DCCI is to organize the 1st UAE Trade Exhibition in Libya

The announcement came in a press conference held at DCCI today, attended by Mr. Walid Hareb, Senior Manager, Projects Department, Jebel Ali Free Zone Authority (JAFZA), Mr. Khaled Bin Nassar, Officer, Overseas, Dubai Tourism Commercial Marketing Department (DTCM), Mr. Leith Kubba, Director, Streamline Marketing. The Exhibition is being organized collectively by DCCI, JAFZA, and DTCM, while Streamline Marketing Company will be the technical organizer. More 100 companies are expected to participate in the Exhibition- according to Mr. Mutaiwee.

"We consider the event as a perfect marketing and promotional option to cement our excellent relations and develop new venues for bilateral trade and economic cooperation with our sister country Jamahiriya Libya. Thanks to the fruitful visit of HH General Sheikh Mohammed Bin Rashid Al Maktoum The Crown Prince of Dubai and UAE Minister of Defense to the Jamahiriya Libya last year which paved the way for healthier and continued contribution of businessmen in both countries for larger economic cooperation, trade flow, investment in joint projects in the UAE and Libya", said Mr. Mutaiwee.

He added that the Exhibition is also a practical and significant stride towards opening new markets for the UAE traders, manufacturers and services establishments in Libya the gateway for the North African countries which include Tunisia, Algeria, Morocco and Mauritania besides the West African countries including Mali, Togo, Niger, Nigeria, Senegal, Ivory Coast, Ghana and Chad. These countries are net importers of various types of goods to durables, raw material and machinery. Businessmen and entrepreneurs in the UAE can develop and maintain stronger relations with their Libyan counterparts to tap the limitless opportunities utilizing the easy access to these countries by sea, road and air. Libya is also strategically located near to the north Mediterranean Countries including Malta, Cyprus, Greece, Italy, France and Spain.

The volume of our bilateral trade with Libya saw a remarkable increase to reach Dhs 1.6 billion in 2003 registering of 230 percent increase over the year 2000. It is expected to touch new heights in the coming few years. "This has encouraged us to organize such exhibition to further enhance and diversify our trade and business relations", Mr. Mutaiwee stated.

He expressed his hope that the event would be held annually, assuring that it will be organized in a professional manner. He added: "We expect a high increase of investments flow in joint projects and direct investments geared by the relaxed business environment in Libya followed by the lifting of UN economic sanctions on Libya and by the open economic measures initiated recently by Jamahiriya Libya", he concluded.

Another speaker, Mr. Walid Hareb disclosed that JAFZA is to announce soon a huge project that will be reflected in a wider range of cooperation with Arab countries. He added that JAFZA will exploit the UAE Trade Exhibition in Jamahiriya Libya to arrange for business opportunities for the local companies and for the international companies operating in Jebel Ali Free Zone.

Mr. Nassar said that DCTM finds Jamahiriya a promising tourist market, and that will encourage more steps to promote cooperation in that regard.