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Dubai, Hamburg Consolidate Trade Ties

DUBAI — German companies in Dubai significantly increased by 30 per cent after the first round of Dubai-Hamburg Business Forum.

It was informed by Eng Hamad Buamim, Director General of the Dubai Chamber at the second session of the Dubai-Hamburg Business Forum, held in Hamburg, Germany, on Thursday.

Buamim said after the first round of the Forum, 130 new companies were set up taking the overall total of German firms to 578 in the emirate.

“The success of the first business forum can be gauged from the high number of German companies that started operating from Dubai after the maiden forum plus the opening of the Hamburg Tourist Office, which is promoting Hamburg as an international business and tourist hub, are good enough to prove that the trading ties between the two sides are growing at an excellent pace.”

Hisham Abdullah Al Shirawi, Second Vice Chairman of the Dubai Chamber, who led the Dubai delegation said, “The large Dubai delegation’s presence here is proof of the will and desire of the emirate’s business community to consolidate trading ties with Hamburg and to take the strategic partnership further by working towards our common goal of economic growth.”

Shirawi agreed that the world is witnessing an economic recession, however, Dubai Chamber sees this as an opportunity and not a threat. In the current scenario one looks at different economic sectors with a positive outlook based on exploring opportunities the Dubai way.

Shirawi spoke about the importance of joint projects in the sectors that were represented at the Forum and included Banking and Finance, Healthcare and Life Sciences, Logistics and Foreign Trade, Energy, Media & IT.

Earlier, in his inaugural speech, Frank Horch welcomed the 230 participants including the 60-member delegation from Dubai and highlighted the identical features the two sides share by being trading hubs, logistics and distribution centers and of course as gateways to the world besides sharing histories of thriving on international trade, shipping and maritime industries.

Horch said, “We cannot deny that Hamburg and Dubai will feel the effects of the current worldwide recession as we strongly depend on international trade therefore it’s time now to re-think our strategies and priorities. Without any doubt, the topic of sustainability will become more and more important.”

· abdulbasit@khaleejtimes.com