Dubai strategically placed to play vital role in rebuilding Iraq

Speaking at the opening today of the 8th Automotive Aftermarket Middle East (AAME) exhibition - Dubai's annual international trade show for vehicle parts, accessories, tyres, batteries and garage equipment - Al Mutaiwee said Iraq represented a huge business opportunity for local, regional and international companies.

'Dubai has the capability and experience necessary to take a leading part in the rebuilding of Iraq. We expect to see a big increase in exports and re-exports as reconstruction gathers pace.

'Iraq is effectively a new market, not just for the autoparts industry. There will be opportunities in all commercial sectors and Dubai, as the leading regional trading hub, is ready to play its part in helping put Iraq's economy back on its feet.'

Al Mutaiwee said exhibitions, such as AAME 2003, underline the key role Dubai plays in the development not only of the UAE economy but the region as a whole.

'The show is substantially bigger than last year. This, combined with the presence of so many international exhibitors, especially from Turkey, Iran, China and the Sub Continent, demonstrates the importance of the Middle East market globally,' Al Mutaiwee said. 'Many of the companies not only want to increase regional exports but are also looking to establish local offices.'

Industry sources estimate the Middle East spare parts and accessories trade is worth US $8 billion and is expanding at 5% annually. The value of re-exports from Dubai is put at US $1.5 billion.

Praising organiser International Expo-Consults for overcoming problems posed by the conflict in Iraq and, more recently, SARS, Al Mutaiwee said: 'Dubai has once again shown it excels in organising exhibitions and conferences, even in difficult times.'

AAME 2003 is being held at the Dubai International Exhibition Centre (DIEC) until Thursday (May 8). Despite a six-week postponement caused by the war in Iraq, the show is 33% larger than the 2002 event. It features over 150 vehicle spare parts, component and accessory manufacturers and suppliers, from North and South America, Europe, the Middle and Far East and Australasia.

The trade only exhibition is open from 10 am to 1 pm and from 5 pm until 9 pm daily. No one under the age of 18 years will be admitted.