Dubai Chamber to promote Lanka's business interests

The Dubai Chamber of Commerce and Industry, Al Ghurair assured all help for Lanka's business interests in Dubai and highlighted the role of Dubai as a major re-export destination for Sri Lankan goods to the region in view of the emirate offering strong infrastructure facilities to all re-exporters.

He said when he received the President of the Federation of the Chambers of Commerce and Industry of Sri Lanka (FCCISL) Kosala Wickramanayake, during his visit to the Dubai on Sunday.

The Dubai Chamber Chairman said that Sri Lanka is ranked No. 55 in the list of Dubai's trade partners in 2007. Dubai's non-oil trade with Sri Lanka (including Free Zone) reached AED 1.4 billion in 2007 and there is much more scope for the business community from both sides to take their trading ties to greater heights in view of Dubai's open door policy of economic growth extended to all nationalities and business people over the world.

The two sides also discussed the basis of signing a Strategic Partnership Agreement in the near future as the FCCISL President highlighted the investment opportunities available in the infrastructure sector as well as the traditional tea market of which Dubai is a big re-exporter.

He said that the real estate market in his country was still holding strong. There are 183 Sri Lankan partnership companies working and registered with the Dubai Chamber of Commerce, two of which are 100% owned by Sri Lankan businessmen. There is a Sri Lankan Business Council in Dubai (established in 1992) and the Ceylon Tea Promotion Office, a Sri Lankan Government representative office in Dubai. The top five items of Dubai's imports from Sri Lanka in 2007 included Vegetable Products; Textiles and Textile Articles; Plastics, Rubber products; Machinery, Electrical and Electronics Equipment and Wood, Wood Charcoal, Cork, Straw and Basketware.

The top five items of Dubai's exports and re-exports to Sri Lanka in 2007 included Machinery, Electrical and Electronics Equipment; Base Metals and Products, Chemical or Allied Industries; Miscellaneous Manufactured Articles, Plastics and Rubber Products.

Wickramanayake told the Dubai Chamber that people-to-people relations between Sri Lanka and UAE were very strong, as a large number of Sri Lankans worked in the UAE. He invited the Chamber officials and its members to visit Sri Lanka Hamad Buamim, Director General, Dubai Chamber, Nizar Sardast Advisor Dubai Chamber and Sam Stembo, Special Projects Director, FCCISL were also present. The two sides also exchanged mementoes solidifying their long-term trade ties.