Ajman and Australia seek to enhance economic cooperation

Business Bureau, Gulf Today

The Ajman Chamber of Commerce and Industry (ACCI) received a high-level Australian economic delegation to beef up the cooperation between the two sides and to explore the investment opportunities available in various fields in order to increase future trade exchange between them.

Salem Al Suwaidi, Director General, received the delegation in presence of Jameela Kajour, Director of Franchise Development and Marawan Hareb, Director of Business Promotion and Investment Development. The delegation was led was by Roland Jabbour, President and National Chairman of Australia-Arab Chamber of Commerce and Industry (AACCI), while comprised a number of members and businessmen in Australia. During the meeting, Salem Al Suwaidi stressed importance of the visit and its role in enhancing cooperation and partnership between the businessmen of the two parties. He further pointed to the need to increase visits and direct meetings, as well as the participation in joint exhibitions organised by the two parties.

He introduced the delegation to the important economic components of Ajman and the investment opportunities available. He also highlighted the most important sectors in the emirate such as education and health sectors, as well as the opportunities offered by the tourism industry and other sectors.

Meanwhile, the Australian delegation introduced the attendees to the most important projects and investment opportunities in Australia, notably education, health, tourism, real estate, food, technology, mining, livestock and other sectors. They also invited Ajman Chamber and businessmen to visit Australia to explore closely the investment opportunities available.

Marwan Hareb briefed the delegation on emirate of Ajman in terms of area and geographical location, the diversification of economic sectors in the emirate and the leadership’s support to the business community. The emirate ranked 35th in the Ease Business Index, while the number of trade licenses exceeded 40,000 in 2017 compared with 23,802 in 2013 growing by 68 per cent. The main sectors contributing to the emirate’s GDP are the industrial sector, which contributes by 33 per cent, followed by the construction sector with 14 per cent, the real estate sector with 12 per cent and the trade sector with 12 per cent. He added that the number of factories in the emirate reached 982 factories during 2018, compared with 819 factories during 2014.

The delegation visited Ajman Free Zone, where they were briefed about its efforts in providing an attractive investment environment distinguished by quality, speed, flexibility, as well as providing the requirements for success and sustainability of the enterprises.

The visit witnessed a bilateral meeting between the businessmen from Ajman and Australia, where they discussed the opportunities of partnerships and cooperation between the two sides, and the most important areas for cooperation and exchange of experiences.

During the visit, they exchanged souvenirs and shields, stressing the need to increase future partnerships to help increase economic growth between the two parties.

Earlier, in the first of this month, Abdullah Al Muwaiji, Chairman of the Ajman Chamber of Commerce and Industry (ACCI) received Mohammed Iqbal Hussain, Consul General of the People’s Republic of Bangladesh.