DCCI participates in the 6th General Assembly meeting of the World Trade Point Federation in Bangkok, International Forum of small and medium enterprises

The celebration took place during the DCCI's participation in the 6th general assembly meeting of the World Trade Point Federation in Bangkok, under the sponsorship of Shangmai Trade Point in Thailand on November 7-9. The world forum on small and medium enterprises was held as a side activity of the meeting.

Dubai was promoted as an interesting destination for investment during the meeting which also discussed ways of cooperation between the trade points. Mr. Brouno Masier, Chairman of the World Trade Point Union, handed over the membership certificate of DTP to Mrs. Shamsa Fareed Zainal, Manager of DTP, on behalf of the DCCI.

The meeting was held this year in Thailand in cooperation with World Trade Point Federation and United Nations Conference for Trade and Development (UNCTAD), supported by the Thai Ministry of Industry, Department of Industrial Promotion, Promotion Office of Small and Medium Enterprises and Thailand's Exhibitions and Convention Center. The meeting discussed the development of small and medium enterprises, world trade and exports promotion. It aimed at enhancing ties of cooperation among the trade points.

The meeting was attended by Mr. Chakamon, permanent secretary of the Thai Ministry of Industry, Dr. Supachi Panitechpakdi, Assistant Secretary General of UNCTAD, and Mr. Brouno Masier, Chairman of the World Trade Point Federation.

The World Trade Point Federation is an international non-profit organization that was established in 2000. It developed the issue of trade points which was announced at the UNCTAD conference. A network of more than 140 trade information centers, better known as trade points, were established in more than 92 countries.

The trade points in these countries are considered as developed centers for information which facilitate the international trade practice through e-commerce. This helps small and medium commercial enterprises to obtain serious trade and investment opportunities in the world market. These centers are also considered as an important source for information to the business community which provides statistics and economic data.

DTP, which operates under the umbrella of DCCI, contributes in putting Dubai on the world map and in promoting the business community locally and globally. The DTP provides business establishments in Dubai with the needed information and helps them entering the world market through the electronic commerce system, which consequently, could benefit from thousands of investment opportunities all over the world. DTP will help reduce the commercial transactions expenses.

The commercial information provided by the DTP includes customer prices index, insurance facilities, financial resources, foreign trade statistics, rules and laws of world trade and its related economic indicators, rules and laws of customs and specifications of commodities.

Mr. Chakamon, secretary of the Thai Ministry of Industry, gave his welcoming speech at the meeting, followed by a speech conducted by Dr. Panitechpakdi, Secretary General of UNCTAD, in which he highlighted the role of UNCTAD in supporting the small and medium enterprises through workshops.

He pointed out that small and medium enterprises help developing countries and they are the backbone of its economy. He added that the establishment of these enterprises should be encouraged and supported for better exports and opening markets, and that the government should help in arranging special programs for exports and the utilization of technology.

Mr. Supachi pointed out that 30 to 50% of the world's exports come from small and medium enterprises, as these establishments help recruiting laborers, combating poverty, spreading technology and skills, contributing to the national income and improving the countries' infrastructures.

Mr. Masier, Chairman of the World Trade Point Federation, also talked about the importance of having the procedures of commercial deals amongst countries, as well as its related rules and laws, so flexible and transparent to enable the small and medium enterprises enter the world market easily, the aim for which the World Trade Point Union was established.

The World Trade Point Union cooperates with the UNCTAD, World Trade Organization (WTO), World Bank, United Nations Economic Mission in Europe, World Trade Center and The Center for Promotion Developing Countries' of imports in the Netherlands. It also cooperates with the top private sector corporations such as siemens, Earnest and Young and Coface.

The meeting discussed the achievement report of 2005 and the budget of the World Trade Point Federation for 2006, in addition to set some amendments to certain rules of the Federation and improving the website of the Federation, which received more than 10,000 investment opportunities from 92 countries in 2005.

The meeting was concluded with choosing the South Africa Trade Point to host the 7th meeting of the Federation general assembly in 2006 where a full demonstration will be conducted on the investment environment in South Africa.