Wifo_5_2008_ Reserve für RAK:WiFo 5-2007_edited.qxd.qxd ...

No. 5 – September / October 2008 

C 46321 

Contents 

Iraq: Iraq’s economy on the rise Prime Minister 

Nouri Al-Maliki visited Germany 1 

Editorial 3 

Personalities 3 

Oil prices: Long-term uptrend still intact 

Rising oil prices: challenging 

4 

governments worldwide 6 

Zollrecht 7 

UAE: Petrochemical products made in UAE 

Pakistan: A good opportunity for German 

7 

business partnership 8 

Iran: Iran’s energy commitments 

Algeria: German Chancellor 

Dr. Angela Merkel visits Algeria to boost 

10 

German-Algerian economic ties 

UAE: Ongoing construction boom in Dubai - 

11 

3,000 towers planned 11 

Iran: Roundtable Iran in Berlin 12 

UAE: Masdar’s investment in Germany 15 

Iraq: Iraq Transportation & Communications 

Technology Summit in Dubai 15 

Iraq: Trips to Iraq 18 

Iraq: Airbiz strikes deal with Iraqi partner 19 

Iraq: Shipments to Iraq 

Iraq: German-Iraqi Investment Promotion 

19 

and Protection Agreement signed 

Iraq: First German delegation to Iraq after 

19 

a long period of uncertainty 20 

Iraq: Erbil - A Gateway for Business in Iraq 

UAE: Etihad increases its fleet with the 

purchase of 100 aircraft from Airbus and 

21 

Boing worth 21bn US$ 

UAE: The Palm Monorail starts test stage 

22 

in October 22 

News & Projects 24 

News in brief 28 

Exchange rates 28 

Young Diplomats at the NUMOV Office 

in Berlin 

NEAR AND MIDDLE EAST ECONOMIC 

29 

HANDBOOK 2008 29 

Business page 30 

Business enquiries 30 

Saudi Arabia: A Hub of Business activity 31 

Services for NUMOV members 31 

NUMOV Services 32 

Application form for members 

Introducing a NUMOV member: 

32 

B.T. innovation 33 

Imprint 34 

Board 34 

Jägerstr. 63 A / D, D-10117 Berlin 

Phone:+49 (0)30 - 206410-0 

Fax.: +49 (0)30 - 206410-10 

Email: numov@numov.de 

Internet: www.numov.de 

Iraq’s economy on the rise 

Prime Minister Nouri Al-Maliki visited Germany 

A fter long years of stalled bilateral relations the 

Prime Minister of Iraq finally visited Germany. 

On July 22, H.E. Nouri Al-Maliki, Prime Minister 

of the Republic of Iraq, was received by H.E. Dr. 

Angela Merkel, Chancellor of the Federal 

Republic of Germany, in Berlin. Both sides 

emphasized the significance of this visit, marking 

a new stage in bilateral relations between the two 

by Peter Schmitz 

H.E. Nouri Al-Maliki, Prime Minister of the Republic of Iraq 

countries. After the war of 2003 in Iraq, Germany 

did not commit itself substantially within the borders 

of the country, and German business has 

not played a big role in the rebuilding of the crisis-ridden 

economy until now. 

The visit of H.E. Al-Maliki marked the most important 

in a series of bilateral visits within the last 

continued on page 16

Editorial 

Dear readers, 

Dear members of the 

German Near and Middle East Association, 

The visit of Iraq’s Prime Minister Al-Maliki to Germany at the end of July 

was the long-awaited opportunity to present a new Iraq in Germany. 

Iraq’s government has made great strides in providing security and the 

country has now reached a point of stabilization that allows it to focus 

more of its energies on far-reaching reconstruction and development 

endeavours, powered by its oil wealth. This is a thrilling time for the 

country – and a time that is rich in opportunities for foreign business as 

well. German companies have much to offer Iraq on its return to prosperity, 

but they have to make the effort to present themselves as stable 

and reliable partners. German companies should take a more active role 

in the development that is gathering speed in Iraq. Fortunately, the German-Iraqi 

Investment Promotion and Protection Agreement signed during 

Al-Maliki’s visit is a vital basis for the bilateral business relations to 

expand and intensify significantly in the future. 

Iraq continues to be at the heart of a volatile region. Its neighbour Iran, 

for example, is currently under sanctions that are having a noticeable 

impact on the willingness and ability of foreign companies to conduct 

their business. Nonetheless, the interest of German companies in Iran 

remains unabated. The NUMOV Round Table Iran (from page 12) clearly 

showed that German companies recognize the country’s potential as 

a business venue and are interested in forging links to Iran. Improvements 

in the international political climate would enable such business 

contacts to flourish further. 

The dynamic progress and rapid change in the region continue to be fascinating. 

The impact of high oil prices, or the ongoing construction boom 

in the Gulf are setting a high pace of development for the entire region. 

In October, our members will have an opportunity to visit the Erbil region 

of northern Iraq and to examine some of these developments for themselves. 

In the meantime, I hope all readers will find the current edition of 

the Wirtschaftsforum interesting and useful. 

With kindest regards 

Martin Bay 

Chairman of the Board 

German Near and Middle East Association / 

Nah- und Mittelost-Verein e.V. 

Editorial / Personalities 

New appointed Director of the 

German Orient-Institute 

Dr. Gunter Mulack, former German Ambassador, is the 

newly appointed Director of Deutsches Orient-Institut / the 

German Orient-Institute. He studied Islamic Sciences at 

the Universities of Marburg and Göttingen as well as Law 

in the United States. 

He was Commisioner for the Dialogue with the Islamic World in the 

German Foreign Office for many years. In the course of his diplomatic 

career, he served in Egypt, Lebanon, Kuwait, Jordan and Bahrain. His 

previous position was German Ambassador to Pakistan. 

Personalities 

Detlef Dauke is the new head of the department of energy 

with the Federal Ministry of Economics and Technology. He 

was the former head of the Ministry’s technology department. 

Dauke will succeed Andreas Schuseil, who will be responsible 

for communication. The now vacant position as head of the 

technology department will be taken up by Gerold Reiche 

who, in turn, had previously been responsible for communication policy. 

Susanne Dorasil is the new head of Department 300 for Economic Policy 

and the Finance Sector of the Federal Ministry of Economics and Technology. 

She moves from Department 315 for Cooperation with the Economy. 

Khosro Ghanbari has been appointed President of Bank Sepah – Iran’s oldest 

credit institution – by the designated Iranian Minister for Economy and 

Finance, H.E. Hossein Samsami, after serving on the board of the Iranian 

Postbank. 

H.E. Seyyed Shamssedin Hosseini, vice-minister of Welfare and Social 

Security, has been recommended as new Minister of Economics to the Iranian 

Parliament. Holding a doctorate degree in economics, he acted as secretary 

of the joint economic commission with South Korea and Malaysia 

from 1996 to 2002 and from 1998 to 2002 he was secretary general for public 

relations with the Ministry of Energy. 

Beatrix Christina Kania has been appointed as the new 

Deputy Ambassador of Germany to the state of Kuwait. She 

formerly served in the political department of the German mission 

to the United Nations in New York, being responsible for 

the Balkans. 

Dr. Michael Koch has been appointed German Ambassador to Pakistan 

after serving as the head of the special staff Afghanistan for the Federal Foreign 

Office. 

Navanethem Pillay has been appointed as the new UN High 

Commissioner for Human Rights, and will assume her post 

officially on 1 September 2008. She served for eight years on 

the International Criminal Tribunal for Rwanda (including a 

four year term as president of the court), and was subsequently 

appointed judge at the International Criminal Court in 

the Hague in 2003. 

Boris Ruge has been appointed as the new head of the Near East Division 

of the Federal Foreign Office. 

Stefan Schneck is to become the German Embassy’s Advisor for Economic 

Affairs in Saudi Arabia. Previously, he was the EU’s special envoy in 

Moldova and political advisor in the Ukraine (Kiev). 

Prince Hassan bin Talal of Jordan, member of the club of 

Rome and the uncle of the Jordanian ruler King Abullah II, is 

to receive the Augsburg Peace Prize for his substantial contribution 

to interfaith dialogue. Previous recipients of the same 

prize, which is awarded by the city of Augsburg, include 

Michail Gorbatschow and Richard von Weizsäcker. Prince 

Hassan served as President of the World Conference of Religions for Peace 

for many years. 

Christof Weil is the new ambassador of Germany to Iraq, 

replacing Dr. Hanns Schumacher. 

WirtschaftsForum Nah- und Mittelost 5/2008 3

4 

Oil Prices 

Oil prices: Long-term uptrend still intact 

Financial markets breathed a deep 

sigh of relief: Within just one month, 

from mid-July to mid-August, prices for 

WTI and Brent front-month crude oil 

futures plunged from nearly USD 150 

towards 110 per barrel, even faster than 

they had surged up before. International 

equity markets and fixed income markets 

shifted away from disaster mode on 

hopes that the oil-induced inflationary 

pressure may ease, allowing major central 

banks to continuously support economic 

activity and financial sector recovery. 

However, oil prices are still on a strongly 

elevated level. At around USD 110, the 

WTI future is trading 50% higher than a 

year ago, and five times higher than its 

20-year average price level prevailing 

before the super rally (USD 22 in 1984- 

2003). Even in real, i.e. inflation-adjusted 

terms, oil prices are still higher than during 

the second oil crisis in 1980 (see 

chart). Given current market momentum, 

prices may stay under downward pressure 

in the near term. Nevertheless, in 

our view an analysis of the key price drivers 

suggests that the uptrend is still 

intact in a longer-term perspective. 

The key force behind the 5-year rally has 

been a massive tightening of market 

“fundamentals” as global crude and oil 

product supply has struggled to keep 

pace with substantial demand increases 

from China, India, the Middle East and 

other emerging economies with strongly 

rising energy needs due to massive 

infrastructure investment, with higher 

middle-class incomes and the resulting 

changes in lifestyle, and in many cases 

with significant fuel price subsidies. 

Global supply growth has been con- 

by Jens Dallmeyer 

strained by (until recently) relatively tight 

OPEC policy, disappointing non-OPEC 

output due to past underinvestment, the 

“peaking” of major oil fields, political 

interference and resource nationalisation 

in several countries, as well as generally 

rising cost pressure. The result 

has been a persistent decline in crude 

oil inventories and in spare production 

capacity and hence high vulnerability to 

any kind of supply disruption, as reflected 

in high price volatility and elevated 

risk premia for geopolitical or weather 

events. 

Jens Dallmeyer 

Another key driver of dollar-denominated 

oil prices has obviously been the pronounced 

weakness of the USD 

exchange rate. It dampened the price 

increase in economies with stronger 

currencies (like the euro area), and 

encouraged the OPEC cartel to informally 

target a higher USD price range to 

protect the international purchasing 

power of their oil revenues. 

Speculative activity – it is said – has 

increased volatility, but in our view its 

contribution to the price 

surge has been very 

limited. With commodities 

now established as 

a discrete financial 

asset class, the oil rally 

has attracted strong 

portfolio investment 

flows in recent years, 

especially into com- 

WirtschaftsForum Nah- und Mittelost 5/2008 

modity indices. But to have a significant 

and lasting impact on prices, speculative 

activity would need to involve physical 

delivery and storage of oil, and 

there is little evidence of this occuring. 

Anyway, it is hardly possible to quantify 

individual price drivers, and the latest 

plunge shows that market sentiment 

and technical factors can at least accelerate 

market movements. Like in any 

other market, the key function of oil 

prices is to balance demand and supply, 

both in spot and future markets. Since 

the price elasticity of demand (and supply) 

is very low in the short term, it obviously 

took the spike to USD 150 to convince 

the majority of market participants 

that demand dynamics had reached a 

tipping point, eroding the fundamental 

support for higher prices. Indeed, the 

current correction was partly triggered 

by confirmation of falling OECD 

demand and crumbling subsidy regimes 

in some Asian countries, reinforced by a 

tentative recovery of the dollar and 

news about record-high OPEC output in 

July. 

The near-term oil price outlook will 

largely depend on the extent to which 

the previous drivers ease further. If the 

US dollar continues to recover and global 

economic growth falters due to the 

lagged effects of the oil price shock and 

the credit market crisis, we would see 

oil price risks tilted to the downside – 

barring of course any severe geopolitical 

or other supply side shocks. 

For the longer-term price outlook, the 

responses of demand and supply to the 

persistently high price level will be decisive. 

On the supply side, five years of 

strongly rising prices have provided 

strong incentives to boost overdue 

investments across all upstream and 

downstream facilities, including the 

development and exploitation of nontraditional 

fuel sources like the famous 

Canadian oil-sands. However, huge 

investments are already necessary just 

to maintain current production levels, 

continued on page 7

Half the world’s population enjoys 

access to state-subsidised fuel. With 

oil prices rising, governments, mainly in 

the oil-producing nations and the developing 

world, that have hitherto financed 

these subsidies, are increasingly being 

forced to consider whether they can 

afford to retain them. Some (e.g. 

Malaysia, Taiwan, Jordan) have already 

decided to abolish, or at least reduce, 

them. Others (e.g. China) continue to 

declare their intention to preserve them. 

The governments of the developed world 

too, have to consider what fiscal measures 

they intend to implement in 

response to oil price rises and the looming 

danger of growing domestic discontent. 

What effects will the decisions of 

governments have on demand in the 

global market? 

The past months have seen several governments 

in East Asia and the Middle 

East announce the cessation of state 

subsidies on fuel. The newly elected 

president of Taiwan, Ma Ying-Jeou, 

abolished price controls on petrol and 

diesel as of June 1. Similarly, the Indonesian 

government announced that it 

would soon implement a plan to raise 

fuel prices by an average of 28.7 percent. 

Several governments in Latin 

America are also believed to be considering 

similar measures. All this comes as 

no surprise given the crippling burden 

fuel subsidies impose on the governments 

that finance them. In Malaysia, for 

example, the government’s new subsidy 

scheme for fuel is projected to require 

source: opec 

6 

Oil Prices 

Rising oil prices 

challenging governments worldwide 

by Hanna Takeuchi 

some M$ 48bn in funding, 

thereby exceeding the 

M$ 40bn the government 

has budgeted for projects to 

improve infrastructure and 

national development. That 

governments continue their 

subsidies, however heavy 

the burden, is because they 

rightly fear the public reaction 

to any cuts in subsidies. 

Many countries, including 

Nepal, Egypt and others, 

have already witnessed 

substantial public protests. 

Nonetheless, despite governments’ 

understandable concerns, several economists 

fear that their policies merely represent 

misguided short-termism. Firstly, 

so the argument goes, both fuel subsidies 

and price controls promote wasteful 

use of a resource that is clearly in short 

supply. This is particularly clear in the oilproducing 

countries as evidenced by the 

flourishing markets for luxury cars and 

air conditioner units, for example. They 

are simply a way to avoid recognising a 

reality that will sooner or later make itself 

felt. Price controls as used by the Chinese 

government, for example, cause 

severe losses for large oil companies, 

and also prevent much-needed investment 

in energy infrastructure. This may 

eventually lead to fuel shortages. In 

numerous developing nations, many 

argue that there is simply no long-term 

socioeconomic justification for diverting 

funds from development projects to subsidise 

fuel used in large quantities 

only by a small elite. The result of 

these conflicting considerations – 

fear of public opinion on the one 

hand and the crippling burden of 

subsidies or price controls on the 

other – is often a compromise 

whereby governments allow fuel 

prices to rise, but try to offset the 

blow by some social support measures. 

Thus, for example, it is 

rumoured that the Pakistani government 

is considering an 


Weekly Average Opec Basket Price 

source: opec 

increase of more than 10 percent in fuel 

prices, but is simultaneously considering 

a plan to spend some US$ 1.5bn on job 

creation policies and food distribution 

programmes. Jordan too has increased 

its welfare spending budget. 

Oil prices are also challenging consumers 

and governments in the developed 

world. There the general trend 

appears to be towards a decrease in 

consumption as consumers try to cut 

heating, petrol and other costs. Governments 

are taking widely divergent 

approaches to the fiscal measures they 

wish to adopt. On the one hand, Italy has 

introduced a new tax scheme on oil companies 

in order to transfer money to fuel 

users. In a similar vein of supporting consumers 

directly, France is considering a 

cut in VAT on petrol. On the other hand, 

the German and Swedish positions as 

emerged at the EU summit in mid-June 

have been far more sceptical towards 

fiscal intervention on the basis that it hinders 

flexibility and prevents adaptation to 

changing realities. 

The International Monetary Fund, the 

Asian Development Bank, and the International 

Energy Agency have called 

upon governments to reduce or abandon 

subsidies and price controls. So far, the 

response has been only partial. This is 

why oil demand is still forecast by many 

experts to increase – borne now, however, 

on the wings of developing economies, 

not of the industrial nations.

UAE’s and Saudi Arabia’s Largest Companies by Market Capitalisation 

[Name] 

United Arab Emirates 

bn EUR % AED ---changes in %--- 

[market cap.] [P/E ] [Div Yield] [spot] [weekly] [YTD] [2007] 

EMIRATES TELECOM CORPORATION 20,4 12,8 2,9 18,6 -3,9% -3,4% 24,6% 

EMIRATES NBD PJSC 10,9 15,7 2,6 11,8 -1,3% -6,8% 18,4% 

EMAAR PROPERTIES PJSC 10,8 8,9 2,1 9,7 -7,6% -35,2% 22,1% 

DP WORLD LTD 9,0 20,0 1,7 2,9 -3,6% -34,4% -10,3% 

MASHREQBANK 7,5 19,4 0,0 280,0 0,0% 18,2% 14,0% 

NATIONAL BANK OF ABU DHABI 6,6 10,9 1,8 18,1 -11,3% -4,6% 18,5% 

DUBAI FINANCIAL MARKET 5,8 21,9 2,5 4,0 -10,0% -36,1% 501,9% 

FIRST GULF BANK 5,7 12,0 0,8 22,8 -10,4% 12,7% 66,8% 

DUBAI ISLAMIC BANK 4,8 11,3 4,6 7,5 -5,5% -21,4% 26,7% 

ALDAR PROPERTIES PJSC 4,7 6,0 1,0 10,2 -11,7% -16,1% 208,7% 

ABU DHABI COMMERCIAL BANK 4,0 10,2 1,8 4,5 -4,2% -15,5% -8,3% 

DU 3,8 na 0,0 5,2 -4,9% -29,8% 13,3% 

SOROUH REAL ESTATE COMPANY 3,7 11,6 1,5 8,0 -4,6% -7,9% 282,0% 

UNION NATIONAL BANK/ABU DHABI 2,9 11,2 2,0 8,3 -8,7% 6,9% 10,8% 

COMMERCIAL BANK OF DUBAI 2,8 13,4 2,2 10,8 -1,8% 31,1% 8,4% 

UNION PROPERTIES 2,6 14,6 0,0 4,6 -0,2% -2,2% 93,5% 

DUBAI INVESTMENTS 2,2 6,7 0,0 3,6 -0,6% -8,5% 0,3% 

ABU DHABI NATIONAL ENERGY CO 2,2 7,2 3,5 2,9 -1,7% -19,4% 65,1% 

UAE Total (=Abu Dhabi & Dubai) 151,9 15,4 

source: BHF Bank 

„ZOLLRECHT“ 

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as the customs code under community 

law and its executive order, customs 

administrative law, regulations law, national 

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Federal Ministry in these fields. The 

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and offers the possibility for future expansions. 

The focal point of the current issue 2/2008 

is the possibility for traders in the EU to be 

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THIS PUBLICATION CAN BE ORDERED FROM: 

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Fax: 030 250085-305 

continued from page 4 

Long-term uptrend still intact 

with the major part of new supply needed 

to compensate for the increasing 

decline in existing, mature oil fields. Estimates 

for the marginal costs of new output 

differ widely, but due to the immense 

cost pressure and the high geological, 

technical and political risks of many new 

drilling projects (which require higher 

profit margins) it seems clear that upside 

price pressure from the supply side will 

increase further. 

On the demand side, high prices provide 

strong incentives for conservation of fos- 

[Name] 

Saudi Arabia 

bn EUR % AED ---changes in %--- 

[market cap.] [P/E ] [Div Yield] [spot] [weekly] [YTD] [2007] 

SAUDI BASIC INDUSTRIES CORP 64,1 12,4 2,9 118,8 -3,7% -28,2% 57,2% 

SAUDI TELECOM CO 22,7 9,6 7,1 63,0 -0,4% -24,8% 1,2% 

AL RAJHI BANK 21,4 18,0 2,1 79,5 -2,2% -32,2% 21,5% 

SAMBA FINANCIAL GROUP 10,5 12,5 2,4 65,0 -4,4% -45,8% -14,1% 

SAUDI ARABIAN FERTILIZER CO 9,6 16,3 3,6 213,5 -0,9% 34,4% 39,3% 

SAUDI BRITISH BANK 9,2 17,6 2,8 85,3 -2,0% -4,6% -24,1% 

KINGDOM HOLDING CO 9,1 41,7 0,0 8,0 -3,0% -36,0% 22,0% 

SAUDI ELECTRICITY CO 8,6 39,5 6,1 11,5 2,2% -22,0% 13,5% 

RIYAD BANK 8,4 12,8 4,9 31,3 -3,8% -36,8% -23,4% 

RABIGH REFINING AND PETROCHE 7,8 na 0,0 49,5 -5,7% na na 

BANQUE SAUDI FRANSI 7,3 14,5 0,7 72,0 -3,4% -37,8% 40,1% 

ARAB NATIONAL BANK 6,3 15,6 0,0 53,8 -3,6% -36,5% 8,4% 

SAUDI KAYAN PETROCHEMICAL CO 5,9 na 0,0 22,0 -3,3% -15,4% 160,0% 

MOBILE TELECOMMUNICATIONS CO 5,6 na 0,0 22,3 -3,3% na na 

YANBU NATIONAL PETROCHEMICAL 5,2 na 0,0 51,0 -3,3% -3,3% 113,1% 

DAR AL ARKAN REAL ESTATE DEV 4,6 na 6,3 47,3 -4,1% -35,7% na 

ALINMA BANK 4,3 na 0,0 16,0 -1,5% na na 

ETIHAD ETISALAT CO 3,7 13,0 1,2 41,5 -9,3% -43,5% 41,3% 

Saudi Arabia Total 279,5 18,2 

Petrochemical products made in UAE 

All major construction projects in the 

UAE added together constitute 

roughly US$ 950bn. This construction 

boom also entails a demand for varnishes 

and colours. On top of that, while the 

construction boom in Dubai will continue, 

Abu Dhabi’s construction boom has only 

begun. Thus, it comes as no surprise that 

the UAE wants to position itself as a supplier 

of chemical products and is determined 

to leave behind its previous status 

as an importer of these goods. 

To satisfy the needs of the UAE’s construction 

sector, the Abu Dhabi Investment 

Council, Borealis AG (Austria) and 

the International Petroleum Investment 

Company intend to build a massive 

chemical-industrial city which will be the 

world’s biggest complex on the completion 

of its first phase in 2013. Among the 

sil fuels, mainly through more energyefficient 

transport and air-conditioning 

systems, and through substitution by 

alternative energy sources. These 

processes take time though, and while 

oil demand is on a downward trend in the 

OECD countries already, it is set to rise 

further in emerging markets. Hence, total 

global oil demand will likely increase for 

many years, generating upside pressure 

on prices to ensure that demand growth 

stays in line with constrained supply 

growth. 

Overall, and notwithstanding temporary 

overshootings, the trend increase in oil 

prices is sending the right signals to pro- 

source: BHF Bank 

facilities to be built within the industrial 

city is a naphtha cracker able to produce 

ethylene and propene as well as a facility 

for producing xylene, benzene, 

cumene and phenol. It is noteworthy that 

oil instead of gas will be used as a starting 

point of the chemical process. Estimates 

predict that the project could cost 

as much as US$ 20bn. 

In the meantime, the construction of the 

Abu Dhabi Polymers Park has been 

announced by the state-owned Abu 

Dhabi Basic Industries Corporation. This 

project is to house more then 50 companies. 

The reason for these developments 

is obvious - instead of importing plastic 

products, the UAE wants to become a 

supplier of plastic products. The scope of 

the investment for the Abu Dhabi Polymers 

Park will be more than US$ 4bn. 

ducers and consumers of a finite 

resource like fossil fuels. At least until 

the beginning of this year, the global 

economy has proved to be amazingly 

resilient to the sustained surge in energy 

prices, mainly thanks to higher energy 

efficiency, a rising share of services in 

GDP, and the beneficial effects of 

petrodollar recycling in most oil-importing 

countries. The world will get used to 

higher energy prices because it has to. 

The age of USD 20 oil is history. 

Jens Dallmeyer, Senior Economist, VP 

Deutsche Bank Research, Global Risk Analysis 

Head of Developed Markets Team 


8 

Pakistan 

Pakistan: A good opportunity for German 

business partnership 

In order to prepare for the business delegation 

journey to Pakistan, which 

NUMOV is organizing for October 26th- 30th on behalf of the German Ministry of 

Economy and Technology (BMWi), an 

economic seminar of NUMOV took place 

for German entrepreneurs in the 

Embassy of the Islamic Republic of Pakistan 

on August 18th H.E. Shahid Ahmad Kamal, Ambassador of Pakistan 

to the Federal Republic of Germany 

, 2008. The conference 

was attended by high-ranking German 

business representatives of different 

sectors. 

Participants of the economic seminar 

Introducing the event with his address 

about the current economic and political 

situation of Pakistan, H.E. Ambassador 

Shahid Ahmad Kamal thanked NUMOV 

and the BMWi for their special efforts in 

organizing the business trip to Pakistan. 

Furthermore, he focused on the strong 

economic market in Pakistan and pointed 

out the good opportunities for German 

companies for investments. 

Referring to current political developments, 

he remarked upon the “very positive 

reaction of the business communities” 

after the resignation of the former 

President of Pakistan, Pervez Mushar- 

by Sebastian Sons 

raf. He also reminded participants of 

Pakistan’s need for foreign goods, especially 

from Germany. 

Afterwards he highlighted particularly 

successful branches in Pakistan, especially 

the agricultural sector, which is 

determined to increase production with 

the assistance of German expertise. 

Agriculture is and will be one of the key 

sectors in Pakistan’s economy, followed 

by the energy sector, particularly the 

renewable energy sector, in which Germany 

plays a leading role 

worldwide. H.E. Kamal 

said that the Pakistani wind 

energy sector has grown in 

the last years and that Pakistan 

is expected to be able 

to produce 9700 MW per 

annum in 2030. He went on 

to describe the benefits in 

investing in physical infrastructure, 

e.g. airports, 

highways and housing projects, and particularly 

singled out the coal industry 

because of the need for non-oil 

energy sources and the 

immense coal rsources 

of Pakistan (it has the 

4 th largest coal resources 

worldwide). Furthermore, 

he described the 

benefits in investing in 

transport services, textile 

industries and sports 

goods, in tourism, IT 

and carpet industries. In 

all these branches, Germany has good 

opportunities for business, he explained, 

as “Pakistan has huge potentials to grow 

in the future because of a free investment 

government and a 

positive attitude toward foreign 

investments.” He 

assured his audience that 

the security situation in Pakistan 

is safe in the large 

cities, which are most 

important for foreign investors, 

although the situation 

is not that secure in the 

tribal areas at the northern 

frontier to Afghanistan. But, he conclud- 


ed, this will improve in the next months 

under a new president. 

Following this interesting address of 

H.E. Kamal, Mrs. Monika Stienecker, 

member of the Division for Economic 

Relations with South East Asia of the 

German Ministry of Economics and 

Technology, thanked the host H.E. 

Kamal and NUMOV for the good organization 

of the event and the journey. 

Afterwards she presented a brief survey 

of the benefits of contact visits as for- 

f.l.t.r.: H.E. Shahid Ahmad Kamal, Ambassador of Pakistan to the Federal 

Republic of Germany; Patrick Heinz, German Embassy in Pakistan, and 

Monika Stienecker, Federal Ministry for Economy and Technology 

eign-trade promotion instruments and 

emphasized the importance of Pakistan 

as a German trading partner. Germany 

exports to Pakistan reach a value of 911 

million € and imports amount to 643 million 

€. German direct investment in Pakistan 

amounted to 180 million € in 2006. 

With a GDP growth of 4.6 % in 2007, 

she stressed the good opportunities for 

German companies to invest in Pakistan. 

As the last speaker, Mr. Patrick Heinz of 

the German Embassy in Pakistan 

thanked NUMOV and the Pakistani 

Embassy and reported on his personal 

experiences in Pakistan during the last 

two years. He concluded that Pakistan 

has to do a lot for its industrial and 

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Iran’s energy commitments 

With the demand for energy rising by 

up to 8% per annum and with 

approaching signs of supply shortages, 

H.E. Parviz Fattah, the Iranian Minister 

of Energy, is striving hard to attract foreign 

investors to Iran’s energy sector. 

Recently, Dubai’s Quest Energy Company 

together with the Iranian Power Project 

Company (Mapna), have launched 

the Independent Power Project to build 

an open-cycled 1,000 MW gas-fired 

power plant at Shiraz. This plant is 

scheduled to be financed by the Dubai 

Islamic Bank, while the turbines will be 

constructed and designed by a German 

company. This is a major investment for 

Iran. 

Recently, a feasibility study for a 180km 

long 1,500 MW power line between 

Dubai and Iran was conducted. Such an 

10 

by Victor Macfoy 

interconnection would provide a highvoltage 

direct flow of current to Dubai 

from the Iranian national grid. 

Despite the efforts that have been made 

to boost energy production in Iran, large 

obstacles remain. Some Western businesses 

are deterred from investment 

ventures in Iran due to the ongoing international 

political tensions. 

Saudi Arabia’s Xenel Industries have 

planned to establish a 1,200 MW power 

plant at Tabriz, but due to disagreements 

over price issues with Iran, the project 

has been temporarily postponed. 

Despite these mishaps, over 43 preliminary 

agreements are to be signed for 

about 36,000 MW in 2008. The Ministry 

of Energy is also planning to privatize 10 

existing power plants this year. 


5 th Pakistan Oil, Gas & Energy Conference 

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POGEE Conference continues to enjoy a steady 

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German Chancellor Dr. Angela Merkel visits Algeria 

to boost German-Algerian economic ties 

German Chancellor H.E. Dr. Angela 

Merkel sought to boost ties with 

Algeria as she oversaw the signing of a 

deal to build one of the world’s largest 

mosques in Algiers and launched a 

panel to enhance economic relations 

with this strategic oil and gas exporter. 

Germany depends heavily on Russia for 

its natural gas and deepening ties with 

gas-rich Algeria could therefore help 

diversify supplies. Germany’s deputy 

minister for economy and technology, 

H.E. Dr. Bernd Pfaffenbach, proposed 

a long-term strategic partnership with 

Algeria, calling on the North African 

nation to increase natural gas exports to 

Europe. Algeria is the second-biggest oil 

and gas exporter to Germany at 1 billion 

Euros a year, and imports 1.2 billion 

Euros of goods from German firms, 

mainly industrial equipment. Several 

Ongoing construction 

boom in Dubai – 

3,000 towers planned 

Within the next 20 years, another 

3,000 towers will be added to 

Dubai’s skyline. The Dubai Marina and 

Jumeirah Lake Towers projects will cater 

for 200 towers, while Dubailand, Dubai 

Waterfront and Jumeirah Village South 

will also see the erection of towers in a 

three-digit range. However, the biggest 

number of high-rise towers will be 

realised in the Dubai World Central complex 

with about 850 commercial and 

1,100 residential towers planned. 

Yet, some critics have also voiced their 

doubts about the feasibility of the plans. 

Dubai has a land area of 4,114km² and a 

population of approximately 1.4 million 

inhabitants. New York, with a population 

of 8.2 million inhabitants in 2006, possesses 

about 5,500 such buildings. Also, 

the construction boom has to take into 

account human needs for public places 

and open areas, says Matthew Green, 

research manager at Cluttons UAE, a 

property consultant company. 

Algeria/UAE 

future projects were also discussed by 

H.E. Chancellor Dr. Angela Merkel and 

H.E. President Abdelaziz Bouteflika. 

Dr. Angela Merkel, German Chancellor and Abdelaziz 

Bouteflika, President of Algeria 

As part of a capital investment programme 

worth billions of Euros, the 

Algerian government is currently awarding 

new licences for oil and gas extraction. 

Several German companies are 

among the international applicants for 

these drilling rights. Two of them were in 


the 13-strong business delegation who 

accompanied German Chancellor H.E. 

Dr. Angela Merkel to Algiers on the 16 

July 2008. 

The Chancellor H.E. Dr. Angela Merkel 

and President H.E. Bouteflika oversaw 

the conclusion of a deal for German 

firms to take on the planning of a huge 

new mosque in Algiers that will offer 

room for 40,000 people. The mosque is 

expected to be completed by 2012 and 

will be among the tallest in the world, 

with a minaret rising to 214 meters. The 

contract was awarded to Frankfurt architects 

KSP Engel and Zimmermann 

together with Krebs and Kiefer, a Darmstadt 

engineering team, who beat out 

French and British competitors for the 

deal. The new mosque in Algiers will cost 

about one billion Euros. 

German foreign trade with the countries of North Africa 

and the Near and Middle East, June 2008* (in million Euros) 

Imports Exports 

Arab Countries: Jan.-June Jan.-June %-Change Jan.-June Jan.-June %-Change 

2007 2008* 

2007 2008* 

U A E 225,8 263,3 16,6 2.904,6 3.272,6 12,7 

Saudi Arabia 568,0 688,1 21,1 2.535,3 2.507,4 -1,1 

Egypt 394,7 622,4 57,7 1.024,1 1.271,5 24,2 

Marocco 272,6 286,7 5,2 638,5 755,7 18,3 

Qatar 14,9 7,3 -50,9 437,2 749,3 71,4 

Tunesia 546,7 631,5 15,5 696,9 704,4 1,1 

Algeria 236,2 867,2 267,1 570,8 687,7 20,5 

Oman 9,1 9,3 2,2 270,1 614,2 127,4 

Kuwait 13,2 81,2 X 483,6 544,2 12,5 

Jordan 18,4 8,5 -53,7 357,7 405,9 13,5 

Libya 1.920,4 2.911,8 51,6 337,8 388,4 15,0 

Syria 428,5 587,1 37,0 312,6 305,2 -2,4 

Lebanon 13,6 19,6 43,6 229,8 242,8 5,7 

Bahrain 57,3 49,4 -13,8 161,0 167,1 3,8 

Iraq 12,9 43,8 238,2 138,1 152,7 10,6 

Yemen 5,6 4,2 -25,8 132,9 112,4 -15,4 

Sudan 11,0 17,2 56,4 116,0 89,1 -23,2 

Mauretania 56,7 53,5 -5,6 20,6 25,5 23,6 

Palestinian Territories 0,2 0,2 37,4 9,0 13,9 54,5 

Djibouti 0,1 0,1 12,9 5,2 7,6 48,4 

Somalia 0,1 0,1 -5,8 1,3 0,5 -64,3 

Total, Arab Countries: 4.806,1 7.152,6 48,8 11.383,0 13.018,1 14,4 

Iran 225,3 210,7 -6,5 1.644,7 1.910,7 16,2 

Israel 875,8 818,7 -6,5 1.282,4 1.386,2 8,1 

Afghanistan 3,2 1,9 -42,0 72,7 133,8 84,2 

Total, North Africa, 

Near and Middle East 

5.910,5 8.183,9 38,5 14.382,7 16.448,8 14,4 

X) increase of more than 500 % *) preliminary data - Source: German Federal Statistical Office 

11

Dr. Mohammad Nahavandian, Chairman of The Iranian 

Chamber of Commerce, Industries and Mines 

(ICCIM) 

The main goal of the official visit to 

Germany on July 10, 2008 of a highranking 

Iranian delegation – headed by 

Dr. Mohammad Nahavandian, the 

chairman of The Iranian Chamber of 

Commerce, Industries and Mines 

(ICCIM) – was a sincere and open dialogue 

aimed at finding new ways to 

improve the present bilateral commercial 

relations between non-governmental 

institutions and companies in Germany 

and Iran. Therefore, the German Orient- 

Institute and the German Near and Middle 

East Association (NUMOV) organized 

a Round Table Iran. 

Welcoming the guests from Iran, Jürgen 

Sander, member of the board of 

NUMOV as well as CEO of VEM Motors 

12 

Round Table Iran in Berlin 

by Puya Kamalian 

GmbH and host of the Round Table Iran, 

wished all attendants success in maintaining 

existing mutual commercial relations, 

expanding business transactions, 

and in overcoming the present widespread 

inhibitory atmosphere. This was 

echoed by other speakers. “I hope that 

just as this ship is sailing forward, German 

– Iranian relations will also make 

progress in the future”, remarked Dr. 

Nahavandian. Despite U.N. sanctions, 

the Iranian foreign trade balance will rise 

from US$ 37.81bn to US$ 44.1bn in 

2008, he said. Even the USA – the main 

initiator of sanctions – had increased its 

trade value with Iran from US$ 8.3m in 

2001 to US$ 146m in 2007. He added 

that it was a pity that Germany – Iran’s 

biggest European trade partner – has 

been losing out to China and Russia in 

terms of market share. Eager to develop 

as quickly as possible, Iran is looking for 

Jürgen Sander, member of the board of NUMOV and CEO of VEM Motors GmbH speaking to the participants 

Iran 

reliable and decisive partners. Obstructions 

and delays in 

commercial transactions 

– which 

are caused and 

imposed by politicaldecision-makers 

– cannot slow 

down the growth of 

the private sector 

in Iran, he continued. 

Therefore, in 

order to convince 

politicians that 


Davoud Danesch Jafari, former Minister for Economic 

Affairs of Iran 

both economies should not to miss out 

on opportunities, the exchange of views 

in such a friendly atmosphere as was 

present in Berlin would be vital, he 

declared. 

After a meal in a relaxed atmosphere, 

the sanctions and their effects on different 

commercial areas as well as the 

resulting financing problems were at the 

heart of a lively dialogue moderated by 

Jürgen Sander. The risk of losing their 

share and presence in the US-market by 

either keeping or expanding trade with 

an Iran under international sanctions 

was a cause for concern among many 

German businessmen. Dr. Nahavandian 

expressed his belief that the U.N. sanctions 

would determine only the general 

framework. He said that one could interpret 

these more or less liberally and 

argued that politicians should not apply 

sanctions in such a drastic manner as to 

Dr. Mohammad Nahavandian, chairman of The Iranian Chamber of Commerce, Industries 

and Mines (ICCIM) speaking to the participants 



Round Table Iran in Berlin 

create barriers for trade relationships. 

The sanctions target goods with potential 

dual civil and military application, something 

which clearly does not apply at all 

to supplies of medical technology, for 

example. “If you operate in such a field of 

business you are on the safe side and 

will not be harmed by any sanction”, he 

assured the participants. 

Marc Neumann, Member of the Board of NUMOV and 

Chairman of the Board of Managing Directors, MAN 

Ferrostaal Industrieanlagen GmbH and Dr. Mohammad 

Nahavandian, Chairman of The Iranian Chamber 

of Commerce, Industries and Mines (ICCIM) 

The financing possibilities after EU sanctions 

against Bank Melli, the biggest 

Iranian state-run bank, were also discussed. 

Bank Melli´s accounts in the EU 

are currently blocked and European 

banks are barred from any transactions 

with it. According to Dr. Nahavandian, 

the Islamic banking bonds Sukuk, which 

have been used very successfully 

amongst others in Malaysia, are a safe 

way to finance bilateral cooperation without 

the threat of any sanction. At the 

moment, the European Iranian Mercantile 

Bank, EIH Bank, is the only option for 

German businessmen wishing to open 

LCs or to carry out bilateral transactions. 

EIH Bank representative Norbert Eisenmenger 

confirmed that under the present 

circumstances, EIH Bank could not keep 

up with the increased demand because 

of its limited capital. Hereupon Dr. Nahavandian 

assured listeners that the capital 

Participants of the Round Table Iran 

14 

Iran 

of the EIH Bank would be increased. 

This was confirmed by Davoud Danesch 

Jafari, the former Minister for Economic 

Affairs who retired in April 2008. Referring 

to the present state of the reserve 

account from crude oil income, this 

should be no problem, he added. By law, 

half of the government’s revenue derived 

New 100 Million Euro Project 

A deal has been struck between Iran and the German plant construction company 

Anlagenbau Steiner GmbH, which has more than a century of experience in engineering 

and steel manufacturing. The deal has been valued to the tune of some 100 

million Euros (some four times the usual annual turnover of the Steiner Group), and 

involves the building of three large gas-liquefication plants at a site in southern Iran. 

Iran possesses massive reserves of natural gas, and the plants serve to facilitate the 

export of the gas by converting it to liquid form, making it easier to transport by ship. 

The plants are to be constructed in Germany, shipped to Iran, and then set up there 

by Steiner GmbH engineers – all according to the spirit of Steiner GmbH which 

prides itself on its “everything under one roof” concept by which its customers are 

supported by the same company from the very earliest stage of the design process 

to final quality controls and checks. 


INVITATION 

T.I.A.F 2008, 6 th International Exhibition of Transportation, Urban Service & Related Industry which 

will be held from 29 Oct – 1 Nov. 2008 at the Tehran International Permanent Fairground, Tehran- 

Iran which organized by Avin International Corp. The show consists of many services and relevant products 

for Transportation & Urban Services as follows: Main Product Group of Transportation: Public 

commercial vehicles, Construction machineries & vehicles, Rail industry, Municipal vehicles, Special vehicles, 

Traffic industry , Heavy vehicles, Cranes & Fork Lifters , Automotive parts & equipment, Communication 

facilities, Related industry / equipment & Parts, etc. Main Product Group of Urban Services: 

Urban Services Machineries, Fire Fighting Trucks and Equipments, Urban Design, Urban Landscape & 

Green Space Technology and Machineries, Recycling & Waste Management, Urban Furniture. If you are 

in any activities which is some how related the aforementioned, we are in sincere position to let you know 

that this is a great opportunity, in order to obtain more information about the show please do not hesitate 

to visit our dedicated web site detail as www.tiaf.ir. Or for further information or assistance on how to participate 

in the exhibition, please fill-in your contact details and reply by return your expression of interest 

to A.Etedali Managing Director Tel: +98 21 220 20 248 Fax: +98 21 220 18 598 Email: fair@avinafraz.com 

“PERSISCH VERSTEHEN LERNEN” 

Forms of expression and communication conventions for relations with Iranian business partners 

1 March 2009, Berlin 

FOCUS OF THE SEMINAR: 

-Important cultural background information 

-Behaviour in Iran 

-Differences in mentality and the impact of religion in relating to one another 

-Regional geography 

-The language: introduction to Iranian forms of expression 

�Every participant receives an accompanying booklet on Farsi complete with CD. 

The seminar is held in German. 

Since the number of participants is limited, please make a note of this important seminar now. The cost 

of the seminar including the above-mentioned booklet is EUR 255 for NUMOV members (EUR 440 for 

non-members). 

This does not include the costs of an Iranian dinner, other meals or hotel costs. 

Reply to: FAX +49 (0)30/20641010 

or Email numov@numov.de 

� I am / we are interested in the seminar "Persisch verstehen lernen" 

and ask you to send me / us the application papers and the program. 

Name, Company, Address, Phone, Fax, Email 

from income in excess of projected profits 

from oil sales has to be spent in supporting 

the private sector and in the 

granting of credit. The delegation of 

ICCIM assured listeners that German 

companies can get loans from the mentioned 

reserve account within the framework 

of their commercial relations.

UAE/Pakistan/Iraq 

Masdar’s investment in Germany 

Erfurt – On Wednesday 20th August 

2008, the UAE Masdar Group celebrated 

the official opening of its new factory 

in Thuringia. An ultra-modern construction 

plant for thin-film solar photovoltaic 

systems is to be built at “Erfurter 

Kreuz,” a location south of the regional 

capital. Masdar Abu Dhabi Future Energy 

Company is to invest 140 Million 

Euros in the project. The creation of 180 

jobs has already been decided, while, in 

the medium term, it is expected that 

some 600 jobs will be provided. 

The official start of the building project 

was jointly announced by Dr. Sultan 

Ahmed Al Jaber, CEO of Masdar, Dieter 

Althaus, the Prime Minister of Thuringia, 

Jürgen Reinholz, Thuringia’s 

Minister for Economy, and Andreas 

Krey, the CO of the State Development 

Corporation of Thuringia. “Masdar’s 

choice of Thuringia shows that the Free 

State is, as one of the leading centers for 

solar energy worldwide, a magnet for 

high-tech companies active on a truly 

global scale,” said Dieter Althaus at the 

opening ceremony. For his part, Dr. Sultan 

concluded his remarks about his enterprise’s 

aims and aspirations by commenting: 

“We are delighted to share in 

Pakistan: A good opportunity 

for German investors 


economic development within the next 

three years and that Germany has to get 

more involved in the country. 

Afterwards, all the participants were 

invited to have a small snack in the 

beautiful rooms of the Pakistani 

Embassy with the aim using this opportunity 

to intensify contacts with one 

another and get information about Pakistan. 

The delegation journey to Pakistan will 

take place from October 26 th -October 

30 th , 2008 and will involve business 

meetings and conferences in Islamabad 

and Karachi. 

ceremony for the laying of the foundation stone of Masdar’s new factory in Thuringia 

the success of Thuringia as a center for 

solar power.” 

The Thuringian plant is to start its work in 

the third quarter of 2009 with an initial 

production capacity of 50 MW per 

annum. Later, an increase to the level of 

280 MW is planned. In addition to production 

units, Masdar is also to invest in 

further research, development and marketing. 

The investment in Thuringia is 

embedded in a larger Masdar package 

worth 2 billion USD in the field of thin-film 

solar photovoltaic systems, which promotes 

the goals of the Masdar Initiative 

for renewable energies and energy 

saving strategies. A second plant is to be 

Iraq Transportation & Communications 

Technology Summit in Dubai 

Global operators who are interested 

in developing Iraq’s communications 

infrastructure in cooperation with 

the Iraqi government will have the opportunity 

to hold talks with government officials 

at the Iraq Transport & Telecommunications 

Technology Summit taking 

place from October 9-10, 2008 in Dubai. 

The newly appointed Minister of Communications 

of Iraq, H.E. Farooq 

Abdulqader Abdulrahman, confirmed 

his attendance along with a high-ranking 

government delegation. According to the 

Iraq Development Program, representatives 

of the Iraqi Ministries of Communications, 

of Science and Technology and 


established in 

Abu Dhabi in 

parallel to the 

building of the 

factory in Thuringia. 

For Thuringia, 

the new construction 

project 

marks yet another 

step on an 

already successful 

path. After a 

very rapid period of growth in this relatively 

new branch of its economy, Thuringia’s 

47 solar power companies have 

already come to produce 10% of solar 

cells and units worldwide. The solar 

power sector is expected to expand by 

some 20% in the coming year. 

Dr. Sultan Ahmed Al Jaber, CEO of Masdar; Dieter Althaus, 

the Prime Minister of Thuringia 

of Transport will attend the event in the 

Emirate alongside their counterparts in 

the Kurdistan Regional Government and 

a delegation from the Governorate of 

Basra – in total over 40 Ministers and 

officials. 

The development of the country’s communication 

infrastructure is a vital precondition 

for developments in other 

infrastructural areas, such as the 

upgrading of railways, ports and airport 

services. The focus of this event is to be 

on the expansion of the mobile telecommunications 

network, the fixed line networks 

and the public information technology 

systems. 

15


Iraq’s economy on the rise 

H.E. Nouri Al-Maliki visited Germany 

months – a milestone in reaching a new 

quality in Iraqi-German relations. On 

May 30, 2008, the fifth session of the 

Iraqi-German Joint Commission on Economic 

and Technical Cooperation took 

place in Berlin – 21 years after the fourth 

session. During this session, great interest 

in strengthening bilateral relations 

was expressed by the Iraqi delegation, 

H.E. Fawzi al-Hariri, Minister of Industry of Iraq and Dr. 

Bernd Pfaffenbach, State Secretary in the Federal Ministry 

of Economics and Technology 

which was headed by H.E. Fawzi Al- 

Hariri, Minister of Industry of Iraq. This 

interest was wholly reciprocated by the 

German business community. Obstacles 

and the future outlook were discussed, 

and the German side promised not to 

forget its role in rebuilding the country. 

This commitment was underlined by the 

visit of H.E. Michael Glos, Federal Minister 

of Economics and Technology, to 

Baghdad in early July this year. Together 

with a group of high-ranking businessmen, 

he showed that Germany is seeking 

to encourage its entrepreneurs to 

visit Iraq and to see for themselves the 

progress Iraq has made in security, institution 

building and in implementing a 

functional framework for the set-up of 

business operations. 

H.E. Fawzi al-Hariri, Minister of Industry of Iraq and 

H.E. Michael Glos, Federal Minister of Economics and 

Technology 

Iraq and Germany are linked together by 

a long history of bilateral relations, as 

16 

Iraq 

well as by a number of similarities. Parts 

of the economic situation of Iraq, such as 

the rebuilding of vast sectors of it, the privatisation 

of state-owned enterprises on 

a large scale, and not least of all the 

hopeful atmosphere of a new beginning 

are reminiscent of the years following the 

German Reunification and the rebuilding 

of the former socialist economy. This is 

why several German businessmen, who 

were involved in this process and are 

now among the pioneers in Iraq, are coping 

well with the difficulties and obstacles 

in the Iraqi economy. 

However, there are two very important 

differences to Germany as regards the 

opportunities for foreign entrepreneurs in 

Iraq. There is not a lack of capital in Iraq, 

but a lack of know-how and technology – 

in post-Reunification Germany the situation 

was the exact opposite. For the year 

2008, a budget surplus of US-$ 79 million 

is predicted due to rising oil rev- 

H.E. Fawzi al-Hariri, Minister of Industry of Iraq and H.E. Michael Glos, Federal Minister 

of Economics and Technology 

enues, and the government of Iraq has 

allocated US-$ 25bn for 

rebuilding the infrastructure 

and economy. However, 

it seems that only 

US-$ 9bn will be spent, as 

the domestic industry is 

not in a position to provide 

most of the necessary 

services and measures, 

and foreign investors still 

hesitate to start activities 

in the country. But this is 

changing and light has 

appeared at the end of the 

tunnel. The new investment 

law, which was 

implemented in the spring 

of this year, provides foreign investors 

with a large range of incentives. With 

customs-free import of machinery, ten 


year tax-exemptions for profits, and the 

possibility to repatriate the invested capital 

and the salaries of foreign employees, 

the investment law is an important 

part of the Iraqi government’s strategy to 

get the international business community 

involved in the country. Regarding 

German companies, the agreement on 

the protection and promotion of invest- 

H.E. Fawzi al-Hariri, Minister of Industry of Iraq and 


Technology 

ment, which was signed during the 

recent visit of H.E. Al-Maliki, should further 

encourage the 

promotion of bilateral 

business relations. 

It is the first 

agreement of its 

kind after the end of 

the regime of Saddam 

Hussein and 

therefore another 

sign of the importance 

the govern- 

ment of Iraq attaches 

to Germany’s role 

in the future economic 

development of Iraq. 

H.E. Nouri Al-Maliki, Prime Minister of the Republic of Iraq and H.E. Alaa Al- 

Hashimy, Ambassador of the Republic of Iraq to Germany 

However, as not only Iraqi officials, but 

also foreign entrepreneurs who are 

already active in Iraq point out, the time

f.l.t.r.: H.E. Michael Glos, Federal Minister of Economics 

and Technology; H.E. Nouri Al-Maliki, Prime Minister 

of the Republic of Iraq and H.E. Fawzi al-Hariri, 

Minister of Industry of the Republic of Iraq 

to start activities is now. The determination 

of the Iraqi people and its government 

to seize the opportunity provided 

by the improving political and security situation, 

as well as the increasing revenues 

of the oil industry are contributing 

to an awareness of the country’s potential 

and importance for the world economy 

and hence also to a growing self-confidence 

among the Iraqi people. Thus, as 

Iraqi and German officials have repeatedly 

stressed, it is not enough to seek 

contact with Iraqi representatives 

through fairs or conferences in the surrounding 

countries. Iraq expects to be 

viewed as an independent and equal 

partner and direct visits by potential 

investors and business partners are 

therefore essential. 

The oil and gas sector, is and will continue 

to be, the country’s dominant economic 

sector, and revenues derived from 

it will help in developing other sectors. 

Daily oil production in Iraq has reached 

the pre-war level of 2.5 million gallons 

per day. Experts estimate that it could 

rise to 3.5 million gallons per day within 

this year. In the long term, 10 million gallons 

per day seem possible with modernised 

and more productive oil fields. As 

there have been almost no explorations 

within the last twenty years, the capacity 

may be significantly higher. However, in 

order to develop these vast resources, 

H.E. Nouri Al-Maliki, Prime Minister of the Republic of 

Iraq and H.E. Fawzi al-Hariri, Minister of Industry of 

the Republic of Iraq 

Iraq 

significant investments in up-, mid- and 

downstream production are needed. 

Only 10 percent of Iraq has been fully 

explored, leaving room for much more 

exploration work. As a consequence of 

the expected rise in oil production, a 

more extensive pipeline infrastructure 

will also be needed. Currently, the existing 

pipeline network enables Iraq to 

export 2.5 million barrels per day, with 

the lion’s share of 2 million barrels reaching 

the world market via the Gulf countries. 

Especially at the northern border, 

new pumping and metering facilities will 

help to increase exports to northern 

countries. In the southern area, there is a 

lack of storage facilities. Regarding the 

downstream production, Iraq is seeking 

to double its refining capacity by 2010, 

which today amounts to 587,000 barrels 

per day. The preferred procedures in this 

field are build-operate-transfer projects, 

in which foreign investors have already 

shown an interest. 


Technology, H.E. Nouri Al-Maliki, Prime Minister of the 

Republic of Iraq 

Related to the oil production is the petrochemicals 

and plastics sector, which is 

growing considerably. The growth of 

other sectors (for example construction 

and agriculture) boosts the demand for 

fertilizers, PVC pipes and other products, 

leading to a remarkable domestic 

demand. 

This shows the importance of the oil and 

related hydrocarbon industry. But there 

are other sectors in Iraq with significant 

opportunities for foreign engagement. 

After the years of sanctions and war, Iraq 

badly needs to develop its infrastructure. 

Roads, bridges and railway tracks need 

to be built, telecommunication networks 

must be installed. Machinery of all kinds 

is scarce, a situation that especially 

favours German strengths. Daimler AG 

opened a training centre in February of 

this year. MAN is already selling and 

maintaining trucks in Iraq and has signed 

a decleration of intent to open an assembly 

line for busses and trucks in 2009. 

These seem to be promising models, as 

they serve Iraq’s need for equipment as 

well as for training and education. 

Another interesting field of activity is construction 

materials. The huge demand 

for infrastructure of all kinds has driven 

up the prices for construction materials, 

yet the production costs in Iraq are low. 

Most raw materials are found within the 

country, so that cement, glass, brick, 

steel and marble can be produced in the 

vicinity of the resources’ extraction sites 

and close to the consumer as well. 

Being part of the ancient Fertile Crescent, 

Iraq’s agricultural potential is 

among the biggest in the region. Today, it 

is the country’s biggest non-oil economic 

sector, employing approximately 20-25 

percent of the labour force and producing 

approximately 10 percent of Iraq’s 

GDP. However, the processed food 

industry only contributes approximately 1 

percent to the GDP of Iraq, which is little 

compared to the surrounding countries. 

During the visit of Prime Minister Al-Maliki, 

this issue was also touched upon, as 

H.E. Dr. Ali Hussein Al Bahadli, Minister 

of Agriculture of the Republic of Iraq, 

and H.E. Horst Seehofer, Federal Minister 

of Food, Agriculture and Consumer 

Protection, agreed on cooperation in 

their fields. As most basic products can 

be produced within the country, a modern 

food-processing industry would help 

to break the dependency on food imports. 

In the short run, the domestic market 

is very promising, but in the long run, 

the agricultural sector also provides 

opportunities for export. Currently, the 

per capita consumption of most products 

is still comparatively low. For example, 

the per capita consumption of poultry is 

now around 4.5 kg per year, but is predicted 

to triple or quadruple within the 

next years. German know-how in the 

agricultural field is vast, not only with 

regard to agricultural machinery but also 

to all related goods like equipment for 

factory farms, seeds, crop protection 

products, irrigation plants or sugar and 

bread factories. Because of the importance 

of this sector, the formation of a 


H.E. Nouri Al-Maliki, Prime Minister of the Republic of Iraq and H.E. Dr. Angela 

Merkel, Chancellor of the Federal Republic of Germany 

working group for agriculture within the 

Iraqi-German Joint Commission on Economic 

and Technical Cooperation was 

discussed during the ministerial talks. 

The telecommunications sector of Iraq 

was in a good condition in the 1980s, but 

from then on it was kept from technological 

advances. The 2003 war led to a 

further deterioration of the sector. 

Although there has been some improvement 

in the last years, the population 

and the economy of Iraq still demand a 

better supply of services and devices in 

this sector. Cellular phones are viewed 

as an important precondition for setting 

up a business, as are intra- and internet 

services and equipment. 

H.E. Nouri Al-Maliki, Prime Minister of the Republic of Iraq and H.E. Frank- 

Walter Steinmeier, German Federal Foreign Minister 

Critical for the further development of 

Iraq is the electricity supply. Although the 

production of electricity has risen by 11 

percent within the last year, the demand 

is not met by far. In some parts of Baghdad, 

people recieve electricity for only 3 

hours a day. Years of irregular maintenance 

have left generators and the 

transmission network in a poor condition. 

Several years of significant investments 

will be needed. The improving security 

situation has contributed to a recent 

amelioration, but many people and institutions 

are still dependent on privately 

18 

Iraq 

run generators. The 

Ministry of Electricity 

has proposed the construction 

of several 

electricity plants, but 

improvements in transmission 

and distribution 

are particularly 

urgent. In the short and 

medium term, decentralized 

power stations 

and networks are 

needed, especially for 

medical, industrial or 

agricultural facilities. Improvements in 

the electricity supply will also contribute 

to a further amelioration of the security 

situation in the country’s major cities. 

The newly formed Iraqi National Investment 

Commission provides an overview 

of the situation in the country, the performance 

of the economy and its various 

sectors. The latest contacts between the 

government officials of Iraq and Germany 

showed that both sides will make 

greater efforts to establish business 

contacts. The opening of a German consulate 

in Erbil in 2009 will help entrepreneurs 

who are contemplating starting 

business activities in the northern region 

of Iraq. Among international businessmen, 

the Erbil region is 

viewed as a promising 

gateway to the country, 

since the security situation 

is less tense and 

the general infrastructural 

situation better 

than in other areas of 

the country. 

There will be other 

activities in the field of 

cultural cooperation, 

such as the opening of 

a dialogue centre by the Goethe-Institute. 

Cultural cooperation is considered 

important for the future development of 

bilateral relations, and Germany is in a 

good starting position, as most Iraqis 

have a positive attitude towards Germany, 

its people, its economy and its 

technical know-how. 

Though in the past positive signs for an 

Iraqi recovery have sometimes been followed 

by new problems and decline, it 

seems as if the current upswing is stable 

and sustainable. 2007 was sometimes 


called a lost year for the Iraqi economy, 

as growth was negligible, particularly in 

the non-oil sectors. In turn, however, 

2008 should be called the year of reconstruction 

and progress. 

TRIPS TO IRAQ 

There are several ways of travelling from 

Germany to Baghdad. However, the only 

way to fly with the same airline on the whole 

route is to travel via Amman (with Royal Jordanian 

Airlines). This is also by far the most 

frequent connection 

Frankfurt – Amman – Baghdad 

Airline Royal Jordanian Airlines 

Website www.rj.com 

Tel. +49 69 231 853 / 4 / 5 / 6 

Other Daily connection 

Berlin – London – Baghdad 

There are obviously many ways to get from 

Berlin to London. The London – Baghdad 

connection is offered by Iraqi Airways: 

Airline Iraqi Airways 

Website www.iraqiairways.co.uk 

Tel. +44 2077248455 

Other 3 times a week 

An alternative to flying via Amman or London 

is to travel via the Kurdish Autonomous 

Region. There are several (if relatively infrequent) 

connections between German cities 

and the Kurdish Autonomous Region. 

Frankfurt – Erbil 

Airline Zagros 

Website www.zagros.eu 

Tel. +49 6969597370 

Other Once a week. 

This airline also plans to open a Frankfurt – 

Baghdad connection. 

Berlin – Vienna –Erbil 

Airline Austrian Airlines 

Website www.aua.com/at/deu 

Tel. +49 1803000520 

Other 4 times a week 

Berlin – Sulaymaniyah 

Airline Zozik Air 

Website www.zozik-air.com/index.html 

Tel. +49 911 - 96 53 32 – 0 

Other Once a week 

Sulaymaniyah / Erbil - Baghdad 

Airline Iraqi Airways 

Website www.iraqiairwaysonline.com 

Tel. +96415372002 

Other The Baghdad office, NOT the 

London office, is in charge of this connection. 

It is also possible to travel via the UAE: 

Berlin – Dubai – Bagdad (4 times a week), 

Berlin – Dubai – Basra (once a week), 

Berlin – Dubai – Erbil (twice a week). 

There are several ways of travelling from 

Berlin to Dubai. The Dubai – 

Baghdad/Basra/Erbil connection is offered 

by Jupiter Airlines. 

Airline Jupiter Airlines 

Website www.jupiterairlines.com 

Tel. +97165571890

Airbiz strikes deal 

with Iraqi partner 

Terminal of Baghdad International Airport 

The three terminals of Baghdad International 

Airport will receive a new 

flight information system, informing flight 

passengers in Arabic and English about 

arrivals and departures. Together with its 

Iraqi partner Golden Line Corporation, 

Airbiz Gmbh – a technical consultant 

company and service provider for airport 

display systems – is installing 100 monitors 

as well as a loudspeaker system for 

passenger information. 

Mumtaz A. Rushdi, Managing Director of Golden Line 

Corporation and Stefan Hölz, Managing Director of 

Airbiz GmbH in Amman 

The contract was signed on Monday, 

July 28, 2008, by Mumtaz A. Rushdi, 

Managing Director of Golden Line Corporation 

and Stefan Hölz, Managing 

Director of Airbiz GmbH in Amman. The 

two companies also signed a long-term 

cooperation agreement. 

Iraq resumes oil exploration 

After a break of 20 years due to UN 

sanctions, Iraq has resumed exploration 

of its oil reserves, a spokesman of 

the Ministry of Oil announced. Exploration 

teams which were trained abroad in 

the latest exploration techniques started 

their work in mid-August this year. The 

Iraqi government hopes to double its 

known oil reserves, which today are 115 

billion barrels. Today Iraq produces 

approximately 2.5 million barrels per day. 

Following the invasion of Kuwait in 1991, 

Iraq ceased exploration and drastically 

cut oil exports. The search was oficially 

opened by a ceremony in the presence 

of H.E. Hussein Shahristani, Minister of 

Oil of the Republic of Iraq, at the oil production 

site Al-Garraf near Nasiriyah, 

350 km south of Baghdad. 

Iraq 

Shipments to Iraq 

Information of our NUMOV Member M.G. International Transports GmbH 

Update on the current situation in Iraq 

I.) NEW REGULATIONS AT UMM QASSR PORT: Umm Qassr Port has announced a new regulation for containers. 

According to this regulation, all empty containers have to leave the port within a period of 2 weeks, 

otherwise the port will put the containers on auction. This is in particular important for shippers own containers. 

II.) TURKISH GATEWAY: We like to point out again that all cargo via the Turkish gateway should not show any 

marking with the name “Kurdistan”. During the last weeks several shipments and even complete ships 

have been rejected by the Turkish authorities due to this marking. 

III.) TRANSLATION OF CONTRACTS: We like to point out that particularly the Southern customs office Basrah 

is requiring a copy of the sales contract signed between the seller and the Iraqi buyer, translated in to Arabic, 

in order to approve the duty exemption letter. This applies also, even if the duty exemption certificate 

has already been approved by central customs. 

IV.) SECURITY SITUATION: Below a short report regarding the security situation in Iraq from the operation 

point of view: a.) NORTHERN IRAQ: The security situation in the Kurdish Governorates is still fine. Meanwhile 

a number of western European governments have lifted the travel ban for the Kurdish region. However, 

outside of the Kurdish controlled areas the situation is totally different and still unsafe. Within the 

Kurdish controlled areas we deliver with Turkish trucks to the final destination. Non-Kurdish controlled 

regions are still difficult. For Mosul, Kirkuk and all other destinations in the Central or South we have to 

tranship the cargo in our Zakho yard. In general we still recommend travelling with low profile 

escorts/scouts. 

b.) CENTRAL IRAQ: The Western route from Trebil to Baghdad (Sunni districts) is fine so far. Security has 

also improved. However, also for this route we still recommend to travel with low profile escorts / scouts. 

For Shia controlled destinations we have to take security measures. 

c.) SOUTHERN IRAQ: Since end of March 2008 the Southern region and in particular Basrah and Umm 

Qassr are under military control. All Iraqi ports –Umm Qassr is the main one- are under control of Iraqi 

and Coalition Forces. The main roads from Umm Qassr and Baghdad towards the south are still partly 

difficult and security measures have to be taken. 

d.) UMM QASSR PORT: Unfortunately the port situation has not improved. The Port is suffering due to fuel 

and electricity shortages. In addition, due to newly implemented security measures, the waiting time for 

trucks entering the port has increased. The official opening hours of the main gates are from 09.00 – 

18.00 hrs only. Current waiting time is approx as follows: Ro/ro vessels: 2-3 days; Container vessels: 7- 

10 days; Break bulk vessels: 7-10 days; The max draft is still between 8,5 to 10,0 meters only. 

V.) BORDER SITUATION: a.) Al Karameh / Trebil (Jordan/Iraqi border): Trucking rates from Jordan to Iraq are 

still increasing due to rising fuel prices. The border situation is okay. We are able to bring a dedicated 

number of our Iraqi trucks in to Jordan. 

B.) SYRIAN/IRAQI BORDERS: Iraqi trucks are available in a limited number. Service is running well 

so far but based on a low quantity. 

C.) HABOUR / ZAKHO (TURKISH / IRAQI BORDER): As already mentioned, shipments to Kurdish 

Governorates are running smoothly. The waiting time at the border has not really changed, in 

total it’s about 12-14 days for a round trip. 

d.) UMM QASSR PORT: Please see our comments under item IV.). 

E.) SAFWAN/ABDALI (KUWAIT / IRAQI BORDER): Due to the current security situation, there is not 

much commercial traffic via this border point, except for military convoys / supplies. 

German-Iraqi Investment Promotion and Protection 

Agreement signed 

During the recent visit of H.E. Prime Minister Nouri Al-Maliki, the bilateral Investment 

Promotion and Protection Agreement between Germany and Iraq was signed. 

The Agreement provides entrepreneurs from both sides with legal protection based 

on international standards. Other important matters are protection of property, free 

transfer of capital and reveneus and access to international arbitral jurisdiction in 

case of dissension. 

Investment Promotion and Protection Agreements are preconditions for the granting 

of guarentees of investment by the Federal Government. It is the first of its kind initialled 

by the Iraqi Government after the war in 2003. Germany signed 139 IPPA’s, 

126 of which came into force. 

The Investment Law No. 13, 2006 

NUMOV Members can order the copy of the Investment Law No.13, 2006 at 

numov@numov.de 


20 

Iraq 

First German delegation to Iraq after a long 

period of uncertainty 

H.E. Dr. Hanns Schumacher, German ambassador ret. 

in Iraq; Dr. Rudolf Gridl, representative of the BMWi 

and Elke Hoff, member of the German Parliament 

For the preparation of the economic 

delegation trip to Erbil/Iraq from 

October 14th-17th , organized by NUMOV 

on behalf of the German Federal Ministry 

of Economics and Technology, a “round 

table” hosted by Deutsche Bank AG took 

place on August 25th , 2008 in Berlin. 

Elke Hoff, Member of the German parliament 

and Member of the Board of 

NUMOV and the 

German Orient- 

Foundation, 

thanked the Federal 

Ministry of 

Economics and 

Technology 

(BMWi) for its initiative 

for a German 

Delegation 

to Iraq in these 

times of better circumstances referring to 

the security situation and economic 

development. 

She not only introduced the keynote 

speaker, H.E. Dr. Hanns Schumacher, 

who was the German ambassador in 

participants of the Iraq Round Table 

by Sebastian Sons 

Iraq from September 2007 until August 

2008, but also underlined her personal 

experiencesome weeks ago when she 

visited Iraq. Hanns Schumacher gave a 

detailed account of the current political 

and economic situation in Iraq. He 

described the security situation as stabilized, 

especially in the Northern parts of 

Iraq like Erbil and pointed out the excellent 

opportunities for German companies 

of all branches, because Germany has 

traditionally enjoyed a very positive 

image in this region and could create a 

counterweight against the influence of 

the United States, Russia, Turkey, South 

Korea, India and China. 

He mentioned that the Iraqi government 

was democratically elected and is therefore 

a good partner for trade and economic 

relations. Furthermore, he said 

that the Iraqi army has done a lot in the 

participants of the Iraq Round Table 

past months to improve its quality. 

Finally, he gave a positive forecast for 

Iraq highlighting the positive development 

of the economic and infrastructural 

situation, the decline of national debt 

because of high oil prices and the economic 

growth of approximately 5 per 

cent this year. 

Afterwards, Dr. 

Rudolf Gridl, 

representative 

of the BMWi, 

gave an overview 

about the 


Elke Hoff, member of the German Parliament and H.E. 

Dr. Hanns Schumacher, German ambassador ret. in 

Iraq 

delegation to Iraq and pointed out the 

importance of such a journey, not only 

for German companies but also for the 

stability and development of one of the 

most important countries in the Near and 

Middle East. He described in detail the 

planned program including the visit the 

economic fair in Erbil and supported the 

statements of Dr. Schumacher about the 

secure situation especially in Erbil. 

New projects proposed for 

the Iraqi economy 

The office of the Iraqi government 

spokesman Dr. Ali Al-Dabbagh has 

announced that the Council of Ministers 

has decided to give the goahead 

for two new important economic 

projects. Firstly, a deal to the 

value of 7 million Euros has been 

struck with a German company for the 

purchase of printing machines for 

Iraqi passports. Secondly, three 

(reportedly German) companies specialising 

in the building of railways are 

to be invited to buy railtracks to renovate 

the Iraqi railways.

Iraq 

Erbil - A Gateway for Business in Iraq 

Under the new Iraqi constitution the 

Kurdistan Regional Government 

(KRG) has executive powers throughout 

the three Governorates (Erbil, Sulaymaniyah 

and Dohuk) that comprise the 

Kurdish Region of Iraq. The capital and 

seat of the Kurdistan Regional Government 

is the city of Erbil, a city known 

locally as Hawler. 

Since 2003, the Kurdistan region has 

been the gateway to doing business in 

the rest of Iraq. For companies that wish 

to enter the Iraqi market, Kurdistan provides 

a secure and stable environment 

to start their operations. 

The region has two new international airports 

in Erbil and Suleimaniah with 

over 80 direct flights per week to and 

from Vienna, Frankfurt, Stockholm, Ams- 

EINLADUNG 

Deutsche Unternehmerdelegation 

vom 14. bis 17. Oktober 2008 

in den Irak / Region Erbil 

im Auftrag des Bundesministeriums für Wirtschaft und Technologie. 

Der Nah- und Mittelost-Verein e.V. führt im Auftrag des Bundesministerums für 

Wirtschaft und Technologie eine branchenübergreifende Delegationsreise 

deutscher Unternehmer in den Irak (Region Erbil) durch. Die Irakische Wirtschaft 

wächst kontinuierlich (Prognose für 2008: +7,5%), die Ölproduktion hat 

das Vorkriegsniveau von ca. 2,6 Millionen Barrel pro Tag erreicht. 

Alle Infrastrukturbereiche (Energieversorgung, Wasserver- und Abwasserentsorgung, 

Straßen- und Wohnungsbau, Gesundheitsbereich, Tourismus) 

benötigen weitere umfassende Investitionen. Der neu eröffnete Flughafen in 

Erbil soll um einen Industrie- und Gewerbepark bereichert werden. Auch gilt es 

Landwirtschaft und die Nahrungsmittelindustrie zu modernisieren und moderne 

Kommunikationssysteme aufzubauen. Neben dem weiteren Ausbau der 

regionalen Infrastruktur (zum Beispiel Brücken und Autobahnen) wird auch der 

Aufbau von öffentlichen Verkehrsmitteln zunehmend wichtig, um der wachsenden 

Bevölkerung gerecht zu werden. Ausländische Unternehmen sehen 

deshalb den Norden des Iraks und insbesondere die Region Erbil als Tor zum 

Rest des Landes. 

by Layla Raswol and Dr. Mohammed Al-Fakhri 

terdam, Dubai, Amman, and Istanbul. 

The Kurdistan region has seven universities, 

including the English language 

University of Kurdistan-Hawler in Erbil 

which opened in September 2006, and 

the American University of Iraq in Sulaymaniyah 

which started its first programme 

in autumn 2007. 

The city of Erbil is the largest city in the 

Kurdistan region of Iraq, and the fourth 

largest city in the country after Baghdad, 

Basra and Mosul.It has an area of about 

110 square kilometers, and a population 

of about 980,000, comprising two thirds 

of the Erbil Governorate’s population. 

The subregion within the Erbil Plain is 

agricultural, and has traditionally been 

seen as Iraq’s breadbasket. The moun- 

tain villages of Salahud Din and 

Shaqlawa to the north east are popular 

residential and tourist areas respectively. 

KRG has developed strategies and policies 

aiming at promoting residential, 

commercial, industrial and agricultural 

growth throughout the city and the 

region. A dozen mixed residential and 

commercial complexes are underway or 

nearing completion in 

Erbil. In recent years, 

the KRG has sought to 

increase private sector 

participation in development 

projects and 

attract further private 

investment across various 

economic sectors, 

including tourism, manufacturing, 

construction 

materials, trade and 

transportation. In order 

to attract inward investment 

KRG has outlined 

a set of policies and incentives targeting 

business companies in different sectors 

The Kurdistan Region investment law 

was passed in July 2006 and an Investment 

Board was created to manage and 

promote investment. The investment law 

is one of the most friendly to foreign 

investors in the entire Middle East. 

The full text of the investment law can be 

seen at www.krg.org. 

PROGRAMMSCHWERPUNKTE: 

• Besuch der Erbil International Fair 2008 

• Kontakt- und Kooperationsbörsen 

• Gesprächstermine mit Vertretern aus Ministerien und Organisationen 

• Firmenbesichtigungen 

Der finanzielle Eigenanteil der Teilnehmer beschränkt sich auf Flug-, Unterbringungs- 

und Verpflegungskosten. Die Kosten der Reisevorbereitung und – organisation 

übernimmt das BMWi. Für weitere Auskünfte stehen wir Ihnen jederzeit 

gerne zur Verfügung, ein detailiertes Programm übersenden wir Ihnen auf Anfrage. 

Rückmeldung an Fax: 030 / 206410-10 

� Ich/Wir habe/n Interesse an der Delegationsreise und bitte/n um Zusendung 

des Programms mit Angabe der Kosten und der Reiseanmeldung. 

Name, Firma, Anschrift, Telefon, Fax, E-Mail 


UAE 

Etihad increases its fleet with the purchase of 100 

aircraft from Airbus and Boeing worth 21bn US$ 

Etihad Airways has been experiencing 

a major boost in passenger figures 

during the first six months 

of 2008. With a recorded 

increase of a staggering 

41%, Etihad is well on its 

way to reaching its proclaimed 

target of 6 million 

passengers by the end of 

the year. 

Additionally, the Abu 

Dhabi-based carrier has 

placed firm orders with 

the European aircraft 

manufacturing company 

Airbus for fifty-five aircraft 

worth 12bn US$. The 

order consists of ten 

A380 aircraft, the world’s 

largest passenger airliner, and twenty 

A320 aircraft, with Etihad and Airbus still 

to agree on suitable driving motors for 

Nakheel, the Dubai-based company 

responsible for realizing the three 

Palm Islands, has announced that live 

testing of the Palm Monorail, which is to 

transport visitors on Palm Jumeirah, will 

commence this October. The Palm 

Monorail from Nakheel is the first 

monorail project in the Middle East and 

is 5.45 km long. The Palm Monorail will 

set global standards for the transportation 

industry. 

The monorail vehicles, which are 

engineered by railway system manufacturer 

Hitachi Ltd, are undergoing final 

22 

by Mirko Macke 

the airliners. The remaining airliners will 

be twenty-five A350 which will be pow- 

ered by Rolls-Royce Trent XWB engines. 

Etihad also has the option of purchasing 

another five A320, ten A350 and five 

inspection in Japan before arriving in 

Dubai. 

Nakheel signed a technical agreement in 

December 2006, in accordance with 

which the Osaka monorail team provided 

technical advice and training for staff 

during a six-month testing period. Construction 

work, which began in March 

2006, was completed in July 2008. The 

system will ultimately connect to the 

Dubai Metro following the introduction of 

Dubai's Roads & Transport Authority 

(RTA) Al Sufouh tramline. 

Once it is fully operational, the monorail 

will be capable of carrying more than 

40,000 passengers a day. When the 

Palm Monorail system is connected to 

the Dubai Metro in future, passengers 

will be able to leave Dubai Airport on the 

metro and continue through to Palm 


A380. In addition, the company also 

secured the rights to purchase an additional 

fifteen A320, fifteen 

A350 and five A380. 

Etihad has also struck a 

deal with Boeing involving 

fourty-five aircraft. 

The deal comprises thirty-five 

B787, with a driving 

motor still to be 

decided upon, and ten 

B777-300, which will be 

fitted with GE-90 motors. 

Furthermore, an option 

has been taken out by 

Etihad for another twenty-five 

B787 and ten 

B777. The flight carrier 

has also declared that it 

intends to buy options for ten more B787 

and five B777. Boeing will deliver the aircraft 

between 2011 and 2020. 

The Palm Monorail starts test stage in October 

by Faris Barakat 

Jumeirah, where they change over to 

the monorail system. 

The Palm Monorail is being developed 

by a consortium of leading international 

companies led by the Marubeni Corporation. 

The system is fully automatic and 

driverless, although an attendant will be 

on board at all times. The monorail will 

start to carry up to 2,400 passengers per 

hour per direction in four separate trains. 

At full capacity, this figure will rise to a 

maximum of 6,000 passengers in nine 

vehicles.

gegründet vom Nah- und Mittelost-Verein 

www.deutsches-orient-institut.de 

THEMEN 

DER KOMMENDEN AUSGABE 

Ph. D. Asmadi Mohamed Naim 

Islamic Banking, Finance and Takaful, 

Islamic Financial Contract 

MA Hanna Takeushi 

Japan, the land of the rising sun, 

opens its arms towards Islam? 

Folkmar Stoecker 

Islam in Singapur 

Prof. Rodney Wilson 

Development and Spread of Islamic Banking 

Prof. Dr. Volker Nienhaus 

Das System des Islamic Banking in Europa: 

Deutschland und England 

Assoc. Prof. Dr. Ahamed Kameel Mydin Meera 

Islamic Finance in Malaysia 

Jägerstrasse 63 D • D-10117 Berlin • Tel.: +49 (0)30-206410-21 • Fax: +49( 0)30-206410-29 

www.deutsche-orient-stiftung.de • www.deutsches-orient-institut.de • DOI@Deutsches-Orient-Institut.de

++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ 

Algeria 

Technical bids for resin plant announced 

Enip, the state-owned Societe Nationale de 

la Petrochimie, announced technical bids for 

the building of an urea formaldehyde resin 

plant at Enip’s production site at Arzew. The 

plant will be designed with a capacity of 120 

tonnes per day of urea formaldehyde concentrate 

(UFC) type 85. Within the production 

complex all necessary feedstocks are available. 

Technical bids must be submitted by 

October 18, 2008. After completion of the 

technical evaluation, which is estimated to be 

in the first quarter of 2009, commercial bids 

will be submitted. 

New gas discoveries in Algeria 

After nine significant gas discoveries wihin 

the past 12 months, Algerian State energy 

company Sonatrach detected three new gas 

deposits in the south of Algeria. In the Tinerkouk 

West-1 well, which is operated in parntership 

with Norway’s StatoilHydro, 9,000 

cubic metre per hour are produced. At the Tin 

Zaoutene-1 well, located in the Bourarhet 

South area, the gas streamed with 11,220 

cubic meter per hour. At the Reg Mouaded-1 

well in the Hassi Ba Hamou perimeter the gas 

flowed with 3,776 cubic meter per hour. This 

well is operated by Sonatrach and BG Algeria-Gulf 

Keystone. 

Bahrain 

Bid submitted for contract of project 

management of Bahrains’s Seef Plaza 

Three firms have submitted technical bids for 

management of the Seef Plaza project in 

Bahrain: the US' Hill International, Bahrainbased 

Projacs International and KEO International 

Consultants. Seef Plaza consists of 

two residential towers, one 35 and the other 

25 stories high. Located in the prestigious 

Seef district of Bahrain, it will add to the 

already impressive skyline of the Kingdom. 

The client is Eskan Bank, which is also the 

client for the BD1bn ($265m) Bandar al-Seef 

project, which is part of the North-shore 

development programme in Manama. 

Bahrain’s Crown Prince to approve airport 

master plan by end of summer 

Together with the Crown Prince of Bahrain, 

Sheikh Salman bin Hamad al-Khalifa, the 

government of Bahrain is to issue its final 

approval for Bahrain International Airport, 

ahead of the main tendering process for its 

redevelopment. Within the framework of the 

tendering process, the main construction 

contracts for expanding the airport will be 

awarded. The construction schemes will provide 

for another 5 million passengers per 

year, adding to the current capacity of 10 million 

passengers a year. Completion is sched- 

24 

uled for 2011. Also, an additional cargo terminal 

will increase the capacity of 347,000 

tonnes per year by 1 million tonnes. A company, 

run by private sector staff and the regulator, 

will be set up on a commercial basis, 

before the tendering process begins. 

Egypt 

Egypt to create single regulator for all 

financial services companies 

The five different financial services regulators 

in Egypt are to be consolidated into one single 

entity by the Investment Ministry. Among 

the subjects regulated by the new body are 

insurances, mortgages, capital markets, listed 

companies and leasing firms. Thus, the 

regulatory power of the Egyptian Insurance 

Supervisory Authority, the Mortgage Finance 

Authority, the Capital Markets Authority, the 

Cairo & Alexandria Stock Exchanges and the 

General Authority for Investment & Free 

Zones (Gafi) would be made redundant. 

Investment Minister Mahmoud Mohieldin will 

issue a statement on the new regulatory body 

and the preceding consolidation of the five 

different regulators in autumn this year. 

Iraq 

Huge reconstruction project in northeastern 

Iraq planned 

The Iraqi government has allocated US$ 

100m to reconstruct the Diala province 

including its villages. With its capital Baaquba 

57 km northeast of Baghdad, Diala 

province stretches from there as far as the 

Iranian border and covers an area of 17,685 

km² (6,828 square miles). Providing water 

for Diala province is the Diala River, a tributary 

of the Tigris. Diala’s main industry is 

agriculture, which is irrigated by the two 

rivers, and its main crop is dates. However, 

Baaquba is also known as the orange capital 

of the Middle East. 

Baghdad intends to award deals for refinery 

construction 

In order to reduce its dependence on oil 

imports, Baghdad will issue engineering contracts 

for two oil refineries to be constructed 

at Nasiriyah and Karbala. The new refinery 

at Nasiriyah – 300km south of Baghdad – will 

process 300,000 barrels/day, while the refinery 

at Kerbala – 50km south of the capital 

will process 150,000 barrels/day worth US$ 

2bn. Both projects are expected to be completed 

by 2012. 

Iran 

Iranian-Austrian cooperation in railway 

traffic 

According to the Iranian news agency IRNA, 


the Iranian Railway Company (RAJA) and the 

Austrian RAI have signed an MoU with the 

aim of intensifying their cooperation in railway 

traffic on July 6, 2008. According to the 

agreement, RAI will support RAJA by constructing 

a rail link between the cities Qayvin, 

Rasht and Astara. 

Strong growth in Iranian carpet exports 

recorded 

The president of the Iranian Carpet Company 

Seyed Jalaleddin Bassam declared that the 

carpet exports in the first three months of the 

current Persian year (beginning on March 21, 

2008) have risen by 5% compared to last 

year. Carpet exports in the current year have 

already amounted to US$ 71m. He added 

that in the last year, carpet exports have 

reached a total value of US$ 398m. 

Iran and Ecuador signed a MoU Treaty 

The news agency IRNA announced that Iran 

and Ecuador have signed a treaty on Saturday 

to intensify their business relationship in 

the areas of agriculture and fish production. 

According to the MoU, direct investments 

from both countries should immediately be 

pumped into agriculture. 

TCI Shares to the values of 2.2 bn USD 

sold in 8 minutes 

The chief of the Iranian share-holders stake 

company Ali Sahrael announced that 5% of 

shares of the IRN Telecommunication (TCI), 

were handed over to the stock market for 

sale. Shares with a face value of 2.2 bn USD 

were sold in the space of eight minutes. 

Iranian help for German investment 

Iran will offer more protection and financial 

security to German investments in Iran with 

priority to be given to small and medium 

enterprises. Vice Foreign Minister H.E. Mehdi 

Safari is soon to travel to Germany to discuss 

future cooperation. 

Jordan 

Jordan plans to build cross-border rail 

project with foreign help 

As a follow-up measure to the 2003 meeting 

of 13 Arab countries within the framework of 

the Economic and Social Commission for 

Western Asia, Jordan plans a US$ 6bn railway 

project. The railway line is to connect the 

country’s only port Aqaba with Zarqa, the 

Iraqi industrial city. Although Amman has 

already allocated US$ 494m to the project 

and has also set up a steering committee, the 

project still lacks roughly US$ 5.5bn in funding. 

The financial difference is to be covered 

by donors. Amman intends to export crude oil 

and other products via Aqaba. The Jordanian 

Minister of Transport, Alaa Batayneh, pointed 

out that the rail project will also be used for 

passenger services.


Kuwait 

Kuwait uses water to extract oil through 

pilot water facility 

The Kuwait Oil Company (KOC) intends to 

install a new pilot water injection plant in the 

Dharif Marrat oil field, one of the few Kuwaiti 

fields left undisturbed by the Iraqi invasion in 

1990. The winning company will design, 

install and operate the water injection plant 

by using water to counteract the oil well’s 

declining pressure. Once the feasibility of the 

plant is proven, further plants could be developed. 

The duration of the project will be two 

years after which KOC will decide whether it 

will pursue this new technology. 

Lebanon 

Banque Audi closes $380m loan 

Banque Audi has arranged a US$ 380m loan 

for the Syrian Cement Company – a subsidiary 

of building materials group Lafarge. In 

this relationship, Audi has closed one of the 

largest private sector financings in the Levant 

region. However, not only Audi is involved in 

the loan, there are also 13 other banks, 

among them Commercial International Bank 

and Ahli United Bank of Egypt, Danske Bank 

of Denmark, Byblos Bank of Lebanon, Syria 

Gulf Bank, and BNP Paribas. With the loan, a 

new cement plant in Syria will be built that will 

produce 2.9m tonnes of cement per year. 

Production will start in 2010. 

Libya 

Ras Lanuf upgrade will exceed budget 

Due to an increase in engineering, procurement 

and construction costs the Ras Lanuf 

refinery upgrade will cost more than the projected 

US$ 2bn. UAE’s TransAsia Gas and 

Star Petro Energy agreed in mid-July to enter 

into a joint venture with Libya’s National Oil 

Company, taking a 50 percent share in the 

country biggest export refinery. Upgrading 

will lead to a capacity increase from 

220,000b/d to 240,000b/d as well as diversifying 

output to more middle distillate products, 

such as kerosene and diesel for 

Europe. 

More oil found in Libya 

In 2005, the Canada-based, international oilgas 

exploration and production company 

Verenex Energy won exploration and development 

rights in the Ghadames basin, 

approximately 250 km southwest of Tripoli. 

Now, the investment is being paid back with 

oil flow revenues at a rate of 1,400b/d from 

the Al-Momnyat formation and 1,535 b/d 

from the lower Acacus formation. Verenex 

has also drilled six exploration and two 

appraisal wells in the basin, producing a total 

of more than 75,000 barrels of oil equivalent 

a day, indicating a potentially large discovery. 

In the second stage, Verenex will apply to the 

Libyan National Oil Corporation for permission 

to develop a production facility base. 

Morocco 

Morocco’s biggest mobile company 

increases profits by 14 percent 

Increasing its profits by more than 14 percent 

to around MD 4,5bn (US$ 610.5m), the 

Moroccan monopoly land-line telecoms operator 

Maroc Telecom managed to increase its 

profits more quickly than its revenues, which 

grew by 10 per cent to MD14.3bn in the first 

half of the year. However, growth rates in 

Morocco’s telecom sector lagged behind 

other North African and Middle Eastern markets. 

Maroc Telecom increased its customer 

base by 21 percent, adding up to now 

14.2 million customers. Its competitor Meditel, 

partially owned by the Spanish Telefonica 

and Portugal Telecom, has yet to publish its 

figures. 

Wind energy gets new boost in the Kingdom 

through French-Emirati joint venture 

Taqa, Abu Dhabi’s National Energy Company 

and Theolia of France are to develop renewable 

energy within the framework of a strategic 

partnership. Both partners will bid to construct 

and operate a 300MW wind farm in Tarfaya. 

Taqa’s CEO, Peter Barker-Homek 

pointed out that this will be the company’s 

first venture into renewable energy. Additionally, 

Taqa and Theolia agreed to study further 

wind farm sites. Taqa owns and operates a 

1,356MW thermal power station in Morocco, 

whereas Theolia already runs a 50MW wind 

farm in the Kingdom. 

Oman 

BankMuscat is improving its position 

considerably 

BankMuscat is the largest financial institution 

in Oman by a wide margin with consolidated 

assets exceeding US$ 10.9bn and a share of 

roughly 40 percent in the Omani banking 

market. In second place is the National Bank 

of Oman with a share of roughly 20 percent 

of the market. BankMuscat has been listed 

on the London Stock Exchange since October 

2005. 

Palestinian Territories 

West Bank and Gaza will receive mobile 

phone services from Wataniya Palestine 

After delaying the allocation of the spectrum 

to the West Bank’s second mobile phone 

license holder for more than 18 months, 

Israeli authorities have given the green light 

for Wataniya Palestine to provide mobile 

phone services in the West Bank and Gaza. 

Wataniya of Kuwait holds a 57 percent share 

in Wataniya Palestine. The other 43 percent 

are held by the PA’s sovereign wealth fund, 

the Palestine Investment Fund. Having won a 

licence in an auction in December 2006 with 

a bid of US$ 354m, Wataniya Palestine will 

pay a licence fee to the PA and will launch its 

services before the end of this year. 

Qatar 

Qasco enters talks to revive financing 

deal 

After a failed US$ 1.3bn project finance deal 

designed to refinance existing debt and fund 

expansion, Qatar Steel Company (Qasco) is 

holding preliminary negotiations with international 

banks to resuscitate the failed deal. 

Qasco is reported to have held talks with 

Standard Chartered Bank, HSBC and Calyon. 

However, its initial financial advisor Ernst 

& Young, which Qasco had later removed, 

has not yet been replaced. Qasco hopes that 

by postponing the project until 2009 the debt 

market might be recovered and the company’s 

margins could be improved. The existing 

finance package was financed at 80-100 

basis points over the London interbank 

offered rate (Libor). 

Mega Projects in Qatar 

The construction boom in Doha continues, 

espsecially for high-rise buildings. Contractors 

have been approached the 510-metretall 

Qatar National Bank headquarters building 

and a 100-floors tower planned by Abu 

Dhabi's Al-Jaber Group. 

This marks good news for the construction 

industry aiming to develop Doha’s skyline 

and consequently establish an even more 

competitive finance centre in the region. 

Saudi Arabia 

Saudi-Arabia to diversify its tourism sector 

Saudi Arabia, since ancient times a destination 

for religious pilgrims, wants to attract 

tourists interested in the Kingdom’s wide 

range of historical monuments. For this purpose, 

Saudi Arabia will issue special visas. 

Furthermore, Saudi Arabian citizens are to 

be persuaded to spend their holidays in their 

home country. The country’s tourism authority 

is asking for foreign know-how in the 

tourism sector. There are extensive hotel 



projects planned within the boundaries of the 

Kingdom, exceeding a triple-digit million Dollar 

range, providing opportunities for foreign 

suppliers. Additionally, the archaeological 

site of Al-Hijr, a remnant of the civilization of 

the Nabataeans and approximately 2000 

years old, has recently been promoted to a 

World Heritage Site by the UNESCO. 

Saudi Arabia’s BinLadin Group could 

acquire large areas of land in Indonesia 

for US$ 4.3bn 

The BinLadin Group is considering investing 

US$ 4.3bn in agricultural projects in Indonesia 

within the next 15 years. According to 

Alwi Shihab, Indonesia’s special envoy for 

the Middle East, the Bin Laden Group is to 

buy at least 500,000 hectares of land. Bin 

Ladin Group Board member Abu Bakr S. Al- 

Hamed said that the focus was likely to be on 

rice and other commodities. The Group has 

however said that the company will probably 

commission further studies with regard to the 

feasibility of the project 

New loan by Saudi Fransi 

International Banks Calyon, Intesa Sanpaolo, 

RZB, Sumitomo Mitui Banking Corporation 

and WestLB were appointed to syndicate 

a new loan for the Saudi Fransi Bank. The 

US-$ 300 million loan is split in a three-year 

tranche with 70 basis points and a five-year 

tranche with 100 basis points over the London 

interbank offered rate (libor). Up to 10 

banks are expected to participate. Lenders 

may commit to either tranche or both tranches. 

The high margins show the change in the 

market, as Saudi Fransi paid only 35 basis 

points for a US-$ 500 million loan over five 

years in June 2005. 

Syria 

Airbus deal with Syria 

H.E Dr. Yarub Bader, the Syrian Minister of 

Transport, announced a plan to rent and purchase 

Airbus planes for the state owned Syrian 

Arab Airlines company. The plan involves 

renting two planes this year to cover the 

capacity deficit during the period of the Hajj 

and the New Year festival, four planes in the 

year 2009 and ultimately purchasing fourteen 

planes of different size in the time period 

2010-2018. The deal will be signed during 

the visit of H.E. President Sarkozy, President 

of France, which is expected to take place in 

the next weeks. 

Tunisia 

Tunisair extends fleet with US$2bn Airbus 

order 

By placing an order with Airbus worth up to 

26 

US$ 2bn, national carrier Tunisair wants to 

increase its fleet by three A350-800, three 

A330-200 and 10 A320 aircraft. According to 

Nabil Chettaoui, president and CEO of Tunisair, 

the new A330s will aid the airline in 

expanding into the long-haul market to North 

America and Asia. The A320s are to replace 

some aircraft in Tunisair’s fleet and will be 

used for short-haul routes into Europe, Africa 

and the Middle East. In addition to the new 

aircraft, Tunisair already has 12 A320 in service. 

UK’s Petrofac starts gas production in 

Algeria 

On August 8, 2008, the first commercial gas 

began to flow from the Chergui field in 

Tunisia, as British Petrofac announced. The 

gas will be sold to Tunisia’s state power company 

Societe Tunisienne de l’Electricite & du 

Gaz (Steg). 20 million cubic feet per day will 

be produced from two wells and piped to 

Steg’s facilities at Ain Turkia. For at least four 

years production is expected to be at rates of 

20 million cubic feet per day, but Petrofac 

hopes to extend the ultimate life of the field as 

well as the output. 

Turkey 

World Public Health Congress to be held 

in Istanbul next year 

Istanbul is to play host to the twelfth World 

Public Health Congress, which is scheduled 

to be held between April 27 and May 1, 2009. 

The conference, which has a budget of four 

million dollars, is to be opened by President 

Abdullah Gül and is expected to be attended 

by several thousand international participants 

and visitors from some 193 different countries. 

Halbank records rise in profits 

Halbank achieved YTL 640 million in profits in 

the first half of 2008, an increase of some 

30% on the same period in 2007. The bank, 

which is Turkey’s second largest public bank, 

far outstrips many of its competitors in 

deposits and assets. 

UAE 

Sharjah to increase its power supply 

though new Hamriya power plant 

The largest power plant in the Sharjah will be 

built in Hamriya. Awarding the engineering, 

procurement and construction contract for 

the Hamriya power plant to General Electric 

and SNC Lavalin of Canada, the Sharjah 

Electricity & Water Authority (Sewa) issued a 

letter of intent to the group and ordered three 

gas turbines from GE. Having a capacity of 

1,900MW, construction of the plant will be 


completed in three phases, with the first turbine 

to come into use in 2010. Altogether, the 

Hamriya site will boast a total capacity of 

2,300MW, once the new power plant is completed. 

Additionally, Sewa is negotiating the 

construction of a 40-million-gallon-a-day 

(g/d) desalination plant using multi-effect distillation 

technology at Hamriya. Talks are 

reaching conclusion there. Among the bidders 

are France's Sidem, Italy's Fisia 

Italimpianti and the US' Aquatech. On top of 

this, technical evaluations of six bids for an 

80 million-g/d reverse osmosis desalination 

plant at the site are also underway. The 

power plant construction scheme in Sharjah 

is part of an effort to keep up with an annual 

increase of the demand for electricity of 9 

percent. 

GE to supply Emirates Aluminium 

Emirates Aluminium (Emal) has made significant 

steps towards increasing its output by 

awarding a US$ 500m contract to General 

Electric. The contract will provide supply of 

equipment to Emal’s production facility located 

near Al-Taweelah in Abu Dhabi. Supplying 

gas and steam turbines, heat recovery steam 

generators and condensers are the main 

prerequisites in the first phase of the project. 

GE will contribute to an installed capacity of 

2,000MW of electricity which could be used 

in the production of 700,000 tonnes of aluminium 

a year. In a second phase, total production 

capacity will be increased by 1.4 mln 

tons. The second phase is embeded with a 

total increase production capacity. 

Air Arabia receives award 

Skytrax has awarded the Sharjah-based 

budget carrier Air Arabia the World Airline 

Award for „Best low-cost airline in the Middle 

East“ for the second year running. 

Yemen 

Plans for Al-Noor project and bridge linking 

Yemen and Djibouti are crystallising 

The development of the Al-Noor City project 

which is to be situated at a bridge crossing 

the strait between Yemen and Djibouti, 

involves many ambitious plans. Approaching 

local contractors to ascertain their interest in 

the $300bn project, the developers have 

declared that MoUs between the two countries 

have been signed. Dean Kershaw, project 

manager of American L-3, said that land 

has already been allocated and free trade 

zones are to be established. A 27-kilometrelong 

bridge is to be constructed between the 

Arab Peninsula and the African continent, 

amounting to US$ 20 – 25bn in realisation 

costs. As a next step, detailed designs are to 

be commissioned. Also, as further incentives 

for investments, a port, refineries, cement 

plants and an airport are envisioned.

News in brief 

Saudi Arabia founds new investment 

company 

The Saudi government has given permission 

for the foundation of a new Saudi corporation 

with assets to the value of 20 billion Saudi- 

Rials (the equivalent of some 5.3 billion 

USD). The new Saudi Arabian Investment 

Co. or Sanabil Al Saudis, as it is known, 

which is entirely under the ownership of the 

state Public Investment Fund, will invest in 

bonds, real estate and raw materials. 

US$ 300bn to be spent for upgrading the 

gas sector 

Arab oil-producing states have neglected 

modernization and expansion of their oil producing 

facilities in the last years. To counter 

this development they plan to upgrade facilities 

in the area of gas production, which will 

also serve to feed domestic demand. These 

schemes will cost as much as US$ 300bn. 

With the progress of industrialisation and an 

ongoing construction boom, there is also a 

huge increase in demand for gas in the 

states of the Near and Middle East, particularly 

in the states of the Arabian Peninsula. 

Exchange rates 

28 

News in brief 

Growing population figures as well as a still 

indifferent attitude towards ecologic issues 

are adding to the surge in demand for energy 

within the region. 

Near and Middle East prepared for 

decline in demand for petrochemical 

products 

The Gulf states as well as the Maghreb 

states have massively expanded their petrochemical 

industry, leading to potential 

excess capacities. According to analysts, 

market prices in the petrochemical sector 

might fall within the next two years. However, 

Arab countries are still in a favourable 

position, owing to their cheap supply of raw 

materials. China, also expanding its capacities 

in the petrochemicals sector, has the 

advantage of being itself the biggest consumer 

of petrochemical products. 

Morocco to be represented at AUTO- 

MECHANIKA 

The Moroccan Centre for the Promotion of 

Exports (CMPE, Centre Marocain de Promotion 

des Exportations) has announced that 

several Moroccan companies are to partici- 

Country ISO-Code Currency Exchange rate in Euros 

Afghanistan AFA Afghani 1,44 

Algeria DZD Algerian Dinar 1,11 

Bahrain BHD Bahraini Dinar 178,89 

Cyprus CYP Cyprus Pound 169,64 

Egypt EGP Egyptian Pound 12,60 

Iran IRR Iranian Rial 0,007 

Iraq IQD Iraqi Dinar 0,06 

Israel ILS New Israeli Shekel 19,24 

Jordan JOD Jordanian Dinar 95,25 

Kuwait KWD Kuwaiti Dinar 251,94 

Lebanon LBP Lebanese Pound 0,045 

Libya LYD Libyan Dinar 55,68 

Morocco MAD Moroccan Dirham 8,77 

Oman OMR Omani Rial 175,23 

Pakistan PKR Pakistan Rupee 0,88 

Qatar QAR Qatari Rial 18,53 

Saudi Arabia SAR Saudi Rial 17,98 

Syria SYP Syrian Pound 1,32 

Tunisia TND Tunisian Dinar 54,97 

Turkey TRY New Turkish Lira 57 

U.A.E. AED Emirati Dirham 18,36 

Yemen YER Yemeni Rial 0,34 

Exchange rates reported by Commerzbank AG - Frankfurt 

(No liability assumed). Each rate is valid for 100 currency units. 

Last update: September 2008 


pate in the 11 th AUTOMECHANIKA fair in 

Frankfurt, one of the key meeting points for 

representatives of the automobile industry. A 

Maroccan stand is to occupy an area of 

80m². It is expected that some 160,000 specialist 

visitors and 4,500 exhibitors from 

more than 70 nations will attend the event, 

which is to last from the 16th to the 21 st September 

2008. Those who are interested in 

receiving a list with the names of the Maroccan 

participants are requested to contact 

NUMOV. 

2nd Edition MedinAlgeria 

Under the patronage of Cherif Rahmani, 

Algeria’s Minister of Planning and Tourism, 

and Dahou Azouane Ould Kablia, Minister 

Delegate to the Algerian Minister of State, 

Minister of Interior and Local Community, the 

second edition of MEDINALGERIA, the 

Salon International of the Environment and 

city facilities will take place in Algiers from 

13 to 16 December 2008. It will cover a wide 

range of themes, including: land-use planning, 

urban facilities, local utilities, water and 

environment. 

For further information, please visit: 

www.medinalgeria.com. 

“Länderreport Türkei. Brücke 

zwischen den Kontinenten“ 

Collecting articles from the Frankfurter 

Allgemeine Zeitung and the 

Frankfurter Allgemeine Sonntagszeitung 

between 1993 and 

2008, “Länderreport Türkei. Brücke 

zwischen den Kontinenten“ is an 

in-depth country report of Turkey. 

With more than 10,000 articles, the 

CD-ROM covers culture and history 

as well as the political, economic 

and social progress of Turkey. 

The “Länderreport Türkei. Brücke 

zwischen den Kontinenten” can be 

ordered for EUR 29.90 at 

www. Faz-archiv.de/cdrom, 

by phone: +49 06147/6 97 or 

at bookshops (ISBN 978-3-89843-981-7). 

The CD-ROM is suitable for PCs with a 

Windows operating system (as of 

Win98).

NEAR AND MIDDLE EAST 

ECONOMIC HANDBOOK 

2008 

Data and facts from a reliable source 

NUMOV 

Young Diplomats at the NUMOV Office in Berlin 

Areception for NUMOV 

Members was held 

at the NUMOV office 

in Berlin on Tuesday, 

August 11, 2008 for a 

group of fourteen young 

diplomats from the Middle 

East and North Africa. 

The group was visiting 

Germany to take part in 

the Federal Foreign Office’s 

Training Programme 

for International 

Diplomats. The Pro- 

f.l.t.r.: Sebastian Sons, Head of Research Unit of German 

Orient Institute; Abdurrahim Gülec, Deputy Managing 

Director of NUMOV and Khaled H. Aref, Ministry 

of Foreign Affairs Cairo-Egypt 

by Peter Schmitz 

List of the young diplomats 

Salma Atef Abdel Salam, Egypt; Khaled M. Hossam El-Din Aref, Egypt; Husain Makhlooq, Bahrain; 

Mugeeb Othman, Yemen; Fadi Qwayder, Jordan; Abdulrahman Al-Shehab, Kuwait; Brigitta Al-Ojeil, 

Lenanon; Mohammed Al-Bahrani, Oman; Mohamed Aasim Al-Kordi, Palestine; Ian Martin, Sudan; 

Ismael Bassel Ayzouki, Syria; Ihab Ahmed, Syria; Ali Ben Said, Tunisia; Heba Al-Jenabi, United Arab 

Emirates 

gramme is designed to exchange experiences, 

compare points of view and identify 

common interests and positions. 

With the reception, NUMOV broadened 

this approach and brought the diplomats, 

who are at the beginning of their career, 

together with members of the NUMOV 

Junior Section. 

Prior to the reception at the NUMOV office, 

the group visited the European 

Publisher: 

German Near and Middle East Association/ 

Nah- und Mittelost-Verein e.V. (NUMOV) 

Jägerstr. 63 A/D, 10117 Berlin 

phone: +49 (0)30 - 206410-0 

FAX: +49 (0)30 - 206410-10 

E-Mail: numov@numov.de 

Internet: www.numov.de 

To order: 

Contact the German Near and Middle East Association by fax or email 

Fax: +49 (0)30 - 206410-10 

Email: numov@numov.de 

� I hereby order copies of the Near and Middle East Economic 

Handbook 2008 at a price of 69 € plus 7 € postage and handling per 

copy (International Airmail plus 25 € postage). 

� Association members of NUMOV receive one free copy of the Middle 

East Economic Handbook 

� I have transferred the full amount to account number 9291261 at 

Deutsche Bank, bank identification code 10070024 

(Shipping on receipt of payment). 

(Name, Company, Address, Phone, Fax, Email) 

Comission and the NATO 

in Brussels. The group 

also participated in seminars 

on German and 

European history, the 

German political and 

economic system, as well 

as other seminars on 

diverse topics of international 

interest. Further 

items in the 5-week-programme 

include visits to 

a wide variety of German 

companies and institutions 

in Hamburg, Erfurt 

and Jena. 

Oliver Bali, Head of Regional Managers - NUMOV; 

Folkmar Stoecker, Ambassador Ret., Programme 

Director - Training for International Diplomats 


Business enquiries 

from the Near and 

Middle East 

30 

Jörg Seifert 

Rechtsanwälte - Advocate 

Beratung und rechtliche Umsetzung von Investitionsvorhaben 

in den 

Vereinigten Arabischen Emiraten 

P.O. Box 8867, Dubai, VAE 

Tel.: 00971-4-2628 222 

Fax: 00971-4-2628 111 

www. dubai-lawyer.com 

seifert@dubai-lawyer.com 

Business page 

business page for our member firms. Size: 40 x 50 mm. To cover costs, 60 EURO plus VAT 

will be charged per depiction and per issue for three consecutive editions. 

Abu Dhabi Medical Industries 

Contact: Dr. K. Kesavan 

P.O. Box: 5211, Abu Dhabi, UAE 

Tel.: +971-2-5513422 - Fax: +971-2-5513423 

E-Mail: Kesavan@amilab.ae 

Web: www.amilab.ae 

is a manufacturer of laboratory, medical, edu-cational and 

other furniture in Abu Dhabi. 

AMICA Building Materials Trading 

Contact: G.A. Fidani 

P.O. Box No. 3129, Dubai, UAE 

Tel.: +971-4-2688987 - Fax: +971-4-2688983 

E-mail: amica@emirates.net.ae 

Web: www.amicadubai.com 

is offering a huge variety of building materials. 

ASCO 

Contact: Khaled Nasr 

P.O.Box 1099, Kuwait City, Kuwait 

Tel.: +965-9663935, E-mail: asco9@qualitynet.net 

is a construction company and is looking for Caterpillar 

Heavy Equipment Parts. 

Billur Dokum 

Contact: Mete Ulke 

Konsan Camgoz Sok. No:5, Karatay, 42050 Konya 

Turkey 

Tel.: +90 3323462369 - Fax: +90 332 3462368 

E-mail: info@billurdokum.com.tr 

Web: www.billurdokum.com.tr 

produces grey iron, ductile iron and wear resistant steel 

castings for machine industry, hydraulic pump industry, 

and automotive industry and is interested in selling those 

products. 

Britex Bar 

Contact: Erez Bar Haim 

8 Achad Ha’am St., Tel Aviv 

Tel.: +35160661 - Fax:+35160047 

E-Mail: erez@britex.co.il - Web: www.britex.co.il 

exports fabrics and fashion, invests in solar energy and 

real estate. 

CanCan IT Solutions 

Contact: Rias AbdulMajeed 

Nebil Öztürk Consult 

Diplom-Kaufmann 

Global Cross Management 

Management Consulting 

Project Management 

International Trade & Services 

Fritz-Meyer-Weg 41 

81925 München 

Tel.: 0049 89 95789860 

E-Mail: oeztuerk.n@t-online.de 

CanCan IT Solutuons, P.O. Box: 112510, UAE 

Tel.: +97143515121 - Fax: +97143516125 

E-Mail: rias@cancanit.com 

Web: www.cancanit.com 

is an IT solutions company and is offering a lot of services 

in this sector. 

Gulf Leader General Trqading-F.Z.E. 

Contact: Wang Riyuan 

Ajman Free Zone office building No. A1-610 

Tel.: +971-6-7425268 - Fax: +971-6-7425365 

E-Mail: leader_sd@hotmail.com 

Web: www.leadertrading.com 

is active in the sectors: auto car parking system, elevator, 

escalator and footway. 

H20 Energies Sarl 

Contact: Mohamed Akhmis 

Hay Salmia II Rue 23 No. 19, Casablanca, Morocco 

Tel.: +212 60 72 32 93 - Fax: +212 22 56 40 56 

E-mail: h2o-energies@laposte.net 

wants to be agency for German companies with the 

following products: photovoltaic plants, wind plants, 

biogas plants, water treatment plants, sewage treatment. 

Hamid Nobakhti 

Contact: No 349, Taleghani Ave., Teheran, Iran 

Tel.: +98-21/88812066-70 

E-mail: hamid@nobakhti.com 

wants to import MAN-oil filters. 

IMPRESSIONS Amco Global Marketing (FZC) 

Contact: Eid Muhammad Kamran 

B1-21, Sharjah Airport International Free Zone, 

P.O. Box No: 8312, Sharjah, UAE 

Tel.: +971-6-5571767 - Fax: +971-6-5571768 

E-Mail: eid@impressions.ae 

Web: www.impressions.ae 

designs, manufactures and supplies a wide range of 

promotional products and uniforms for example hotel 

uniforms, school uniforms, hospital uniforms. 

Kumru Ltd. 

Contact: Zeynep Sahin 

Yeni Camlica Mah. Mimar Sinan Cad. Ibrahim Sk.13 , 

34779 Istanbul, Turkey 

Tel.: +90 216 4716428 - Fax: +90 216 4716429 

E-mail: zsahin@kumrultd.com 

Web: www.kumrultd.com 

is offering the following products: injection pipes, brake 

hoses and steering system hoses. 

LAB Electronics Co. Ltd. 

Contact: Jennifer Lin 


OXIN Deutschland GmbH 

Contact: Jutta Alliger 

Bertha-von-Suttner-Strasse 10 

65189 Wiesbaden 

Germany 

Tel.: 0049 611 360 36 32 

Fax: 0049 611 360 36 34 

E-Mail: jutta.alliger@oxin.eu 

is looking for international 

steel producers/vendors 

- legal, technical and business consulting services in regulated network 

industries (telecoms, mobile, internet, energy, postal services, IT) 

- support for operators, service providers and regulatory authorities as well as 

other administrative bodies in markets opening up to competition 

- extensive experiences in middle sized and large projects 

- long term experience in other areas of legal consulting 

(business law, administrative law) 

- support for market entry and strategy development 

JUCONOMY, Graf-Recke-Str. 82, 40239 Düsseldorf, Germany, 

Tel: +49 211 6878880,Fax: +49 211 68788833; 

http://www.juconomy.com, e-mail: ruhle@juconomy.com 

In cooperation with our local partner IGB, Mr. Ahmad Alwajih, 

P.O. Box 28564 Abu Dhabi, UAE, Tel: +971-2-6660411, 

http://www.igb-engineering-consultancy.com 

7F.-1, No. 286-5, Sinya Rd., Cianjhen Dist., Kaohsiung 

City 806, Taiwan 

Tel.: +886-7-8153262 - Fax: 886-7-8153264 

E-Mail: labblues@ms27.hinet.net 

Web: www.labblues.trade-taiwan.org 

is a manufacturing company in Taiwan dealing with the 

CATV converter, remote control, amplifiers, modulators, 

demodulators. 

Magic Lands 

Contact: Joy Ilan 

Tel.: +971-4-3217222 - Fax: +971-4-3215959 

E-Mail: joy@magiclandsdubai.com 

Web: www.magiclandsdubai.com 

is dealing with free hold properties, buildings, hotels and 

plots in Dubai. 

Pakistan Steel Imports Co. 

Contact: Kamal Chobdar 

F13/1, Block 9, Clifton, Karachi, Pakistan 

Tel.: +92 21/5 37 21 84 - Fax: +92 21/5 37 21 85 

E-mail: chobdar@chobdar.com 

Web: www.chobdar.com 

is interested in importing flat-bar steel products in second 

or third quality; cold- and hotrolled, electroplated, primed 

steel plates, electric sheets and coils. 

Rayane Eurl 

Contact: Chouabi Kamal 

Tel.: + 213 7 70 96 28 65 

E-mail: eurl_rayane@hotmail.com 

is a company in the energy sector and wants to import 

equipment for service and repair of industrial transformers 

(high, middle and low voltage) also equipment for 

transformer oil service, laboratory analysis of oil and 

installation of transformers. 

Reetaj Technology & Technical Services (RTTS) 

Contact:Hazem Fakhoury 

4006, 11131 Amman, Jordan 

Tel.: +962 6 5607128 - Fax: +962 6 5657798 

E-mail: reetaj@batelco.jo 

Web: www.reetajtech.com 

its line of business is measuring/control instruments, 

safety, energy, water, heating, valves, filters. The activities 

are: Water leak detection, water auditing, flow & pressure 

testing, data logger field-tests, pipe tracing & mapping, 

leakage monitoring & alarming, sale & hire. 

Rouh Power & Engineering Company 

Contact: Mr. Jenson Cabral, Sales Engineer 

P.O.Box 26500, Safat-13125 Al Qibla, Kuwait 

Tel.: +965 2411050 - Fax: +965 2411051 

E-mail: info@powerandeng.com

Web: www.powerandeng.com 

is a company specialized in providing services and 

products to the Oil & Gas sector in Kuwait and is looking 

for agency for products. 

Saba Trading Est. 

Contact: Victor Saba 

P.O. Box: 925964 Amman 

Tel.: +9626-416-6264 - Fax: +9626-416-5835 

E-Mail: sabatrd@wanadoo.jo 

is trading with industrial and technical plant, Equipment, 

steel and metal pipes, plates, billets, wires and special 

sorts of steel also with special vehicles. 

SNC QABES COM 

Contact: Cherifi Ilyes 

Cité Makoudi II, Villa N°30. El-alia. Oued-smar 

16000 Algiers, Algeria 

Tel.: +213-21514909 - Fax: +213-21514908 

E-mail: qabes_com@yahoo.fr 

Web: www.qabes-dz.com 

is active in Computer sales & services, also in Networking 

and Troubleshoot. SNC QABES COM is looking for 

buying products and agency of products; is offering sale of 

products. 

Important information available on request: 

GERMANY 

� BMZ Konzepte 156 

Grundlagen, Schwerpunkte und 

Perspektiven der deutschen Entwicklungspolitik 

mit der Region Nahost/Nordafrika 

� Annual Report 2007 

Export Credit Guarantees of the Federal 

Republic of Germany 

� Half Year Report 2008 

Export Credit Guarantees of the Federal 


Business enquiries 

Sumam Energy 

Contact: Issam Mokrani 

83 Cooperative Les Vergers II, Birkhadem, Algeria 

Tel.: +213-770946500 - Fax: +213-21555128 

E-Mail: sumam.energy@yahoo 

is interested in buying a plastic processing machine. 

taher trading company 

Contact: Kasem Shikh Taha 

Katerji / P.O.Box 10197, Aleppo, Syria 

Tel.: +963 933200063 - Fax: +963 213213433 

E-mail: ka.taha@hotmail.com 

is an industrial and trading company producing cold drawn 

steel wire and trade in all kinds of steel. 

This company is interested in selling its products. 

Unionaire Group 

Contact: 3 rd Industrial Zone, 6 th October, 

Area 238-239, Giza, Egypt 

Tel.: +202-38 32 01 41 - Fax: +202/38 34 11 10 

E-mail: enas.fayed@unionaire.com 

Web: www.unionaire.com 

is searching for companies which buy air condition 

systems. 

Services for NUMOV members: 

� Annual Report 2007 

Export Credit Guarantees of the 

Federal Republic of Germany - Hermes 

Cover 

IRAQ 

� The Investment Law 

Law No. 13, 2006 

Reply to: FAX 0049 (0)30 206410-10 

We request that the indicated documents be sent 

to us: 

Our membership number: 

Member / Address: 

Saudi Arabia: a hub of 

business activity 

The Kingdom of Saudi Arabia is currently 

witnessing a boom in innovative business 

projects in the fields of industry, 

technology, and transport infrastructure. 

The most large-scale of these proposals 

is the SR130bn project, which King 

Abdullah recently launched at the King 

Abdullah Economic City (KAEC) in 

Rabigh. KAEC, which is being developed 

by the UAE real estate giant Emaar, covers 

a surface area of some 168 million 

square meters, and is subdivided into six 

main components: Sea Port, Industrial 

Zone, Central Business District, Resort 

District, Educational Zone and Residential 

Communities. The massive project 

His Highness launched covers all these 

various zones, and includes plans for 

international hotels, a biological complex, 

a technological centre, water and 

sewage projects, and a company for 

financing electricity. 

KAEC was founded some two-and-a-half 

years ago as one in a series of similar 

economic cities also founded in Hail, 

Madinah and Jizan. All together these 

cities are expected to draw more than 

SR 300 billion in investments and to create 

more than 1.5 million jobs. It should 

be pointed out that their purpose is not 

merely to be industrial and technological 

powerhouses – they are also supposed 

to include residential communities. All 

houses in the planned first residential 

community at KAEC, Bay La Sun Village, 

have been sold. The Village is also to 

includes schools, shopping centres, 

mosques, banks, and clinics in addition 

to the residential towers. 

Other recent and important Saudi Projects 

include a joint Saudi-German cooperation 

project between the Delegation 

of German Industry and Commerce 

(GESALO), the Saudi Ministry of Water 

and Electricity (MOWE), and the Saline 

Water Conversion Corporation (SWCC) 

to develop proposals for coping with the 

dwindling water resources in the Gulf 

region. Further, nine international companies 

have been invited to bid for a project 

valued at SR5-billion and projected 

to last 18 months to build a monorail for 

Haj pilgrims travelling between Mina, 

Arafat and Muzdalifa. 


32 

NUMOV 

NUMOV - SERVICES FOR THE CORPORATE MEMBERS OF OUR NON-PROFIT ORGANIZATION: 

Information 

♦ Market information on the region and on individual business 

sectors, general information regarding economic develop 

ment and economic support 

♦ Up-to-date monthly information, including information 

enquiries from the region as well as current employment 

offers and employment research 

♦ Up-to-date information about the North Africa and Middle 

East Initiative of the German Economy (Heads of all important 

German organisations with a relationship to the Near 

and Middle East, such as the Head of the Association of 

German Chambers of Industry and Commerce, the Head of 

the Federation of German Industries, the Head of our Near 

and Middle East Association) 

♦ HOTLINE - if the need arises, relevant information, 

obtained from the Near and Middle East Region 

♦ Membership list 

Consultation/Advisory Services 

♦ Well-founded individual counselling and up-to-date 

information 

♦ Initiation of international contacts 

♦ Selection and evaluation of suitable cooperation 

partners 

♦ Market entry, market build-up and risk assessment 

♦ Advice on basic economic conditions as well as 

on export and import promotion 

APPLICATION FORM FOR MEMBERSHIP 

NUMOV / German Near and Middle East Association 

I hereby apply for membership to the German Near and Middle East Association 

Company/Organisation: 

Address: 

Telephone No./Fax: Email: Internet: 

Legal form: Number of employees: Annual sales Date of establishment: 

Proprietor/Managing Director/Board Member: 

Principal contact: 

Address for invoice: 

Field of business activity: 

Position: Direct phone No: 

Near and Middle Eastern companies: We are particularly interested in the follwing services 

� Identifying potential clients and business partners � Establishing business contacts � Consulting on business development 

� Help with organising business events � Establishing contacts to competent authorities � Participating in or visiting trade fairs 

� Visiting business and industrial sites � Assistance at business meetings through interpreting and co-attendance � All services which are available 

European companies: We are particularly interested in the following countries 

� Afghanistan � Azerbaijan � Bahrain � Cyprus � Egypt � Iran � Iraq � Israel � Jordan � Kazakhstan � Kuwait � Kyrgyzstan 

� Lebanon � Maghreb � Oman � Pakistan � Palestinian territories � Qatar � Saudi Arabia � Syria � Tajikistan � Turkey 

� Turkmenistan � Usbekistan � UAE / United Arab Emirates � Yemen � All countries of the Near and Middle East 

Membership fee per year: Euro *) 

*) You are kindly requested to classify your company under one of the following membership fees. Euro 1,000 for medium sized companies with up to 50 employees, Euro 1,900 for companies with up to 100 employees, 

Euro 2,600 for companies with more than 100 employees. A list of membership fee regulations is available on request. 

The German Near and Middle East Association is a non-profit-making organisation. Court of jurisdiction is Hamburg, Germany. 

Location, Date Signature(s) (Name) 


Representation of Interests 

♦ At economic events and in negotiations with government 

institutions in Germany and in the region 

Invitations 

♦ To delegation trips to the Near and Middle 

East region 

♦ To meetings with foreign delegations in Germany 

♦ To regular country committee meetings and to the 

mutual exchange of experiences of German company 

representatives from the region 

♦ To an annual meeting with all Ambassadors of the region 

♦ To the annual General Meeting 

♦ To the annual German Near and Middle East Gala Event 

Organization in Germany and the Region of the Near 

and Middle East 

♦ Selection of specialists for projects 

♦ Providing contact opportunities and arranging 

exhibitions and conferences 

♦ Lectures by high-ranking personalities 

♦ Special one-day conferences / fairs / conventions 

♦ Seminars, training, education 

Cooperation 

♦ with all important foreign trade-oriented partner 

organisations, Chambers of Commerce, Associations, 

Embassies, Consulates, the Ministry of Economy, the 

Com mission of the European Union and scientific 

institutions

Introducing a NUMOV member 

Architectural Precast concrete is a child of the 20 th Century and 

modern technology that can trace its lineage back into ancient 

history. As such, it is a building material almost without 

precedent. Concrete in its cruder forms was used by the 

Romans in the construction of their aqueducts. Europe refined 

the time tested formula in the 19 th Century, developing a 

reinforced concrete that combined the compressive properties of 

concrete and the tensile strength of steel. The continuing growth 

and industrialization of the West created a genuine need for new 

techniques and materials that could be used in prefabricated 

construction. Architectural precast was developed to fulfill this 

need. 

Today, precast concrete can be provided in almost any colour, 

form, or texture making it an eminently practical and aesthetically 

pleasing building material. Architectural precast encompasses all 

precast concrete units employed as elements of architectural 

design whether defined to stand alone as an architectural 

statement or to complement other building materials. It is difficult 

to imagine an architectural style that cannot be expressed with 

this material. Precast concrete is not only compatible with all 

structural systems, it can be designed to harmonize with, and 

complement, all the other materials. 

Experts widely regard the use of precast concrete in construction 

as an economic, durable, structurally sound and architecturally 

versatile form of construction. The benefits of factory-made 

precast are recognised as making a significant contribution to 

lean construction. The advantages of drawing on the experience 

and expertise of specialist precast manufacturers in purposebuilt 

factories, are considerable. 

B.T. innovation GmbH is a global provider of innovative solutions 

to the precast concrete industry. Since its establishment in 1991, 

in Magdeburg, Germany, B.T. has been a leading provider of 

precast concrete accessories and products. These products 

Introducing a NUMOV member 

range from shuttering systems and magnetic systems to different 

kinds of plastic spacers and water sealants. During these years, 

B.T. has acquired large experience in the precast concrete field 

and managed to build a solid network of satisfied customers in 

more than 50 countries worldwide, leading the company to 

become one of the most respected companies in the industry. 

Today, B.T. also offers a variety of technical consultancy 

services for the precast concrete plant. These services include 

process optimization for precast factories, cost reduction, and 

planning and design of new plants. The company also offers 

complete turnkey precast concrete solutions for contractors and 

architects. These solutions are varying from cost estimations, 

value engineering analysis, and feasibility studies, to complete 

construction projects realizations. B.T. prides itself being a 

results oriented firm by offering unconventional solutions and 

measuring its success by the results of its clients. 

The architectural precast concrete market is experiencing a 

tremendous growth potential in the international construction 

sector. B.T. is currently expanding its market presence to 

include more countries in the near and middle east region. The 

company has begun to broaden its activities in the entire Middle 

East by forming strong relationships with key players within the 

industry. B.T. is seeking to form mutual cooperation with 

experienced companies to contribute to the sectoral growth in 

these markets. 

For more information about the company, please visit: 

www.bt-innovation.de or write an email to : 

Islam Abu Shousha- Business Development manager 

email: ishousha@bt-innovation.de 

tel. +49 391 735230 / fax +49 391 735253 


34 

Imprint 

Imprint Board of NUMOV 

WIRTSCHAFTSFORUM 

NAH- UND MITTELOST© 

Published by: 

Nah- und Mittelost-Verein e.V. 

Jägerstr. 63 A / D, D-10117 Berlin 

� (+49) 030 - 206410-0 

� (+49) 030 - 206410-10 

Publishing Director: 

Helene Rang 

5 th Edition 

September / October 2008 

bi-monthly 

Editorial team: 

Oliver Bali, Faris Barakat, Peter 

Dingens, Abdurrahim Gülec, Ghassen 

Guiga, Dr. Klaus-Dieter von Horn, Puya 

Kamalian, Victor Macfoy, Mirko Macke, 

Sarah Rehberg, Ahmad Sandid, Peter 

Schmitz, Ludwig Schulz, Numan Shamsi 

Al-Subaihi, Sebastian Sons, Hanna 

Takeuchi, Julia Stratmann, Karl Heinz 

Wittek, Aydogmus Yilmaz 

Further assistance: 

Mehran Akbarzadeh, Evija Basa, Juliett 

Burr, Anton Günther, Marie Rademacher, 

Sina Aylin Simsek, Jenny Tang 

Layout / Technical services: 

Filiz Teköz 

Printing: Brandenburgische 

Universitätsdruckerei und 

Verlagsgesellschaft mbH, Potsdam 

Exchange rates: Commerzbank AG 

Gues Authors: 

Dr. Mohammed Al-Fakhri 

Jens Dallmeyer 

Layla Raswol 

For their support for this edition, we 

would particularly like to thank: 

ATEGE Allgemeine Transportgesellschaft 

B.T. innovation GmbH 

DB International 

Europe Arab Bank plc 

Gulf Research Center 

Hochtief Facility Management GmbH 

KfW Bankengruppe 

MAN Ferrostaal Industrieanlagen GmbH 

RAK Free Trade Zone 

All published contributions are pro tected 

by copyright. Reproduction or duplication 

(including extracts) only permitted with 

the explicit permission of the German 

Near and Middle East Association, Berlin. 

The publisher accepts no liability for 

the com pleteness or factual accuracy of 

indi vidual contributions and any claims or 

damages potentially resulting from these. 

HONORARY CHAIRMAN 

Dr. Gerhard Schröder 

Former Chancellor of the Federal 


CHAIRMAN 

Martin Bay 

Managing Director 

DB International 

German Railway Group 

CEO AND DEP. CHAIRPERSON 

Helene Rang 

Proprietor 

Helene Rang & Partner 

DEPUTY CHAIRMEN 

Dr. Martin Herrenknecht 


Herrenknecht AG 

Dr. Norbert Kloppenburg 

Member of the Board 

KfW banking group 

Bernd Romanski 

Member of the 

Management Board 

HOCHTIEF Facility 

Management GmbH 

Jens-Ove Stier 

Managing Director, 

Winterstein Kontor GmbH 

Member of the Advisory Board 

Oil Invest Libya 

Michael Backfisch 

Head of Near and Middle East 

Handelsblatt 

Peter Dingens 

Ambassador (ret.) 

Federal Foreign Office 

Rudolf Dreßler 



Thomas Ellerbeck 

Director Communications and 

Politics of Vodafone D2 GmbH 

Dr. Peter Göpfrich 

Delegate of German Industry 

and Commerce in Dubai 

Dr. Henryk Frystacki 

Siemens AG (ret.) 

Wilfried H. Graf 

Arab Bank AG (ret.) 

BOARD MEMBERS 

Erik Bettermann 

Chairman Deutsche Welle 

Herbert Bodner 


Bilfinger Berger AG 

Jürgen Chrobog 


BMW Stiftung Herbert Quandt 

Secretary of State Ret. 

Burkhard Dahmen 


SMS Demag AG 

Klaus Eberhardt 

Chairman of the Board, 

Rheinmetall AG 

Edwin Eichler 


ThyssenKrupp AG 

Dr. Bernd Eisenblätter 


GTZ, Gesellschaft für 

Technische Zusammenarbeit 

Dieter Ernst 


Berlinwasser International AG 

Jürgen Fitschen 

Member of the Group 

Executive Committee 

Deutsche Bank AG 

Joachim Hörster, MdB 

Chairman of the Parliamentary 

Committee on Arab Countries 

German National Parliament 

Elke Hoff, MdB 

Mem. of the Federal German Parliament 

Advisory Board of NUMOV 

Dr. Gabriela Guellil 

Chairperson of the German Orient 

Foundation, Federal Foreign Office 

Dr. Jürgen Hellner 



Dr. Beatrice Kühne 

Head of International Affairs of BDI 

Marc Landau 

Executive Director Deutsch-Türkische 

Industrie- und Handelskammer 

Dr. Michael Lüders 

Michael Lüders Nahostberatung 

Dep. Chairman of German 

Orient-Foundation 

Dr. Jürgen K. Nehls 

Giesecke & Devrient GmbH (ret.) 

Dietmar Ossenberg 

Head of ZDF Editing Office 

Foreign Politics 


Dr. Peter A. Kaemmerer 

Member of the Executive Board 

Landesbank Baden-Württeberg 

Wolfgang Kunz 


Giesecke & Devrient GmbH 

Peter F. Mayr 

Managing Director, Terramar GmbH 

Hartmut Mehdorn 


Deutsche Bahn AG 

Marc Neumann 

Chairman of the Board of Managing 

Directors, MAN Ferrostaal 

Industrieanlagen GmbH 

Jürgen Sander 


VEM motors GmbH 

Paul Schockemöhle 

Proprietor, Paul Schockemöhle 

Pferdehaltung GmbH 

Maria-Elisabeth Schaeffler 

Proprietor, Ina Holding Schaeffler KG 

Werner Schoeltzke 

Proprietor, ENTRACON 

Dr. Jochen Weise 


E.ON Ruhrgas AG 

Dr. Monika Wulf-Mathies 

Executive Vice-President 

Deutsche Post World Net 

Honorary Member 

of the Board 1998 - 2005 

Hans-Jürgen Wischnewski + 

Federal Minister/Minister of State ret. 

Michael Pfeiffer 


Invest in Germany 

Bernhard von der Planitz 



Klaus Rollenhagen 

Managing Director of Verband 

Beratender Ingenieure VBI 

Jürgen Steltzer 


Member of the Board and Coordinator 

of the Emirati German 

Friendship Society 

Knut Witschel 

Managing Director & Head of Near 

& Middle East/Africa, Deutsche 

Bank AG (ret.) 

Karl Heinz Wittek 

Counsellor (ret.) 


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