Mission économique
The Chamber of Commerce has the pleasure to announce that an official mission will visit the United Arab Emirates and Qatar from the 20th to the 24th of November 2011. The mission will be organized in close cooperation with the Ministry of the Economy and Foreign Trade and with “Luxembourg for Business”. The delegation will be led by H.R.H. the Hereditary Grand Duke of Luxembourg and H.E. Mr Jeannot Krecké, Minister of the Economy and Foreign Trade.
The mission will start in Abu Dhabi, where the Luxembourg embassy will celebrate its opening on the evening of November 20. The mission will then continue its program in Dubai where it will run alongside the Big 5 Show. The final destination will be Qatar. Economic workshops will be organized along the themes of construction and biotech. The participating companies will have the opportunity to take part in matchmaking meetings with local companies in all three locations, in a number of networking receptions, and in visits of the local Chambers of Commerce.
After being hit badly by falling oil and real estate prices during the financial crisis, the United Arab Emirates (UAE) are now experiencing a substantial construction boom, with $350 billion worth of active projects, including billions in real estate, tourism and leisure infrastructure, an expanding manufacturing base and a thriving services sector.
UAE’s large hydrocarbon wealth gives it one of the highest GDP per capita in the world and Abu Dhabi owns the majority of these resources which makes it the wealthiest of the seven regions of the UAE. Due to favorable market and environmental conditions, it has become one of the world's primary business and commercial points. Recently the government has been diversifying the economic plans, which is evident in the emphasis on industrial diversification as well as in the promotion of the tourism and real estate sectors.
Dubai is one of the world’s largest business hubs whose trading jurisdiction amounts upward of US $80 billion. It is a major area of today's global trade and commerce. Located at the crossroads of Europe, Asia and Africa, it has continued being a strong financial centre of the Middle East. Although Dubai's economy was built on the back of the oil industry revenues from oil and natural gas currently account for less than 6% of the emirate's revenues
With Qatar’s economy expected to grow by 16% in 2012 to a value of £135bn, the state is set to embark on an enormous investment program to build the infrastructure needed for the 2022 FIFA World Cup. Qatar plans to spend over $125bn in the next five years on construction and energy projects.
For further information about this upcoming trade mission, feel free to contact:
Chamber of Commerce Luxembourg
International Department
Diana Rutledge
T: (+352) 42 39 39-335
E-mail: international@cc.lu