Dubai 2003 set to be springboard for greater trade opportunities between UAE and Australia

Annual trade between the two countries is already at Dhs 4.7 billion per annum and has been increasing at a rate of 20 per cent a year over the past three years.

The booming trade between the countries was one of many topics discussed during a recent meeting by Dubai 2003 General Coordinator Mr. Ibrahim Belselah and the Australian Ambassador to the UAE Mr. Noel Campbell. The arrival of a full delegation from Australia to participate in the event is expected to give an added boost to the dynamic economic relationship between the two nations.

Mr. Campbell explained that the hugely successful trade links had been enhanced by the rapid growth of flights by Emirates Airline to Australia with a non-stop service to Sydney about to commence. Increasing numbers of UAE residents were choosing to travel to Australia with many Australians now visiting Dubai as a destination or spending time in the city as a stopover to other locales.

Mr. Ibrahim Belselah said: "Australia has probably been one of the UAE's fastest growing trade partners over the past three years. I am confident that their participation in the Annual Meetings can only enhance our tremendous trading relationship even further.

"Today the UAE represents Australia's fastest growing export market and we are looking forward to welcoming the Australian delegation to the UAE in September and working closely with them to further develop the links between our two countries."

During the meeting wide ranging logistical issues surrounding the meetings were also discussed including security, hotel accommodation, the registration process and the Programme of Seminars.

This year, the Annual Meetings will be held on September 23 and 24, and this marks the first time these meetings have been held in the Arab World. The overall event will be held from September 18 to 25, 2003.

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