Roadshow aims to boost trade between State, Dubai

By Our Special Correspondent

HYDERABAD, SEPT. 26. The Dubai Roadshow 2001, held here on Wednesday, focussed on the immense opportunities to boost direct trade and business between Andhra Pradesh and the second largest nation of the seven emirates that make up the United Arab Emirates (UAE).

The roadshow was jointly organised by the Department of Tourism and Commerce Marketing (DTCM) of the Government of Dubai and the Confederation of Indian Industry (CII) which have entered into a memorandum of understanding (MoU) as a precursor for the joint efforts in this direction. The MoU was signed at Delhi on September 24.

A trade delegation led by Mr.Ibrahim Ahli, Manager Overseas Promotions of the DTCM, Dubai Government, is in the city to interact with the CII representatives and other business and industry groups besides officials on the possibilities of stepping up the trade and industrial ventures.

Members of the trade delegation explained the investment and trade potential and the facilities available in Dubai to an elite gathering of business magnates as part of the Roadshow.

In his inaugural address, Mr.D.V.Manohar, Chairman of the AP chapter of CII, said the introduction of direct flights between Hyderabad and the UAE opened up opportunities for boosting trade. The 13 flights between the two destinations, operated every week, were going full, contrary to the apprehensions only a few months ago. The MoU between the CII and the DTCM would facilitate exchange of visits of trade delegations and a CII team would soon visit Dubai. Information technology, biotechnology and tourism were the areas of focus for Andhra Pradesh, he added.

Mr.Ibrahim Ahli, in his address explained how Dubai had emerged as a leading regional trading hub, offering a large market of more than $18 billion in domestic imports and gateway to $150 billion per annum. Dubai's imports had more than doubled since 1989. The accessible open market in Dubai has no exchange controls, quotas or trade barriers. It is served by more than 125 shipping lines and 90 airlines.

As part of the special free-zone investment incentives, 100 per cent foreign ownership and control is allowed in Dubai's free zones--Jebel Ali Free Zone, Airport Free Zone, Dubai Internet City and Media City.

Mr. Ahli further pointed out that Dubai offered foreign companies a wide choice of business options. Direct trade with established dealers and distributors was possible. For setting up a branch and representative office, 100 per cent foreign ownership was permitted. For the limited liability company, foreign ownership is restricted to 49 per cent.

There were presentations on Dubai Airport Free Zone, Dubai Cargo Village, Dubai Chamber of Commerce and Industry, Dubai investments, Ports, Customers and Free Zone Corporation, internet city and media city.

Mr. Carl Vaz, Country Manager, DTCM, India Office, welcoming the gathering, said the non-oil sector currently accounted for more than 90 per cent of the total gross domestic product of Dubai. The contribution of the oil sector, which was crucial to Dubai's development since the late 1960s, was thus limited to ten per cent of the GDP.

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