UAE, Turkey accelerating trade cooperation

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UAE, Turkey accelerating trade cooperation DUBAI, 21st March, 2022 – The UAE Federation of the Chambers of Commerce and Industry (FCCI) received a trade delegation representing Turkey’s Independent Industrialists and Businessmen Association (MÜSİAD ) at Expo 2020 Dubai in the presence of Hamid Muhammad bin Salem, FCCI Secretary-General, and a number of business owners. During the meeting, the two sides discussed ways to enhance trade ties between FCCI and MÜSİAD, and the prospects of growing cooperation over the coming period. FCCI Secretary-General said the privileged relations between the UA… Continue reading “UAE, Turkey accelerating trade cooperation”

Mohammed bin Rashid meets Grand Duke of Luxembourg, President of Estonia at Expo 2020 Dubai

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Mohammed bin Rashid meets Grand Duke of Luxembourg, President of Estonia at Expo 2020 Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, today met with His Royal Highness Grand Duke Henri of Luxembourg, who is currently visiting the UAE to attend his country’s national day celebrations at Expo 2020 Dubai. H.H. Sheikh Mohammed and Grand Duke Henri of Luxembourg explored new avenues to enhance bilateral relations and discussed potential partnerships to advance the mutual interests of the two countries The meeting, which took place at the … Continue reading “Mohammed bin Rashid meets Grand Duke of Luxembourg, President of Estonia at Expo 2020 Dubai”

Dubai Islamic Bank donates AED3 million to Khalifa bin Zayed Al Nahyan Foundation

ABU DHABI, The Dubai Islamic Bank has donated AED3 million to the Khalifa bin Zayed Al Nahyan Foundation, to support the national healthcare services provided by the foundation in 2022.

Mohammed Haji Al Khouri, Director-General of the Foundation, lauded the bank’s humanitarian activities and its pioneering social responsibility efforts, as well as its support and sponsorship for the foundation’s humanitarian programmes for the 15th consecutive year.

This support is being provided by the bank as part of the cooperation, coordination and social partnership between various national sectors, he added.

The Dubai Islamic Bank has been among the key supporters of the foundation’s initiatives since the start of the COVID-19 pandemic in March 2020. It has donated AED1.2 million to support the national efforts to address the pandemic, including supporting the educational sector with 3,000 laptops, to enable students to take part in the online learning system.

Source: Emirates News Agency

Dubai Customs organizes quarterly DCCC meeting 2022

In its first quarterly meeting in 2022, Dubai Customs Consultative Council (DCCC) highly applauded Dubai’s exceptional hosting of EXPO 2020 Dubai.

H.E. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation highlighted the great efforts exerted in organizing this global grand event, including Dubai Customs’, which helped with the clearance of the fair’s goods that are worth around AED1 billion. The total number of visits to the world’s fair since it opened on October 1 had reached 19 million.

In the presence of Dubai’s business groups, members of the DCCC, Musabih said government services are becoming more efficient and integrated with the launch of “Services 360” vision by the Crown Prince of Dubai and Chairman of the Executive Council of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Discussions and presentations in the meeting covered Dubai Customs’ performance in 2021. Around 99.6% of customs transactions are completed through smart channels, which helped increase the number of transactions to 24 million in 2021, growing 50% from 16 million in 2020.

“This is getting the emirate closer to achieve its milestone of reaching AED 2 trillion in trade in the coming years. Trade is growing and indicators are positive. This reflects the significance of partnership between the public and private sectors in enhancing sustainable economic and trade development,” said Musabih.

Abdulrahman Haidar, Head of World Logistics Passport talked about the World Logistics Passport, which Dubai launched globally at the World Economic Forum in Davos in 2020 following the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The leading initiative aims at facilitating global trade and helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent economies from trading as freely as they might.

Salim Abdeen, Head of e-commerce at DP World, delivered a presentation on Dubuy.com; DP World’s first e-commerce project. The platform adds digital trading corridors to the physical corridors DP World has built across the African continent with its investment in ports, terminals and logistics operations. The platform enables global companies to find and serve new trading partners in Africa, opening up access to fast growing markets.

On his part, Malik Hanouf, CEO of Brand Owners’ Protection Group talked about the new Federal Trademarks Law, No. 36 of 2021, which came into effect on 2 January 2022 and replaced the previous trademark law (Federal Law No. 37 of 1992). Brand owners will now be able to benefit from increasingly more cost-effective and easier means to protect, commercialize and enforce their trademark rights in the UAE.

Ertan Yetisener of Fruits and Vegetables Traders Group delivered a presentation on the fruits and vegetables sector locally and globally. He said the sector is developing fast to keep abreast with the national, regional and international economic trade, with certain factors determining that growth, namely the growth of population and the increase in consumption rates, and the growth of tourism.

There are 2,495 companies operating in the fruits and vegetables sector in Dubai. Retail food trade accounted for $55 billion in 2019, and it is expected to reach $75 billion in 2025, growing 5.3%.

Yetisener said the UAE ranked 21st on the Global Food Index in 2019 achieving a 10-place leap, moving from 31st rank in 2018, with ambitions of becoming among the top 10 countries in the future.

At the end of the meeting, Edris Behzad, Director of Client Happiness Department reaffirmed the significance of effective communication with the clients. The DCCC is the first of its kind among customs organizations.

“Dubai Customs ranked second on Dubai Government’s Customer Happiness Index scoring 91.8%, and the DCCC is an important communication channel serving as a link between the Government Department and its partners and clients,” said Behzad.

Source: Dubai Customs

Hamdan bin Mohammed meets with Japan’s Minister for the World Expo 2025

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Hamdan bin Mohammed meets with Japan’s Minister for the World Expo 2025 DUBAI, 19th March, 2022 – H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, today met with Wakamiya Kenji, Japan’s Minister for the World Expo 2025, at the Japanese pavilion at Expo 2020 Dubai. The Japanese minister shared with H.H. his country’s preparations to host the next edition of the World Expo, which is scheduled to take place from 13 April to 13 October 2025, in Yumeshima Island in Osaka, Japan. The upcoming Expo 2025 will be the third time Osaka will be hosting the global event after t… Continue reading “Hamdan bin Mohammed meets with Japan’s Minister for the World Expo 2025”

Arbitration Best-suited Resolution Mechanism for Globalized World: Chief Justice of India

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Hon’ble Chief Justice of India (CJI), Mr N. V. Ramana today said that the globalized world demands embracing a dispute redressal mechanism that is acceptable and fair to everyone. Shri Ramana was speaking at the International Conference on ‘Arbitration in the Era of Globalization (4th Edition) organised by the Indian Council of Arbitration (ICA). “Fairness demands a platform where both parties get an equal say in the resolution of their dispute. This is where International Arbitration comes into play. Arbitration is the best suited dispute resolution mechanism for the globalized world,”added M… Continue reading “Arbitration Best-suited Resolution Mechanism for Globalized World: Chief Justice of India”