DCCI inks trade pact with Malta

DUBAI - Dubai Chamber of Commerce and Industry has recently signed a trade and economic cooperation agreement with the Maltese External Trade Corporation (METCO) to increase trade exchange and exports between the two countries.

By A Staff Reporter

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Published: Thu 22 May 2003, 12:34 PM

Last updated: Wed 1 Apr 2015, 9:19 PM

METCO has recently set up a trade centre office in Dubai headed by Anthony Tabone, director of the METCO Dubai office, and as a result of this Dubai Chamber of Commerce and Industry Director General, Abdul Rahman Al Mutaiwee, paid a visit to Malta to discuss closer relationships for the benefit of business in both Dubai and Malta.

In a speech to more than 100 leading Maltese business people Al Mutaiwee said: In the last two decades, Dubai has witnessed some substantial growth in terms of Gross Domestic Product and the volume of exports and re-exports to position itself in the front line of the business in the Middle East

"The agreement we signed with Malta will help both countries' traders to create ventures and exchange benefits now and in the future. The trade agreement ensures the need to exchange trade information and increase trade between the two countries and encourage traders to participate in trade exhibitions and conferences. Exchange visits between UAE and Maltese trade officials is an essential part of the agreement which we shall encourage in the future.

"There are many similarities between Dubai and Malta regarding the business environment. Malta is the gateway to Europe while Dubai represents the trade gate to North Africa and the Gulf region markets.

"Dubai has implemented the latest economic and trade practices and has developed the infrastructure and business environment for local and foreign investors. Dubai is looking forward to strengthen its ties with all industrial and commercial nations around the globe."

He added: "With a properly placed financial and banking systems, Dubai is planning to attract foreign investment in the coming decade.

"Sound economic planning and diversification of resources have helped Dubai and the UAE in general to overcome the global economic downturn that has hit most of the countries around the world. Dubai in a very short period of time has become the most important and unique hub in the Middle East and has an active markets with huge investment opportunities."

Stephen Sultana, general manager of METCO, said that now that Malta had signed up as a full member of the European Union its position as a hub for Middle East Trade would be enhanced. Its strong trading position, like Dubai's, combined with its greater access to a European market of more than 350 million people, meant it could be an even more important trade centre for business with Dubai.

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