DUBAI, United Arab Emirates, Thursday November 15, 2018 – The first-ever UAE & Caribbean Cooperation Forum is set to take place in Dubai later this month to explore potential to boost economic cooperation between the UAE and Caribbean region.
Co-organised by the UAE Ministry of Foreign Affairs and International Cooperation and Dubai Chamber of Commerce and Industry, in partnership with the UAE Ministry of Economy and the UAE Ministry of Culture and Knowledge Development, the November 24-26 forum will bring together more than 100 government and business leaders from the UAE and Caribbean countries.
High-level discussions, sessions and presentations at the forum will identify new partnership opportunities between the UAE and Caribbean countries, and place a strong focus on trade, investments, development and cultural exchange.
The UAE’s Minister of State for International Cooperation, Reem Bint Ebrahim Al Hashimy said the upcoming forum is “a manifestation of the bridges we have built over the years with the countries of the Caribbean, where economic, cultural and developmental cooperation and partnerships come together to nurture mutual and general efforts to build a better world for future generations”.
The UAE-Caribbean Renewable Energy Fund (UAE-CREF), launched during Abu Dhabi Sustainability Week 2017, marked a turning point in bilateral relations between the two regions in key sectors, most notable of which are clean energy and infrastructure.
On the sidelines of Abu Dhabi Sustainability Week 2018 in January of this year, the AED183.6 million (US$50 million) UAE-CREF announced the launch of the second funding cycle through partnerships with seven new Caribbean countries, which will substantially contribute to the growth and development of the renewable energy sector in Belize, the Dominican Republic, Grenada, Guyana, Haiti, St Kitts and Nevis and St Lucia.
“There is huge potential for Caribbean countries to boost trade with the GCC, Middle East, Africa and Asia, and the UAE is well-placed as a re-export hub that can provide them with easy access to these markets,” said Hamad Buamim, President and CEO, Dubai Chamber.
He noted that the UAE offers world-class infrastructure, strong logistics expertise and support, investor-friendly business environment, and attractive free zones, which are all important advantages that can help Caribbean companies expand their global reach. He added that the upcoming Forum would provide an ideal platform to showcase these strengths, as well as untapped business potential that exists in Caribbean countries.
The UAE & Caribbean Cooperation Forum will aim to generate interest in Caribbean markets among leading UAE-based companies and organisations such as Emirates Airline, DP World, Dubai Airports, Etihad Airways, Khalifa Port.
The forum will raise awareness about attractive investment opportunities within the Caribbean region’s energy, infrastructure, agriculture, information technology and tourism sectors. In addition, the event will highlight key areas where the UAE can offer its expertise and investment to fill market gaps in Caribbean markets and address key economic challenges.
A series of workshops, entitled the ‘UAE Technical Assistance Programme’, will be hosted on the sidelines of the forum. These events will help Caribbean companies learn more about the UAE’s economy and business environment, while participants will also examine strategies for fostering sustainable economic growth across both regions.