Intensive preparations by Dubai Chamber to host Dubai-Hamburg Business Forum 2007 next October

Organizing this significant forum comes in line with the Chamber's strategy in supporting its members and businessmen through providing them with an opportunity to develop trade ties with their counterparts and enhance their competitiveness.

Representatives of more than 300 local and German companies of different economic sectors are expected to take part in Dubai-Hamburg Business Forum 2007 which aims at strengthening bilateral cooperation ties between the business communities in Dubai and Hamburg, as well as introducing the available business opportunities in the two cities which share many economic and strategic features.

HE Engineer Hamad Buamim, Director General of Dubai Chamber of Commerce & Industry, stressed the importance of the forum and the Chamber's interest to make the event a success for it would help enhance bilateral economic ties between Dubai and Hamburg and provide a chance to establish joint ventures in different economic sectors such as aviation, banking, energy, healthcare, foreign trade, logistics and marine shipment.

"The forum will bring together a significant number of UAE and German economists to discuss ways of activating mutual cooperation in sectors such as renewable energy, as Hamburg is the largest European center for producing renewable energy," said Buamim.

"Experts believe that the UAE has a huge potential to produce renewable energy. Moreover, there is a chance for a close cooperation between Dubai and Hamburg in aviation sector, since Hamburg is the world third largest center for manufacturing and maintaining aircrafts, whereas Dubai Aerospace Enterprise has laid a strong base of aircraft industry in the emirate thanks to its huge aviation projects estimated at US Dollar 15 billion."

He pointed out that Dubai Chamber has played a leading role in strengthening the bilateral economic relations between the UAE, Dubai in particular, and Germany. Organizing the Dubai-Hamburg Business Forum 2007 is a completion to the growing economic cooperation ties between the two countries and an opportunity for Dubai Chamber to open new doors before the UAE and German businessmen to help enhance the bilateral trade between the two countries, he added.

The idea of organizing this forum was generated due to the common features that both cities share in terms of overall economic development and strategic locations. Experts believe that there are lots of chances to develop bilateral economic cooperation between the two cities in different sectors which will be discussed during the forum.

He said that Germany enjoys the third largest economy in the world and the biggest in Europe. Germany is the biggest strategic partner to the UAE as there are 5 German trading representative centers operating in the UAE, as well as the German Business Council which is one of the most active business councils which operate under the umbrella of Dubai Chamber. There are 500 German companies working in Dubai as Dubai's non-oil trade with Germany reached AED 16 billion in 2006.

Buamim noted that the forum is expected to have positive results in terms of having the opportunity for the businessmen from both sides to discuss the potential joint ventures that could be set up in sectors of aviation, banking, energy (renewable energy), logistics and marine shipment. Both parties will also discuss how they could benefit from the available investment opportunities in Dubai and Hamburg.