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Trade Delegation from Singapore Invites DCCI and Members to Participate in the Economic Events Organized by the Singapore Economic Development Board

United Arab Emirates: Wednesday, July 06 - 2005 @ 14:32

The meeting discussed ways of enhancing and developing the bilateral trade relations between the UAE and Singapore through inviting the UAE investors, businessmen and the DCCI members to take part in the international economic activities, conventions and trade exhibitions which the Singapore Economic Development Board is organizing this year.

Al Mutaiwee welcomed the Singaporean delegate and stressed the economic significance of Singapore to the UAE, and to Dubai in particular, as one of the biggest trade markets in the world, due to the same economic factors, initiatives and positions which both countries enjoy.

“We at DCCI are very keen to develop our economic and trade ties with Singapore and we are always working on providing our members with all the necessary information about the giant trade markets such as the Singaporean market which gained several successful achievements in the international business market,” said Al Mutaiwee.

The director general of DCCI pointed out that the Dubai Chamber supports and supervises the work of more than 29 business councils in Dubai, as each council consists of a group of trade companies that represent certain countries of the world, including the Singaporean Business Council.

He noted that these business councils act as chambers of commerce to the countries of which they represent, and these councils are highly supported by the DCCI to help develop their businesses and have better contacts with the DCCI’s members, in addition to work as an indispensable link between these business councils and the other authorities concerned inside and outside the UAE.

“Dubai Chamber also supports more than 45 trade centers that represent a number of countries and the DCCI helps them in getting the required commercial licenses to operate properly in Dubai,” said Al Mutaiwee.

Mr. Wong Peng Wai, Director of the Singapore Economic Development Board, briefed the DCCI director general about the board and its mission and services offered to its members of the Singaporean businessmen and investors. He also highlighted the importance of meeting different government and private economic sectors in the UAE, and Dubai in particular.

“Our board deals with many big commercial companies from all over the world, 180 of which are located in the Middle East and the Arabian Gulf. We are interested in enhancing the trade cooperation between Singapore and Dubai relying on our basic strategy which aimed at extending our businesses and services outside Singapore through organizing and planning for many economic forums and international trade exhibitions and conferences through which we can find new international commercial markets and set up many other economic partnerships,” Wai added.

He invited the members of the Dubai Chamber to participate in the economic forum which his board is organizing in September and which will include conducting more than 35 economic conferences in four days with the attendance of thousands of businessmen, economic experts and industrialists from all over the world, in addition to the International Islamic Enterprises Forum which is expected to lure hundreds of Arab and Muslim businessmen.

“We are glad to invite the DCCI’s members to participate in this important economic gathering which we expect would help strengthen the trade ties between the UAE and Singapore and help attract investments and develop businesses in both countries,” said Wai.

Dubai’s total non-oil trade with Singapore touched Dhs 2.3 billion in 2003 (US Dollars 641.2 million). Dubai’s total imports from Singapore in the same year reached Dhs 2.1 billion (US Dollar 560.5 million), while Dubai’s exports to Singapore in 2003 hit Dhs 98.4 million (US Dollar 26.8 million), whereas Dubai’s re-exports to Singapore in the same year was Dhs 198.1 million (US Dollar 53.9 million).

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Wednesday, July 6- 2005 @ 14:32 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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