H.E. Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, recently received a high level Saudi delegation headed by H.E. Mazen M. Baterjee, Vice Chairman, Jeddah Chamber of Commerce and Industry in the presence of H.E. Hamad Buamim, Director General, and Mr. Atiq Juma Nasib, Senior Director, Commercial Services Sector, Dubai Chamber.
The Saudi delegation’s visit came on the heels of their earlier successful meeting held at Dubai Chamber last month and to follow up on the preliminary agreements they had from Dubai companies about hiring of labour for the planned projects in the Western region of Saudi Arabia as well as to enhance cooperation between the two chambers and to promote Dubai investments in Jeddah.
Welcoming the delegation to Dubai, H.E. Al Ghurair said that this is the ideal time for both the chambers to discuss investment opportunities in promising markets like Turkey and Kurdistan as both the sides are looking for supporting the expansion of business growth and investments in their respective countries.
The Chairman of Dubai Chamber also discussed the Customs obstacles faced by Dubai businesses while exporting goods to Saudi Arabia as the visiting delegates expressed their willingness to offer assistance in this area.
H.E. Al Ghurair informed that this latest visit will help further enhance cooperation between Dubai and Saudi Arabia as Dubai Chamber is committed to extend all cooperation and work jointly with other GCC chambers for the enhancement of trade in the region.
The Chairman of Dubai Chamber further stressed that this follow-up visit indicates that the relationship between the two chambers is getting stronger by the day and will lead to an advanced stage of exchanging of personal experiences about the market trends in both the countries.
H.E. Al Ghurair reaffirmed the commitment of Dubai Chamber to provide all the cooperation and support to the Jeddah Chamber in regards to facilitating an easy access to Dubai businesses, the emirate’s best practices and economic initiatives which he said will help develop a stronger bilateral tie between Dubai and Jeddah.
He also highlighted Dubai Chamber’s strategic partnership and fruitful cooperation with the Jeddah Chamber while lauding the contribution of Saudi businessmen for their investments and contribution to the economic growth of Dubai.
On his part, H.E. Baterjee thanked Dubai Chamber for the support and facilities provided to Jeddah Chamber by facilitating meetings with Dubai companies specialising in the recruitment of labour as he said that the Saudi side has made giant strides in the process of negotiations in this field.
The Vice Chairman of Jeddah Chamber also called upon Dubai businesses to invest in Saudi Arabia’s western region in the areas of construction, infrastructure, manufacturing and tourism which are the most lucrative investment areas at the moment. H.E. Baterjee also informed that his Chamber was planning to organize a business forum in Dubai soon to highlight the investment opportunities available in Saudi Arabia.
He also stated that this visit will go a long way in establishing close relations with Dubai Chamber as the two sides have common objectives which he said is the ingredient of a successful business partnership.
He invited Dubai businesses to attend the Jeddah International Economic Forum, which will be held from March 2 to 4 in the Saudi Port City and will offer a fitting platform for businesses to reach out to their Saudi counterparts.
Exports and re-exports of Dubai Chamber members to Saudi Arabia grew by 17% and valued at AED 59.3 billion in 2011 compared to the year 2010 which are clear signs of a strong trade partnership between Dubai and Saudi Arabia.
Earlier, Dubai Chamber has received delegations from Saudi Arabia’s Al-Ahsa Chamber of Commerce and Industry and Saudi Federation of Chambers of Commerce and has also participated in the International Bar Association (IBA) Annual Conference road shows held in Jeddah and Riyadh to raise awareness about the prestigious legal forum held last October in Dubai.