UAE-Belarus Business Forum discusses enhancing investment

DUBAI, 26th February, 2015 (WAM) — As part of its efforts to encourage growth of bilateral investment and business potential between the business communities of Belarus and the UAE, the Dubai Chamber of Commerce and Industry organised the UAE-Belarus Business Forum on Tuesday at the Crowne Plaza Hotel in Minsk.

The strategic business forum, organised in partnership with the Ministry of Economy of the Republic of Belarus, UAE Ministry of Economy and Belarus National Agency of Investment and Privatisation, was held on the side lines of the official UAE Ministry of Economy delegation visit headed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, to the East European country.

Also attending with the Minister were Mohammed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary of UAE Ministry of Economy, Vladimir Zinovsky, Minister of Economy, Alexander Yaroshenko, Deputy Minister of Economy, Republic of Belarus, and over 40 Belarus and UAE Ministry of Economy officials and senior private sector representatives. The forum explored joint investment opportunities and areas of bilateral growth between the two trading partners.

Held in two sessions, the forum included presentations on the UAE Economy at a Glance by Al Mansouri, who highlighted the economic indicators and competitive business environment prevailing in the country while stressing that the visit aims to develop a road map for achieving positive results in raising the volume of trade five-fold through the next 10 years between the two countries.

He said, “The UAE’s unique investment environment and its strategic location are important attractions for foreign direct investments to the country. Its sustainable development achieved through legislative and regulatory frameworks and the provision of highly developed infrastructural and financial facilities further enhance the country’s status as a regional and global destination for investments.

“Also, the UAE’s world-class free zones with their industrial and commercial sections provide specialised integrated services and convenient logistical support extended by the country’s much aanced air and seaports which offer an easy gateway to huge consumer markets of nearly two billion consumers in the region.” Al Mansouri added, “We are not only seeking investments but also expertise, talent and projects that help transfer knowledge and know how for us to achieve the UAE Vision 2021 which emphasises building a diversified and knowledge-based economy led by qualified Emirati people as well as the UAE Innovation strategy which will stimulate innovation in seven sectors including renewable energy, transport, education, health, technology, water and space while enhancing quality of life and taking our economy to new horizons.” The Minister of Economy further stressed that the UAE is keen on cooperation with various global partners in promoting innovation in the areas identified by the UAE Innovation strategy. He called upon Belarusian businessmen and investors to attend specialised forums, conferences, exhibitions and meetings like the Annual Investment Meeting organised by the UAE Ministry of Economy .

In his welcome address, Vladimir Zinovsky, Belarusian Minister of Economy, expressed his country’s interest in enhancing economic cooperation with the UAE especially after the creation of the Eurasian Economic Union effective January 1st, 2015 with Armenia, Belarus, Kazakhstan and the Russian Federation, as he said that his country is ready to provide its UAE partners with the opportunity to share the benefits of the Eurasian “window of opportunity”.

Commenting on the organisation of the UAE-Belarus Business Forum, Hamad Buamim, President and CEO, Dubai Chamber, stated that the Chamber is directly supportingits members to make their presence felt in the world’s most competitive markets, adding that the Belarusian market is an ideal destination for investments for UAE companies in key economic sectors of food and agriculture.