countries that these Business Councils represent.”
Abu Dhabi is seen as the entry point to markets in the rest of the Gulf and Middle East, Central and South Asia and Africa and Abu Dhabi’s continued investment into its import and export infrastructure, makes it the principal hub between Europe and Singapore.
Britain’s special relationship with Abu Dhabi and the UAE has led to numerous reciprocal trade agreements between the two countries and a deep mutual understanding of each other’s cultures and shared values. Just last year the two countries signed a memorandum of understanding during the State visit of Her Majesty Queen Elizabeth II to the UAE, on consular cooperation to help increase tourism, institutional co-operation, and friendship.
Speaking at the forum Lord Marland said:
“British nationals have helped drive prosperity and development in the UAE and have been involved in some of the country’s most iconic projects, such as the Sheikh Zayed Grand Mosque and Abu Dhabi’s spectacular Formula One. Emirati nationals have made an equally impressive contribution to British business both within the UAE and in Britain itself.
Lord Marland continued: Investment in sustainable energy projects such as the London Array, the world’s largest consented offshore wind farm and DP World’s London Gateway Project, which is due for completion in Q4 2013 and will be Britain’s newest deep sea container port, highlight the important investment the UAE is making in Great Britain and its commitment to this very special relationship.”
Lord Marland is leading a British delegation to the UAE which includes:
• Lord Sassoon, Commercial Secretary, Her Majesty’s Treasury
• Baroness Symons, Chairman of the Arab British Chamber of Commerce
• The Right Honourable Nicholas Soames MP
This Abu Dhabi Business Forum 2011 was also attended by:
• H.E. Mohamed Thani Al Romaithi, President, Abu Dhabi Chamber
• H.E. Abdullah Ahmed Al Saleh, Undersecretary, Ministry of Foreign Trade
• H.E. Mohamed Omar Abdullah, Undersecretary, Department of Economic Development
• H.E. Khalfan Al Kaabi, First Vice President, Abu Dhabi Chamber