Dubai FDI discusses investment opportunities in vital sectors with Australia

By Staff Report

Published: Mon 20 Jul 2020, 4:51 PM

Last updated: Mon 20 Jul 2020, 6:53 PM

The Dubai Team for Global Promotional Investment Missions recently attended a series of webinars organised by the Dubai Investment Development Agency (Dubai FDI) to explore opportunities in Australia.
The team looked at potential partnerships with Australian companies in the food & agribusiness, healthcare, logistics, and technology sectors in Dubai, particularly following the Covid-19 pandemic.
Organised in partnership with the Australia Arab Chamber of Commerce and Industry (AACCI) and the Australian Business Council Dubai (ABC Dubai), the webinars replace a Dubai FDI mission to Australia that was scheduled for June 2020 but was cancelled due to the outbreak. Dubai Exports, the export promotion agency of Dubai Economy, also attended the webinars.
Abdulla Ali Ateeq Alsaboosi, the UAE ambassador in Australia, said: "We have worked hard to build our country up as a model of peace, stability, tolerance and opportunity and all of these form the foundations for our relationship with Australia. Undoubtedly, one of the most successful aspects of the Australia-UAE relationship is our trade and economic partnership, and during these extraordinarily difficult times of Covid-19 we must work together for the long-term economic recovery and wellbeing of our countries."
"Together, we will continue to have one of the fastest growing bilateral trade relationships in the world promoting growth, jobs and prosperity. We are grateful to the Australia Arab Chamber of Commerce and Industry for supporting these four Dubai Advantage webinars, which have become crucial as travel is difficult and communication essential, and I also thank Dubai FDI, for putting them together," he added.
The UAE is Australia's largest trade partner in the Middle East, with non-oil trade between the two countries reaching Dh14.5 billion in 2019, a 17.4 per cent increase over 2018. The UAE also hosts nearly 25,000 Australians and around 350 Australian businesses engaged in diverse activities, including construction, financial and professional services, tourism, and education.
Fahad Al Gergawi, CEO of Dubai FDI, called on the authorities and the private sector in Australia to capitalise on the existing UAE-Australia engagement and connectivity to channel trade and investment into sectors that hold the highest potential for sustainable growth.
"The past few years saw Dubai rolling out strategic initiatives to attract talent and investments into digital readiness and innovations across services, supply chains, and industries. The pandemic crisis has validated the importance of a digital economy that can connect trade and people across all barriers and ensure food security and advanced healthcare," Al Gergawi said.
"Dubai already has a unique advantage in connecting people and trade as a gateway to a vast market of 2.4 billion consumers living in the Middle East, Africa, the Indian Subcontinent, and CIS. One can easily establish a business in the emirate, nurture innovations, and remain future-ready. Dubai is home to the ninth-largest container port and one of the largest airlines in the world - connecting to over 150 destinations - and an ultra-modern transport and distribution network," said Al Gergawi.

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