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23 July 2024

Dubai to host CBC summit

By Wam

Financial services company Dubai Group is linking up with the Commonwealth Business Council (CBC) to host a summit next month.

The event in Dubai will examine the role of the emirate and the Middle East in promoting economic development and will bring together high-profile delegates from all over the world. Guests will include the prime minister of Mauritius, Egypt's minister of trade and industry, Tanzania's minster for finance and economic affairs, India's minister of trade and commerce and Malaysia's minister of international trade and industry.

The high-profile international gathering, which will run from February 4 until 5, is expected to attract other senior representatives of governments and businesses in Asia, the Middle East, Africa, and the Americas.

"Dubai Group has investments in Africa and looks to build upon its current knowledge base," said Executive Chairman Soud Ba'alawy. "We look forward to engaging with experts and leaders from the region, especially now when the world economy is looking for a new direction."

Council CEO Dr Mohan Kaul said: "We are delighted to be working with Dubai Group on this event. The Commonwealth is an influential economic bloc accounting for over 20 per cent of global trade. This initiative will look at expanding ties with the Gulf region and Arab World.

"The participation of so many senior government and private sector leaders indicates the importance of exploring new business partnerships."

The summit will address how emerging markets can increase investment inflows, trade and capacity in sectors that allow them to create a sustainable competitive advantage.

It will also address the subject of financing for infrastructure development, as well as key issues or resource mobilisation, managing food price rises and the role of business organisations in supporting the United Nations Millennium Development Goals.

The Commonwealth Business Council works towards removing trade barriers, encouraging investment in Commonwealth countries, fostering a good environment for business and investment, promoting good practice in corporate governance and corporate citizenship.

The council also works facilitating the engagement of the private sector in information and communication technology for development initiatives.

Dubai Group is part of Dubai Holding.