Dubai, Prague Build New Bridges of Economic Cooperation

Public and private sector players attending the Czech-UAE Business Forum 2019 in Prague called for businesses in the two countries to explore new partnership opportunities in key sectors of mutual interest such as smart city solutions, manufacturing, logistics, healthcare, tourism and artificial intelligence, which can support the strategic vision of both governments.

The high-level forum, attended by Abdullah Mohammad Al Maainah, UAE Ambassador to the Czech Republic, attracted more than 100 delegates including government and business leaders, as well as industry experts who gathered to explore trade synergies and new avenues of cooperation.

Organised Dubai Chamber of Commerce and Industry in cooperation with the Czech Business Council in Dubai, the forum coincided with a Dubai Chamber-led trade mission to Prague and Karlovy Vary.

Addressing delegates at the forum, Jan Dejl, First Deputy Minister at the Czech Ministry of Industry and Trade, emphasised the importance of organising events foster bilateral cooperation and noted that the UAE and Czech Republic share a common vision when it comes to innovation and economic diversification.

He presented an overview of the Czech Government Innovation Strategy and highlighted areas of synergy where UAE and Czech companies can share knowledge and collaborate.

Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Under-Secretary for Economic Affairs at the UAE Ministry of Economy, noted that the forum comes at a time when political and economic relations between the UAE and Czech Republic following several high-level visits.

Al Shehhi added that the Czech Republic is one of the most promising destinations for UAE companies and the country provides a safe and investor-friendly environment, in addition to easy access to Central European markets.

He also highlighted the various advantages offered by the UAE to foreign companies and investors, such as the country’s world-class infrastructure and state-of-the-art logistics facilities and free zones.

For his part, Hamad Buamim, President and CEO of Dubai Chamber of Commerce & Industry, described Czech Republic as a key trade partner to Dubai an ideal gateway for UAE exports and re-exports that reach emerging markets throughout Central Europe.

He noted that there is tremendous potential for Dubai’ to expand its non-oil trade with the Czech Republic to new product categories and beyond the US$980 million account in 2018.

In turn, Hisham Al Shirawi, Second Vice Chairman of Dubai Chamber, said that the Czech Business Council in Dubai, established at the previous Czech-UAE Business Forum under the umbrella of Dubai Chamber, has been playing a very active role in promoting exchange between the two business communities.

During the four-day trade mission, the delegates participated in site visits to GHC Clinic Prague, the largest and most comprehensive private health care facility in the Czech Republic, the Moser Crystal Factory in Karlovy Vary and Air Navigation Services of the Czech Republic and Czech Aviation Training Centre, and met with the Mayor of Karlovy Vary Andrea Pfeffer Ferkel to discuss business potential in the city and prospects for UAE-Czech collaboration in the tourism and wellness sectors.