Canadian exports of construction materials to the GCC set to cross CAD100m mark in 2007

    Dumped value of 'ID':
'139805';

Dumped value of 'images_loop':
[];

Canadian exports of construction materials to the GCC region are set to cross CAD 100 million in 2007, according to Export Development Canada (EDC), a crown corporation that provides financing, insurance and risk management solutions to help Canadian exporters and investors expand their international business. Recognising the extensive market opportunity present in the region's corporate and industrial sectors, a host of leading Canadian corporations are currently participating at 'The Big 5' Exhibition, being held from November 25 - 29, 2007 at the Dubai International Exhibition Centre.

Headlining the Canadian participation at the show is the Canada Trade Delegation, EDC and Women Engaging in Bridge Building (WEBB), a women-led organisation committed to promote reasoned global dialogue with engagement and education playing the vital role toward creating long term peace and prosperity. In a bid to further strengthen ties, the Canadian Business Council of Dubai and the Northern Emirates (CBC) is set to host a gala dinner during the exhibition, which will feature leading Canadian and local business figures based in the UAE. AAKAR Developers, a leading Canadian real estate and property developer that has received considerable interest from Canadian investors for its Canada Business Centre Tower in Dubai Business Bay, is supporting the Big 5 dinner.

'The Canadian Business Council is fully committed to facilitating greater Canadian presence in the burgeoning Middle East market, and we are very pleased that a host of intuitive Canadian businesses share our goal. The display of utmost support from these companies is truly a welcome sign and a tremendous inspiration in achieving our unified objective. As we recognise the potential of the Middle East to accommodate and nurture progressive Canadian businesses, we are planning to take our efforts to promote stronger Canada-UAE relations to greater heights,' said Ahmed Shehada, Chairman, Canadian Business Council.

According to official statistics from the EDC, the total volume of construction exports to the GCC from Canada was CAD 79.2 million in 2005, whilst the EDC's total business support in the GCC was valued at CAD 622 million in 2006. Amidst the rapidly growing property development sector, Canada has established a solid market in GCC countries through its high quality construction products, with exports of construction machineries to Kuwait and the UAE amounting to Dhs97.1m; veneer, plywood and engineered wood products to the UAE valued at Dhs6m; and metal windows and doors to Qatar and the UAE raking in Dhs6m in 2005.

'The growing trade between Canada and the UAE despite vast geographical and cultural differences has inspired us to work closely with CBC and other Canadian corporations and organisations seeking to capitalise on the vast opportunities present in the Middle East market.

As a Canadian property developer, we carry a deep sense of responsibility to aid other Canadian businesses to advance the overall growth of Canada in terms of its contributions in the Middle East market,' said Yadvinder Singh, CEO, AAKAR Developers. 'The Canada Business Centre Tower will play an important role in consolidating the efforts of companies and organisations dedicated to the development of trade between the two countries, and we are optimistic that our support to the Big 5 Gala dinner will have a positive effect towards achieving our aspirations.'

The Dhs200m Canada Business Tower Centre is set to stand as a testament to the significant contribution of Canadian businesses in fuelling the development of the UAE economy, which has built a highly regarded reputation among the region's business community. The Tower, one among the first property developments to be delivered in Dubai Business Bay district, will be comprised of 19 floors of modern office space and 7500 square feet of retail space at the ground level. By acquiring one of the most sought-after business addresses in Dubai, corporate tenants of the Canada Business Tower Centre are ideally situated to take advantage of extensive market opportunities.

The Big 5 is the most comprehensive event for the construction industry in the Arabian Gulf, which combines five major exhibitions under one roof, including building and construction, water technologies, air conditioning, cleaning and maintenance, and glass and metal. More than 2,000 companies from 67 countries will be participating in the event, which will be attended by industry professionals. In 2006, 41,058 key buyers and decision-makers from the public and private sectors attended the exhibition, which included architects, engineers, contractors and other specifiers. As one of the most commercially successful trade fairs in Dubai, The Big 5 features 'national pavilions' from all the major exporting countries in the world, alongside important local developers, contractors, importers, manufacturers and distributors.

'The Big 5 exhibition is an effective gateway for Canadian companies to gain a significant and accurate idea on the potential-laden Middle East construction market. Along with CBC and EDC, we look forward to welcoming all Canadian companies that wish explore the possibilities available to them in this market, as we continue to support them in their business endeavours in the region,' concluded Singh.