Business | Economy
Dubai-Hamburg ties to get a boost
New avenues of business cooperation and trade will be opened during the Hamburg business forum this week, according to Hamad Bu Amim, director-general of the Dubai Chamber of Commerce and Industry.
- By Suzanne Fenton, Staff Reporter
- Published: 23:30 December 16, 2008
Dubai: New avenues of business cooperation and trade will be opened during the Hamburg business forum this week, according to Hamad Bu Amim, director-general of the Dubai Chamber of Commerce and Industry.
The forum is expected to boost an already strong business relationship between the two cities.
The volume of non-oil trade between Dubai and Germany as a whole stood at Dh28 billion in 2007, a figure that is likely to increase as trade and new business strategies come in to play.
German business activity is already thriving in Dubai with about 577 German companies operating in sectors like manufacturing, trade, tourism and financial services.
Speaking to Gulf News before departing for the Hamburg business forum, Bu Amim said at least 10 Dubai-based speakers in the 60-strong delegation are expected to speak during the forum on topics such as banking and finance, logistics and foreign trade.
Delegates include Saeek Khoury, group chief executive of Enoc; Amer Ali, chief executive of Dubai Maritime City; Abdullah Al Qurashi, chief executive of Dubai Aviation City and Dubai Logistics Park; Khalid Al Kamda, member of the board of directors of Dubai Islamic Bank and former executive of the bank.
Common features
Hamburg is Europe's second largest container port after Rotterdam.
The first forum was held in October and included 60 CEOs and business leaders from Hamburg. Dubai and Hamburg share several common features of econ-omic importance due to their strategic locations, active business climate and the investment opportunities available.
"As Germany enjoys a top rank among the most developed European economies, Hamburg, with its significant location in the heart of Europe, has enhanced its importance as a massive world business hub and a unique trade centre that offers the best logistics services and commercial practices between eastern Europe, the boom countries of the Baltic and the Asia-Pacific region, while Dubai... is the ideal entry point to the MENA region and a thriving east-meets-west business destination," Bu Amim said.
Dubai and Hamburg are also significant trade centres and hubs of regional goods transshipment.
"As the UAE and the other Gulf states continue along their industrial development path, Hamburg-based companies will increase their trade in commodities and semi-finished products, such as petrochemical products and grow their sales in industrial finished products, such as machinery and machine parts and medical products, while Dubai is poised to strengthen its position as a major export and re-export centre catering to a number of Gulf, far east and Asian destinations," Bu Amim added.
During the two-day business forum, the Dubai delegation will visit the Airbus Industrie facility that manufactures the Emirates A380, Hamburg Port and international airport and other key companies.
Bu Amim hopes new avenues of business and trade will be opened between the two cities following the forum.
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