Czech-UAE Business Forum focuses on boosting trade relations

Dubai — As part of its first fruitful outcome from the trade mission to the Czech Republic and Slovakia, the Dubai Chamber of Commerce and Industry announced the establishment of the Czech Business Council, under the umbrella of the Dubai Chamber, which it said will promote joint economic relations between the business communities of Dubai and the Czech Republic.

The establishment of the council is considered an advanced step towards opening the doors to Central and Eastern European markets for Dubai companies’ investments, while allowing Czech firms to unite their voices to achieve their common goals and to set up base in Dubai to reach out to the lucrative regional markets and their large consumer base in the region and beyond.

The announcement came during the opening of the Czech-UAE Business Forum, organised by the Dubai Chamber in cooperation with the Czech Chamber of Commerce, which provided an ideal platform for the UAE delegates to learn more about the most promising sectors in the Czech Republic and to network with business leaders and industry peers. The trade mission, which concludes its visit to the Czech Republic and Slovakia today, has over 20 government officials and business leaders headed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy.

In his keynote address, Al Mansouri said: “The economic relations between the UAE and the Czech Republic evolved significantly in recent years. The Czech Republic is one of the most promising destinations for UAE investments because the country provides a safe and encouraging environment for investment.”

Al Mansouri stressed on the importance of organising such forums which he said contribute to building bridges of communication between the business communities in the two countries as he also highlighted the UAE’s investment climate and its highly advanced logistical facilities and strategic location offering access to over two billion consumers to Czech companies wishing to make a base in the country and enter the Middle East, Southeast Asia and the African markets

Highlighting the importance of organising the trade mission to the Czech Republic and Slovakia in cooperation with the Dubai Chamber, the minister said that there are many opportunities for Czech and UAE companies in the areas of trade, logistics, tourism, banking, agriculture and food industry.

Hamad Buamim, president and chief executive officer of the Dubai Chamber, said: ‘‘We are delighted to be in the Czech Republic. Through this strategic business forum and the trade mission to this one of the most promising markets in Central Europe, we hope to encourage stronger business cooperation and two-way investment across key economic sectors including real estate, tourism, healthcare, infrastructure, industry and health tourism. The Czech market is an ideal destination for UAE investments.”

Buamim pointed out that the establishment of the Czech Business Council is a step in the right direction as this will lead to enhanced trade cooperation between the two countries, adding that the number of business councils operating under the umbrella of the Dubai Chamber has rose to 44, which also reflects on Dubai’s leadership in attracting global companies to operate out of the emirate.

— abdulbasit@khaleejtimes.com