Monthly Magazine February 1999

The Abu Dhabi Chamber of Commerce & Industry has been empowered, through a new law, to express its views on all draft laws and regulations referred to it by the authorities.

The new Law no (7) of 1998, was issued recently by His Highness Shaikh Khalifa Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council.

The new law supercedes law no. (6) of 1976, empowering the Chamber with new tasks that include follow up of laws and systems relating to commerce & Industry.

Also it empowers the Chamber to make proposals for promotion and facilitation of business activities in the capital as well as proposals to the authorities in all fields related to industry, commerce, finance and production, including those relating to setting up potentially viable projects.

The new law empowers the Chamber to train nationals by setting up training centres. National employees of the Chamber will be covered, by the law on pensions and end-of-service benefits.

ADCCI services praised

His Excellency Dr. Shaikh Sultan Bin Khalifa Al Nahyan, Chief of the Court of H.H. Crown Prince of Abu Dhabi, Honorary Chairman of Abu Dhabi Chamber of Commerce & Industry praised the ADCCI for providing new services to local businessmen and foreign investors.
H.E. Shaikh Sultan made a surprise visit to Abu Dhabi Chamber, inspected the various departments and acquainted himself with the new fast and quick procedures by it for acquiring membership

He advised that ADCCI should keep on expanding the scope of activities and developing the services rendered to the business community.

H.E. Saeed Bin Jabr Al Suwaidi lauded the support given by H.E. Shaikh Sultan to the Chamber, encouraging it to serve the national economy with enthusiasm and dedication.

He also visited the new hall of the ADCCI Membership & Registration Department, designed and equipped to provide service to the largest number of clients possible.
H.E. Shaikh Sultan later held a meeting with the First Vice President of ADCCI, H.E. Saeed Bin Jabr Al Suwaidi, and Director General, Mr. Mohammed Omar Abdullah, and expressed satisfaction at the performance of the various departments at the Chamber.

Trade Ties Reviewed

H.E. Rahma Mohammed Al Masaood President of Abu Dhabi Chamber of Commerce & Industry held a meeting with Mr. O. Latipov, Deputy Prime Minister and Foreign Minister of the Republic of Belarussia, to discuss means of boosting economic and trade relations between Belarussia and the UAE and Belarussia.

During the meeting, H.E. Al Masaood said that both parties should exert efforts to increase the trade exchange, and enhance contacts between businessmen from both countries. He explained also in details the rules and regulations of executing business and investment in the UAE. He invited firms and businessmen from Belarussia to visit the UAE and be acquainted with the UAE markets, investment opportunities and business facilities. Both parties discussed the possibility of setting up a permanent trade center and organizing a trade and business week in Abu Dhabi.

From his side, Mr. Latipov called upon businessmen from Abu Dhabi to benefit from investment opportunities in his country particularly in the agricultural sector and light industries. He invited the President of ADCCI to visit Belarussia and be acquainted with the economic and business potentials of his country.

Hopes to boost ties with Benin

The First Vice President of Abu Dhabi Chamber of Commerce & Industry His Excellency Saeed Bin Jabr Al Suwaidi held discussions with a visiting official delegation from the South West African state of Benin, headed by its Minister of Finance His Excellency Abdalah Bio Tchane.

"We have excellent political ties with the African states and need to enhance further trade and commercial links," said H.E. Al Suwaidi.

As part of the efforts of Abu Dhabi to foster closer economic ties with these countries in general and Benin in particular, the proposal for the construction of an oil refinery in Benin is now at the initial stage of study.

H.E. Al Suwaidi said that the preliminary task would address itself to the economic feasibility of the project and related issues. A trade delegation is also likely to visit Benin to conduct a general survey and assess the pulse of the market for business enterprises, and in general to gather more information on ways and means of promoting bilateral trade," mentioned the Chamber official.

He said that the proposal for the establishment of a branch of a UAE commercial bank will also be studied, in the context of paving way for financial and monetary support.

The Finance Minister of Benin H.E. Tchane said "We are encouraged by the warm response to proposals for accelerating the pace of bilateral trade," listing that the major exports of his country are cotton and timber.

He said that the ADCCI has accepted his invitation to take part in a trade fair to be held in Benin.

Ukrainian Mission

H.E Mohammed Shabib Al Dhahiri Member of the Board of Directors of ADCCI held a meeting with a Ukrainian delegation, headed by Ms Elvira Smertenuk President of Ukraine Chamber of Commerce. The meeting was attended by members of the Boad of Directors and a number of businessmen in Abu Dhabi.

H.E. Al Dhahiri delivered a speech explaining that Abu Dhabi economic strategy aims at diversification of income resources by utilizing available natural resources. It is cooperating with trade partners to lessen dependence on oil as a sole source of income, he added. He briefed the delegation on the facilities provided by Abu Dhabi to set up joint ventures, and the investment opportunities especially in oil and gas sectors, as well as in agriculture, food industry and tourism sectors.

From her side, the head of the visiting delegation pointed out to the wish of Ukrainian firms and companies to establish contacts and trade relations with UAE counterparts. She said that the delegation aims at being acquainted with the needs and capabilities of UAE markets and searching possibilities of joint ventures.

MoU with Bahrain

The Abu Dhabi Chamber of Commerce and Industry, (ADCCI), signed a memorandum of understanding (MoU) with Bahrain Training Institute, to provide for training programmes for the British BETEC National Diploma and BTEC Higher National Diploma in Business studies, Human Resource Management, Acounting, Marketing and New Business Enterprise.

The agreement was signed by Mr. Mohamed Omar Abdullah, the Director General of ADCCI and Naji Al Mahdi, Director of Bahrain Training Institute.

Mohamed Omar Abdullah later told a press conference the agreement was part of Chamber’s strategy to increase the participation of the UAE national human resources in the private sector through its unique Work Passport Programme that the Chamber launched last year.
Mohamed Omar Abdullah later told a press conference the agreement was part of Chamber’s strategy to increase the participation of the UAE national human resources in the private sector through its unique Work Passport Programme that the Chamber launched last year.