Dubai Chamber discuss ways to enhance bilateral trade ties with Romania

H.E. Rashid Al Mazroui, Member of the Board of Directors of Dubai Chamber of Commerce & Industry, stressed the Chamber's effort in promoting Dubai as an international business destination in the region, and in developing the commercial sectors of the emirate through providing value-added services, receiving major business delegations and missions from all over the world, and arranging networking meetings for them with the business community in Dubai.

Yesterday Al Mazroui received a Romanian trade delegation led by HE Ovidiu Silaghi, Minister of Small & Medium Enterprises, Commerce, Tourism and Liberal Profession, along with a number of ministerial officials. The meeting, was which attended by HE Engineer Hamad Buamim, Director General of Dubai Chamber, discussed ways to activate the bilateral trade ties between the two countries and create a better business climate between partners in Dubai and Romania.

"The Romanian minister's visit to Dubai Chamber opens new channels of enhancing the bilateral economic and trade relations between our two countries, as well as attracting new Romanian investors and businessmen to Dubai," said Al Mazroui.

He pointed out that Dubai's non-oil foreign trade with Romania reached AED 346.5 million in 2006. There are 10 Romanian companies operating in Dubai which are registered at Dubai Chamber. Dubai also hosts one Romanian trade center that helps in indulging the Romanian businessmen into Dubai business community and in attracting Romanian investments. Dubai Chamber had also signed a cooperation agreement with the Romania Chamber of Commerce and Industry in 1991.

HE Ovidiu Silaghi, Minister of Small & Medium Enterprises, Commerce, Tourism and Liberal Profession, stressed his government's interest in enhancing economic and trade ties with Dubai through learning about potential investment opportunities and activating ties between the Romanian businessmen with their counterparts from Dubai. He said that the international reputation Dubai has gained in the world of business in this region has prompted the Romanian business community to work on activating relations with its counterpart in Dubai.

The Romanian minister noted that Romania's top imports from Dubai include base metals, wood, textiles, machinery, electrical equipment, plastic and rubber. Romania's economy recorded a 6.4% increase last year, surging the country's GDP this year to $ 256.9 billion.

The Romanian exports reached $ 33 billion in 2006, while its imports hit $ 46.5 billion. The Romanian exports include textiles, footwear, base metals, machinery, chemicals and agricultural products. Romania's major trade partners include Italy, Germany, Turkey, Hungary, France, Austria and the UK.