UAE Ministry of Foreign Trade
The UAE Ministry of Foreign Trade (MOFT) is organizing trade missions for Emirate companies to international expos in Indonesia and China from October 18 to 26, 2011 in a bid to nurture Asian trade and further the growth of local businesses in the UAE.
The trip comprises business delegation visits to two consecutive trade expos that will take place in Jakarta, Indonesia and Guangzhou, China. The 26th Trade Expo Indonesia is a five-day trade event that showcases a vast range of products from consumer industries and receives thousands of visitors from over 100 countries every year. Last year alone it generated transactions of over USD 350 million, affirming Indonesia’s capability as a leading supplier of competitive consumer products.
The mission will then attend the second phase of the 110th Canton Fair (China Import and Export Fair) in Guangzhou. Billed as the largest and longest trade fair in the country, the Canton Fair has grown year upon year and expects visitors from more than 200 countries. The fair features a huge display of consumer goods, gifts and home décor from China’s largest corporations and merchants.
Representatives from the Khalifa Fund for Enterprise Development will join the mission to show support for the country’s small and medium enterprises (SMEs).
Mohammed Nasser Hamdan Al Zaabi, MOFT’s Director of Trade Promotion, conducted a pre-departure meeting for the mission’s official delegates at the Grand Hyatt Hotel Dubai yesterday (Wednesday, October 12, 2011) to disseminate the details and importance of the upcoming Asian tour.
“This mission is intended to help SMEs in the UAE grow their businesses and compete on an international scale. They are excellent opportunities for CEOs and business leaders to learn about new products and services, source competitively, and establish strong international relationships. The Ministry is determined to help SMEs fare favourably in the global arena, and to provide assistance to accelerate their growth,” said Al Zaabi.
The trade mission to Asia forms part of MoFT’s strategy of opening up the UAE globally to both new and established growth markets, and also highlights the importance placed on the role of SMEs and entrepreneurship in the UAE’s economy. National companies joining the trip will benefit from subsidized travel costs. Business students are also being encouraged to take part in the mission as part of their education and career preparation.
The Indonesian and Chinese markets are viewed as important sources for new products and services. The delegates of the trade mission will gain insights into the business climates and economies of China and Indonesia, and will be able to explore opportunities to import or export products with these two countries.
The trip also provides a rare chance for business leaders to network with other entrepreneurs from Asia as well as the rest of the world. Both Jakarta and Guangzhou are known as business and leisure hubs; Jakarta is one of the most developed tourism-driven cities in Southeast Asia while Guangzhou is recognized as a global production centre.