As one of the world's fastest developing commercial centres, the list of superlatives for Dubai increases almost on a daily basis.
Nevertheless, maintaining its leadership role as a regional trading hub and enhancing the city's ability to make business, and attracting new businesses requires the dedication of numerous government organisations working together.
The Dubai Chamber of Commerce and Industry (DCCI) in its architecturally stunning headquarters overlooking the creek, is one of the power houses behind the growth pattern.
Abdul Rahman G Al Mutaiwee, director general, stresses the importance of a pro-active and balanced approach towards attracting investment in Dubai and developing trade relations outside of the Gulf. This approach towards global trading is backed by a high level research and studies department within the DCCI.
Al Mutaiwee views the forthcoming UAE in Libya exhibition to be staged in Tripoli as part of a government initiative to strengthen bilateral trading and cultural links. As well as DCCI, the Dubai Ports Authority, Jebel Ali Free Zone and the government's Department of Tourism and Commerce Marketing (DTCM) are backing the initiative.
The broad strategy is not only to target Libya but the whole of North Africa including Liberia, Dahomey and many other African states to create new trading and investment opportunities and new commercial linkages with Dubai as the regional hub.
With Dubai having competitive pricing and an increasing number of quality manufacturers (Jebel Ali Free Zone now has 1,800 companies), it is logical to assume that much of the procurement that currently takes place between North Africa and Europe could in fact be handled by Dubai.
Dubai with its proven trading and manufacturing expertise and ability to re-export a wide range of products makes it ideal as the hub for Africa. The city currently handles $17 billion in domestic imports per year and is reckoned to be the gateway to an annual market of $150 billion.
Thus being able to supply Libya and North Africa from Dubai makes sound economic sense. Rather than North African countries negotiating their way through the various requirements of European states in sourcing products which are available in Dubai.
In 1998, Libya's percentage share in Dubai's total export market was 0.23 per cent with a maximum of 0.6 per cent achieved in 1996. The potential for import and export through Dubai is enormous not only for consumer products but for the anticipated demand for infrastructural products for the petroleum and industrial sectors.
Dubai is now served by 170 shipping lines and more than 85 airlines. Expectations are high that the North African market will grow significantly in the years ahead.
It looks set to be another mutually beneficial relationship between Dubai and North Africa as business and trading opportunities increase within an open market environment.
