Dubai Chamber, Australia to
boost investment potential

DUBAI — Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, highlighted some of the investment opportunities in Australia offers Dubai-based businesses at the Country Focus Briefing: Australia 2011 event on Monday.

By (Staff Report)

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Published: Tue 27 Sep 2011, 10:43 PM

Last updated: Tue 7 Apr 2015, 5:58 AM

Australia’s trade and tourism sectors offer potential for expansion into new markets, including the Far East and China, Al Ghurair said, adding that business success is about exploring opportunities and forming new partnerships.

He was speaking at Dubai Chamber’s 4th annual briefing, which was organised in cooperation with the Australian Embassy and held at its head quarters on Monday. Dubai and Australia already enjoy strong bilateral relations forged over the years, Al Ghurair told delegates. Currently, Australia is Dubai’s 23rd trading partner, while in 2010 Dubai’s non-oil trade with Australia valued Dh8.07 billion, of which imports totalled Dh7.24 billion and exports and re-exports valued Dh842 million. “The most up-to-date data for 2011 was encouraging, showing that Dubai’s non-oil trade with Australia between January and May reached Dh2.85 billion, of which imports valued Dh2.44 billion and exports and re-exports totalled Dh 412 million,” added Al Ghurair.

At the same time, Dubai Chamber’s members exported and re-exported goods worth a total of Dh 85 million to Australia between January and August this year, a figure which Al Ghurair urged Dubai traders to increase by exploring new Australian markets. Currently, Dubai Chamber has a total of 259 Australian companies among its membership, many of which are investors in the emirate’s education and healthcare sectors, like the University of Wollongong in Dubai, which is one of the UAE’s oldest and most prestigious universities. Al Ghurair urged more Australian companies to invest

Al Ghurair stressed that open dialogue is vital to opening up new ventures and highlighted the role Dubai Chamber plays in creating different networking opportunities for the business community.

“Dubai Chamber is here to represent, support and protect the interests of the business community in Dubai and our Country Focus Briefing initiative is an excellent way we bring businessmen together to forge new partnerships,” said Al Ghurair.

“Dubai and Australia enjoy strong bilateral links. Australia helps Dubai address food security issues by being a major source of meat, fish, dairy products, vegetables and tea and coffee for the emirate. Last year alone Australian meat imports valued Dh 502 million,” he said.

“Meanwhile, Dubai’s Emirates airline is a major employer in Australia and has already invested in the country’s most environmentally responsible tourist destination, Wolgan Valley Resort & Spa,” Al Ghurair said.

“Our Country Focus Briefing initiative today helped set out the range of investment opportunities open to Dubai-based businesses, while confirming Dubai’s position as an international business hub, and we look forward to hosting more throughout the rest of this year.” Al Ghurair added.

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