Abdul Rahman Ghanim Al Mutaiwee, Director General of the Dubai Chamber of Commerce and Industry (DCCI), addressing the UAE-Germany Economic Partnership Forum being held in Essen, Dusseldorf, outlined the fast changing business environment in Dubai and the development process which the emirate has witnessed in different fields over the past five years.

He said Dubai's total imports last year reached to Euro 26 billion, 72 per cent of these imports are re-exported to 160 countries all over the world.

Germany's exports to Dubai which surged to Euro 1.7 billion in 2004, which covered six per cent of the emirate's demands, as Germany ranks the fourth position in the list of the tops countries from which Dubai imports. Germany is also considered one of the biggest commercial partners of Dubai.

Al Mutaiwee pointed out that Dubai has ranked a remarkable regional and international position thanks to its trade. It became the third international centre in the field of re-export business after Hong Kong and Singapore, and currently handles 73 per cent of the UAE's total foreign trade.

Al Mutaiwee outlined Dubai's strategic plan, which aims at achieving a complete dependence on non-oil revenues, hoping that oil would represent not more than 1 per cent of the total UAE's national revenue by the year 2010.

"All incentives for investments in Dubai have helped the emirate to be a centre that attracts German companies whose number reached to 418 small and medium-sized companies that deal with manufacturing, trade, banking, tourism, consultation and services with a total investment that reached to Euro 1.7 billion last year," he pointed out.

Highlighting the reasons behind the success of Dubai, he said along with its services facilities and infrastructure, the DCCI and other government departments in Dubai have participated in different German and international exhibitions and forums, in addition to organising other media campaigns and coverage of other newspapers and TV stations from all over the world.

"A total of 1.4 million people live in Dubai which scored Euro 20 billion in 2004 as GDP," he added.

Highlighting the investment incentives in Dubai, he stressed the important benefits Germans could gain in Dubai and in the UAE in general.

"The UAE is an open country that imposes no taxes on businesses, ensures economic and legal legislations that provide investors with security and protection such as the copy right law, in addition to the strategic location of the UAE and the organisation of 77 international exhibitions and hosting a large number of conferences and international forums," Al Mutaiwee said.

He pointed out that Germany has four trade offices in the UAE and a business council, which operate under the umbrella of DCCI, in addition to another trade office at the German Consulate in Dubai.

Mahmoud Saleh, Secretary General of the Ports and Customs Establishment in Dubai, conducted a presentation in which he talked about the general economic position in the UAE and in the region.

He gave an overview on the emirate's success in attracting more foreign investments in the fields of information technology, construction, water desalination and other technologies which require no workforce. He also talked about the aspects of the free zone which includes 8 specialized sectors and the one-stop licenses issue facilitation, tax exemption and the development of the seaport.

Saleh also spoke about the investment in Nakheel projects and other coastal investments which would add more than 70 kilometers to Dubai beaches. These projects cost around Dh25 billion, while the other Dubai Water Front projects would be a very extendable addition to the emirate's beaches.  "Dubai has already an investment portfolio which includes 20 companies of different types of business such as transportation, logistics and other financial investments," said Saleh.

He informed the German companies that Dubai welcomes the operating companies which would be a useful addition to what is already exists. "We have a strong infrastructure and the port's fast growing business helps investors and companies facilitating their job."

"There is no bureaucratic system in the UAE and the seaport extends its services to more than 1.5 billion people," he added.

Saleh said that Dubai is expected to achieve an unanticipated rate of growth which could reach to 9 per cent, in addition to another 16.5 per cent increase in the GDP of the emirate this year.