Day: March 2, 2024

BANGKOK: Thailand welcomed nearly six million foreign visitors between 1st January and 25th February, Minister of Tourism and Sports Sudawan Wangsuphakijkosol has said.

The Vietnam News Agency (VNA) quoted the minister as saying that those visitors have generated revenue of around THB290.92 billion (US$8.07 billion) for Southeast Asian countries.

In the first eight weeks of this year, China was the top source market for foreign tourists to Thailand with 1,114,316 arrivals, followed by Malaysia (759,828), Russia (397,006), the Republic of Korea (387,475), and India (293,129).

The Ministry of Tourism and Sports expects foreign arrivals to surge thanks to the permanent visa waiver deal for Thai and Chinese citizens (which comes into force on 1st March), and the increasing number of flights to Thailand to be offered by several airlines.

The ministry has set a revenue target for 2024 of THB3.5 trillion, including THB2.3 trillion from 40 million foreign arrivals. Domestic tourists will contribute THB1.2 trillio
n from around 200-220 million person-trips.

Source: Emirates News Agency

SHARJAH: Sharjah Airport Authority (SAA) is all set to participate in the ITB Berlin 2024, a global platform that brings together exhibitors, business leaders, and experts from the tourism and travel sector. The Authority will unveil the latest developments, services, and amenities offered by Sharjah Airport, highlighting its commitment to transforming airport experiences through the expansion of its technology infrastructure and comprehensive digital transformation.

Under the umbrella of Sharjah Commerce and Tourism Development Authority, the SAA’s participation is part of its ongoing efforts to enhance Sharjah’s position as a thriving tourist and economic destination by establishing connections with leading international companies and expanding the network of destinations at Sharjah Airport. Through its participation at the event, SAA seeks to enhance its global presence and foster connections with the global leaders of the tourism and travel sector.

Ali Salim Al Midfa, Chairman of Sharjah Airport Autho
rity, said: ‘During our participation at ITB Berlin 2024, we are committed to reviewing the Airport’s expansion plans, services, and facilities offered to customers. The exhibition has gained an increasing global significance, attracting a larger number of participants from 165 countries worldwide this year.’

Al Midfa added, ‘This premier trade exhibition offers us a platform to showcase Sharjah Airport’s recent accomplishments over the past year, which played a crucial role in enhancing the Airport’s capacity to meet the increasing travel needs at Sharjah Airport. During the event, we will also highlight the improvements made in the infrastructure of digital services and the amenities offered to passengers.’

This year, Sharjah Airport Travel Agency (SATA) – a one-stop-shop for airline reservations, customised holiday packages, cruises, hotel reservations and global visa services, and one of the UAE’s fastest-growing travel agencies – will participate at ITB Berlin. The agency aims to strengthen its communi
cation channels with international companies and explore new prospects of collaboration through its participation at the global exhibition.

SAA’s annual participation in the ITB Berlin is an integral part of its international agenda. This year, its participation holds special significance due to the commencement of the passenger terminal expansion project. Additionally, Sharjah Airport has achieved its highest performance to date, having welcomed over 15.3 million passengers in 2023.

Source: Emirates News Agency

DUBAI: In a bid to strengthen trade and economic ties between China and the UAE, Canton Fair (China Import and Export Fair), one of the world’s leading international trade events, kicked off its promotional conference for its 135th edition in Dubai with trade representatives and dignitaries from around 80 organisations, including Emirates Airlines, as well as representatives of buyers and businessmen.

Zhang Sihong, Deputy Secretary-General of Canton Fair, confirmed that the next edition of the fair, scheduled to take place on 15th April 2024, will see an expansion of exhibition space to 1.55 million square metres. The expansion aims to provide a richer and more comprehensive experience for visitors and exhibitors, with more than 28,000 exhibitors expected to participate, providing an exceptional opportunity for international buyers to enhance sourcing and business collaboration.

Marwan Al Marri, Regional Director of Dubai Chamber in Asia, expressed his delight at welcoming Chinese companies and underlined t
he role of Dubai Chamber as a key driver of economic growth in the city and its commitment to achieving the objectives of the Dubai Economic Agenda (D33) to boost foreign trade.

Founded in the spring of 1957, the Canton Fair is held twice a year in Guangzhou, China, and is one of the most important international trade events due to its long history, diverse exhibits and wide participation of traders and buyers from around the world. As an ideal platform for showcasing the latest products and innovations and fostering international trade relations, the fair is an important gathering point for the global trade and industry sectors.

Source: Emirates News Agency

DUBAI: Emirates General Petroleum Corporation (Emarat) has launched the first of its kind project in the UAE and globally, under the name ‘Project Landmark’. Through ‘Project Landmark’, companies and brands will have an unprecedented opportunity to secure naming rights for Emarat’s service stations, which are strategically located in Dubai and the Northern Emirates. It will also allow them to integrate their business models within these service stations, driving customer happiness and satisfaction to new heights.

Project Landmark, which was launched at an official ceremony held at the Museum of the Future in Dubai, represents a strategic milestone among fuel station companies in the UAE and the world by introducing a new model for strategic partnerships between Emarat and its partners. This is based on Emarat’s approach to providing value-added services to customers and enhancing their experiences.

Project Landmark will go beyond providing sponsorship opportunities to Emarat’s partners towards solidifying i
ts presence as a comprehensive platform contributing to enhancing business models and elevating services provided to customers. As such, Emarat stations will become a new landmark that enriches customers’ experience and takes it to new heights.

Project Landmark expands the presence of both local and international brands and is in line with Emarat’s strategic efforts to accelerate and support the UAE’s advancement towards the future. The project provides an innovative business platform for companies to reach customers and deliver valuable services that meet the high standards of excellence set by the UAE.

Eng. Ali Khalifa Al Shamsi, Director General of Emarat, said: ‘We are proud to launch this strategic project, which positions Emarat as a pioneer in adopting an innovative customer-centric model based on scientific research and feasibility studies. This project underscores our commitment to serving the UAE and elevating the presence of its business community.’

‘Project Landmark goes beyond being just a com
mercial venture as it represents a strategic ecosystem that establishes a unique partnership model where customers are prioritized and recognized as key contributors to our success, as well as important economic and investment players that boost the attractiveness of Dubai and the UAE. The project places Emarat at the forefront of oil and gas companies in the UAE and the wider region’, Al Shamsi added.

‘Since its inception more than four decades ago, Emarat has been committed to achieving our wise leadership’s vision and priorities by focusing on enhancing its operations and elevating its brand, which has a long heritage built through strong partnerships. In doing so, we maintain our focus on delivering exceptional services in our network while ensuring the highest levels of quality for customers’, Al Shamsi concluded.

‘Project Landmark’ will empower partners to elevate their presence through long-term investment opportunities, delivering services and leveraging spaces and assets that offer them with exclus
ive opportunities to reach service stations’ users in an unprecedented approach. This is in addition to leveraging the strategic locations of the service stations and its facilities to provide services to their customers according to the highest standards’.

Source: Emirates News Agency

VIENNA: The OPEC Fund for International Development (the OPEC Fund) is co-financing Colombia’s “Climate Action Policy and Energy Transition Programme” with a US$150 million policy-based loan. The programme aims to foster economic opportunities based on the sustainable use of natural resources, develop circular economy models and promote the energy transition.

OPEC Fund Director-General Abdulhamid Alkhalifa said, ‘We are pleased to support Colombia’s climate action and promote sustainable and resilient growth. With our loan, the country will be able to adopt measures that reduce the vulnerability to climate change and boost economic performance. This aligns with the OPEC Fund’s Climate Action Plan targets.’

The OPEC Fund is co-financing the project with the Inter-American Development Bank (IDB), the Development Bank of Latin America (CAF), Germany’s KFW Development Bank, the Agence française de développement (AFD) and the Central American Bank for Economic Integration (CABEI).

The OPEC Fund’s policy-based l
ending contributes to countries’ financing needs by providing fast-disbursing resources conditional on policy and institutional reforms that help strengthen the economic framework and the creation of conditions for sustainable and inclusive growth. The loans support a reform agenda and the implementation of policies agreed between co-financiers and the government.

Colombia’s programme focuses on three components: to strengthen implementation capacity to manage climate action; to foster economic opportunities based on the sustainable use of natural resources and the development of circular economy models; and to promote the energy transition. Policy actions include, among others the conservation and protection of biodiversity, consolidation of green businesses, promotion of climate-smart agriculture and diversification of the country’s energy mix.

The OPEC Fund’s Climate Action Plan, launched in 2022, commits 40 percent of all new financing to climate-related investments by 2030. The programme is being succe
ssfully implemented across the OPEC Fund’s entire investment portfolio.

Source: Emirates News Agency

BEIJING: Over the past five years, China has witnessed significant progress in the export of used cars, showcasing practices that could be emulated nationwide. This surge in exports has contributed to the stabilisation and growth of foreign trade, as well as the enhancement of domestic automobile consumption.

Since the inception of a pilot programme in 2019 that was aimed at exporting second-hand automobiles, the number of vehicles exported from China witnessed a remarkable surge of over 350 percent in 2022, reaching 69,000 units, a substantial increase from approximately 15,000 units in the preceding year, as reported by People’s Daily Online.

A substantial portion of these exports consists of new energy vehicles (NEVs), with Tianjin Municipality, located in North China, being one of the pioneering cities for such exports. Enterprises within Tianjin’s Dongjiang bonded zone have successfully exported a variety of vehicles, including engineering and commercial vehicles, alongside traditional and new energy p
assenger cars. Currently, NEVs constitute over 70% of the zone’s total used car exports.

The market for China’s used cars has expanded globally, reaching more than 140 countries and regions, as highlighted at the 2023 annual conference of China’s automotive distribution industry. The primary destinations include five Central Asian countries, several African nations, and parts of Southeast Asia. Additionally, Russia has emerged as a key market since 2022.

The Russian market has shown consistent growth, with the European market also gaining momentum amid an energy crisis, leading to a significant increase in exports to both Western and Eastern Europe.

Efforts have been made to streamline export procedures and enhance the used car export industrial framework, signaling the untapped potential within this sector. With 435 million motor vehicles reported on China’s roads in 2023, the need for new markets is evident due to the vast vehicle population and the rapid turnover of cars.

Policy support has played a cr
itical role in the expansion of used car exports. In July 2023, measures to boost automobile consumption were introduced, including incentives for exporting used cars that meet specific quality standards. Subsequent guidelines and support measures were announced, culminating in a notice issued on February 7, 2024, to expand used car export operations nationwide.

This strategic move aligns with the trends of market upgrading and replacement within the domestic auto industry, aiming to satisfy international demand for used cars, particularly in countries involved in the Belt and Road Initiative. However, as the sector is still developing, there’s a call to learn from the successes of nations like Japan and South Korea. Adapting their strategies to China’s unique market conditions and international regulations could foster more effective business models and enhance the global reputation of Chinese used cars.

Source: Emirates News Agency