Tag Archive | "exports"

KSA petrochemical exports to reach 100m tons by 2016

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KSA petrochemical exports to reach 100m tons by 2016


4188Saudi Arabia has become the country partner of ArabPlast 2015, the largest plastics and petrochemicals show in the region.

This has led to the signing of a memorandum of understanding (MoU) Sunday in Dubai between Al Fajer Information and Services, the organizer of ArabPlast 2015 and Saudi Export Development Authority (SEDA), a subsidiary of the Saudi Ministry of Commerce and Industry, with the goal of boosting the presence of the Saudi petrochemical industry in the next edition of the UAE’s premier specialized event.

Following the signing of the MoU held in Maktoum Hall of Dubai International Convention & Exhibition Centre (DICEC), SEDA booked a complete hall in the exhibition, which is to be held from Jan. 10-13, 2015.

The previous edition of the bi-annual event was spread over nine halls of DICEC and attracted 900 exhibitors from 41 counties.

“We are keen to be part of this successful international trade show. We will help Saudi companies to further expand their operations through a global platform like ArabPlast 2015,” said Ahmed Alhakbani, secretary general, SEDA.

“We have already confirmed about 7,000 sq.m. of space for companies from the Kingdom and we thank Al Fajer for their cooperation in formalizing this cooperation.”

Satish Khanna, GM, Al Fajer Information and Services, organizer of ArabPlast, said: “It is a matter of great pride for Al Fajer and ArabPlast to have the Kingdom as the country partner of the show. Our collaboration with SEDA will further elevate ArabPlast position on the global front as a major specialized exhibition, driven by the robustness of the petrochemical industry in the Kingdom.”

“Petrochemical exports in the Kingdom are expected to reach 100 million tons by 2016, a 250 percent growth over 2006,” Khanna added.


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ICC: Global trade deals would generate exports creating 21 million jobs

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ICC: Global trade deals would generate exports creating 21 million jobs



4108The International Chamber of Commerce (ICC) on behalf of global business finalized recommendations for World Trade Organization (WTO) member countries to salvage parts of on-going Doha trade negotiations that could boost global GDP by $960bn.

Several hundred business leaders and trade experts met for the ICC World Trade Agenda Summit, held on the first day of the ICC WCF 8th World Chambers Congress, the first ever Congress to be held in the Middle East.

The four-day Congress in Doha, Qatar is set to gather 1,000 delegates from chambers of commerce, as well as from multinational and small- and medium-sized companies.

Delegates met on Monday to give their stamp of approval to a final set of business priorities that would provide a debt-free stimulus to the global economy at a time when governments are struggling to inject growth into their economies.

By simplifying customs procedures - through trade facilitation measures - alone, member countries would deliver global job gains of 21 million, with developing countries gaining more than 18 million jobs and developed countries increasing their workforce by three million.

ICC and the Qatar Chamber of Commerce and Industry in March 2012 launched the ICC Business World Trade Agenda in response to calls from WTO members and from G20 leaders for fresh approaches following a 12-year impasse in multilateral trade negotiations.

“ICC has consulted with business around the world to develop a set of practical steps for reaching a new trade consensus,” said ICC Chairman Gerard Worms. “As the actors of trade in the daily marketplace, we are well placed to shed new light on stalled talks. We will mobilize CEOs around the world to make the case to national governments for this new trade agenda.”

The initiative has developed five recommendations that could achieve tangible outcomes by the end of 2013, to harvest gains from the WTO’s Doha Development Round. These are:

•Conclude a trade facilitation agreement

•Implement duty-free and quota-free market access for exports from least-developed countries

•Phase out agricultural export subsidies

•Renounce food export restrictions

•Expand trade in IT products and encourage growth of e-commerce worldwide

Business recommendations from this event will be delivered to G20 leaders and WTO ministers ahead of the next G20 Summit in Saint Petersburg and the WTO Ministerial Conference in Bali later this year.

The Peterson Institute in Washington DC, recently studied ICC’s Business World Trade Agenda, to quantify the potential benefits from the recommendations.

It is estimated that the payoff from liberalizing trade in services could generate world trade gains of $1.1 trillion, which would translate into global employment gains of nine million jobs. At the same time, a meaningful WTO agreement on liberalizing trade in environmental goods, even on a plurilateral basis, could deliver $10.3bn of additional exports.

“The potential gains in terms of exports, jobs and GDP growth from multilateral trade liberalization are substantial,” said Victor K Fung, ICC Honorary Chairman; Chairman, Fung Group. “For these reasons, international business strongly encourages political leaders to steer clear of protectionism and nationalism - and return to building inclusive open trade to stimulate global recovery and growth for many years to come.”

The year’s ICC WCF Congress is the biggest international gathering of chambers and their business leaders. The event provides a unique opportunity for interaction among the global community of 12,000 chambers of commerce.

“Sharing a common belief that open markets can bring about positive change in the world we have converged in Doha to identify the challenges and opportunities brought about by shifts in the global economy and to help chambers and their business leaders adapt to them,” said Peter Mihok, Chairman, ICC World Chambers Federation.







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Paper Arabia 2011 opens with clear trend of Chinese producers increasing their exports to Middle East

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Paper Arabia 2011 opens with clear trend of Chinese producers increasing their exports to Middle East


UAE’s paper consumption among the highest in the world, with annual growth of 5-6 percent

2200Dubai, UAE, 18th September, 2011: UAE’s consumption of paper is among the highest in the world, according to international industry statistics released on the sidelines of Paper Arabia exhibition.

According to the Indonesian Pulp and Paper Association, one of the biggest associations in the world specializing in paper, the per capita annual consumption of paper in the UAE is 200 kg, against the global average consumption of 60 kg. This is a significant figure for the UAE with a small population, when contrasted with a country like India where the per capita consumption is mere 9 kg. UAE’s consumption is on par with Italy and Spain.

In 2010, the UAE consumed 3.5 million tons of paper, against 18 million tons in the entire Middle East region and 450 million tons globally in 2010, according to International Pulp and Paper Association.

These statistics were revealed at the inauguration of Paper Arabia 2011, the first-of-its-kind industry expo, which was inaugurated by HE Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, today (Sunday, 18 September, 2011) at the Dubai International Exhibition and Convention Centre. The event will continue until September 20.

Organisers of the show said that A4 paper led the demand for paper in the UAE, and the overall growth in paper consumption was between 5 and 6 percent where 12 paper mills operates in the country.

Speaking about the paper industry, Al Ghurair said that the paper industry is still evolving in the UAE, and it serves the entire region and Africa.
 
Mr. Suresh Kilam, Vice Chairman of Indonesian Pulp and Paper Association said: “Chinese paper and pulp industry will reach 168 million tons in 2020, 22 million of which will be exported outside Chinese markets, with the Middle East getting the bulk of these exports in the absence of antidumping policies. Chinese production was 92 tons in 2010 compared with 32 tons in 2001.”

North American paper market is shrinking at 1.8 percent yearly, and same applies to Western Europe market.

Talking about the importance of using latest technologies in saving production costs, Kilam added that China is adopting new technologies that are reducing the cost by almost half.

He added that the global consumption of paper would reach 495 million tons in 2020.

Talking about the tissue industry in the region, Kilam said that it was growing rapidly. There were 4 major machines in 2010, against only one in 2000.

Mr. Satish Khanna, General Manager, Al Fajer Information and Services which organizes the show, said: “Paper industry is developing all over the world, especially in the Middle East. We have high hopes for this industry in Dubai and the potential is really huge. Paper Arabia 2011 is dedicated to the development of the paper, printing and packaging industry in the GCC.”

Khanna added:  “Paper industry in the region has grown significantly and Paper Arabia 2011 reflects our efforts to highlight key regional industry segments.”

Paper Arabia 2011 is bringing together players from the paper, tissue and converting industries. This show offers opportunities to the manufacturers and suppliers of finished products, equipment, machinery, paper chemicals, services, supplies of paper, tissue and converting sector to tap the Middle East and North African markets.

Paper Arabia, with more than 150 exhibitors from 25 countries from across the world, is a key platform for traders and industry players to interact. The show’s participants include leading global names from the UAE, Italy, Jordan, India, China, Netherlands USA and UK amongst others. 


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Dubai Direct 2010 exports to South Africa valued at AED219million

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Dubai Direct 2010 exports to South Africa valued at AED219million


Dubai Exports keen to strengthen trade relations across various S. African industries

Release Date: 23rd August 2011

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Dubai Exports, an agency of the Department of Economic Development (DED) – Government of Dubai, hosted its largest delegation at Africa’s Big Seven (AB7) exhibition held in Johannesburg, South Africa last month, with small and large UAE-based companies in the food & beverage and packaging industries. The delegation was also joined by government organisations such as Jebel Ali Free Zone (JAFZA) who sought trade opportunities for their member companies across the South African continent.

An annual event, Africa’s Big Seven amalgamates the seven components of food production, including the various processes and technologies employed in transportation, packaging, marketing and lastly, retail. Dubai Exports, together with the UAE’s Ministry of Foreign Trade, provided exporters with support services to bolster the success of their new partnerships made at the exhibition.

Prior to the event, all the participating companies and organisations participated in an extensive briefing session with experts from the continent. In addition, the delegation received market insights from Euromonitor.

There are strong and historical trading ties between South Africa and the UAE and in 2010, the total value of UAE exports to the country was estimated at AED219 million. The key export sectors include plastics and polyesters, facial tissues and sanitary paper towels, glass products, gold, chocolate and cocoa preparations, perfumes and cosmetics, and lubricants and base oils.

Engineer Saed Al Awadi, Chief Executive Officer of Dubai Exports, stressed on the numerous opportunities between the UAE and South Africa, as well as the wide range of support services and financial aid through the Export Assistance Program that encourage local exporters to widen the scope of their businesses outside the UAE.

“South Africa is a hub of trade activity, with much untapped potential that is not limited to the food manufacturing industries. As a prominent emerging market for Dubai products, Dubai Exports is keen on cultivating stronger ties with the South African region to the effect of mutual gains,” he added.

Among the companies participated at AB7 were Ministry of Foreign Trade; Dubai Exports; Jebel Ali Free Zone (JAFZA); RAK Free Zone Authority; Pure Ice Creams LLC; Diamond Meat Processing; Falcon Pack; DoFreeze; Palletco LLC; Integrated Plastic Packaging; Al Foah Dates, General Holding Company; Dubai Refreshments and National Food Products LLC.
 

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UAE Delegation Targets Southern African Markets for Exports at Africa’s Big Seven 2011 Expo

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UAE Delegation Targets Southern African Markets for Exports at Africa’s Big Seven 2011 Expo


282Aiming to provide practical on the ground knowledge on export opportunities in Southern Africa, Dubai Exports, an agency of the Department of Economic Development (DED) – Government of Dubai, hosted an information and networking sessions for UAE companies from the food & beverage and packaging industries that will participate in Africa’s Big Seven 2011 Exhibition, taking place in Johannesburg, South Africa, from July 17th to 19th.  The event was also attended by other companies eager to enter the market and capitalise on opportunities that exist in these markets.

In partnership with the UAE Ministry of Foreign Trade and Dubai Exports, a 12-organisation trade delegation will exhibit at the event.  Dubai Exports offers support to the exhibitors by equipping them with valuable input to ensure their success in forming new trade partnerships. The information provided showed exporters about the viability of South Africa as a gateway to the Southern African markets for the future and growth of local UAE products.

“The Africa’s Big Seven Expo offers numerous opportunities for UAE exporters to network and establish ties with the food manufacturing and distribution industries. With the help of our support services, including financial support through our Export Assistance Program, these ties can be strengthened to ensure mutual gain of manufacturers and local exporters,” said Engineer Saed Al Awadi, Chief Executive Officer, Dubai Exports.

“South Africa, with its enormous potential, is a target export market for the UAE.  After our successful participation at this exhibition last year, this year we came back with our biggest delegation yet. Through this exhibition, we hope to encourage more companies to consider South Africa as a suitable market for our local products,” he added.

Attended by delegates from the UAE Ministry of Foreign Trade and Dubai Exports’ members, the informative session took the exhibitors on a journey from understanding the trade activities between members of the South African Development Community and the UAE to sector-specific export opportunities in the food & beverage and packaging sectors and finally the overall business culture of that region.

Dr Ashraf Mahate, Head of Export Market Intelligence at Dubai Exports, talked about ‘Trade between the UAE and Southern Africa, while Abdelwahid Afennas, the Senior Regional Consultant at Euromonitor International (MENA & Turkey), discussed export opportunities in various sectors. Attendees also received a package containing information on regulations and certifications on importing into South Africa.

Exports from the UAE to Southern Africa doubled from US$483 million in 2009 to US$986 million in 2010. It is predicted that with an annual increase of 200 million new consumers each year the African continent offers UAE-based firms considerable opportunities.

“Almost all African countries have experienced a positive growth in their economy over the last few years. With strong commodity prices and relative stability in the region it is expected that the continent will continue on this upward trajectory. With economic growth predicted at an average 3.5% per year over the next five years it is expected to translate into an annual increase in consumer spending of 35%,” Mahate said.

A short presentation by Schuyler D’Souza, Chief Commercial Officer of the Export Credit Insurance Company of the Emirates, detailed a special offer on export credit insurance to all exhibitors. Finally, Richard Harris, a locally-based South African businessman and Business Desk Manager of the South African Business Council in the UAE, gave exporters pointers on the business culture of South Africa.

Dubai Exports is hosting its largest delegation to date to exhibit at Africa’s Big Seven Exhibition. Exhibiting companies under the UAE Pavilion include the UAE Ministry of Foreign Trade, Dubai Exports, Jebel Ali Free Zone Authority (JAFZA), RAK Free Trade Zone Authority, Pure Ice Creams, Diamond Meat Processing, Falcon Pack, Dubai Refreshments, Dofreeze, Palletco LLC, Integrated Plastic Packaging, General Holding Corporation and National Food Products Company.

Africa’s Big Seven Expo is an annual event that combines the seven steps involved in food production, occurring at various stages and requiring specific technologies - transporting produce out of the field and towards stages of processing, packaging and marketing, and ultimately retail sales.


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Dubai Exports fosters Islamic Finance exports globally

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Dubai Exports fosters Islamic Finance exports globally


Dubai Exports hosts a landmark Islamic Finance Forum

Release Date: 22ndJune 2011

2146Seeking to tackle challenges, explore business prospects and export opportunities in various key markets in the Islamic Finance Sector, Dubai Exports, an agency of the Dubai Department of Economic Development (DED), Government of Dubai, has hosted the Islamic Finance Forum.

The forum, held in partnership with Zawya, a leading provider of financial information in the MENA region, brought together leading local and international scholars and practitioners from the sector. It also showcased presentations about Islamic Finance opportunities in Germany, Africa, Indonesia and the Arab World as well as the Takaful sector.

Dubai has shown that it can be innovative through the development of new shariah compliant products to meet the needs of an ever increasing and sophisticated investor. Ensuring that the UAE is the global centre for Islamic Finance, Engineer Saed Al Awadi, Chief Executive Officer, Dubai exports stated, “Two years ago we decided to start promoting UAE’s capabilities and expertise in Islamic or Shariah compliant financial services to major markets abroad. We were not surprised by the overwhelmingly positive response to the mission and the successful outcomes that have been achieved to date. I strongly believe that as the leaders and pioneers in the sector our firms have the necessary expertise to channel this sector in international markets.”

Dubai Exports and Zawya have produced the first UAE Islamic Financial Services Directory. Al Awadi commented, “I believe that the directory will lead to greater product development within the Islamic Financial services sector as more investors and borrowers see its great potential. I strongly encourage everyone to use this valuable resource in order to identify appropriate partners from the UAE.”

At the forum, Dr Hussain Hassan, Managing Director, Dar Al Sharia, a prominent scholar and member of 38 Shariah boards, delivered the keynote speech and discussed the key challenges facing Islamic Finance today in the period following the so called ‘Arab Spring’.

One of the important aspects that came across was that Islamic Finance is not limited to just Muslims and is open to everyone. In fact, according to a survey conducted by one of the Dubai-based Islamic banks, two thirds of its customers were not Muslim. The main reason for such is that customers realise the ethical properties of Islamic financial products and services and are making a conscientious decision to seek them in the marketplace.

In terms of products, the forum discussed the challenges relating to sukuks especially in the post international financial crisis period. Today’s sukuks are not only far larger in size than those available a decade ago but more sophisticated reflecting the particular needs of clients.

It is expected that the growth of Islamic financial services will continue to grow over the foreseeable future as it moves away from it traditional captive markets of Islamic countries. In recent years, a number of countries have embraced Islamic finance and made the necessary regulatory changes so as to treat it at par with conventional banks. These changes have allowed Islamic financial institutions to be established in new countries and thereby increasing its market coverage.

Futhermore, the overwhelming demand for shariah compliant financial services has meant that financial institutions have been developing highly innovative products and services to meet these increasing needs. A typical example, which was discussed at the Islamic Finance Forum, is the development of financial derivatives. Although, there were a lot of derivatives in conventional finance especially after the recent international financial crisis, however, they can be used to safeguard the interests of investors through hedging. Although, some forms of derivatives are permitted such as swaps, the real problem is with the more complicated varieties.

The forum also dealt with the Islamic perspective on trusts and inheritance planning. With second and third generation involvement in family businesses especially in the SME sector, this topic has gained considerable importance. This is more so the case whereby inheritance planning has to conform to Islamic guidelines yet seeks to obtain a tax efficient outcome. Finally, the forum discussed how Islamic money markets can allow businesses to earn a return on surplus funds while conforming to the principles of their religion.

Dubai Exports is actively working with firms in the Islamic Financial Services sector and as such feels that three developments are taking place globally. First, Dubai Exports’ research finds that a number of countries are becoming aware of the potential of Islamic Finance and are making the necessary regulatory and taxation changes so as to treat them at par with conventional finance. As a result Dubai Exports is working with its partners to organize trade missions into these countries so that our firms can capitalize on these opportunities.

Second, Dubai Exports have found a far greater development of products and services which meet the increasing demands of sophisticated investors. The development of these products has allowed Islamic Finance to expand beyond its assumed parameters. Third, Dubai Exports has found an increase in the number of educational programmes to equip those working in the sector. “For the Islamic finance sector to develop, it needs adequately qualified and trained individuals and here education plays an important role,” Al Awadi concluded.

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