A strategic partnership

The heads of Dubai Chamber of Commerce and Industry and Hamburg Chamber of Commerce talk in depth about initiatives and achievements and their expectations of the Dubai-Hamburg Business Forum 2007.

The Dubai Chamber of Commerce and Industry (Dubai Chamber) was established in 1965 by a decree issued by the late Shaikh Rashid Bin Saeed Al Maktoum. For 40 years Dubai Chamber has played a crucial role in highlighting Dubai as an international business and services hub. Its main objectives include representing the economic interests of its members to help support commercial activities in the UAE, developing commercial legislation that regulates different economic sectors and presenting suggestions.

Dubai Chamber participates in a number of major economic activities and events that are held in Dubai annually, including major exhibitions such as Gitex, Big 5, Arab Health Exhibition and Arabian Travel Market Exhibition among others.
Engineer Hamad Buamim, Director General of the Dubai Chamber of Commerce and Industry, spoke about Dubai Chamber's new initiatives, its joint venture with the Hamburg Chamber of Commerce and much more. Excerpts:

What are the new initiatives of Dubai Chamber?
Dubai Chamber launched a number of initiatives during 2006-2007, including the Dubai Trade Point (DTP) in 2006, which is an electronic business portal that facilitates international trade through e-commerce and helps the commercial corporations and the small- and medium-seized enterprises to obtain trade and investment opportunities in the international trade market.

DTP's significance lies in its ability to help subscribers access world markets through the e-commerce system, as well as give them the opportunity to use the Global Trade Point Net (GTP Net) that contains numerous business opportunities. Dubai Chamber has also launched the new Spanish Business Council in 2006, to be added to another 34 business councils that work under the umbrella of the Dubai Chamber and represents the commercial interests of a number of countries.

In October 2006, Dubai Chamber launched a TV commercial campaign to promote Dubai and its economic activities. Dubai Chamber successfully organised the ceremony of Mohammad Bin Rashid Al Maktoum Business Awards 2006. The Dubai Chamber also organised a number of events and conferences. It has prepared two inclusive economic studies on the bilateral trade relations between the UAE and South Korea and between the UAE and Vietnam. Both studies illustrate the potential investment opportunities in those countries.

Dubai Chamber is one of the main drivers of Dubai's economic growth. What are your plans for the next five years?
Dubai Chamber plans to improve, increase and extend its quality services to every member of the UAE business community. The chamber plans to add more services to meet the needs and requirements of local and foreign investors and businessmen operating in Dubai. It will launch initiatives that will help enhance businesses in the UAE, attract investors and members to the chamber.

What effect do you think Dubai Chamber's joint venture with the HCC will have education and knowledge building sectors?
As long as the Dubai-Hamburg Business Forum establishes a new era of bilateral economic cooperation in sectors such as energy, aviation, healthcare, banking and maritime, it is expected to lay the foundation stone of cooperation between the two cities in other sectors such as education. One of the forum's basic objectives is the transfer of German knowledge to the country. Dubai is keen to establish a relationship with Hamburg in the educational sector by activating a students' exchange programme between the University of Dubai and one of Hamburg's major universities or famous educational institutions.

What are the main objectives of the Dubai Business Women's Council?
Dubai Chamber established the Dubai Business Women's Council in 2002. The council empowers the role of UAE businesswomen to develop the economic, social and cultural aspects of life. It works to foster equal opportunity in the world of commerce and helps businesswomen develop their own business enterprises. The council works with Dubai Chamber to support women entrepreneurs with access to a range of B2B tools and useful database to enhance their strengths and competitiveness.

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Representing about 140,000 member companies, the Hamburg Chamber of Commerce (HCC) is one of the largest and most influential chambers of commerce in Europe. The HCC is the voice of Hamburg's economy. It connects business contacts worldwide and helps foreign companies get settled in Hamburg and expand their connections.

It works to lower trade restrictions, thus contributing to Hamburg's motto of opening the 'Gate to the World'. HCC contributes to shape a market-based legislative and regulatory environment that is conductive especially to small- and medium-size enterprises.

To serve Hamburg's business community, the chamber concentrates on eight areas — economic policy, business start-up and development assistance, training and continuing education, trading, innovation and the environment, international trade and legal affairs and fair business practices.

Professor Dr. Hans-Jorge Schmidt-Trenz, the CEO of Hamburg Chamber of Commerce spoke about HCC's activities, Dubai-Hamburg Business Forum 2007 and other issues. Excerpts:

What are the activities conducted by the HCC to promote growth and business opportunity in Hamburg? Do you have any special initiatives for young entrepreneurs in your region?
The HCC is active in all sectors of business services and political lobbying and acts as an independent advocate of the free-market economy. It supports foreign companies trying to get a foothold in the European markets. It creates business contacts worldwide and gives advice in matters related to import and export regulations. It is active in vocational and continuous training as well as in arbitration.

It fosters innovation and helps improve the infrastructure. For young entrepreneurs in the start-up phase, the HCC has developed a starter's kit. It hosts seminars, conferences and networking events for company starters.

What will be the main outcome of the Dubai-Hamburg Business Forum 2007? How will it strengthen business opportunities between the UAE and Germany?
For Hamburg and its business community, the relationship with Dubai plays an important role. Both places are trading and logistics hubs for their respective regions.

The Dubai-Hamburg Business Forum 2007 is the first bilateral conference between the two cities. The forum will deepen business relations. Further steps for intensifying the bilateral relationship can only be reached through an open dialogue. The forum will start this dialogue and it will inform entrepreneurs from both sides on the economic potential of their respective partners. As a result, the participants will jointly identify fields of cooperation. They can use the forum as an excellent opportunity to establish business contacts.

How do you see Dubai growing in the next few years? How will this growth affect Germany's trade and commerce?
Dubai is one of the biggest markets for German products in the region. Dubai's burgeoning economy will provide better export opportunities for our products and services. Currently, our chamber of commerce sees a strong tendency of German and Hamburg-based companies to establish branches or affiliates in Dubai. This is due to the Hamburg Representative Office in Dubai that supports Hamburg business activities there.

More than 400 Hamburg firms have business contacts with Dubai. Germany's trade with Dubai will be an accurate reflection of Dubai's dynamic economic development. The growth rates are immense and opportunities are enormous.

What do you think the two chambers can learn from each other?
The Dubai Chamber of Commerce and Industry is one of the most prestigious chambers in the world. It is a competent partner not only for Dubai-based firms, but also for foreign companies maintaining business relations in Dubai or intending to invest there.

The Dubai Chamber plays a dominant role in arbitration matters. Its arbitration facilities, especially the Dubai International Arbitration Centre, are best practice model for the HCC as well. Both chambers have a lot of experiences to share. It is thus in our mutual interest to develop our relation into a mature strategic partnership.