Supported by DCCI, the Renewal and Reconstruction in Iraq Conference started on Saturday

Mr. Mutaiwee' s remarks came in his speech in the opening session of the Renewal & Reconstruction in Iraq Conference & Exhibition, organized by IBC Gulf Construction and supported by DCCI, at G.W. Marriott Hotel in Dubai 25-27 September 2004.

The three day conference tackles key issues affecting investment decisions in Iraq. It highlights the major investment opportunities across the spectrum of major industry projects, with a panel of experts examining the current status and future prospects of Iraqi reconstruction and enable investors to form competitive investment strategies in a changeable and uncertain climate.

In his speech, Mr. Mutaiwee emphasized, "DCCI believe in the necessity of the rehabilitation and reconstruction in Iraq which will in the near future retain its business and economic role in the entire region."

The Director-General of DCCI remarked that the interest shown by the business community in the UAE to this conference coincide with the efforts initiated by the Dubai Chamber of commerce & Industry to extend all possible assistance and facilitates interaction between businessmen and
look into means for solving any possible difficulty that might face the businessmen and companies in both countries during the process of business co-operation for the reconstruction of Iraq and the rehabilitation of its infrastructure.

"Dubai being a key gate way to the region and international markets and the center of export and re-export to the Indian Subcontinent, Iran, East and West Africa and the other regional and international markets. Dubai with its highly developed and integrated infrastructure and the fabulous facilities extended for business community and other sectors has gained excellent reputation in the world business community and maintained progressive increase in its economic and social development growth", He added.

Mr. Mutaiwee told the conference that the Dubai Chamber of Commerce & Industry implements a development strategy which focuses on business activities of high profile with the view to further accelerate the economic growth and develop the business sectors.

"The DCCI in its endeavor to strengthen business relations between businessmen in UAE and Iraq encourages and welcomes organizing such conference and the exchange of business delegations to look into the question of Iraq reconstruction. We have also encouraged the establishment of Iraqi Business Council which operates under the umbrella of the DCCI in order to support the Iraqi businessmen community outside Iraq. The Iraq Business Council in co-operation with the Dubai business community could play a significant and effective role in the process of reconstruction of Iraq", Mr. Mutaiwee added.

He said, "The phenomenal growth of the bilateral Non-oil Trade between Dubai and Iraq in the year 2003 which reached about Dhs.2.25 billion, reflects the high level of common interest to develop the economic relations between our countries. Our ambition is to increase and intensify economic cooperation to match the excellent relations that bind our two business communities which particularly have positive impact on the efforts geared towards the reconstruction of Iraq."