Dubai Exports, the export promotion agency of the Department of Economic Development hosted the Arab Trade and Export Finance Conference in Dubai in cooperation with the Arab Federation for Industrial Exports Development (AFID). The forum emphasized the importance of financing small and medium-sized enterprises and facilitating their access to international markets.
About 130 delegates representing Arab, international and regional businesses, financial institutions and think-tanks attended the conference discussing global trade, the role of finance in export growth, risk extenuation and export cost mechanisms.
Challenges and opportunities in the region and neighboring markets were also evaluated by delegates, with keen focus on projects aimed at supporting exporters and manufacturers.
Dubai Exports held the Arab Trade and Export Finance Conference as part of its strategy to improve communication and the transfer of knowledge within the export sector, along with developing the export mechanism in the Arab world so as to enhance overall trade exchanges between the UAE and the its Arab neighbors and the greater international markets.
The Secretary General of AFIED- Ambassador Abdel Moneim Mohammed Mahmoud, Deputy CEO of Dubai Exports- Mohammed Ali al Kamali, and the Chairman of the EIPAL Group in Egypt and President of AFIED- Eng. Galal Abdel Fattah all addressed the conference.
Ambassador Mahmoud said that the forum appraised the role played by financial institutions and their export financing programs in supporting Arab industrial exports, risk mitigation mechanisms and cost in the export credit guarantee market, as well as success factors in supporting and developing SMEs.
He added that they have to accomplish regional economic integration and improve intra-Arab trade by smoothing the procedures of exports to aid SMEs in expanding and enhancing their exports.
The existing pattern and trends in international trade was also discussed by the conference as well as global trade policies and geopolitical developments. Speakers also emphasized the impression of greater intra-Arab trade on future global trade particularly in relation to rules of origin and the fluctuation of exchange rates.
Al Kamali commented that they are delighted to be part of the event that brought together industry professionals and top decision makers for the second year in a row. He said that they aim to construct a meaningful dialogue that enriches their strategy and policy in addition to supporting foreign trade in the United Arab Emirates and Dubai.
Al Kamali added that the outcomes of the conference will be beneficial to the companies of the United Arab Emirates in creating regional cooperation and competing in international markets successfully. He said that vast trade and export opportunities that can be well exploited exist in the Arab region.
Global practices in trade and the facilitation of export, automation of the procedures of trade to facilitate intra-Arab trade and proposed areas of trade cooperation among Arab nations was also discussed by the conference.