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<strong>NAFL</strong> REVIEW<br />
News & Updates<br />
Prospects of cooperation between DP World and<br />
Azerbaijan discussed<br />
The President of the Republic of Azerbaijan HE Ilham Aliyev receives<br />
Sultan Ahmed bin Sulayem, DP World Group CEO & Chairman, Chairman of Ports,<br />
Customs and Free Zone Corporation (PCFC), during a visit to Baku<br />
The President of the Republic of Azerbaijan<br />
His Excellency Ilham Aliyev has received<br />
Sultan Ahmed bin Sulayem, DP World Group<br />
CEO & Chairman, Chairman of Ports, Customs<br />
and Free Zone Corporation (PCFC), during a<br />
visit to Baku, where DP World signed an<br />
advisory agreement with the Azerbaijan<br />
Ministry of Economy and the Port of Baku to<br />
develop a framework for the Alyat Free Trade<br />
Zone in Azerbaijan.<br />
President Aliyev hailed DP World's<br />
partnership with his country in developing<br />
the Alyat Free Trade Zone, which once<br />
completed will transform the Port of Baku<br />
into a key logistic and transport hub in the<br />
middle of Eurasia, serving both European and<br />
Asian markets. He looked forward to further<br />
cooperation with the Group as part of the<br />
advanced economic relations between the<br />
United Arab Emirates and the Republic of<br />
Azerbaijan.<br />
Sultan Ahmed bin Sulayem expressed his<br />
delight at meeting with Azerbaijan President<br />
Ilham Aliyev with whom he explored the great<br />
potential for collaboration between DP World<br />
and the Republic of Azerbaijan in their<br />
promising ports, free zone and logistics<br />
industry. This follows the directives of His<br />
Highness Sheikh Mohammed bin Rashid Al<br />
Maktoum, Vice President and Prime Minister<br />
of the UAE and Ruler of Dubai, to reinforce the<br />
UAE's pioneering role in the advancement of<br />
the ports industry around the world and to<br />
enhance global trade. DP World will offer<br />
Azerbaijan its expertise as a major global<br />
developer of ports and economic zones. The<br />
company develops and operates its flagship<br />
Jebel Ali Freezone (Jafza), the world's leading<br />
free trade and economic zone.<br />
DP World Group Chairman & CEO, Sultan bin<br />
Sulayem, said: “By entering into this advisory<br />
agreement to develop the Alyat Free Trade<br />
Zone, global trade enabler DP World has set<br />
off a new phase of cooperation with<br />
Azerbaijan. I proposed to President Aliyev the<br />
building of three new logistic free zones: The<br />
first at the Azerbaijan-Iran border, the second<br />
at the border with Russia, and the third at the<br />
border with Georgia. All of them will be<br />
connected via Azerbaijani railways to the<br />
Alyat Free Trade Zone and the port and airport<br />
of Baku. This will streamline the movement of<br />
cargo from the Port of Aktau, jointly<br />
developed and operated by DP World in<br />
Kazakhstan, to the Port of Baku and then to<br />
the Black Sea, through to DP World terminals<br />
in Romania and Turkey and across its<br />
extensive international network in Europe.<br />
The ultimate outcome of this project will be<br />
an enhanced role of Azerbaijan in global<br />
trade, by making best use of the country's<br />
strategic location connecting the Caspian<br />
Sea with major ports on the Black Sea.”<br />
Sultan bin Sulayem further noted that the<br />
Ports, Customs and Free Zone Corporation<br />
(PCFC) is strongly committed to reinforcing<br />
economic and commercial ties between the<br />
UAE and Azerbaijan. Bilateral trade between<br />
Dubai and Azerbaijan reached AED 1.251<br />
billion in 2015, consisting of imports worth<br />
AED 39.34 million, exports at AED 271.28<br />
million and re-exports adding up to AED<br />
941.19 million. In the first quarter of this year<br />
2016, Dubai-Azerbaijan foreign trade totaled<br />
AED 151.91 million.<br />
“The increasing expansion of our global<br />
business portfolio at DP Word and PCFC is<br />
primarily driven by the UAE's objectives to<br />
diversify its national economy and boost its<br />
sources of revenue ahead of the imminent<br />
post-oil phase,” added Bin Sulayem.<br />
The Alyat Free Trade Zone will occupy 20 sq<br />
km once fully developed, with DP World<br />
advising on its business plan, regulations<br />
governing special economic zones and a<br />
master plan for phase one of the project,<br />
which spans 4 sq km.<br />
Global study underlines role of trade promotion<br />
bodies in GDP growth<br />
Trade promotion agencies bring substantial<br />
returns, in terms of diversifying exports and<br />
opening up export markets, as well as in<br />
country branding and economic growth, says<br />
a report published by the International Trade<br />
Centre (ITC), a joint affiliate of the World Trade<br />
Organisation (WTO) and the United Nations.<br />
According to the report, every one dollar<br />
spent on export promotion generates US$87<br />
worth of additional exports and a $384<br />
increase in gross domestic product (GDP).<br />
ITC, a joint initiative of the WTO and the United<br />
Nations Conference on Trade and<br />
Development (UNCTAD), found in its research<br />
that trade promotion organizations<br />
contribute to a 5-6 percent rise in GDP per<br />
capita and a 7-8 percent rise in exports,<br />
through varied services covering financial<br />
assistance, market intelligence, product<br />
certification assistance, and in facilitating<br />
participation in trade promotion events.<br />
Commenting on the report, Sami Al Qamzi,<br />
the Director-General of the Department of<br />
Economic Development (DED) in Dubai, said<br />
the emirate is uniquely placed to benefit from<br />
sustained focus in trade and export<br />
promotion.<br />
"Dubai continues to evolve into a strategic<br />
manufacturing, export and re-export hub. The<br />
more that local firms realise their export<br />
potential, and the more Dubai communicates<br />
its advantages as a source market for diverse<br />
products overseas, the more the outwardlooking<br />
growth strategy of Dubai and the UAE<br />
will have its desired results, including a<br />
favourable balance of trade," Al Qamzi said.<br />
Saed Al Awadhi, the CEO of Dubai Exports, the<br />
export promotion agency of the DED, said the<br />
role of trade promotion organisations in<br />
driving growth has become more important as<br />
the global trade environment becomes more<br />
dynamic and volatile.<br />
The top 10 markets for Dubai Exports in 2015<br />
were India, Saudi Arabia, Iran, Oman,<br />
Singapore, Bahrain, USA, Turkey, Kuwait, and<br />
Iraq.In 2016, the focus is on further<br />
diversifying exports from Dubai to 15<br />
countries, including China, India, Russia,<br />
Saudi Arabia, Qatar, Egypt, France, Hong Kong,<br />
Vietnam, Nigeria, Rwanda, Brazil, Paraguay,<br />
Azerbaijan and Uzbekistan, Al Awadhi said.<br />
Sep-Oct 2016 / 12