Dubai Exports, the export promotion agency of the Department of Economic Development (DED), recently participated in BakuBuild, the leading construction industry fair in Central Asia held annually in Baku, the capital of Azerbaijan, along with 16 Emirati companies specialized in building materials. The exhibition was held this year in the backdrop of growing interest among UAE construction companies in reaching out to new markets overseas and the strong potential for collaboration between UAE and Central Asian markets across diverse sectors. Dubai Exports also hosted a business forum alongside the exhibition with the support of the UAE Embassy in Baku and the Azerbaijan Export and Investment Promotion Agency (AzPromo), to explore ways to develop the strategic relations between the UAE and Azerbaijan into a stronger commercial engagement. The event was attended by senior decision-makers including Azerbaijan's Minister of Economy and over 150 representatives from various industry sectors in Azerbaijan, in addition to DP World and 20 Emirati companies. Azerbaijan is one of the leading economies in Central Asia, revamping its industrial and transport infrastructure to leverage its location and regional connectivity. The country is also one of the sponsors of the East-West and North-South transport corridors, and holds vast potential for collaboration with the UAE is the field of logistics and shipping. Dubai Exports also facilitated a number of B2B meetings during BakuBuild 2016 to enable companies from the UAE learn about the demand situation across various sectors in the Azeri market and ways of doing business in the country. As part of its market research, Dubai Exports periodically gathers views from experts in target markets and share such information with UAE companies looking for new export opportunities. Mohammed Ali Al Kamali, Deputy CEO of Dubai Exports, said Dubai Exports, over the last three years, has been pursuing greater commercial engagement between Dubai and Azerbaijan through international exhibitions, trade missions and hosted buyer programs. "The abundance of natural resources has brought high and stable economic growth to Central Asia. Azerbaijan, and countries elsewhere in the region, are implementing developmental strategies that focus on building trade alliances trade with markets in the neighborhood, like the UAE. There is already a healthy flow of trade and tourism between the UAE and Azerbaijan, and Dubai›s exports to Azerbaijan was worth over 271 million dirhams in 2015," said Al Kamali. "Since 2013, Dubai Exports has been participating regularly in BakuBuild and we have brought 66 construction sector firms from the UAE to the event so far, as well as organized a variety of programs, most notably trade missions and B2B meetings with the support of industry associations and chambers of commerce in Azerbaijan," Al Kamali added. Al Kamali said Dubai Exports is focusing on markets where Dubai can optimize its advantages as an export and re-export hub and at the same time open up new opportunities for UAE companies, eventually leading to a healthy balance of trade. The Dubai Exports strategy is also rooted in the Dubai Plan 2021 goal of positioning Dubai as one of the leading business centers in the world where companies can grow and expand to new export markets. Mohamed Marzouki, Senior Manager for Exporter Relations at Dubai Exports, added that the agency, through its various services and initiatives regularly updates exporters on the potential and level of competition in new markets and the importance of diversifying the export portfolio in line with the growing needs in various markets. "The B2B meetings in and alongside BakuBuild covered different sectors, particularly food packaging, perfume, and utility services. We support diversity of exports and sectors as it will help promote ‘Made in UAE' products abroad and aligns with the government's policy of encouraging diverse industrial activities." in Dubai, and the UAE in general," Marzouki said. — SG
