Al Mutaiwee: 500 Billion US Dollars the Middle East share in The International Trade

He pointed in his speech to the increase in the Middle East share in the world trade from 369 billion US Dollars in 1999 to 500 billion US Dollars in 2003.

He magnified the conference's agenda that covers significant and important issues broadly, regional country risks analysis, doing business in the Middle East, the role of trade finance in major business centers besides major issues related to international credit.

Mr. Al Mutaiwee pointed to the significant developments of the banking and financial sector in the UAE in the last three decades. He said "The commercial banks have made spectacular performances with combined profits of Dh. 5.25 billion in 2003 against Dh 4.52 billion in 2002".

He appreciated the UAE Central bank role in introducing balanced polices. He said "Measures were also taken to combat the international phenomimum of money laundering". This issue occupied the Central Bank attention in 2002 since then measures were taken to ensure the adequate controls are in place to prevent money laundering. The bank has formulated a comprehensive Anti- Money Laundering System.

DCCI supports this conference to serve the economic sectors in Dubai which benefits the national economy. This initiative from DCCI aims to enhance the chambers role as a leading authority and the favorite source for the businessmen. The two days conference is organized by FCIB Association. The international trade forum will be on the second day.

Number of speakers will talk in the conference, Dr. Hans Belcsak the President of S.J. and associates made a presentation on regional country risk analysis in today's global market.