Dubai Chamber promotes its services through participating in the first KSA-UAE Economic Forum in Riyadh on May 13-14

The Forum, and its associated exhibition, is organized by the Federation of UAE Chambers of Commerce & Industry, in cooperation with Council of Saudi Chambers, Saudi Group for Research and Marketing (Asharq Al Awsat), and Eye of Dubai company.

H.E. Engineer Hamad Mubarak Buamim, Director General of Dubai Chamber, said that the Chamber's participation in the first KSA-UAE Economic Forum is part of its annual plan and work strategy to promote Dubai as an attractive destination for international business and investment, provide its members with an opportunity to strengthen trade ties with their Saudi businessmen and investors, and to help them establish joint enterprises in both countries.

'Dubai Chamber's participation in this important Forum provides a good chance for us to introduce our significant services offered to the business community in Dubai, as well as the facilities which we supply the Arab and foreign investors willing to set up new direct businesses or joint ventures in Dubai. The Forum also enables businessmen from both countries to have a networking and discuss the best ways to activate commercial and investment cooperation between Dubai and Saudi Arabia,' said Buamim.

Dubai Chamber participates in the Forum as part of the UAE delegation which will be led by Sheikha Lubna Al Qasimi, Minister of Economy, and include more than 70 participants representing major economic and financial organizations from the government and private sectors, in addition to a number of businessmen and investors.

The director general of Dubai Chamber highlighted the importance of this Forum and its role in developing economic and trade ties between the UAE and Saudi Arabia. Statistics revealed that the bilateral trade between the two countries reached SR 11.6 billion in 2005, whereas Dubai's direct non-oil trade with Saudi Arabia (excluding free zones) reached AED 5.2 billion in 2006.

'Representing Dubai business community and other trade organizations in the Forum, Dubai Chamber's participation will help increase the volumes of bilateral trade between Dubai and Saudi Arabia, and boost the relations between the two business communities,' said Buamim.

He noted that the Dubai Chamber's pavilion at the Forum will provide its visitors of Saudi businessmen and investors with brochures, statistics and information about Dubai's business environment and the Chamber's services and facilities offered to investors willing to establish new companies in the emirate.

Dubai Chamber recently received a high-ranking Saudi delegation led by Abdul Rahman Rashid Al Rashid, Chairman of the Chambers of Commerce and Industry of Saudi Arabia, along with more than 50 businessmen, representatives of the Saudi Chambers of Commerce, traders and investors in the fields of construction and contracting, travel and tourism, telecommunications, manufacturing and others.

That meeting discussed the importance of opening new channels of contacts between the Saudi business community and its counterpart in Dubai to help improve bilateral economic relations, adopting new ways to enhance the volumes of bilateral trade through exploiting the available investment opportunities, supporting the role of private sector and increase the number of meetings between the businessmen from both sides.

Various topics will be discussed at the Forum's two sessions. The first session will focus on boosting trade between the two countries. Speakers will discuss the government's role in creating a healthy business environment, how can the private sector overcome commercial obstacles, B2B relations and its role in enhancing the integrity of the Gulf's economy, and presenting the successful experience of a Saudi project in the UAE.

The second session of the Forum will focus on the future investments in both countries, where speakers will handle several topics including how to establish a balanced investment having two different investment systems, the economic legislations and investment opportunities available, the most attractive sectors for investment in the region during the next decade, and presenting another successful experience of one of the UAE projects in Saudi Arabia.