By John Lee.
Dubai Chamber of Commerce and Industry is to set up representative office in Iraqi Kurdistan next yea, the chamber's chairman has announced.
Abdul Rahman Saif Al Ghurair said:
"The new office will help boost the presence of Dubai businesses in the Northern region of Iraq as the country was the second largest destination for Dubai Chamber members’ exports and re-exports accounting for 14 per cent of total goods traded with regional partners during the first half of this year.
"The rising profile of Kurdistan’s investment potential can be gauged from the fact that Iraq which ranked 14th on the list of Dubai’s top trading partners in 2008 jumped to 7th position in 2011 with non-oil trade between Dubai and Iraq rising by 60per cent last year in comparison to the year 2008."
Kurdistan constitutes 50 percent of Dubai’s trade with Iraq, he added.
Sinan Celebi [Chalabi] (pictured), the KRG's Minister of Trade and Industry, said that Dubai is one of the top five investors in Kurdistan.
"The provincial government is working hard to provide a healthy investment environment while new regulations to enhance business growth through the implementation of attractive investment laws and other related laws were underway."
(Sources: Khaleej Times, Gulf News)