Pioneering Economic Forum attracts international investors to the Gulf

One of the key sponsors of the event is the regions leading financial intermediary, Dubai Bank whose CEO, Ziad Makkawi, gave the keynote address on private equity and the emerging alliance between the GCC States (in particular the UAE) and Asia. Here he addressed the significance of the respective strengths of each region and spoke of the potential that a stronger economic tie between the two can create.

'It is essential that financial institutions begin to collaborate and create partnerships that will help build bridges to assist business and financial transitions between the Middle East and Asia. Given that vast opportunities exist in both territories, these so called bridges should account for two way traffic. These are regions of robust growth and are somewhat undeveloped markets with large amounts of surplus capital awaiting favorable opportunities for deployment,' Makkawi said.

According to the IMF, China has become the second largest trading partner with the Gulf Cooperation Council after the United States along with India and Pakistan continuing their extensive import and export trade rapport with the Gulf, generating billions of dirhams annually. These examples of the bilateral relationship between the two regions underlie the significance of Asia as a powerful and relevant economic ally to the Middle East.

Speaking on Dubai Bank's contribution to the Asian Private Equity Forum, Ziad Makkawi, remarked: 'We are delighted that Dubai Bank have been allowed to play such a pivotal role in this conference and I am happy that I have been given the opportunity to personally address issues that are not only relevant to the growth of this country but also to the fortifying of the relationship between the historical economic allies of the Middle East and Asia. The Asian Private Equity Forum is the perfect venue to help foster a better economic understanding between these two trading blocs.'

Makkawi continued, 'Dubai Bank recognizes the benefit that exists here. For example, in order to facilitate Asian enterprises with direct access to Middle Eastern capital markets, we recently completed a US$ 35MM GDR issue on DIFX for Man Industries, an Indian company.

'Under the venue of this conference we have a various assortment of CEO's, entrepreneurs and political and corporate decision makers who are all meeting at a forum that is perhaps going to influence and even help shape the future of this region and for this I feel proud that Dubai Bank is a part of the experience.'

Currently being held at the Shangri-la Hotel, in Dubai, the 2006 Asian Private Equity & Venture Capital Forum is being staged from the 23rd to the 25th of April. The event focusing on the investment opportunities between Asia and the Middle East features leading business personalities and professionals from across the two regions in an environment of dialogue and exchange.