DEDC enhances trade opportunities with European countries at Industrial Forum

Held in Barcelona, Spain, the Gulf Cooperation Council - European Union (GCC-EU) Industrial Forum was jointly organised by the Barcelona Chamber of Commerce, Industry and Navigation (BCCIN) in conjunction with the Gulf Organisation for Industrial Consulting (GOIC).

DEDC was invited to participate in the forum due to its relationship with GOIC with whom it recently signed a Memorandum of Understanding.

Attendees at the forum included high level business representatives and government officials from GCC and EU countries including H.E. Eng. Sultan Saeed Al-Mansouri, Minister of Economy, UAE; H.E. Dr Ahmed Khalil Al-Mutawa, Secretary General, GOIC, and H.E. Mr Miquel Valis, President of Barcelona Chamber of Commerce, Industry and Navigation, Spain.

Engineer Saed Al Awadi, Chief Executive Officer, Dubai Export Development Corporation, presented a paper to the forum outlining Dubai's emerging manufacturing and export sectors, the opportunities available for Dubai businesses to export to EU countries and the range of potential opportunities available for EU organisations to invest in the UAE.

"There are significant trade opportunities available to European investors that will allow them to expand their industrial performance in Dubai. Likewise, the Dubai Government, through the Dubai Export Development Corporation, is providing support to manufacturing and industrial sectors to expand their markets and export to other markets such as the European Union,"

Al Awadi said.

"Total non-oil trade between the UAE and EU countries in 2006 had a value of over 415 billion USD and DEDC is working hard to further capitalise on existing opportunities for UAE businesses within the EU market," he added.

DEDC is currently working with investors from EU countries to identify specific projects in the potential areas of investment and to conduct due diligence studies. Studies completed by DEDC that have already attracted investment in the region include manufacture of Probiotics, carbon black and coated and bonded abrasives.

International Trade Commission figures show mineral exports from the GCC to the EU grew 175%in the period 2002 to 2006.

Plastics and metals represent the most important commodities currently being exported from the UAE to GCC and European countries. Current efforts are being targeted to increase trade between the UAE and Europe through the introduction of further economic platforms.