UAE-Australia trade ties expand

UAE-Australia trade ties expand ABU DHABI, Mar 21, 2004 (WAM) — Australia has become a major supplier of automobiles to the Gulf, exporting 90,000 units last year, mostly the Toyota Camry and Chevrolet products, according to Peter Linford, Australian consul general and senior trade commissioner. Non-oil trade between Dubai and Australia reached Dh2.1 billion in 2002, according to the Dubai Chamber of Commerce and Industry (DCCI), according to a report in +Gulf News.+ In recent months, commercial activities between the two economies have intensified, partly as a result of increased flights by Emirates. The Dubai-based carrier now operates 28 weekly flights to Australia, carrying passengers both ways from Europe and the Oceania region through its hub. According to Linford, trade between the UAE and Australia has reached Dh4 billion ($1.09 billion), including Dh2.4 billion ($655 million) worth of goods and services exported to the UAE. Australia supplies over 90 per cent of Dubai Aluminium’s requirements of aluminium bauxite. He highlighted the achievements of many Australian companies, including NASA Multiplex and the University of Wollongong, that have established their bases in Dubai. Over 115 Australian companies and brands are now active in the UAE, 10 of which are 100 per cent Australian owned, and 105 partnership companies. Obaid Humaid Al Tayer, DCCI president, meanwhile, lauded the close trade ties between Australia and the UAE. He received a high-level trade delegation from Australia’s state of New South Wales yesterday, led by Governor Marie Bashir. Another delegation from Western Australia is also on a trade development visit to the UAE. Al Tayer urged both the Australian and the UAE’s business communities to take advantage of the existing opportunities prevailing in Dubai as well as Australia by forging partnerships. He said the rapid development of Dubai has positively impacted its economic relations with friendly countries like Australia. “We are confident that the current visit of the delegation represents an additional support to develop the actual business and economic relations between the UAE and Australia. “I seize this valuable occasion to address businessmen in Dubai and Australia to exploit the investment opportunities available within the two countries,” he said. WAM-VV 11 27 CCCCQQE