DUBAI, 4 September 2007 -- Sheikha Lubna Al-Qassimi, the UAE Minister of Economy, is one of the five women in the Middle East considered by the US-based business magazine Forbes to be among the world's 100 most powerful women.

The first female government minister in the country's history, long ago broke through the glass ceiling as CEO of Tejari.com, a rapidly expanding regional e-commerce exchange headquartered in Dubai. A popular speaker on women's issue, Islam and Internet commerce, Lubna has spent the past few years growing her business while simultaneously building bridges between East and West. Warm, witty and at ease with Western business practices, Lubna's management style is hands-on and down to earth.

The Forbes article credited Lubna with creating more transparency and corporate governance in the UAE, and recognized her effective negotiation skills and intensive trade relations program that sees her travel to four countries each month to promote the UAE.

Lubna is scheduled to visit Italy this month where she will be the first Arab woman to be awarded the "Stella Re" prize by the Italian Foundation, Sandretto Re Baudengo. The prize is awarded to only one woman every year who strives to make a difference to contemporary society and culture through her innovative work, dedication and ideas.

Securing first place on the Forbes list, which is graded according to a composite of visibility and measured by press citations and economic impact, is Angela Merkel -- German's first woman Chancellor, followed by China's vice premier, Wu Yi, in second place. Other women from the Arab World to be ranked in the top 100 are Maha Al-Ghunaim, chairman and managing director of Global Investment House, Kuwait; Sheikha Mozah Bint Nasser Al-Missned, First Lady, Qatar; Queen Rania, Queen of Jordan; and Vidya Chhabria, chairman of Jumbo Group, UAE.

Since becoming Economic Minister in 2004, Lubna has been responsible for overseeing major economic growth within the UAE, and promoting increased diversification of the country's economy. According to estimates from the Central Bank of the UAE, tremendous growth in the last couple of years has boosted the per capita GDP to an all time high of $28,147 in 2005, compared with $24,380 in 2004.

The GDP is estimated to have grown by 14 percent in 2006 to reach AED553.4 billion, while in real terms the economy is estimated to achieve 9.7 percent growth rate during 2006 and 2007.

By K.T. Abdurabb

© Arab News 2007