Dubai pharmaceuticals sector sees 45 per cent growth

Total trade, combining imports, exports and re-exports, grew by AED237 million over the period, from AED530 million to AED767 million.

Nearly 100 industry executives attended the first meeting on Saturday at Dubai Chamber of Commerce and Industry of a new business group dedicated to the pharmaceuticals and health equipment sector in Dubai.

The aim of the new group is to represent and articulate member interests more effectively with the support and legal backing of DCCI. Last month, new business groups were created under the umbrella of the Chamber for the foodstuffs trading and land transport sectors.

New business groups are also planned for Dubai's building materials trading, printing and publishing, and food and beverage manufacturing sectors.

Chairing yesterday's meeting, Dr Anwar Gargash, Member of the Board and Head of DCCI's Economic Affairs and Commercial Activities Committee, said:

"Through the formation of these new groups, DCCI hopes to strengthen its ties with members and become better equipped to help administer their affairs and transactions with different departments and authorities in the UAE and abroad."

Dr Gargash continued: "Though informal groups have existed in the past, DCCI's association with this initiative provides greater legitimacy, credibility and an important legal framework to help members express their mutual interests more confidently."

Abdul Rahman Al-Mutaiwee, Director General of DCCI, and Ahmed Al Banna, Assistant Director General for Studies and International Affairs, also attended yesterday's meeting.

Key discussion points included Dubai Customs clearance procedures, Dubai Municipality inspections, Ministry of Health registration procedures, and member dealings with local and federal authorities in general.

DCCI membership representing the pharmaceuticals and health equipment business in Dubai has grown from 458 members in 1997 to 750 last year. The sector amounts to 1.4 per cent of the Chamber's total membership.

Saturday's meeting concluded with an agreement by members to elect a committee of between eight to 11 members to head the new Pharmaceuticals and Health Equipment Business Group. Members will vote on nominations at a meeting attended by DCCI within seven to 10 days.

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