DCCI receives a trade delegation from Chile

The delegation was headed by His Excellency Luis Palma Castillo, Chilean Ambassador to the UAE, accompanied by Mr. Roberto Abu-Eid Ayub, Charge d' Affairs at the Chilean Embassy, Mr. Nestor Riveros, Head of the Asia Pacific and New Markets Department at the Ministry of Foreign Affairs in Chile, and Mr. Alex Thiermann, Vice President of the National Chamber of Commerce in Chile.

The meeting was attended by Mr. Abdul Rahman Ghanem Al Mutaiwee, Director General of the DCCI, Mr. Nizar Sardast, Dacca's Advisor, Mr. Sultan Majid Lootah, Acting Director of Business Promotion Department in the DCCI, and a large number of heads of Dacca's other commercial departments and divisions.

Al Mutaiwee welcomed the Chilean delegation stressing the significance of improving the diplomatic and trade relations between the UAE, Dubai in particular, and Chile through the establishment of a commercial representative office in Dubai.

"The DCCI supports the opening a commercial office of Chile in Dubai to help enhance the diplomatic and economic existence of the Chilean businessmen in the region. The DCCI is ready to provide the Chilean businessmen with our services which help enhance the trade exchange between the business communities in both countries, especially since Dubai's imports from Chile are drastically increasing," said Al Mutaiwee.

Dubai's non oil trade in the past few years has increased by 126%, with an annual average of growth that reached 22.6%. He said that Dubai's non-oil foreign trade with Chile in 2004 reached AED 188.1 million (US Dollar 51.2 million).

Al Mutaiwee underlined the attractive facilities which the Dubai Government provides to foreign investors, who benefit from the non existence of taxes on personal and institutional incomes. He said that Chile is the largest country in Latin America in terms of recognized librated and transparent economy and the outstanding consideration of world trade and investments.

"The opening of the Chilean commercial office in Dubai will attribute to the development of bilateral trade ties between Dubai and Chile, especially that the UAE alone imports various commodities from Chile that are estimated at US Dollar 82 million, which equals one third of the total commodities imported by the Arab countries from Chile which are estimated at US Dollar 250 million," he added.

The DCCI's director general noted that the visit of the Chilean trade delegation is significant because it provided a chance to be introduced to the products and investments opportunities available in Chile. He added that it is a chance also to introduce the Chilean commercial officials to the business and investment environment in Dubai and the number of facilities that the Dubai Government provides to investors under the umbrella of the DCCI.

His Excellency Luis Palma Castillo, the Chilean Ambassador to the UAE, highlighted his government's interest in supporting the diplomatic and commercial ties with Dubai, especially since Chile is keen in upgrading its relations with the Arab world and the Middle East in general, through Chile's participation in several international conferences.

"The new commercial representative office for Chile due to be opened in Dubai is expected to play a key role in developing the ties between the business communities in Dubai and Chile," the Chilean Ambassador said.

Mr. Nestor Riveros, Head of the Asia Pacific and New Markets Department at the Ministry of Foreign Affairs in Chile, delivered a presentation through which he talked about the Chilean Government's plan to open doors to take advantage of the investment opportunities in both countries.

He pointed out that Chile's GDP in 2005 reached US Dollar 112 billion, while Chile's foreign trade in the same year reached US Dollar 70 billion, 62% of Chile's total GDP.

"Chile provides a safe environment for investments especially in copper and iron mining, agricultural products, forestry, and infrastructure like transport, energy and road networks. It is the ideal place for investors to start a new business and extend their activities to all countries in Latin America," said Mr. Riveros.

Mr. Alex Thiermann, Vice President of the National Chamber of Commerce in Chile, conducted another presentation in which he spoke about the trade exchange volume between the UAE and Chile which reached US Dollar 226.1 billion. He also talked about the most effective trade activities of Chile which lies in the increasing air cargo shipping with the UAE. Chile exports to the UAE commodities such as wood, fruits and Salmon, while it imports from the UAE cell phones, floor tiles and other electric appliances.

"Chile is willing to become the platform for business investments in Latin America. Chile tries to attract investors from the Arab world to invest in tourism as the country received more than 1.8 million tourists in 2005, and here we invite all investors and businessmen in Dubai to take advantage of the investment opportunities in Chile," he added.

The DCCI's director general stressed in the meeting the importance of having enough detailed data and information about Chile. He also showed the readiness of the DCCI to visit Chile to promote the investment opportunities in Dubai as well as to be introduced to those available in Chile.

He also stressed the necessity of increasing direct flights between Dubai and Santiago and the importance of the Chilean businessmen' participating in local and international trade exhibitions organized in Dubai, especially after opening the Chilean commercial office.