UAE News Today : Politics

UAE Chambers partner with IDB to launch Ma’an initiative

He UAE Federation of Chambers of Commerce and Industry (FCCI) today announced the launch of “Ma’an“, under the motto “Association for a promising economic future”, in collaboration with the International Development Bank (IDB), United Arab Emirates Branch.

The initiative is an extension of the Memorandum of Understanding (MoU) signed in June 2023 between the two parties to support and enable the private sectors of the UAE and the Republic of Iraq in various commercial and industrial fields.

The logo of the initiative represents the unwavering focus of the FCCI and the IDB in crafting a new vision for the business sector in both countries and working together to make it a reality on the ground.

Supported by the IDB The FCCI, a subsidiary of the United Arab Emirates, will organize a special pavilion at the upcoming 47th edition of the Baghdad International Fair from November 1 to 10, in which the ‘Ma’an‘ initiative. The pavilion will highlight a variety of Emirati companies from various sectors and host extensive discussions exploring ways to encourage UAE investment in Iraq’s free zones.

Humaid Mohammed bin Salem, General Secretary of FCCI, commented,

“Our participation in the 47th edition of the Baghdad International Fair through the ‘Ma’an’ initiative pavilion provides an excellent opportunity to showcase Emirati products and services and, at the same time, discuss ways to increase Emirati investment in the free zones of Iraq. “We are delighted to be part of this exciting new initiative and are confident that it will help take the economic partnership between our countries to the next level.”

He highlighted that the UAE private sector’s unwavering commitment to participate in all economic events in Iraq highlights the importance of Iraqi markets for Emirati products, regardless of their type. The announcement came during the launch of the Ma’an initiative at an event organized by the IDB branch in the United Arab Emirates, in the presence of Dr. Ziad Khalaf Abd, president of the International Development Bank, Farida Al Awadhi, president of the UAE Business Women Council, and several representatives from leading companies operating in the UAE, such as Onpassive AI, Crescent Petroleum, Food Industries, Al Nouais Group, Mars Food Industries and Pharma to Plate.

For its part, Dr. Ziad Khalaf, President of the IDB UAE, stated that the UAE Federation of Chambers plays a vital role in enhancing business growth and investments between the UAE and the international community. Furthermore, he highlighted that “Ma’an” The initiative’s pavilion at the upcoming 47th edition of the Baghdad International Fair would be a leading platform for communication between Emirati companies, business owners, investors and their Iraqi counterparts at individual and corporate levels. He added that the fair will provide a great opportunity to improve trade and economic relations between the two countries.

Dr. Ziad He also expressed confidence and optimism in building a constructive partnership with the UAE Federation of Chambers to secure the UAE’s position and presence on the Iraqi business map, driven by their shared vision and commitment to developing business relationships with partners. in the UAE. He clarified that the economic opening of the UAE represents a crucial stage in the construction of Iraq, its sustainable development, and that this relationship would positively impact everyone.

Through its association with the FCCI and the support of the “Ma’an“pavilion, the IDB The UAE branch aims to expand the proliferation of Emirati products and boost its regional and international presence. Furthermore, the initiative aims to improve trade activity between the United Arab Emirates and Iraq, contributing to Iraq’s economic growth and development.

News source: Emirates News Agency

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