'TradeUAE' sets stage for stronger business ties between UAE

[Aslan]

The business development and networking event held at the Saad Conference Centre in Erbil, the capital of the autonomous Kurdistan Region in Iraq, was also supported by the Kurdistan Regional Government and the Federation of Kurdistan Chambers of Commerce.

Focused on exports and investment between the UAE, Iraq and Kurdistan, the event was attended by officials from most of the trade-related government departments and 120 businessmen representing over 60 companies in the UAE. Companies in the UAE delegation included Thuraya, Tawazun, Ducab, Al Naboodah, Al Jaber and Bin Moosa& Daly while two of the country's leading energy companies - Crescent Petroleum and Dana Gas - were the host sponsors of the event.

The strategy sessions, workshops, site visits, pre-arranged B2B meetings and matchmaking sessions held as part of the event enabled the UAE delegates to establish business links with the private and public sector in Kurdistan.
"Kurdistan is a promising market with unprecedented investment opportunities and it is our goal to contribute to the development of its economy," His Excellency Abdullah Bin Ahmed Al Saleh, Director General of the Ministry of Foreign Trade and head of the UAE delegation said, referring to Kurdistan's potential as a gateway to the Iraq market.

Eng. Saed Al Awadi, Chief Executive Officer of Dubai Exports , the export promotion agency of DED , said: "We are looking at the export opportunities in Erbil and Kurdistan and we would like to expand the relations between Kurdistan and the UAE. I believe our cultural and language ties along with the economic and entrepreneurial dynamism in Kurdistan opens the door to our firms to consider entering the market, if they have not already done so, and to extend their reach."
Al Awadi added that although Dubai Exports and its members have been hugely successful in penetrating Kurdistan, understanding consumer preferences as well as identifying the right means to reach out to the vast and evolving market presented complex challenges.

"I believe TradeUAE will make it easier for our firms to enter Iraq. Kurdish firms can also use the UAE as a gateway to the wider regional markets. The UAE's infrastructure, connectivity and ease of doing business make it an ideal partner for Kurdish companies in growing their markets. It must be noted that Iraq was the third re-export partner of Dubai in 2012, after India and KSA," Al Awadi said.

Fahad Al Gergawi, Chief Executive Officer of Dubai FDI, the foreign investment office in DED , stressed Dubai's a proven advantages as a city that enables businesses not only to come and set up but also grow in the entire region. "From Dubai you can reach out to a population of around 2.2 billion within four hours; this is very important for investors. Dubai represents, and is accepted as, a global services centre to many multinationals looking at expanding their businesses in the region and globally," he said.

Al Gergawi added" We are focusing more on the central role of Dubai in the region. Our location has been key to our status as a hub, and we will remain important regionally and globally in the future. Thus, we feel Kurdistan can benefit from Dubai as one of the most attractive destinations to invest in now and in the future."

Commenting on the outcomes of the two-day event, Hamad Al Mas, Executive Director of International Economic Relations in the Abu Dhabi Department of Economic Department said: "TradeUAE-Iraq allowed UAE companies to showcase their products and services, as well as technology and knowledge employed in strengthening the industrial output in the UAE and particularly in the emirate of Abu Dhabi. The event was a great opportunity to promote the UAE Vision 2021, mainly in the areas of growth and development of the industrial sector."

Al Mas further said that the event also helped to inform key decision-makers and business leaders of the efforts of the Government of Abu Dhabi towards achieving its vision for 2030 aimed at creating a diversified, balanced and sustainable knowledge-based economy, thus enhancing the competitiveness of the emirate at a global scale.

Organised by Dubai-based Streamline Marketing Group, TradeUAE has been designed as a series of trade promotion events across emerging markets.