21 July 2015
•The establishment of Oman Business Council takes the total number of Councils operating under the Chamber to 46

•Nasib: This new Council will help UAE and Oman business communities to establish stronger trade ties while contributing to the economic development of Dubai

•Daud:The Oman Business Council's objective is to enhance the role of Omani companies in developing trade and economy in the region while providing support and consultation to individual businesses and companies

Dubai - The Dubai Chamber of Commerce and Industry'sannouncement of the establishment of the Oman Business Council for Dubai and Northern Emiratesis seen as a positive step to boost economic cooperation and enhancement of trade and commerce between the business communities of Dubai and Oman.

With the establishment of this new Council, the total number of business councils operating under the umbrella of Dubai Chamber has reached 46 asthe Oman Business Council in Dubai and Northern Emirates has 18 members from a wide sector of economic activities including investments, trading in petroleum and petrochemical products, engineering, construction, real estate developing, retail, F&B, Industry, general trading, IT and banking services.

AtiqJumaNasib, Senior Vice President, Commercial Services Sector, Dubai Chamber, welcomed the formation of the new council which he said is a positive step in enhancing bilateral relations between the two countries, especially as this is the first Council from the GCC region which enjoys special trading ties with Dubai.

He reiterated Dubai Chamber's commitment to providing all possible help and facilities to private sector companies in their endeavour to grow and contribute to creatinga lucrative business environment in the emirate.

Nasib further stressed that the various business councils and groups directly support the trade sector, which is one of the leading drivers of the emirate's economic engine as they also contribute to promoting the competitiveness of Dubai's business community in the global business arena.

"This new Council will help business communities of the UAE and Oman to establish stronger trade ties while contributing to the economic development of Dubaiaspresently there are 362Omani ownership and partnership companies operating in the emiratewhile the country occupies 17th rank on the list of the Dubai's trading partners," Nasibsaid.

He further added that the value of Dubai's non-oil trade with Oman rose from AED19.1 billion in 2013 to AED 21.7 billion in 2014, and the establishment of the Oman Business Council will help take thebilateral relations between the UAE to a higher level in the long run.

On his part, Nabil Daud, Chairman, Oman Business Council, lauded Dubai Chamber's efforts in helping the establishment of the Council. "This is a continuation of the Chamber's effective role in supporting the private sector and representatives of business councils while creating a fertile ground for businessmen and investors in Dubai and the Northern Emirates," he said.

Daud further stressed that the Oman Business Council'sobjective is to enhance the role ofOmani companies in developing trade and economy in the region while providing support and consultation to individual businesses and companies as well as facilitating smooth exchange of experiences amongst important commercial sectors.

Currently, there are 46 country-specific Business Councils and 27 sector-oriented Business Groups totalling 73 operating under the umbrella of Dubai Chamber which reflects on the diversity of the emirate's business environment.

Dubai Chamber is providing a number of facilities to all thebusiness councils and groups by inviting them to participate in various events and meetings to strengthen trade relations. The Chamber also serves as a conduit between the public and private sectors represented by these councils and groups as it presents their recommendations and proposals to various government entities.

-Ends-

About Dubai Chamber of Commerce & Industry
Established in 1965, Dubai Chamber of Commerce & Industry is celebrating its milestone anniversary of 50 years empowering vision in Dubai's business community. A non-profit public entity, Dubai Chamber supports Dubai's vision as a global player by empowering businesses, providing innovative value added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

For more information visit:www.dubaichamber.com

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For more information, please contact:
Ruba Abdel Halim
Dubai Chamber of Commerce & Industry
PR &Corporate Communications Department
Tel: +971 4 2028450
Email: ruba.halim@hotmail.com

© Press Release 2015