DCCI hosts a seminar on 'Doing Business with Australia'

Mr. Mohammed Hassan El Khatib, Business Development Manager at the Dubai Chamber of Commerce & Industry (DCCI), stressed the important role played by business councils and groups, which were set up and operate under the umbrella of the DCCI, in enhancing communication and supporting trade exchange between the business community in Dubai and its counterparts all over the world.

In his welcoming speech, El Khatib highlighted the strong relations between Australia and the UAE, Dubai in particular, through the rise in the trade volume between the two countries and the increase in the number of Australian companies operating in the UAE, stating that, 'Dubai has kept up its outstanding position as a leading international business hub in the Gulf and Middle East region, and it has also enhanced its role as a gate to the major trade markets in the region.'

'The Australian business community is invited to benefit from the investment opportunities that Dubai offers in the fields of trade, export, travel and tourism, transport, real estate, banking, construction and consultancy services through setting up direct or joint ventures with UAE national partners either in Dubai city or in its related free zones,' said El Khatib.

He noted that the bilateral trade volume between the two partners has increased by 83% during the past three years to reach AED 3 billion in 2004, with an annual rate of growth that reached 16.4%. Dubai's total imports from Australia in 2004 reached AED 2.8 billion, whereas Dubai's exports to Australia in the same year hit AED 115 million, as Dubai's re-exports to Australia in 2004 reached AED 69.5 million.

El Khatib said that the DCCI supports the activities of the business groups and councils including the Australian Business Council. He also called the Australian officials to work on signing bilateral economic agreements such as the agreement of the avoidance of double taxation and the investment protection agreement.

His Excellency Jeremy Bruer, the Australian Ambassador to the UAE, praised the strong diplomatic and trade relations between the two countries, praising the role of the DCCI in supporting the business community and the Australian businessmen working in Dubai. He also highlighted his government's interest in attracting UAE investments to Australia.

His Excellency Peter Linford, the Australian Consul General in the UAE, conducted a presentation in which he talked about the aim of the seminar in enhancing the awareness about the investment opportunities available in Australia and introducing the Australian businessmen to the opportunities of investment in Dubai, the UAE and the Gulf region in general.

Through this seminar which the Australian Government is holding periodically in the GCC countries, it is trying promote Australian products and exports and investment potentials, in addition to encouraging businessmen to set up new businesses in Dubai.

"There are more than 15,000 Australians living and working in the UAE, compared to 4500 Australians in 2002, in addition to more than 300 Australians companies operating in the UAE, compared to only 70 companies in 2002. These figures reflect the distinguished increase in the volume of bilateral trade between Australia and the UAE which reached Australian Dollar 2.2 billion in 2005," said Linford.