The value of exports and re-exports from members of the Dubai Chamber of Commerce and Industry (DCCI) to Saudi Arabia rose last year by 17 percent from 2010 to AED59.3 billion (around SR60 billion), according to a top official.
These are clear signs of a strong trade partnership between Dubai and Saudi Arabia, said Atiq Juma Nasib, DCCI’s senior director for commercial services sector.
His remarks came as the Dubai Chamber of Commerce and Industry received a delegation from the Kingdom headed by Adnan Mandourah, secretary-general, Jeddah Chamber of Commerce and Industry (JCCI).
The meeting was in line with both the GCC chambers' efforts to seek stronger cooperation and to work jointly on mutual areas of interest.
Nasib received the Jeddah chamber delegation and apprised them with Dubai Chamber's mission and strategic objectives of creating a favorable business environment, supporting the development of business and promoting Dubai as an international business hub, according to a statement received here
He also explained how these objectives are applied through various business stimulating initiatives that help raise competitiveness of Dubai businesses in the global market.
The senior director said the visit would help further enhance cooperation between Dubai and Saudi Arabia as the Dubai Chamber is committed to providing maximum cooperation and work jointly with other GCC chambers for the enhancement of trade in the region.
He emphasized the need to provide all possible help and sharing of expertise between the two chambers as he said that there are many similarities between Dubai and Jeddah chambers.
There is tremendous scope for the two entities to consolidate trade ties and to support each others' business interests in the area, said Nasib.
Emphasizing on the trade growth between Dubai and Saudi Arabia, Nasib said exports and re-exports of Dubai Chamber members to Saudi Arabia grew by 17 percent and valued at AED59.3 billion in 2011 compared to 2010.
These are clear signs of a strong trade partnership between Dubai and Saudi Arabia.
Mandourah said the idea behind the visit is to gain an insight into Dubai's business projects that will open the doors of opportunities for the UAE’s businesses in the Saudi market, especially in the areas of construction, infrastructure and manufacturing while also offering investment prospects for Saudi businesses in Dubai.
Mandourah stressed that his chamber's objective is to develop the Saudi business sector and to adopt some of the successful initiatives that would help support the Saudi business sector.
He invited Dubai businesses to attend the Jeddah International Economic Forum in March and will offer a fitting platform for businesses to reach out to their Saudi counterparts.
He thanked Dubai Chamber for the support and facilities provided to Saudi companies and emphasized that this latest visit will definitely help his chamber to work more closely with Dubai Chamber for the achievement of their common goals in the long run.
Earlier, the Dubai Chamber has received delegations from Saudi Arabia's Al-Ahsa Chamber of Commerce and Industry and Saudi Federation of Chambers of Commerce.
The Dubai delegation also visited Jeddah and Riyadh as part of the road show to promote the International Bar Association (IBA) annual conference held last October in Dubai.