Dubai-UK Trade and Economic Committee obtains insight into Dubai 2003 preparations

The presentation on Dubai 2003 was made by Mr. Al Banna at a meeting in London of the Dubai-United Kingdom Trade and Economic Committee (DUKTEC), comprising high-ranking trade officials and business personalities from Dubai and UK. Mr. Al Banna is also General Coordinator of DUKTEC.

At the DUKTEC meeting, Mr. Al Banna provided an update on the status of preparations being made by Dubai 2003 to host this prestigious event for the first time in an Arab country. He stressed that the Annual Meetings will be held as scheduled in September.

He provided details on the arrangements made by specialist committees of Dubai 2003 to cope with the logistical and security requirements and handle the social and cultural programmes that will be conducted on the sidelines of the Annual meetings to highlight the rich heritage of the Gulf.

Mr. Al Banna also spoke on the completion of the Dubai International Convention Centre, which will be the world-class venue for the Annual Meetings, and how private sector delegates can make reservations for seminars and meetings that will be held prior to the Annual Meetings.

The Dubai side at the DUKTEC is led by Mr. Abdullah Saleh, a member of the Board of Directors of Dubai Chamber of Commerce and Industry and Managing Director of National Bank of Dubai while the UK side is headed by Sir David Gore-Booth, Co-Chairman of DUKTEC and Consultant to the Board of Directors of HSBC Holding.

The meeting was also addressed by Mr. Anis Al Jallaf, DUKTEC member and Chairman of Dubai International Financial Centre (DIFC), who spoke on the role of DIFC towards further enhancing economic growth in the UAE.

DUKTEC was established in 1997 on the instructions of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister to help boost bilateral trade and economic relations as well as direct and joint investment. The meetings are held twice a year, alternately in Dubai and London.

To strengthen its programme of activities, DUKTEC has set up sub-committees in charge of different areas including healthcare, education, tourism, finance, manufacturing, information technology, e-commerce. The sub-committees prepare proposals on various joint projects which are then submitted to the main committee for approval and implementation.

The Annual Meetings of the Boards of Governors of the World Bank Group and International Monetary Fund were first held in Washington DC in 1946. They are hosted by an international city one year in three. Dubai and the UAE was selected because of its highly developed transportation and logistics infrastructure, growing importance as a financial hub and its established position as an oasis of opportunity.