Initial discussions regarding bi-lateral trade agreements introduced to the insurance group at DCCI

They began the meeting which was lead by His Excellency Obaid Humaid Al Tayer, President of (DCCI). The meeting was attended by Miss Amna Al Jalaf and Mr. Hani Al Yateem members of the Board of the DCCI, Mr. Abdul Rahman Al Mutaiwee Director General, Mr. Tariq Lootah Director of trade and industrial developments as well as several members of the Insurance Group. The premiere meeting was a forum to open discussions between the DCCI and the local Insurance companies regarding their requirements on the upcoming bilateral trade agreements.

Mr. Al Tayer wanted to provide an open panel for discussion to all insurance companies to consider these upcoming changes. He stated how the agreement will affect this sector and the possible opportunities for insurance companies by having wider and greater market in the future.

Mr. Al Tayer discussed how the DCCI would implement research to reach the best possible interests, and therefore obstacles must be identified immediately. Certain exclusions could be included in the trade agreements, as they had in other countries that had such agreements with the United States or other countries. Excluded sectors can be for maximum period of ten years. This meeting was an opportunity to discuss possible clauses to the upcoming agreement, and its area's of jurisdiction.

Mr. Al Tayer recommended that they focus on the opportunities that would become available from the upcoming agreements. DCCI recommended that the Insurance companies act as a committee to inform, advice and research its members regarding the upcoming changes; focusing on identifying the exclusions and the future opportunities, and implanting them into a schedule. The meetings concluded by the agreement that the Insurance group would advise its members and begin preparation of strategies for the upcoming changes.