A delegation from the Communications and Media Centre of the President of the Republic of Kazakhstan has visited the Dubai Economic Council (DEC) premises recently.
The delegation was headed by Mr. Papacomarov, Director of the General Central Communication Authority of the Republic of Kazakhstan, and consisted of officials from several high ranking institutions.
During the meeting, both parties discussed areas of cooperation and partnership between the Kazakh communications center and the DEC Secretariat General.
On the sidelines of the meeting with the Kazakh delegation, Hani Al Hamli, DEC Secretary-General, said the economic relations between the UAE and the Republic of Kazakhstan have witnessed rapid developments during the past years. He explained that both countries have enjoyed a cooperative relationship which now needs to develop into a "Partnership" level.
Al Hamli pointed out that both the UAE and the Republic of Kazakhstan have benefited from diplomatic relations spanning two decades since its establishment. During these years both countries had worked on strengthening their economic ties to include various sectors particularly commerce and investment.
Dr. Abdelrazaq Al Faris, DEC Chief Economic Counselor, gave an overview of the mandates, strategic objectives of the Council and its most important activities undertaken over the last few years.
He pointed out that the Council is one of the initiatives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which plays a vital role in engaging the business community in Dubai in the economic-decision making. It also proposes policies and initiatives to the Government Dubai in various economic issues of strategic importance to Dubai and the UAE.
Mr. Tariq Al Hajiri, Director of Legal Policy, Legal Affairs and Research Center (LARC) at the DEC Secretariat General, commented about the legal status and the tasks entrusted to the center. Al Hajiri said that the vision of the Center is to provide a legal and legislative framework for economic policies aimed at enhancing sustainable economic development of the Emirate of Dubai.
Media Advisor at DEC, Dr. Sulaiman Al Hattlan, introduced the media profile of the DEC Secretariat General, he also pointed out the importance of the publication of studies and Economic Policy Research carried out by the Council in order to raise awareness among relevant authorities.
The delegation representatives praised the strong relations between both countries including bilateral trade and expressed their keenness to discuss areas of collaboration with the council. In particular they discussed the councils' expertise in its research capabilities which included its analytical monitoring experiences and methodologies. Mr. Papacomarov mentioned that his country government's high regards to Dubai/ UAE as it positioned itself as a regional financial and business hub in record time. He also highlighted the recent economic developments witnessed by the Republic of Kazakhstan.
The two countries have engaged in several agreements, particularly in the sectors of banking, commerce, industry and transport. Several delegations have been sent to each other's country - including a number of official visits successfully forging agreements on cooperation and development. The total trade volume between Dubai and Kazakhstan especially in terms of re-exports has seen steady growth over the past years. It increased from Dhs386 million in 2002 to peak in 2007 to Dhs2.6 billion. Despite the decline in world trade since 2009, trade between both the two economies still witnessed growth. It has jumped from Dhs1.5 billion in 2010 to Dhs2.5 billion in 2011, marking an increase of 67%.
Similarly, the non-oil trade between the UAE and Kazakhstan increased from Dhs393 million in 2002 to Dhs2.5 billion in 2007. In 2011, the trade volume between the two countries reached Dhs1.2 billion.