Sharjah and Romania explore new avenues of economic cooperation
Sharjah Chamber discusses potential opening of Romanian Representative Office in the emirate to boost investment climate and strengthen mutual trade cooperation
The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with a Romanian diplomatic delegation, exploring opportunities to strengthen economic cooperation and boost trade. Both sides also discussed the potential establishment of a Romanian trade representative office in Sharjah to stimulate joint investments and promote participation in events and exhibitions in the emirate.
Abdullah Sultan Al Owais, Chairman of the SCCI, welcomed the Romanian delegation led by Bogdan Octavian Badica, Ambassador of Romania to the UAE.THE two parties addressed the feasibility of organising joint economic events to showcase available investment opportunities. They brainstormed on leveraging each country’s expertise to establish joint investment projects, thereby facilitating sustainable growth in both economies.
The meeting, at the SCCI’S headquarters, was atended by Abdul Aziz Shataf, Assistant Director-general for the Communications and Business Sector; Jamal Saeed Buzangal, Director of the Media Department, and Fatima Khalifa Al Muqarrab, Director of the International Relations Department, SCCI.AL Owais emphasised that such a diplomatic visit would catalyse new opportunities to bolster bilateral economic relations between the UAE and Romania. It is expected to atract
Romanian investors and entrepreneurs to Sharjah and pave the way for joint ventures, thereby increasing trade activity between the two countries.
Welcoming Romania’s interest in Sharjah and sharedinvestment,alowaisaffirmedthechamber’s commitment to providing comprehensive support to Romanian investors in the emirate, streamlining the capital transfer process for investment, and enhancingtheexistingeconomiccooperationrelations, adding that Romania represents a promising marketandtheuae-romaniaeconomiccooperation relations are experiencing continuous growth.he stated that the non-oil trade exchange between the UAE and Romania had witnessed significant growth, amounting to approximately $1.01 billion in 2022, an impressive 82 percent increase compared to the previous year. Simultaneously, the UAE’S total non-oil exports to Romania stood at an estimated $66 million in 2022, demonstrating a substantial growth rate of 79 per cent compared to 2021.
This indicates positive economic relations between the two nations.badica stated that this visit reflects Romania’s interest in the UAE, particularly in the Emirate of Sharjah.”we have a strong desire to invest and establish our presence in Sharjah’s markets, especially in sectors such as manufacturing, food industries, and aviation,” he said.during the meeting, Badica highlighted the benefits of investing in Romania, urging Emirati companies to expand their investments and strengthen their presence in his country to foster new avenues of cooperation and support the growth of reciprocal investments. This progress, he asserted, would be bolstered by the support and patronage of the leadership in both nations.
Themeetingincludeddiscussionsonestablishing a new basis for cooperation, such as organising a seminar on investment opportunities and a specialised Romanian exhibition showcasing various industrial and commercial sectors at the Expo Centre Sharjah.additionally, potential cooperation with Air Arabia was discussed to evaluate the potential of launching a direct flight route between Sharjah and Romania.
TRADE MISSION TO INDIA: The Sharjah Chamber of Commerce and Industry will embark on a trade mission to India on May 29, 2023 (Monday) to explore investment opportunities between the two nations and discuss potential areas for mutual cooperation.
Organisedbythesharjahexportsdevelopment Center (SEDC), Abdullah Sultan Al Owais, Chairman of the SCCI, will be leading the mission, which is scheduled to run until June 2.
Other officials joining the delegation include Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Board of Directors, SCCI; Ahmed Mohamed Obaid Al Naboodah, Board Member, SCCI; and Abdulaziz Mohammed Shataf, Assistant Director-general of the Communication and Business Sector at the Chamber; as well as a contingent of leading manufacturers and traders from the emirate.
Thehigh-profiledelegationwillvisitmumbaiand New Delhi, seting up business forums and arranging meetings with Indian business communities to explore investment opportunities and foster joint economic partnerships.
While atending these forums and meetings, the SEDC delegation will highlight the benefits and opportunities of investing in Sharjah, detailing the incentives and facilities available to foreign companies wishing to establish businesses in the emirate.
Moreover, the delegation will encourage the Indian business community to invest in sectors that alignwithsharjah’seconomicvision,thussupporting its drive towards sustainable development across various sectors. The trade mission reflects the chamber’s commitment to serving the business community, augmenting their operations, and bolstering the export of industrial and commercial facilities within the emirate of Sharjah.