HE Eng Hamad Buamim, Director General, Dubai Chamber of Commerce & Industry, received in his office Mr Olivier Claudon, General Manager and Noury Boualem, International Department Manager, Limoges Chamber of Commerce & Industry from France who were in town to discuss arrangements for the visit of a high-profile French business delegation to Dubai by the year’s end.
The main purpose of the visit is to study Dubai’s business model of development as the high ranking delegation is too keen to know more about the fastest growing city in the world, its emerging economy, trade practices including the means of attracting Foreign Direct Investments, setting up and operations of the free zones, booming real estate and the Government-private sector cooperation vis-à-vis the incentives and protection offered to the investors and businessmen, exemption of taxes and repatriation of profits and income.
Said Buamim, “We feel honoured and privileged that the Limoges Chamber has decided to study Dubai’s model of development. We look forward to receive the delegation and extend all possible help in their endevour. The arrival of the French delegation will further boost the trade ties between the two sides and also open up new areas of cooperation for us.”
The Limoges Chamber of Commerce & Industry based in Haute-Vienne region of France is a public administrative establishment run by the state. It is directed by an assembly of business directors who are elected by their peers, governed by the Law of 9th April, 1898. The Chamber is supervised by both the Ministry for Industry and the Ministry of SME's, Trade and Craft Industry.
The Chamber’s mission is to represent the general interests of trade and industry in the Haute-Vienne department, comprising of 9,460 commercial, industrial and services companies employing 62,500 people. The Chamber also offers advice and support, assistance and information besides and equipment management training to all its members.
Presently, there are 299 French companies working in Dubai and registered with Dubai Chamber as the emirate’s non-oil trade with France (including Free Zones) reached AED 11,178,451,517 in 2007, its imports touched AED 10,722,725,919 while export and re-export figures ran into AED 455,725,598. France was ranked No. 17 in a list of Dubai’s trade partners in 2007. A total of 519 Certificates of Origin were issued by Dubai Chamber in 2007 for goods exported to France with a total cost of AED 89,026,304. Dubai hosts a French Business Council, a French Commercial Commission and already has a representative office of Limoges Chambers of Commerce & Industry. Dubai Chamber has also signed a Protocol of Cooperation with the French Riviera Chamber of Commerce & Industry in 1999.
The top five items of Dubai’s imports from France in 2006 included Chemicals and allied industries; Machinery, electrical & electronic equipment; Vehicles, aircrafts, vessels, transport equipment, Prepared foodstuff and precious and semi-precious stones and metals.
The top five items of Dubai’s exports & re-exports to France in 2006 included Machinery, electrical and electronics equipment; Textiles; Optical, medical, measuring & musical instruments; Chemicals and allied industries and Precious & semi-precious stones and metals.
