Business Emirates # 12 (January - Februaty 2007) - page 94

industrial goods here these regions represent
almost 3billion consumers.
Certainly, Ukrainianmanufacturers should
not neglect such capaciousmarket. That is
why they useUTC services tohelp themopen
their representative offices inUAE and establish
direct connectionswith local businessmen. So
far, these companies are not numerous, but
they have become the pioneers and acquired
advantages over othermanufacturers of similar
products fromUkraine.
International analysts note that UAEoperates
inoneof themost liberal trademodes in the
world, which actively attracts foreign capital.
This fact partly explains the constructionboom
that is happening in the countrynow. According
to the studies performedby the International
Economic Forum, Emirates areon the top20 list
of competitiveeconomies in theworld (and1st
place among all Arab countries). UAE reached
suchgrowth resultsmainlydue to theefforts
of thegovernment ondevelopment of unique
opportunities for business development in the
country. Thehighestimates of international
organizationswitness that the level of economic
andpolitical stability inUAE is thehighest in
the region. Leadershipof the Emirates realized a
simple truth: business (especially largebusiness)
is harmedby instability.
Other achievements of UTC include the
signingof agreement between the Fundof
Investments andPrivatizationAssistance in
Ukraine (FIPA) and theDirectorateof the Free
EconomicZone in Jebel Ali (Emirateof Dubai).
Now, thisUkrainian company represents the
interests of Jebel Ali inUkraine, aswell as
interests of all companies registered there (5
thousandworldwide known companies).
Over the short time of work as the
representative of Jebel Ali, FIPAhas already
helped several Ukrainian enterprises become
full members of the exclusive economic
community located inDubai Emirate. Now
theseUkrainian companies are engaged in
successful trade not onlywithUAE but alsowith
other countries of theMiddle East.
SITUATIONONTHEMARKETOFUKRAINE
Latest data received as a result of Ukraines
market research indicate the significant
accelerationof the rate of economic growth
manifested in steady increase of invested
capital. According tomost forecasts, this
tendency is going tobemaintained in the
future. Also, the leadershipof the country has
demonstrated its firm intentions to accelerate
structural reforms andput the focus on
stimulationof investment activities.
Development of positive investment
climate is possiblyoneof themost important
goalsUkraine is facing. It is crucial touse the
opportunities that nowbecame availabledue to
favorabledomestic conditions and improvement
of themacroeconomic situation. Ukraineneeds
larger investments to replace theoutdated
fixed assets and support economicgrowth
major part of the required investment couldbe
providedby foreign investments.
UkrainianTradeCenter helpeddevelop a
regular launchpad fromwhich the companies
fromUkraine andGulf countries could start their
mutuallybeneficial business relations andwhere
they can solve anyproblems thatmayoccur.
/ Sergey PACHKOVSKIY,
Director General, Ukrainian Trade Center
for Gulf Countries /
At theUTCstandonLeaders inDubaiBusinessForum2006
SergyiPachkovskyiandSaeedS.Khalfan,
ChairmanofGroupCompanySSK
USSecretaryCollinPowellandPresidentof
UkragrokimholdingCorporationSergyi Leskovskyi
by
RUSSIAN EMIRATES
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