DCCI invited to participate in the Ukraine-UAE Investment Forum in May 2007

The invitation was delivered by a high-raking trade and diplomatic delegation from Ukraine who visited the DCCI and discussed ways of developing bilateral trade.

His Excellency Obaid Humaid Al Tayer, Chairman of the DCCI, and a number of heads of the Chamber's departments received the Ukrainian delegation headed by His Excellency Anatoliy Zlenko, Advisor of Special International Issues of the Prime Minister of Ukraine and a Former Minister of Foreign Affairs, along with Viktor Plakida, Chairman of the Council of Ministers of the Autonomous Republic of Crimea, Dr. Sergiy Pasko, Charge d'Affaires of Ukraine to the UAE, Viktor Typchenko, Deputy General Director of Ukraine Trade Center in Dubai, and a number of Ukrainian businessmen and representatives of top industrial companies in Ukraine.

Al Tayer welcomed the Ukrainian delegation highlighting the aspects of Dubai's economic development under the leadership of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who turned the emirate into an attractive environment for investment due to the strong infrastructure which provides investors with an access to a market of 1.8 billion people.

"Dubai has adopted an open and free market policy that is capable of confronting challenges, whereas export and re-export trade in Dubai dramatically increased expecting its volume to reach $ 30 billion by the end of this year," said Al Tayer.

He called for enhancing the trade volume between the two countries through introducing the economic and trade sectors to the investment opportunities in Dubai and Ukraine. Al Tayer also invited the Ukrainian companies and investors to participate in the trade fairs and economic forums organized in Dubai.

H.E. Anatoliy Zlenko, Advisor of Special International Issues of the Prime Minister of Ukraine, praised the economic development and tourism promotion plans of Dubai, stating that Ukraine, whose population is over 47 million people, has a wide industrial base and its economy provides multiple investment opportunities in different productive and tourism sectors which need to be discovered by the UAE investors.

"Ukraine is working hard to get into the right track of economy especially after the political elections which took place in Ukraine last March. The Ukrainian government is working now on reconstructing the country's constitution since it is the only way for building Ukraine's future based on free economy and democracy for all," said Zlenko.

He noted that Ukraine showed interest in strengthening its economic relations with all the GCC countries since 1993 when the Ukrainian President visited the region, including the UAE, and signed a number of economic and diplomatic agreements. Zlenko assured that the bilateral trade volume between the two countries which reached $ 400 million in 2005 is relatively reasonable, although more efforts should be done to increase the volume of trade with Dubai through increasing the mutual visits of businessmen from both countries.

Dr. Sergiy Pasko, Charge d'Affaires of Ukraine to the UAE, said that the Advisor of Special international Issues of the Ukrainian Prime Minister, is the right person who can effectively work on boosting the bilateral economic relations with Dubai, as the trade volume between the two countries reached $ 300 million during the first nine months of this year, and the figure is quite encouraging.

He said that his country has a competitive capability of exporting iron, auto parts, electrical transformers and communication technologies (in association with the UAE's Al Thuraya project, as well as the business deal signed by a UAE company to buy the biggest Antonov plane in the world).

These deals reflect that the UAE business community is interested with the Ukrainian industries, he added. He also said that more than 6 million tourists visited Ukraine last year, 2000 of which came from the UAE, compared to more than 40000 Ukrainian tourists who visited the UAE.

Dr. Pasko formally invited the DCCI Chairman to attend the Ukraine-UAE Investment Forum due to be held in May 2007.