Dubai chamber stresses fraternal & economic relations with Syria

05 Jun '07

3 min read

"Dubai Chamber acts according to a clear strategy and effective vision that aims at being a main and indispensable source of economic information for the business community. Dubai Chamber is quite keen to develop the activities of businessmen and enhance their competitiveness through setting up 19 business groups that represent various economic sectors, 33 business councils that represent Dubai-based companies according to their nationalities, and more than 75 trade centers," said Al Shamsi.

He pointed out that Dubai's direct non-oil trade with Syria reached AED 560 million in 2006, adding that the visit of the Syrian delegation along with the cooperation between the Chamber and the Syrian Business Council which was established in Dubai in 2003 would help increase the bilateral trade volumes.

Al Shamsi said the economic forums held between the two countries in the past few years helped introducing the UAE business community to lots of investment opportunities available in Syria, especially in the property and construction sectors. This prompted the Dubai-based Emaar Properties to set up the $ 500 million worth "Eighth Gate Development" joint venture in Damascus.

Emaar has also signed a Memorandum of Understanding with Syria to establish another $ 3.4 billion project of "Damascus Hills" which is a complex of residential apartments, trading offices and shopping centers.

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Dubai Chambers of Commerce & Industry

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