Czech PM making deals in UAE

Czech Republic Prime Minister Mirek Topolanek said in a visit to Dubai Monday that he wants his growing country to boost foreign trade even further with the United Arab Emirates.

To get there, his country wants to export more steel, among other things, to help Dubai's booming construction meet its material needs.

In the last 12 years, Czech imports into the UAE have increased annually from $18 million to $550 million last year as the country emerges as one of the strongest post-communist states thanks in large part due to renewed domestic consumer demand.

Topolanek told XPRESS in an interview this morning that he is “eager to export steel structures'' and noted that the two countries should work on joint projects and construction.

He said that he signed a deal to that effect with officials here on the last leg of a trade mission that in recent days has included Yemen and Vietnam.

The steel deal is worth a reported 1 billion Euros only days after he clinched deals worth $2.5 billion in Vietnam.

Accompanied by 30 Czech businessmen, Topolanek joined a large gathering at the Dubai Chamber led by UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi and Chamber Vice-Chairman Abdul Rahman Saif Al Ghurair.

“You are our biggest trading partner in the whole region, in the Middle East and North Africa,'' he told the delegates. “We are planning the same role as the United Arab Emirates.''

Topolanek was referring to the demographic and geographic similarities between both countries.

The Czech Republic is roughly 78,000 square kilometers in size compared to the UAE's 77,000 square kilometers. The former Czechslovakia is also centrally located in the heart of Europe much like the UAE in the Middle East.

Both countries could act like gateways into each others' regions through the shipment of goods and services.

Some of the top exports from the Czech Republic include stone, glass, cement, asbestos, machinery, electrical equipment, food stuffs and consumer goods.

There are 13 Czech-owned companies operating in Dubai, Topolanek said.

“Investment should be a two-way street,'' he said, noting that before the Second World War, his country was the sixth most-developed economy in the world.

His government is intent on restoring economic growth, he said, through heavy privatisation of state-owned assets to bolster the economy and spur on international investment.

Topolanek said much of the recovery of his country's economy which is experiencing only 6.6 unemployment figures is due to lowering taxes and cutting red tape.

Chamber Vice-Chairman Al Ghurair said Topolanek's visit will “enhance business ties.''

He said investment from the Czech Republic fits well with Dubai Government's Strategic Plan 2015 which aims to increase foreign direct investment.