UAE/TURKISH BUSINESS RELATIONS

News

• 21 Nov 2009

  New Plan to support Foreign Entrepreneurs in Dubai to launch in 2010

  A newly expanded program by the Dubai government will enable expatriate entrepreneurs to apply for start-up assistance from the first quarter of next year.
  
  “It’s different, it’s new, something that the nation can be proud of regardless of where they’re from. Either they’re from Dubai, living in Dubai, living in the UAE...It’s extremely open.” states Abdul Baset Al Janahi, CEO of Mohammed Bin Rashid Establishment For SME Development (MBRESD).
  
  Read the entire article here: http://www.arabianbusiness.com/574110-dubai-programme-to-ass...
  
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• 17 Nov 2009

  Energy security should be universal

  Energy security should be universal, benefiting rich and poor nations alike, the chief of the Organisation of Petroleum Exporting Countries (Opec) told a regional energy security conference on Monday.
  
  "Energy security should apply to the entire supply chain and cover the foreseeable time-horizons as well as enabling all consumers to benefit from the most modern energy products," said Jose Maria Botelho de Vasconcelos, president of Opec.
  
  Vasconcelos, who is also Minister of Petroleum of the Republic of Angola, said in his keynote speech at the Conference on Energy Security in the Gulf organised by the Emirates Centre for Strategic Studies and Research, energy security should apply to all energy sources "in a manner that is free from prejudicial regulatory and legislative measures." He urged energy consumers to consider needs and concerns of the producers.
  
  "Opec has repeatedly asked consumers governments to ensure transparency, predictability and consistency in their policy-making. We are committed to security of supply. However, what really concerns us in Opec is the other side of the coin, security of demand," the Opec chief said, stressing security of demand should be given the same weight as security of supply for consumers.
  
  The six Gulf members account for 65 per cent of Opec's crude oil output and 60 per cent of its marketed production of natural gas.
  
  The shares of proven reserves are slightly higher, at 72 and 79 per cent respectively.
  
  The Gulf region possesses 57 per cent of the world's crude oil reserves and 40 per cent of its natural gas.
  
  The Opec chief said projections put world oil demand to rise by 20 million barrels per day (bpd) to 106 million bpd between 2008 and 2030.
  
  "But these are only projections, based on present trends. The reality may turn out to be very different in an uncertain world. And so every effort must be made to avoid adding to this uncertainty, because in the longer run adding to it will prove to be counterproductive."
  
  The Opec chief said producers cannot afford to invest heavily in capacity that will not be used. "Neither producers nor consumers want excessive, volatile oil prices in the future. And this can best be avoided by making the right amount of investment today."
  
  Vasconcelos said he was saddened by the recent calls by some influential parties in richer nations to reduce dependence on imported oil.
  
  "We cannot see where this is leading to and what they hope to gain from such calls. One of the clear lessons from the global financial crisis is that the world economy performs best in a climate of interdependence among nations. This is especially true for the energy industry. Its infrastructure and trading patterns are well-established and global in nature. And the challenges facing it extends well beyond basic market economics. They also include universal issues affecting the advancement of mankind, such as the environment and sustainable development."
  
  He stressed the challenges facing energy security "are too big to be handled at a national level. No country can afford to go it alone in the energy industry today. We should all recognise the true value of interdependence among nations and the comprehensive nature of energy security."
  
  
  
  Source:GulfNews
  
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• 15 Nov 2009

  MoU between Dubai Chamber and Emcredit

  In a move to support the business community, Emcredit, the UAE's first government-backed credit bureau, and the Dubai Chamber of Commerce and Industry have announced the signing of a Memorandum of Understanding (MoU).
  
  Under the terms of the agreement, the Dubai Chamber and Emcredit will cooperate to raise awareness of the role of credit information and facilitate trade credit between businesses.
  
  This will allow businesses to enhance their credit risk management processes and sustain business growth in a prosperous trading environment.
  
  Furthermore, Emcredit and the Dubai Chamber will organise a series of conferences and round-table discussions to promote credit information sharing among businesses.
  
  As a specialised credit information company, Emcredit provides the commercial sector with a platform to share credit experiences and payment performance information on their customers in a secure environment.
  
  Globally, SMEs account for 99 per cent of the business sector and contribute to 50 per cent of the world's GDP.
  
  "In the UAE, SMEs account for 80 per cent of the country's GDP," said Hamad Bu Amim, Director General of the Dubai Chamber. "This dominance of the SME sector both in terms of the number of firms as well as its contribution to GDP highlights the importance of this sector to the success of the UAE economy."
  
  "Our partnership with Emcredit is yet another part of our efforts to support and protect the interests of the business community in Dubai by creating a favourable business environment and helping them to manage risks more effectively by promoting transparency among businesses," Bu Amim said.
  
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