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200 Spanish Companies to Make Foray in United Arab Emirates

This was stated by Manuel Valle, Economic & Commercial Counsellor of Spain here during an exclusive interview with Khaleej Times. Valle is also responsible to facilitate Spanish firm in Qatar. Spain has three commercial offices in GCC including Riyadh.

Last year Spain recorded 36 per cent growth in exports to the UAE as value of exports by Spanish companies reached $1.616 billion while imports recorded at $346 million in 2008, informed Valle and added: “This year we are also confident to achieve good growth.” Leading export sectors during 2008 were industrial technology, habitat, fashion, ancillary mechanical & construction industry and chemical industry products.

Around 1,000 Spanish companies are actively involved in business with the UAE, said Valle and added: Around 100 firms have office in the UAE, 25 through franchise business, 400 through trade mission and other 400 participate in trade fairs in Dubai and Abu Dhabi. He said realising the potential of GCC markets a lot of Spanish companies are paying attention to the UAE.

“We are very strong in desalination and water treatment in the world and soon you will see Spanish firms running the same plants in the UAE,” said Valle. Recently Dubai Chamber and Madrid Chamber of Commerce and Industry signed a memorandum of understanding. The agreement will consolidate economic relations between the two nations and sets framework for cooperation. According to the data provided by Dubai Chamber, a total of 174 Certificates of Origin were issued by Dubai Chamber for Spain with a total of Dh30 million from January 1 to August 21, 2008.

Spain was ranked 34 in a list of Dubai’s direct trade with other countries in 2007. Dubai’s non-oil trade with Spain (including Free Zone) reached Dh3 million in 2007.

Value of exports of Spanish Members by Destination, 2006 & 2007 increased from Dh38 million in 2006 to Dh51 million in 2007 with 35.9 per cent growth.

abdulbasit@khaleejtimes.com