Tag Archives: trade

China’s Belt and Road initiative is expected to have major implications on trade and investment flows among Muslim countries, according to panellists addressing the topic at the Global Islamic Economy Summit 2018 (GIES) in Dubai. Entitled ‘One Belt, One Road, – How Might We Harness the Silk Route for the Islamic Economy?’, the panel highlighted the unprecedented opportunities for the Muslim nations that are located along the New Silk Road and examined the new growth opportunities that are opening up as the major infrastructure project progresses. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, the UAE and Ruler, Dubai, the fourth edition of GIES is organised by Dubai Chamber of Commerce and Industry and the Dubai Islamic Economy Development Centre in cooperation with Thomson Reuters as strategic partner. Held from October 30-31, 2018, GIES attarcted the participation of over 3,000 key decision makers, policymakers, government officials, business leaders and industry experts from around the world. Launched by Chinese President Xi Jinping in 2013, Belt and Road aims to improve connectivity and cooperation between Eurasian countries. During the session, Professor Nabil Baydoun, Vice Chancellor, Academic Affairs Hamdan Bin Mohammed Smart University, Dubai, spoke about the geographical importance of what is a new ‘Silk Route’ and how the project is an integral part of the Chinese plan for their economy. “It helps China increase trade among 65 countries and its biggest advantage is that it brings China closer to the world. Each nation needs to step up and play a part in working towards Belt and Road. Chinese regulations need to open the door to the world,” he said. Professor Wang Yiwei, …

The State Government of Victoria is celebrating 20 years of trade and tourism ties with the Middle East region. The Australian state set up its Victorian Government Business Office (VGBO) in 1997 to forge and strengthen trade and investment ties with the region, which two decades later has seen Victoria’s annual exports to the Middle East and North Africa (MENA) region grow to AUD$ 2.49 billion (US$ 1.85 billion). Tourism and aviation links between Victoria and the region have also multiplied over the years, with Emirates Airline, Etihad Airways and Qatar Airways all flying daily to Melbourne. Emirates Airline has had a long-term relationship with Melbourne, having sponsored the famous Collingwood Football Club and the Emirates Melbourne Cup, the flagships among a portfolio of key partnerships in the state. Etihad Airways also has a strong connection with Melbourne, which is home to Australia’s Etihad Stadium, and has seen the UAE’s national carrier become the lead sponsor of Melbourne City Football Club.