» Home » Business News Iraq Directory Services Plans Subscription Contact us Site Map Help About Iraq Trade between UAE and Iraq likely to touch Dh3b Trade between the UAE and Iraq could reach the Dh3 billion mark by the end of the current year, according to a top Dubai government official. General cargo exported through the Dubai Ports Authority (DPA) to Iraq rose to 408,600 metric tonnes last year, up from 343,900 tonnes in 2002. The full year forecast for this year stands at 611,600 metric tonnes. Abdul Rahman Ghanim Al Mutaiwee, director general of the Dubai Chamber of Commerce and Industry (DCCI), said: "Most of the trading activities between Iraq and the UAE are taking place through Dubai, being the trading hub of the region. The phenomenal growth in non-oil trade between Dubai and Iraq last year reached Dh2.2 billion, reflecting the high mutual level of interest in developing economic relations. "This year, we expect over 30 per cent growth in our non-oil trade with Iraq." He was speaking at a two-day conference on Renewal and Reconstruction in Iraq currently being held in Dubai, which attracted over 100 Iraqi delegates. He informed the Iraqi businessmen of the DCCI's initiatives in facilitating trade and investment. "We have encouraged Iraqi businessmen to set up the Iraqi Business Council (IBC) in Dubai, which is the largest business grouping of Iraqi traders outside Iraq. The IBC in cooperation with Dubai's business community could play a vital role in improving bilateral trade between the two economies." According to the DPA, ro-ro units exported to Iraq through Dubai's ports rose to 43,252 units last year, up from the previous year's 8,576 units in 2002. "This year, we expect this to reach 89,942 units," said Jamal Majid Bin Thaniah, DPA chief executive. "The number of Iraqi-owned companies positioned in the Jebel Ali Free Zone (Jafz) have gone up to 350 this year, compared to 41 last year, reflecting the interest of the Iraqi businessmen in investing in Dubai." He said, DPA has bid for the Iraqi ports' management contract. Source : www.gulf-news.com © 2002-2004 Iraq Directory - All Rights Reserved