Arab Trade and Export Finance Forum Explores Prospects for Greater Regional Integration
The ‘Arab Trade and Export Finance Conference,’ hosted in Dubai by Dubai Exports - the export promotion agency of the Department of Economic Development (DED)– in partnership with the Arab Federation for Industrial Exports Development (AFIED), has emphasised the importance of financing small and medium enterprises (SMEs) and facilitating their access to international markets.
The conference, attended by 130 delegates representing Arab, regional and international businesses, think-tanks and financial institutions, discussed global trade, the role of finance in export development, risk mitigation and export cost mechanisms. Delegates also evaluated opportunities and challenges in the region and neighbouring markets as well as projects aimed at supporting manufacturers and exporters.
Dubai Exports hosted the conference as part of its strategy to enhance communication and knowledge transfer within the export sector as well as develop the export mechanism in the Arab countries to improve overall trade exchange between the UAE and the Arab as well as international markets.
The conference was addressed by Ambassador Abdel Moneim Mohammed Mahmoud, Secretary General of AFIED, Mohammed Ali al Kamali, Deputy CEO of Dubai Exports, and Eng. Galal Abdel Fattah, Chairman of the EIPAL Group in Egypt and President of AFIED.
"The conference reviewed the role played by financial institutions and their export financing programmes in promoting Arab industrial exports, success factors in supporting and developing small and medium enterprises, as well as risk mitigation mechanisms and cost in the export credit guarantee market," said Ambassador Mahmoud.
“We have to achieve regional economic integration and increase intra-Arab trade by facilitating export procedures to help SMEs in growing and boosting their exports,” Ambassador Mahmoud added.
The conference also discussed the current pattern and trends in international trade, global trade policies and geopolitical developments, highlighting the importance of free trade and intra-Arab trade. The impact of greater intra-Arab trade on future global trade especially in relation to rules of origin and exchange rate fluctuations was also highlighted by the speakers.
"We are delighted to be part of this event for the second year in a row, bringing together leading decision-makers and industry professionals,” commented Al Kamali. “We aim to build a meaningful dialogue that enriches our strategy and policy as well as support foreign trade in Dubai and the UAE.”
The outcomes of the conference will be beneficial to UAE companies in creating regional partnerships and successfully competing in international markets, Al Kamali added. “There exists vast trade and export opportunities in the Arab region that can be well exploited. The Arab Trade and Export Finance Conference can highlight such opportunities from time to time.”
The conference also discussed global best practices in trade and export facilitation, automation of trade procedures to facilitate intra-Arab trade and proposed areas of trade co-operation among Arab countries.
Dubai Trade is the premier trade facilitation entity that offers integrated electronic services from various trade and logistics service providers in Dubai under a single window. It underlines Dubai's position as the ideal base for trading across borders with its unique geographical location, excellent infrastructure and seamless processes across the private sector and government agencies.
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