Dubai Chamber inks MoU with VOKA Halle Vilvoorde Chamber of Commerce in Belgium

The visit aimed at learning about Dubai Chamber's experience in serving the local business community, discussing potential investment opportunities available in both countries and activating bilateral trade cooperation ties.

The MoU was signed by HE Hisham Abdullah Al Shirawi, Vice Treasurer and Board Member of Dubai Chamber of Commerce & Industry, and HE Paul Hegge, Managing Director of VOKA Halle Vilvoorde Chamber of Commerce & Industry in Belgium.

The agreement stressed the need for activating and enhancing economic cooperation and commercial promotion between the two chambers of commerce, opening new channels of contact between their members and businessmen with the aim to generate effective economic partnerships, exchanging information about trade and customs legislations in both countries, participating in trade fairs and economic conferences, encouraging visits of trade delegations and missions, enhancing trade volumes, setting up joint ventures, as well as introducing and benefiting from the investment opportunities available in both countries in different economic sectors.

In his welcoming speech, Al Shirawi stressed the leading position Dubai has gained on the world economic map, and its key role as an outstanding regional and international hub for business and investment in the Middle East. He pointed out the crucial role played by Dubai Chamber in boosting the economic and investment potentials of Dubai, supporting the local business community with quality services and introducing the investment opportunities available worldwide to help them improve their external commercial ties and enhance their international trade practices.

"Signing the MoU between Dubai Chamber and the Belgian VOKA Halle Vilvoorde Chamber prompts us to introduce the visiting Belgian delegation, that comprised of representatives of top Flemish companies, to the investment opportunities available in Dubai banking, finance, services and logistics sectors, as well as the investment incentives, facilities and outstanding services that Dubai Government and Dubai Chamber provide to local and foreign investors," Al Shirawi added.

He noted that the signing of the MoU would help strengthen the commercial ties between the two business communities in Belgium and Dubai, as Dubai's total non-oil foreign trade with Belgium reached Dhs13.8bn in 2006.

Al Shirawi noted that the commodities of trade exchange between Dubai and Belgium include precious and semi-precious stones, metals, vehicles, machinery, textiles, electrical equipment, plastics and others. More than 94 Belgian companies are operating in Dubai and registered at Dubai Chamber, he added. He also stressed the effective collaboration between Dubai Chamber and the Dubai-based Belgian Trade Center, Flanders Foreign Trade Board and the Belgian Economic & Commercial Office, which have all played an active role in attracting Belgian companies to Dubai.

HE Jean-Luc Dehaene, Member of the European Parliament and Minister of State of Belgium and head of the delegation, stressed his government's interest in enhancing economic ties with Dubai and adopting all initiatives that help develop the bilateral trade relations between the business communities in both countries. He highlighted the importance of establishing economic partnership between the two countries due to the significant strategic location of Dubai as one of the international business hubs in the region, especially in trade, finance and logistics sectors.

HE Paul Hegge, Managing Director of VOKA Halle Vilvoorde Chamber of Commerce & Industry in Belgium, said "Signing the MoU with Dubai Chamber would help enhance our bilateral relations and introducing the Belgian business community to Dubai which enjoys an ideal environment for investment. The agreement would be a key driver that motivates further coordination and cooperation between the two chambers and the Belgian commercial representative offices in Dubai, for the purpose of improving bilateral trade between the two countries and benefiting from the available investment opportunities."