Dubai Chamber discuss trade ties with Romania

Led by H.E. Fotini Teodorescu, Vice President of Constanta Chamber of Commerce & Industry, accompanied by a number of Constanta Chamber's top officials and representatives of eight Romanian companies that deal in mining, production of stones and marbles, drilling equipment, frozen food, soft drinks and mineral water.

Al Ghurair welcomed the Romanian businessmen stressing the growing economic relations between Dubai and Romania, and the potential enhancement of these relations through ensuring more contacts between the business communities in both countries, increasing visits, setting up joint ventures and exploring the investment opportunities available in Dubai and Romania.

'Despite the fact that there are only 10 Romanian companies in Dubai which are registered at Dubai Chamber, Dubai's non-oil trade with Romanian reached AED 346 million (Euro 70 million) in 2006. We believe that this visit would help increase the number of Romanian companies, as well as the bilateral trade volumes between Dubai and Romania, benefiting from the active Romanian Trade Center based in Dubai,' said Al Ghurair.

He briefed the Romanian delegation with the features of economic development which Dubai is witnessing thanks to its leadership and policy that depends on income diversification, turning the emirate into a regional and international business hub in this region that offers a gateway to markets of more than 2 billion consumers.

He highlighted the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, which highly contributed to a remarkable increase in the rates of Dubai economic growth. Dubai's economy grew faster than some emerging economies such as India's and China's, and other developed economies such as Ireland's, Singapore's and the USA's.

'Four decades since its was established, with its members increased to more than 90,000, Dubai Chamber is still committed to provide its members and the business community in Dubai with the best value-added services, and to act according to an effective strategy that aims at helping the members access global markets, explore investment opportunities and establish strategic partnerships with other business communities worldwide. Dubai Chamber is also ready to help Romanian businessmen and investors seeking to set up direct or joint ventures in Dubai,' Al Ghurair added.

H.E. Fotini Teodorescu, Vice President of Constanta Chamber of Commerce & Industry, stressed her Chamber's interest in learning more about the experience of Dubai Chamber in serving the business community in Dubai, and its policy in introducing its members to the investment opportunities available worldwide, as well as the facilities provided to foreign investors and businessmen willing to invest in Dubai.

'Our visit aims at introducing the business community in Dubai to the economic and investment potentials in Romania in order to attract more UAE investors, especially to Constanta, which enjoys a strategic location as one of the most important and busiest Romanian harbors at the Black Sea, similar to the strategic location of Dubai and its seaports on the Gulf,' said Teodorescu.

Constanta is the second largest city in Romania. It is known for agriculture, petrochemical industries, food and beverage industry, textiles, ship building, construction materials, and paper.