Ministry of Economy gears up to host 10th UAE Industry and Commerce Forum in Iraq

DUBAI: The Ministry of Economy is set to host the 10th U.A.E. Industry and Commerce Forum in Erbil, Iraq, in collaboration with the Department of Economic Development of Abu Dhabi and Dubai, as well as the U.A.E. Consulate in Erbil, and the Kurdish Chamber of Commerce in Iraq.

The forum on the 10th of June is expected to draw the participation of public and private sector entities in the U.A.E. and Iraq. Abdullah Al Saleh, Under-Secretary for Foreign Trade Affairs at the Ministry of Economy, will lead the U.A.E. delegation to the forum.

Ahead of the event, a spokesperson for the U.A.E. Ministry of Economy said that the event seeks to strengthen bilateral ties between the U.A.E. and Iraq, particularly in the Kurdistan region. Currently, 112 Emirati firms have investments in the Kurdistan region and the number is expected to rise with the growing number of opportunities available in the region.

Abdullah Al Saleh said, “Organising this forum is part of our strategic purpose to build on the U.A.E. s existing synergy with Iraq. We are sparing no effort in facilitating U.A.E. companies to expand their investment and export portfolios in Iraq. Erbil is a gateway to the Iraqi market and the 10th U.A.E. Industry and Commerce Forum will serve as an ideal platform for Emirati businesses to showcase their products and services while exploring potential investments.” Iraq is a major trade partner for the U.A.E. and ranks 12th among countries importing from the U.A.E..

The two countries, whose bilateral trade in 2012 stood at over US$13 billion, have inked a free trade agreement. All U.A.E. airlines have active flight routes to Iraq with 20 flights per week to Erbil alone. With a population of approximately 1.3 million, Erbil is the fourth largest city in Iraq after Baghdad, Basra and Mosul.

SOURCE: WAM