Swedish businesses show keen interest in Jafza

EZW officials including representatives from its group companies Jafza, TechnoPark - the group's science and technology facilitator and Gazeley, global provider of sustainable logistics and distribution solutions, met with over 80 Swedish companies at the business seminar organised by the Dubai Department of Tourism and Commerce Marketing (DTCM) in association with the Swedish Trade Council.

The seminar was attended by senior government officials from both countries including HE Sheikha Najla Al Qasimi, UAE Ambassador in Sweden and leading businessmen from Sweden and other Nordic countries.

Dubai's non-oil trade with Sweden including free zone and customs warehouse trade , rose by 38% to Dhs3.94bn at the end of 2008 in contrast to Dhs2.86bn in 2007. Imports grew by 38%, rising from Dhs2.79bn in 2007 to Dhs3.86bn in 2008 and exports by 22% from Dhs44m in 2007 to Dhs53m in 2008. The re-exports grew from Dhs24.2m in 2007 to Dhs24.7m in 2008. Over 60% of any country's exports into Dubai are meant to serve the requirements of the regional markets.

Commenting on the strong growth in trade, Ibrahim Al Janahi, Chief Commercial Officer, UAE region of the group said that both Dubai and Sweden had witnessed increasing bilateral trade over the last few years and he expected this commercial cooperation to further strengthen in the future.

Al Janahi's comments echoed the sentiments of UAE Minister of Foreign Trade H.E. Sheikha Lubna bint Khalid Al Qasimi, who last month led a UAE delegation to Sweden to discuss trade opportunities between the two nations as well as between the UAE and the EU as Sweden assumes the European Union's presidency in the second half of 2009.

Ibrahim Al Janahi said, "Sweden is an export-oriented market economy with very strong telecommunications, automotive and pharmaceutical industries among others. A number of Swedish companies have established themselves in the UAE in the past decade to serve the GCC and the other Middle Eastern markets and Jafza alone is home to over 20 leading Swedish companies. Most recently Jafza welcomed Scania to its business community. In general, Nordic companies make extremely reliable and attractive trade partners."

"What really draws foreign investors to Jafza is not just its unbeatable competitive combination of geographical, cost, market and logistics infrastructure advantages but the fact that we offer safety and security of investment - something that becomes crucial in today's economic times," Al Janahi added.

Lena Skogström Ericson, Director of DTCM in the Nordic countries, was delighted over the number of participants who attended the seminar and showed a keen interest in the opportunities offered by Dubai's free-market economy and Jafza.

"We are very enthusiastic about the wonderful response we received from technical and other manufacturing companies," said Ms. Ericson.