Abu Dhabi gears up for global investment surge

Abu Dhabi could be set for a huge surge in foreign investment following a flurry of signed agreements between the Emirate and several leading international organisations.

Last week, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) agreed Memorandums of Understanding (MOUs) with the Bid8.com, a China-based online search company that facilitates international trade and worldwide communications group GlobalFluency. The ADCCI also signed MOUs with the British Business Club (BBG) - the UK's biggest independent business club and international networking group, the CEO Club.

Colin Wu, president of Bid8.com, told Arabian Business: "We have 500,000 members in China and we have agreed to promote Abu Dhabi as a destination for Chinese investment.

"In many areas China and the UAE can work together, especially in trading, commodities and shipping and I believe Chinese businesses could use Abu Dhabi as a gateway to sell their products in the Middle East, Southern Europe and Northern Africa," he added.

Bid8.com, which aims to recruit UAE-based members, facilitates global trade by providing procurement information to international suppliers and integrated purchasing services for buyers worldwide. Meanwhile, GlobalFluency - a public relations specialist that has offices in over 50 countries across the globe - will play an active role in promoting Abu Dhabi as a business destination.

Mark Clemente, senior vice president of GlobalFluency said: "Once we initiate the relationship [with Abu Dhabi] we will start to explore what their growth objectives are from a promotional and an economic development standpoint.

"In the months ahead, once we learn about these objectives, we will be developing specific communications strategies to help promote Abu Dhabi."

GlobalFluency founded and operates the CMO Council, an international networking group of more than 2500 marketing executives. With over 7000 UK-based members and 4000 from overseas, the BBG will be looking to increase trading ties between British business and Abu Dhabi. Roger Ellis, corporate director of the BBG, said: "We think there are great opportunities to partner with other organisations around the world and obviously we are delighted to be associated with Abu Dhabi."

The CEO Club is a global networking body for executives that aims to introduce its members to international markets. The MOU with the ADCCI will allow the group to set up in the UAE capital, adding to its current list of chapters that includes China, India, the UK and Japan. The four MOUs were signed during the World CEO Forum held in the UAE.

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