Dubai Chamber, Baku to expand trade ties 

(MENAFN - Khaleej Times) The Dubai Chamber of Commerce and Industry's International Representative Office in Azerbaijan recently organised a roundtable discussion on "Expanding Trade between Dubai and Azerbaijan" at the JW Marriott Absheron in Baku.

The roundtable was attended by Hassan Al Hashemi, director, External Relations, Dubai Chamber, Sanan Nasibli, head of Dubai Chamber Representative Office in Azerbaijan, leading Azerbaijani importers and exporters, and representatives of logistics companies, Dubai franchisees, the UAE Embassy, the Ministry of Economic Development of Azerbaijan, and the Azerbaijan Export and Investment Promotion Agency (AzPromo).

In his welcome address, Al Hashemi reiterated Dubai's solid position as a world-class trade hub for the CIS, GCC, and Africa. He also stressed the importance of Azerbaijan as a strategic location for trade and business and expressed gratitude to the Ministry of Economic Development and AzPromo for partnership and support.

Al Hashemi also shed light on Dubai Chamber's plans to expand its international presence with 15-20 offices until 2016 in the CIS, Africa, and Asia noting that Africa and the CIS are very promising markets and Dubai continues to be an excellent hub for cross-continent trade to these regions.

He took the opportunity to highlight the ease of doing business the emirate of Dubai offers to foreign investors via its unconditional government support, business-friendly laws, world-class infrastructural and financial services and a high return business environment.

On his part, Rufat Mammadov, Acting President of AzPromo, informed that Azerbaijan has gone through a period of significant development and growth with overall trade up nine times and the non-oil trade up five times in the last 10 years.

He also stressed that Azerbaijan's trade with the UAE is based on imports from the emirates. Apart from hydrocarbons and related products, AzPromo would like to see agricultural products and food stuffs exported to the UAE and other MENA markets.

Representative of leading local retail and commercial real estate companies expressed strong confidence in the growing local consumer market and noted the need and potential of bringing more Dubai management and franchise experience to Azerbaijan.