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The Australia Arab Chamber of Commerce and Industry (AACCI), New South Wales Chapter, and New South Wales (NSW) Government, Australia, hosted a roundtable with key business leaders in Dubai. The aim was to further expand the existing strong trade and investment ties with the UAE.
The roundtable follows the recent success of Woolworths Australia partnering with Al Maya Group and participation of more than 50 NSW companies in major trade exhibitions in the UAE covering healthcare, defence and food. Kamal Vachani, Group Director, Al Maya Group, said, ‘We are pleased to partner with Australia’s leading supermarket chain and bring quality food products to the UAE’.
Mohamed Hage, Chairman NSW, Treasurer and Board Member, AACCI, said ‘The Australian economy remains resilient, sustained by sound macroeconomic policies, strong institutions and solid trade ties. The UAE is important for NSW businesses. Australia is the only major developed economy to have recorded no economic recessions from 1992 to 2017 and is now in its 27th year of consecutive growth.’
Moin Anwar, Commissioner (Middle East), NSW Government, explained that NSW remains the engine room of Australia’s economy, with a gross state product of AUD 576 billion (bigger than Hong Kong and Singapore) and AAA credit rating. The NSW infrastructure program continues to grow with a record AUD 87 billion provided in the 2018–19 budget over the next 4 years for critical infrastructure in key service delivery areas (includes transport. healthcare, education, etc.). Opportunities exist for UAE businesses for direct investment as well as participation in design, construction, management and operation of infrastructure projects.
Plans are also underway to develop a new Aerotropolis in Sydney. With the new Western Sydney Airport at the core, the Aerotropolis precincts will offer a diversity of jobs across aerospace and defence, agribusiness, health, education, tourism and other sectors. The Airport will be curfew-free and operating 24 hours. Approximately 5 million passengers will pass through when it opens in 2026.
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