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UAE Freezones Biz News Updates
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Dubai Chamber expands presence
Dubai Chamber opens third international representative office in Erbil
The Dubai Chamber of Commerce and Industry has expanded its global presence
in promising markets, with the opening of its third international
representative office in the city of Erbil in the Kurdistan region.
The value of trade between the UAE and Iraq was estimated to have reached
over $8 billion in 2012, the majority of which was with the Kurdistan
region. Iraq now ranks second behind Saudi Arabia as the largest market for
Dubai Chamber members’ exports and re-exports in 2013.
The Erbil office will seek to increase trade and also industry, agriculture,
real estate and tourism, according to the chamber.
The office, which will define investment opportunities in Kurdistan and
assist Dubai Chamber members access markets in Central Asia, Turkey and the
Middle East, was opened during a trade mission led by the Dubai Chamber to
Kurdistan from January 13-15.
It was officially opened by Dubai Chamber chairman Abdul Rahman Saif Al
Ghurair in the presence of Nawzad Hadi, governor of Erbil, Kurdistan
Regional Government (KRG); Hamad Buamim, president and CEO of the Dubai
Chamber; Mohammed Rashid Al Mansouri, UAE Consul General in Erbil; and
Mohammed Al Shehhi, Undersecretary of the UAE Ministry of Economy.
After the opening, Al Ghurair said that Erbil offices were evidence of the
commitment of the Dubai Chamber to enhance economic ties with Kurdistan. He
said that the purpose of the office was to assist Dubai companies invest and
do business in the Kurdistan region.
“There are tremendous investment opportunities available in Kurdistan across
various economic sectors, especially trade, reconstruction and the
development of infrastructure, oil, tourism and industry. Through this
representative office, Dubai Chamber can bring its members closer to these
opportunities, while sharing Dubai’s expertise and knowledge with the
business community in Kurdistan,” he added.
In a speech during the opening ceremony, Dubai Chamber’s Buamim stressed his
organisation’s commitment to enhancing ties with the Kurdistan region.
Buamim said: “The office in Erbil provides added value for UAE companies and
will help them access businesses opportunities in Kurdistan and connect them
with local partners. The office will also support the presence of UAE
companies in markets in Central Asia, Turkey and the Middle East.”
He added: “This office opening is a key pillar of Dubai Chamber’s strategy
to stimulate economic growth by promoting Dubai’s foreign trade and
improving its competitive business environment. Dubai Chamber will continue
with its international expansion throughout 2014 with a number of key
markets targeted including China and India.”
In his speech, the Governor of Erbil confirmed that the new office will have
a positive and significant impact on economic relations. Nawzad Hadi said
that Erbil was aiming to take advantage of the expertise and experience of
Dubai in several vital economic sectors.
He expressed pride in Dubai Chamber choosing Erbil as the destination for
its Kurdistan office.
The office of Erbil is Dubai Chamber’s third international representative
office.
Last year the organisation opened its first office in Baku, Azerbaijan,
followed by Addis Ababa in Ethiopia.
16 Jan, 2014 |
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Courtesy Khaleej Times
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