Dubai: The Belgium government calls to enhance bilateral ties with the UAE and confirms the capability to support the economic growth of the emirates in the coming years, Pieter De Crem, Belgian Federal Secretary of State for Foreign Trade, said on Thursday.
De Crem was speaking at the UAE-Belgium forum in Dubai, organised by Dubai Chamber of Commerce and Industry as a part of the Belgium economic mission to the UAE headed by Princess Astrid and delegation of ministers.
“The constructive cooperation will continue to grow in the 21st century and I am looking forward to the results of the UAE strategy, to become one of the world’s most innovative nations in seven years,” he said. “I am convinced that Belgian companies can make a significant contribution in helping the UAE achieve its objectives.”
De Crem described the relations between the UAE and Belgium as “excellent”. The Belgian community in the UAE is the largest in the Gulf region with 3,000 people living and working here.
“The UAE is by far the most important trading partner in the Arab world as it is a base of stability, prosperity, development and progress,” he said.
Belgium is the fifth major exporter of goods to the UAE and the largest importer of goods from the UAE within the EU, he added.
However, on the global level, the UAE is Belgium’s 19th largest customer and 21st largest supplier just after Canada and preceding Brazil, according to him.
De Crem highlighted the potential of Belgian companies in the areas of construction, utility, medical, chemical and logistics to play an important role in the development of new infrastructure across the emirates.
Trade partner
Hesham Al Shirawi, vice-chairman of the Dubai Chamber, also highlighted the importance of Dubai as strategic trade partner to Belgium, as a re-export hub with strong links across the Middle East, Africa and South East Asia.
“Belgium was ranked Dubai’s 11th largest international trade partner for the first nine months of 2014 with a non-oil trade value of Dh25 billion,” he said, adding that in 2013 the total value of Dubai-Belgium non-oil trade was estimated at “Dh30 billion, a 17 per cent increase on the 2012 value of Dh25.5 billion”.
Mineral fuels, organic chemicals, aluminium, copper, electronic equipment’s, iron and steel, pharmaceutical, automotive parts and plastic are the main trading commodities between the two countries.
There are 118 Belgian companies currently among Dubai Chamber members.
Through the forum, Dubai Chamber said it hopes to encourage stronger business cooperation and two-way investment across key sectors, including trade and tourism.
During the forum, two memorandums of understanding (MoUs) were signed, the first with the Chamber of Commerce and Industry of Antwerp-Waasland, and the second with the Federation of Belgian Chambers of Commerce, the Arab-Belgium-Luxembourg Chamber of Commerce and the Brussels Enterprises Commerce and Industry.
The aim of these MoUs is to enhance bilateral trade and economic relations and explore joint ventures and collaboration, paving the way for new economic growth, Al Shirawi said.
According to the Dubai Chamber Belgian economy is forecast to grow 1.4 per cent in 2015 and by around 1.5 per cent in 2016.
