Dubai, 9 February, 2010: The Dubai Department of Economic Development (DED) and The German Emirati Joint Council for Industry & Commerce (AHK) organised a joint business networking meeting recently. The event aimed at discussing opportunities for investment and cooperation between businessmen from both countries and contributing to sustainable economic development in the emirate.

Over 200 representatives from major private sector companies and corporations attended the meeting, which highlighted the need for sustained cooperation in achieving viable and sustainable economic growth for Dubai. The meeting also saw discussions on enhancing communication between members of the Council of the Emiratis and the Germans and overcoming obstacles they may face in pursuing investment opportunities.

Representatives from DED including His Excellency Mr Sami Al Qamzi, Director General of DED, as well as CEOs of DED’s agencies - the Foreign Investment Office, the Export Development Corporation, Dubai Events and Promotions and the Mohamed Bin Rashid Establishment for SME Development - presented an overview of DED’s vision and mission and services for investors and businessmen.

“We are pleased to cooperate with AHK, which serves as the umbrella overseeing the economic and trade development, as well as exchange expertise and investment between the UAE and Germany. The meeting confirms Dubai and Germany’s keenness to find the appropriate mechanisms and vast investment opportunities available in both economies,” said Al Qamzi. “Businessmen and investors play a vital role in strengthening the relations between the two economies and this meeting supported the economic cooperation taking place in various areas.”

Al Qamzi confirmed Dubai government’s commitment to continue its diversification policy and create opportunities for German companies to establish more projects in the emirate. “Dubai and Germany enjoy strategic relations at all economic levels. The meeting contributed to promoting trade and economic relations between Dubai, which enjoys a leading position in the Gulf region, and Germany, the third largest economy in the world.”

“Through our various agencies, we will contribute to achieving DED’s objectives, supporting Dubai’s economy, and improving the investment environment to attract more foreign investments. Additionally, we continue to support small and medium enterprises, export development, and revitalization of the retail sector through our ongoing initiatives,” added Al Qamzi.

Dr Peter Goepfrich, CEO of the German Emirati Joint Council, welcomed the DED group and stressed on the importance of this event as a good opportunity for both German and Emirati companies to get acquainted with Dubai’s key governmental agencies that execute the DED’s strategies. “The interaction between economy and politics as well as economic management is very important. This is especially true in a relatively different kind of environment as in the UAE, in particular Dubai, which is indeed a regional and transitional trade hub to its neighboring countries in the Gulf and which under the influence of the latest acute economic situation is repositioning itself,” said Goepfrich.

The Department of Economic Development seeks to achieve sustainable economic development and upgrade the competitive advantage of Dubai through the development of policies, laws and economic legislation in the emirate, creating a favorable environment conducive to doing business, and maintaining a high standard of living for citizens and residents of Dubai.

Two countries to set up committee to facilitate trade and investment
 
Abu Dhabi, February 8, 2010: The UAE Minister of Economy, His Excellency Sultan Bin Saeed Al Mansouri, has hailed the recent visit of a UAE delegation to Poland as a valuable step forward in economic relations between the two countries.

H.E. Al Mansouri said: “Poland and the UAE share considerable common ground on a variety of important economic issues, and we expect even closer cooperation and more mutual investment opportunities as an outcome of this extremely fruitful meeting. This exercise has underlined the attractiveness of the UAE to foreign direct investment.”

H.E. Al Mansouri and other UAE officials met with senior representatives of more than 100 top Polish companies; more than half of these companies expressed a keen interest to invest in the UAE.

The UAE delegation also met with senior figures in the Polish government, including ministers of finance, tourism and agriculture.

Poland and the UAE have agreed to set up a joint committee to facilitate a closer working relationship on economic and investment-related issues.

H.E Al Mansouri said that UAE enterprise was a key pillar of the national economy and its high standing in the region, adding that a framework for the committee, which will involve influential UAE government and private sector companies, will be submitted by the end of the second quarter.

H.E. Mohammed Ahmed Bin Abdul Aziz Al Shihhi, Director General of the Ministry of Economy, said: “The visit has built on the strategic relationship the UAE enjoys with Poland, and enlarged the gateway Poland offers into the European Union, the world’s largest economic bloc.”

H.E Asim Mirza, UAE Ambassador in Poland, said: “Poland clearly understands the critical importance of the UAE as a trading partner, which is one of the most developed and open economies in the Middle East. We value the active contribution of the UAE Ministry of Economy towards strengthening ties between the two countries, and the UAE’s embassy in Poland is committed to tirelessly supporting these efforts.”

Participants from the UAE business community in the delegation were enthusiastic about the potential positive knock-on effects on bilateral trade from the visit.

H.E. Mohammed Al Qamzi, CEO of ZonesCorp, said: “The visit identified attractive investment prospects in Poland and plenty of opportunities to share experiences and insights, as well as opportunities to attract large Polish companies to the UAE.”

Shukri Salem Al Mehairi, General Manager of Dubai Investments Industries, another member of the delegation, added: “Poland has undoubted strengths in the industrial sector, which is an opportunity for the UAE to improve its own industrial capacity through strategic investments in the sector.”

Khalid Essa Abdulla Buhumaid, Dubal’s Vice President of Corporate Relations and International Affairs, said a closer relationship with Poland will aid Dubal’s own regional and international expansion plans.

Mr. Obaid Saeed Al Dhaheri, Director of International Affairs at Borouge, said: “Poland is a leader in the petrochemicals sector, and we have gained a positive response from various Polish companies on proposals to cooperate more closely in this field.”

Mr. Ahmed Abdullah Al Shamsi, Business Development Director of Al Maabar, said: “We are monitoring opportunities in Poland’s real estate sector, which is proving more resilient than property markets in neighbouring countries.”

Mr. Rashed Obaid Al Dhaheri, Senior Associate at Masdar Power (Masdar), said he applauded Poland’s initiatives in the alternative and renewable energy sector and saw various avenues for collaboration.

Mr. Anas Al Barguthi, Business Development Manager at Mubadala, said: “Poland’s economy is well diversified and therefore has shown greater resilience in the face of the economic downturn. The country’s move towards privatisation offers considerable potential for investment.”

Mr. Mansour Al Hebabi, Assistant Business Analyst, at IPIC said: “The Poland visit provided valuable insights for IPIC’s expansion planning, especially with respect to the oil and gas industry.”

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