HE Obaid Humaid Al Tayer, Chairman, Dubai Chamber of Commerce & Industry yesterday (Wednesday) received an Uzbek delegation headed by HE Elyor M. Ganiev, Minister for Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan during their visit to the UAE.

Said Al Tayer, "We welcome the Uzbek minister and his accompanying delegation as this visit is bound to strengthen business ties between the two trading partners," he said adding, "At Dubai Chamber it’s our foremost mission to arrange networking events between different business groups of the world therefore we make sure to receive high profile delegations from abroad as well as send our own delegations to different countries to promote growth of business between Dubai and global investors and businessmen."

Al Tayer pointed out that Dubai shares a long-time trading relationship with Uzbekistan as there are presently 67 Uzbek partnership companies operating in the emirate while Dubai’s non-oil trade with the country reached AED217.3 million at the end of 2006. There is also an agreement of cooperation signed in 1997 between the two trading partners. Uzbekistan was ranked 98 in a list of Dubai’s direct trade with other countries in 2006.

Al Tayer stressed Dubai Chamber’s interest in continuing to play its lead role in promoting the economic progress of Dubai through supporting the business community with value-added services that help them improve their business activities and enhance their competitive advantages to facilitate their access into global markets, and establish new contacts with their counterparts worldwide.

Uzbekistan’s GDP (per capita) stood at US$2,200 at the end of 2007 and the country is now the world’s second largest cotton exporter and fifth largest producer as it relies heavily on the production of ’white gold’ as a major source of export earnings. Other major export earners for the country are gold, natural gas and oil.

The top five items of Dubai’s Import from the Uzbekistan in 2006 included Base metals and products thereof; Textiles; Vegetable products; Chemical or allied industries and Prepared foodstuffs while the top five items of Dubai’s Export & Re-export to Uzbekistan in 2006 was Machinery, electrical and electronics equipment; Vehicles, aircraft, & transport equipment; Furniture, toys, sports requisites and miscellaneous items, Manufacturing, Textiles and Prepared foodstuffs.