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Dubai-Lyon chambers enter new partnership deal.

HE Eng Hamad Buamim, Director General, Dubai Chamber of Commerce & Industry, and HE Guy Mathiolon, Chairman, Lyon Chamber of Commerce and Industry, signed an Agreement of Cooperation during the visit of the French delegation to Dubai Chamber on Wednesday. The meeting, seen as a means of strengthening French-Emirates business ties, was also attended by Mr Gerard Collomb, Lord Mayor of Lyon City and officials of Dubai Chamber.

Buamim said, "The signing of the Agreement of Cooperation will further help both Dubai and Lyon to meet the challenges posed by the modernisation and globalisation of markets and to position themselves as leading players in terms of sustainable development. This new partnership strategy based on economic cooperation will enable both the sides to pursue campaigns in building business networks and promote newer ties between economic organisations and business communities."

Added Buamim, "This meeting today provides a platform for the Lyon businessmen to know more about the business environments and opportunities available in Dubai as the Chamber is extremely committed to extend all possible assistance and facilities to our business partners in setting up direct businesses and joint ventures in this fastest growing city of the world."The Agreement further stresses the need to generate effective economic partnerships, training and exchange of best practices about trade and customs legislations in both countries, besides participation in trade fairs and economic conferences and shows on economic themes by both the sides. It also stresses the need to set up an ad hoc steering, events and follow-up committee to examine the extent to which the provisions of this agreement

are being realised.Dubai's total non-oil foreign trade with France reached over AED 11 billion in 2007 as there are 309 French companies registered at Dubai Chamber and operating in the emirate. An earlier MoU signed between the French Riviera Chamber of Commerce and Industry and Dubai Chamber in 1999 is already playing a significant role in attracting more French companies to Dubai as the signing of this new trade agreement with the Lyon Chamber of Commerce and Industry is expected to pull in more trading partners from this emerging regional trading hub of Europe.

HE Guy Mathiolon, Chairman, Lyon Chamber of Commerce and Industry, expressed his Chamber's interest in enhancing mutual cooperation between Lyon and Dubai and to open new channels of communication between the members of their chambers. He pointed out that the Agreement of Cooperation signed by the two chambers would largely help develop bilateral economic relations between the business communities in both countries.

The delegation also proposed the opening of an affiliated wing of the University of Lyon in Dubai and invited Dubai Chamber officials to visit Lyon in order to take the two cities' relationship to the next level.

The Lyon region is an economic powerhouse of European stature and is France's second-largest business capital after Paris. The City works in partnership with local French public organisations to facilitate the creation and relocation of businesses to the Lyon area: ADERLY (the Lyon Area Economic Development Agency), the Lyon Chamber of Commerce and Industry, and the Greater Lyon Urban Community.

The Lyon region has a long tradition of economic and technological initiative. Though all industries are represented, special mention should be made of areas in which Lyon enjoys an international reputation: engineering, textiles, chemicals, pharmaceuticals and health.

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Date:May 1, 2008
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