Dubai Chamber signs MoU with Polish Information and Foreign Investment Agency

The agreement was signed on the sidelines of the Poland-UAE Investment Forum held at Hyatt Hotel Warsaw recently.

H.E. Hamad Buamim, Director General, Dubai Chamber, signed the MoU along with Mr. Slawomir Majman, President, Polish Information and Foreign Investment Agency, in the presence of H.E. Sultan Al Mansouri, UAE Minister of Economy, and Mr. Janusz Piechociñski, Deputy Prime Minister, Minister of Economy of Poland.

The agreement aims to strengthen and assist cooperation for enhancement of business and investment activities, joint ventures, as well as to develop direct contacts between businesses in Poland and Dubai.

It also emphasizes on the exchange of expertise and information on fairs and exhibitions and business meetings aiming at economic development for the two countries.

H.E. Buamim stated that the agreement opens the doors of investment opportunities for both the sides, particularly with the launch of the Emirate's daily flights to the Polish capital which will allow for a stronger two-way flow of trade for businesses on either side, he said.

The Director General of Dubai Chamber stated that the strategic bilateral cooperation is the continuation of efforts that started with the visit of the country's Prime Minister H.E. Donald Tusk for the UAE-Poland-Business Forum at Dubai Chamber last April which laid the foundation of a long-term trade relationship. Now, the announcement of the opening of a Polish trade office in Dubai will provide further boost to the economic relationship between both the sides, he said.

In his welcome address during the Forum, Buamim said, "Exploring Eastern Europe is a priority for Dubai Chamber which comes in line with the recommendations of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, as well as the expansion into promising markets of the world, hence this forum provided an ideal platform for us to discuss strengthening of economic relations with our Polish partners."

Buamim added that Dubai and Poland shared many similarities as Dubai is an East meets West destination and gateway to the regional market, South East Asia and Africa while Poland is a strategic link way to Russia and Europe and a corridor to East European countries.

The Director General of Dubai Chamber urged Polish businesses to benefit from the strategic position Dubai enjoyed as a base to reach out to their customers in the region and beyond as well as its government's unconditional support to all global investors.

Buamim also highlighted Dubai's lucrative investment potential as well as its safe and stable business environment which makes the emirate one of the leading centres of global business in the Middle East, adding that trade, tourism, logistics and financial services were the real drivers of Dubai's economic growth and held great potential for Polish investors.

He took the opportunity to highlight the latest statistics of Dubai's economy by highlighting the passenger numbers at Dubai International Airport which registered a record growth of 13.2% in 2012 as 57 million passengers passed through the airport making it the third largest airport in the world while the airport handled 344,245 flights with a 5.5% growth in comparison to the year 2011.

Buamim informed that the volume of cargo handled by Dubai Airport rose to 3.9% as it handled a total of 2.28 million tonnes of cargo which clearly shows the rising profile of Dubai as a logistics hub in the region, he said.

He further said that the number of tourists arriving in Dubai in the first nine months of 2012 was 7.2 million with a growth of 9% while the number of guest nights was 27.2 million registering a growth rate of 15% which shows the leading position enjoyed by Dubai which can be an ideal holiday destination for Polish travellers.

Buamim also emphasised on the excellent performance of Dubai Chamber members' exports and re-exports which valued at Dhs268bn last year as he said the Chamber's goal this year is to enhance the competitiveness of the emirate's businesses in the overseas markets while also introducing them to the promising markets of the world.

The UAE delegation visit to Poland came during the inaugural flight of Emirates airline to Warsaw which saw the hosting of the Poland-UAE Business Forum as well as the first meeting of the Joint Commission on Economic Cooperation between the UAE and Poland and the announcement of the opening of the Polish trade office in Dubai.