Chile and Dubai sign trade partnership

The agreement was signed by Saed Al Awadi, CEO of the Dubai Export Development Corporation (EDC) - an agency within the Dubai Economic Department - and Alicia Frohmann, Director of the Chilean Department of Export Promotion (ProChile), in Dubai on Sunday, the 18th of October 2009.

Senior government officials and trade representatives from Chile and Dubai attended the signing ceremony, held alongside the 'Chilean Week', a showcase of Chilean culture and commerce being held in Dubai from the 17th to the 24th of October 2009.

The MoU establishes a framework for co-operation between Chile and the emirate of Dubai in expediting access to each other's markets for their respective goods and services.

ProChile and Dubai Export Development Corporation also agreed to work together to facilitate exchange of information and mutual visits between trade delegations and entrepreneurs from Chile and Dubai. Both parties will also develop and support training programmes as part of a long-term strategy to promote bilateral trade.

"Dubai continues to hold a lot of promise for global trade. Its unmatched infrastructure, international outlook and connectivity have made Dubai an indisputable force. Much like Dubai is a major gateway to the Asian, Middle East and North African markets, Chile offers the easiest access to the Europe and the Americas,"

said Frohmann.

"This Memorandum of Understanding seeks to strengthen trade relations between the UAE and Chile through a greater flow of mutual trade missions, which we hope will lead to stronger business relationships between companies in the two countries. Sharing on-the-ground knowledge of the respective local standards, pricing systems and packaging requirements is another important objective of this agreement," Mr Al Awadi added.

Bilateral trade between Chile and the UAE crossed $113m in 2008, from $81m in 2005. Exports from Chile contributed over $107m to bilateral trade in 2008 while imports grew by over 200%, compared to the previous year. Currently, UAE is ranked No: 54 as a trading partner of Chile and No: 44 as a destination for Chilean exports.