UAE Law Firm Bin Shabib & Associates LLP has strengthened its presence in the MENA region by launching a new office in Erbil, Iraq. The launch marks BSA's second foray into the MENA market in as many months, having already expanded into Muscat, Oman, this year.
After more than a decade in the UAE, the launch is in line with plans for growth, in recognition of the increase in demand from its clients and the continued activity in the Iraqi market. This expansion will allow BSA to strategically position itself as one of the market leaders in legal service providers in the MENA region and enable it to service the needs of its clients in Iraq.
Jimmy Haoula (pictured), Managing Partner of BSA commented:
"These are exciting times for the firm as we embark upon this new venture. Erbil is a gateway to Iraq due to its stability and proximity and enables BSA to leverage upon and build a secure platform for the future opening of our Baghdad office next year. Given that UAE-Iraq trade has expanded by 60% last year, the opening of our Erbil office will allow us to be part of the successful development and advancement of a world class city in years to come.
"As with all our expansions in the region, we have invested heavily in local lawyers who know the market and have rights of audience in their respective local jurisdictions. This will give our clients peace of mind and provides us with the 'cutting-edge' amongst our competitors."
BSA's recent launch coincides with the announcement from the Dubai Chamber of Commerce and Industry of their new strategy to set up a representative office in Iraqi Kurdistan next year, with a view to bolster the strategic alliance between Iraq and the UAE. This further enunciates the long term views of the Chamber in depicting Iraq as a key jurisdiction for cross-border trade.
H.E. Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry commented:
"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."
The new venture gives BSA a network of 7 offices in 4 different countries, namely the UAE, Oman, Iraq and Lebanon, with another office scheduled to open in December of 2012 in Riyadh, Saudi Arabia. BSA is a full service law firm offering corporate, commercial and litigation services to international and regional companies from all industry sectors through dedicated practice departments, which are headed by highly experienced legal experts.
Since its establishment in the UAE in 2001, BSA has grown to become one of the leading and most innovative local law firms in the UAE with continued expansion in the MENA region and was the first of the local law firms to set-up an office in the Dubai International Financial Centre ('DIFC').