(MENAFN- Mid-East.Info)
Dubai, UAE: Regional Comprehensive Economic Partnership (RCEP) countries are rewiring supply chains and creating new trade opportunities, according to industry experts speaking earlier today at the first-ever Global Business Forum (GBF) ASEAN in Dubai.
Organised by Dubai Chamber in partnership with Expo 2020 Dubai, the two-day forum explores investment prospects emerging across ASEAN markets, new avenues of UAE-ASEAN economic cooperation, as well as trade synergies and bilateral business opportunities.
Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the first day of GBF ASEAN featured a session, which was joined by H.E. Ramon Lopez, Secretary (Minister) of the Department of Trade & Industry of the Republic of the Philippines; Mishal Kanoo, Chairman of The Kanoo Group; and Prof. Romano Prodi, President of the Italy-ASEAN Association.
“The negative impact of COVID-19 on the economic cycle is undeniable,” H.E. Ramon Lopez noted.“However, recent news about the new Omicron variant seem to be less impactful. We are moving forward with reopening the economy and spearheading recovery in the Philippines. The country reopened its borders to tourists on December 1 of this year, and we believe having the Regional Comprehensive Economic Partnership (RCEP) is helping countries adapt to changes and find new avenues for partnership.”
Meanwhile, Prof. Romano Prodi asserted:“Business models must focus on exporting and find the ideal partner to do that. The Regional Comprehensive Economic Partnership (RCEP) emphasizes the possibility of establishing partnerships with non-member countries around the world. The agreement is therefore, in the interest of the entire region and will contribute to stimulating global economic recovery. We must support SMEs because they make up a major pillar of the global economy, but they need to organise themselves in an integrated system and build relationships with suppliers.”
For his part, Mishal Kanoo said:“Facing the implications of the COVID-19 pandemic for the economy was never easy. However, the UAE government presented a uniquely successful approach for dealing with the crisis. Instead of scaring the public, the UAE's wise leadership decided to give hope to all of us by being among the first countries in the world to reopen, continuing to attract people who travel and participate in an engaging business environment here in Dubai. We believe that the UAE, and Dubai, in particular, has presented itself as a world business hub bringing together businessmen, investors, and decision-makers to brainstorm ideas and discuss all aspects of business.”
GBF ASEAN forms part of Dubai Chamber's flagship Global Business Forum series, which was launched in 2013 to provide Dubai's business community access to new growth opportunities in promising markets and position he emirate as a global gateway for ASEAN companies.
Dubai Chamber mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business and promoting Dubai as an international business hub. Since its establishment, the Chamber has contributed to strengthening Dubai's position as a global destination in the world of finance, business and investment. The Chamber provides a wide range of services that enhance business competitiveness and support sector companies through facilitating the conduct of their business, including issuing certificates of origin, providing data and economic research, providing mediation and commercial arbitration services, receiving foreign trade delegations and sending commercial missions abroad. As well as organising forums, seminars, business meetings and training courses for representatives of the business community, serving business groups and councils, providing credit rating services, and a large number of specialised smart services that meet the needs of members and enhance the investment environment in Dubai.
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