For the second consecutive year, National Bank of Dubai (NBD) will be participating at the 2002 UAE Trade Exhibition in Iran which will be held from June 10-13. The event is organized by the Dubai Chamber of Commerce and Industry, Dubai Ports and Customs and Freezone Corporation and Department of Tourism and Commerce Marketing.
“National Bank of Dubai has always maintained a strong banking relationship with the Islamic Republic of Iran. Our participation in this exhibition demonstrates our commitment to forging even stronger ties with Iran, particularly in light of recent political and economic developments, which have accelerated the process of opening up the market to foreign participation…” said General Manager of NBD, Douglas Dowie.
“Last year's inaugural event was extremely successful, attracting more than 50 national companies and industries, represented by over 200 exhibitors. Furthermore, over 18,000 visitors attended the four-day exhibition with business contracts worth a total of 473 million Emirati dirhams ($128 million) being signed. This year we expect a substantially greater attendance,” added Dowie
The United Arab Emirates (UAE) and the Islamic Republic of Iran have, for over a decade, upheld progressive business and commercial relations. The UAE Trade Exhibition in Iran is expected to have a significant impact in the growth of trade and flow of investment. It has already created a solid platform for businessmen in both countries to work together and explore the vast business opportunities that exist in commercial, industrial and service sectors.
In March of this year NBD announced that they had received official approval from the Central Bank of the Islamic Republic of Iran to establish a representative office in Tehran. The office is set to build on its strong correspondent banking relationships and will use its presence there to develop and respond to growing opportunities in the project and trade finance sectors and Institutional Financing. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
