(MENAFN- Khaleej Times) Al mansouri calls for cohesion to compete int?l businesses
sultan bin saeed al mansouri shaikh abdullah bin salem bin sultan al qasimi and shaikha bodour bint sultan al qasimi at the opening of the 15th gcc joint exhibition and businessmen forum at expo centre sharjah on monday. — wam
gulf countries must come together now so their companies can compete with global conglomerates.
the rallying call was made by minister of economy sultan bin saeed al mansouri in his opening speech at the 15th gcc joint exhibition and businessmen forum at expo centre sharjah on monday.
“this is a crucial mandate that needs urgent action for gcc companies to compete with global conglomerates that are seeking to meet their own interests. this economic need has made it imperative for the gcc members states to come together to win over the obstacles [standing in the way of] cohesion” al mansouri said.
earlier deputy ruler of sharjah shaikh abdullah bin salem bin sultan al qasimi and the minister of economy jointly opened the event. it is being held after a gap of seven years.
the ceremony was held in the presence of abdullah bin mohammed al owais chairman sharjah chamber of commerce and industry; saif mohammed al midfa ceo expo centre sharjah; officials from the ministries chambers of commerce and industry associations of gcc countries; and dignitaries and guests.
saif zone sets up investor platform
staff report
sharjah — the sharjah international airport free zone authority (saif zone) on monday organised the first investors meet to create a platform for investors to network and share ideas with the aim of developing business environment and improving practices for the benefit of both the investor and customer.
the b2b investor forum was held under the patronage of shaikh khalid bin abdullah bin sultan al qasimi chairman of sharjah free zones authority. a large number of investors from across the country attended the forum.
shaikh khalid pointed out that the investor meet 2014 is one of the premier economic events initiated by saif zone. he said that the first edition of the investor meet will be the cornerstone of the consecutive editions which will build on its outcomes calling on investors to make their comments and suggestions for the upcoming editions.
in a keynote address about challenges in the investment sector rashid al leem chairman of sharjah electricity and water authority (sewa) highlighted saif zone’s major role in removing impediments facing investors.
“the saif zone has contributed significantly to removing obstacles that face local and international investors by providing the necessary facilities to its customers to become now one of the major economic hubs in the arab world as it brings together thousands of investors under its umbrella” al leem said.
— muzaffarrizvi?khaleejtimes.com
the five-day event which is being held for the first time in sharjah in its three-decade history is promoted jointly by all gcc member states with a view to catalysing trade within the region.
trade between gulf countries recorded a growth of 5.5 per cent during 2013 climbing from $88 billion to $93 billion in 2012.
the minister said he expected growth to keep rising particularly after a successful financial and economic cooperation committee meeting for the gcc in kuwait. all member states agreed to activate a gcc customs union.
“this event emphasises the vital role of gulf businessmen in the economic growth of the gcc countries. the private sector including investors manufacturers and traders play a key role in the promotion of gcc economic integration especially with its contribution to the gdp of the six countries registering a steady and significant increase” he said.
“we reaffirm our commitment to promoting cooperation between the gcc countries to achieve the desired social and economic integration that supports the interests of the gcc countries and their people.” the 15th gcc joint exhibition features more than 200 exhibitors from across the gulf region including 70 participants from the uae. the uae participation under the umbrella of the ministry of economy includes federal entities as well as leading private sector establishments.
expo centre sharjah chief executive officer saif mohammed al midfa said greater economic integration would give gcc states an upper hand in negotiating trade agreements with other regions. the upcoming integrated railway network was also an important catalyst to boost the region’s agenda he said.
“with mega events such as the world expo 2020 and the fifa world cup 2022 lined up to be held in the region the importance of events like this increases manifold in view of the tremendous boost it can provide to trade exchange within the gcc states.
“gcc countries have emphasised the need for achieving economic integration with the gulf common market and the customs union regarded as key goals in this regard. this will help streamline the flow of goods labor capital and services within the region.”
apart from supporting small and medium enterprises the show focuses on encouraging innovation showcasing investment opportunities promoting services industries and products of gcc countries and enhancing trade within the region.
the opening day of the event featured a conference on “deepening economic integration among gulf countries”. the segment examined the private sector’s perspective on economic cooperation among the gcc countries and its views on economic integration.
— abdulbasit?khaleejtimes.com
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