In coordination with Gulf Organization for Industrial Consulting
Dubai, 5 June 2012: Dubai Exports, the export promotion agency of the Department of Economic Development (DED), in coordination with the Gulf Organisation for Industrial Consulting (GOIC), Qatar, held a 'Dubai Matchmaking Day' over two consecutive days, concluding 222 bilateral meetings between various large Gulf and UAE companies, including manufacturers and suppliers.
Deals worth AED117 million for projects with an estimated total value of AED365 million were discussed in the meetings. The matchmaking was aimed to promote cooperation between main GCC contractors and their potential subcontractors in the UAE, GCC and the rest of the world across various industry sectors.
Mohammed Al Kamali, Director of Export Market Development at Dubai Exports, said: "Dubai Exports concluded Dubai Matchmaking with a series of records as 86 per cent of participants expressed full satisfaction in the event and more than 74 per cent praised the way in which it was organised. The meetings resulted in a variety of suggestions and mechanisms to strengthen the role of UAE and Gulf companies in the industrial sector and boost exports among GCC countries through contracts between suppliers and manufacturers of raw materials."
"The Industrial Subcontracting and Partnership Exchange (SPX), promoted by GOIC, strengthens the capacity of small and medium industries (SMI) to encourage import substitution and exports of manufactured goods. SPX has been specifically designed to boost technical information systems and networking potential to facilitate links between small, medium and large manufacturing firms," added Al Kamali.
The objective of SPX is to reinforce the capacity of local industries to increase their production, upgrade their technological processes and products and to improve their international competitiveness. SPX contributes to finding new investment opportunities through connecting different industries, which will result in value addition and increase in export opportunities, thus keeping pace with international industrial development.
"SPX and Dubai Exports have been working as partners since 2008, providing support to small and medium enterprises and helping industrial sector to upgrade capabilities and activate its economic role. The cooperation brought together major manufacturers in the region and raw material suppliers from the GCC markets and Europe," said Mohammed Khamis AlMukhaini, Director of Industrial Information Department, GOIC.
AlMukhaini noted that the strong presence of suppliers and vendors have a significant impact on the success of such events and in sustaining the role of small and medium enterprises in the industrial sector. He said the next stage will witness the setting up of a group of industrial subcontracting centres in Bahrain, Qatar, Oman, Saudi Arabia and Kuwait to support companies at the GCC level, adding that the year 2013 will see a number of meetings in the region.
Yousef Al Jaber, Director of supplies in Qatar Petrochemical Company, said: "The meeting offered good opportunities for cooperation with emerging companies in the Gulf and worldwide. We are interested in the suppliers who attended the meeting and we look forward to their cooperation in providing the necessary raw materials in our manufacturing processes. We met with more than 20 specialists in the oil and gas sector, and we hope to achieve a set of feasible deals in the coming period."
"We had a number of serious discussions and we expect to accomplish six deals to end monopolies and open new communication channels with small and medium enterprises," said Rashid Al Abdallah, Director of Purchasing at Qatar Fuel Additives Company.
Dubai Aluminium Company, Qatar Electricity and Water Company, Qatar Petroleum, RasGas, Qatar Gas, Bahrain Oil Company, Qatar Aluminium Company, Zakum Development Company (Zadco) and Qatar Steel Company were also among the major GCC manufacturing firms that attended the matchmaking event.
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About Dubai Exports:
The Dubai Export Development Corporation (EDC), now Dubai Exports, an agency of the Dubai Department of Economic Development, Government of Dubai, commenced operations in 2007.
As part of the Economic Development Department of Dubai, its mandate is to facilitate trade from Dubai and establish itself as a world-class export development and promotion body by creating an enabling environment for Dubai's exporters.
Dubai Exports has developed a range of value-added trade support services to UAE based firms exporting through Dubai, for accelerated and profitable expansion of their businesses in foreign markets.
For further information, please contact:
Nafisa El Marzouky
Marketing & Communication division
Department of Economic Development
Tel: (971 4) 3613067
Email: nafisa.elmarzouky@dubaided.gov.ae
© Press Release 2012
