Export promotion agencies of the two countries step up co-operation and exchange of information

Dubai and Chile, both of whom are regarded prime trading hubs in their respective regions, have signed a Memorandum of Understanding to strengthen bilateral trade and mutually support their establishments and entrepreneurs.

The agreement was signed by Saed Al Awadi, CEO of the Dubai Export Development Corporation (EDC) - an agency within the Dubai Economic Department - and Alicia Frohmann, Director of the Chilean Department of Export Promotion (ProChile), in Dubai on Sunday, the 18th of October 2009.

Senior government officials and trade representatives from Chile and Dubai attended the signing ceremony, held alongside the ‘Chilean Week’, a showcase of Chilean culture and commerce being held in Dubai from the 17th to the 24th of October 2009.

The MoU establishes a framework for co-operation between Chile and the emirate of Dubai in expediting access to each other’s markets for their respective goods and services.

ProChile and Dubai Export Development Corporation also agreed to work together to facilitate exchange of information and mutual visits between trade delegations and entrepreneurs from Chile and Dubai. Both parties will also develop and support training programmes as part of a long-term strategy to promote bilateral trade.

“Dubai continues to hold a lot of promise for global trade. Its unmatched infrastructure, international outlook and connectivity have made Dubai an indisputable force. Much like Dubai is a major gateway to the Asian, Middle East and North African markets, Chile offers the easiest access to the Europe and the Americas,” said Frohmann.

“This Memorandum of Understanding seeks to strengthen trade relations between the UAE and Chile through a greater flow of mutual trade missions, which we hope will lead to stronger business relationships between companies in the two countries. Sharing on-the-ground knowledge of the respective local standards, pricing systems and packaging requirements is another important objective of this agreement,” Mr Al Awadi added.

Bilateral trade between Chile and the UAE crossed US$113 million in 2008, from US$ 81 million in 2005. Exports from Chile contributed over US$107 million to bilateral trade in 2008 while imports grew by over 200%, compared to the previous year. Currently, UAE is ranked No: 54 as a trading partner of Chile and No: 44 as a destination for Chilean exports.

-ENDS-
About ProChile
ProChile, the Chilean Trade Commission, is part of the Directorate General for International Economic Affairs of the Ministry of Foreign Affairs. It is responsible for implementing and enhancing Chile’s trade policy. ProChile strives to reinforce and project the country’s trade policies under four fundamental concepts: supporting small and medium companies in their process of going international; taking advantage of the opportunities arising from the country’s trade agreements; association between public and private organisations and positioning the country’s brand image in other markets. For this, ProChile has a network of more than 50 offices and commercial representations, strategically located in the world’s most important markets spread over more than 40 countries.

About Dubai Export Development Corporation:
The Dubai Export Development Corporation (EDC) is an organization established under the umbrella of the Government of Dubai and an agency of the Dubai Department of Economic Development, having commenced operations in 2007. Its vision is to be a world-class export development and promotion body, by creating an enabling environment for Dubai’s exports, with the aim of enhancing the competitiveness of Dubai as a preferred trading partner.

The EDC has developed value-added trade support services to UAE based firms exporting through Dubai, for accelerated and profitable expansion of their businesses in foreign markets.

For more information with regard to EDC, please contact:
Rose Manaog; Action UAE; rose.m@actionprgroup.com; +971 4 3902960.

For media requests, please contact:

Phone +971 (4) 337 2824
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Dubai, United Arab Emirates
Fax +971 (4) 337 2825