Thursday 3 December, 2020

Dubai to host first-ever Caribbean conference

The first United Arab Emirates (UAE) and Caribbean Cooperation Forum is set to take place in Dubai in late November to explore potential to boost economic cooperation between the two regions.

The forum, set to take place from November 24 to 26 will see over 100 government and business leaders from the UAE and Caribbean islands lead discussions, sessions, and presentations with a strong focus on trade, investments, development, and cultural exchange, identifying new partnership opportunities between the two regions. 

The two-day forum was 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. 

Reem Bint Ebrahim Al Hashimy, the UAE’s Minister of State for International Cooperation, 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 and 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 highlight investment opportunities within the Caribbean region’s energy, infrastructure, agriculture, information technology, and tourism sectors. It will also feature key areas where the UAE can invest and fill market gaps in Caribbean markets, addressing key economic challenges.

Additionally, a series of workshops, entitled the ‘UAE Technical Assistance Programme’, will be also be hosted. The workshops are meant to educate Caribbean companies on UAE’s economy and business environment while examining strategies for fostering sustainable economic growth across both regions.

The UAE-Caribbean Renewable Energy Fund (UAE-CREF), launched during Abu Dhabi Sustainability Week in 2017, marked a turning point in bilateral relations between the two regions in key sectors, including clean energy and infrastructure.

During Abu Dhabi Sustainability Week 2018 earlier 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.


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