Category: English news

ABU DHABI, 3rd March, 2024 (WAM) — Economic officials have stressed the UAE’s significant role in supporting the free flow of trade and investment to drive global economic growth. They also highlighted the country’s commitment to strengthening international cooperation and building partnerships that promote development and prosperity.

In statements to the Emirates News Agency (WAM), the officials said that the UAE has succeeded in its endeavours over the past few years to expand its base of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth.

The UAE has signed 10 comprehensive economic partnership agreements (CEPA) with countries of strategic commercial and investment importance on four continents, representing a major expansion in the country’s foreign trade network.

The officials pointed out that the Abu Dhabi Ministerial Declaration, issued at the conclusion of the 13th Ministerial Conference of the World Trade Organisation (WTO), reaffirms the UAE’s leading efforts in strengthening communication bridges between WTO members and maintaining the momentum towards achieving a more prosperous and sustainable future for global trade. It also mobilises international consensus to achieve economic development.

The 13th WTO Ministerial Conference concluded after a week of intensive negotiations with the adoption of the Abu Dhabi Ministerial Declaration – a historic document that includes important new trade agreements and decisions that will expand the benefits of the global trading system to more countries around the world.

The Abu Dhabi Ministerial Declaration reflects the consensus of the global trade community on a series of key trade and development policies. WTO members agreed to implement special and preferential treatment for sanitary and phytosanitary measures and technical barriers to trade, which support producers in least developed countries (LDCs) to better access global supply chains.

Sanad Al Meqbali, Chairman of the Emirates Entrepreneurship Association, emphasised the UAE’s leading role as a key supporter of the free flow of trade and investment, as well as its position as a major contributor to stimulating international trade. He pointed out the UAE’s firm belief in the multilateral trading system, which is a driver of growth, development, and job creation.

Khaled Hanafi, Secretary-General of the Union of Arab Chambers, said that the UAE has succeeded in achieving major achievements in terms of the free flow of trade and investment between countries around the world. The UAE has also succeeded in becoming a pivotal centre for trade around the world, given its global competitiveness and investment attractiveness, he added.

Ahmed Al Wakeel, Chairman of the Federation of Egyptian Chambers of Commerce, said that the UAE has achieved a qualitative leap in the field of trade and investment, which has made it an important financial centre for investors in the region. He highlighted the UAE’s position as a preferred headquarters and centre for businesses due to the facilities and dynamics that the country provides in line with the changing global circumstances.

SHARJAH, 22nd January, 2024 (WAM) — Sharjah Chamber of Commerce and Industry and the Emirates Entrepreneurship Association discussed building a strategic partnership that involves organising joint forums and training courses to achieve the maximum possible benefits for young entrepreneurs in Sharjah.

The partnership would enable entrepreneurs to leverage the Association’s services alongside the training and advisory opportunities that the Chamber offers to the local business community through its various mechanisms and initiatives, including its SME support centre, Tijarah 101, its Youth Council activities, its programmes through the Sharjah Training & Development Centre, and other efforts that aim to develop the efficiency and excellence of the Emirate’s young entrepreneurs.

Discussions on the strategic partnership took place during a meeting held at the Sharjah Chamber, attended by Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber, Ibrahim Rashid Al Jarwan, Director of Economic Relations and Marketing at the SCCI, Jamal Saeed Buzangal, Director of the Media Department at the Chamber, and Mona Omran Ali Omran, Director of the SME support centre, Tijarah 101.

The delegation from the Emirates Entrepreneurship Association included three board members: Jamal Al Saeedi, Ahmed Al Raisi, and Ahmed Al Dhaheri. The two sides discussed advancing joint efforts that embody the Chamber’s commitment to playing a greater role in advancing the expertise of entrepreneurs when it comes to developing commercial ventures.

Abdulaziz Mohammed Shattaf stated that the Sharjah Chamber of Commerce and Industry (SCCI) is expanding its quality programme offerings for young entrepreneurs and start-up owners by building cooperation with the Emirates Entrepreneurship Association. This includes providing legal and administrative consultations, supporting participation in exhibitions and conferences, and engaging in international trade missions.

Mona Omran Ali Omran stated that the Sharjah Chamber of Commerce continues to support young entrepreneurs through programs and initiatives, particularly through the SME center, Tijarah 101, which provides support, guidance, and mentoring at the start of their entrepreneurial journeys. The SCCI also provides databases to connect entrepreneurs with peers in different countries to aid in the development of their activities and improve their offerings.

During the meeting, the SCCI highlighted the impact of its support to young entrepreneurs and how this enhances Sharjah’s entrepreneurial ecosystem and boosts the Emirate’s economic growth. The Chamber’s efforts in this sector, combined with those of other concerned entities, have led to the high number of entrepreneurial start-ups and young entrepreneurs in the Emirate, and raised the start-up investment volume.

Abu Dhabi, 16 June 2023 – Finance House LLC (FH), a leading United Arab Emirates lender, and the Emirates Entrepreneurship Association (EEA) have joined forces through a Memorandum of Understanding (MoU) to drive the growth and development of Micro, Small, Medium Enterprises (mSMEs) throughout the UAE.

The signing ceremony took place in Abu Dhabi, where Mr. Mohamed Abdulla Jumaa Alqubaisi, Founder of Finance House, and Mr. Sanad Al Meqbali, Chairman of EEA, represented their respective organizations.

This MoU harnesses the combined strengths of Finance House and EEA, leveraging their dedicated efforts in SME development and their expertise in providing diverse financial services.

Under this agreement, Finance House LLC, a subsidiary of the Finance House Group, will offer a range of financial facilities to EEA members, provide competitive deposit rates, and conduct awareness sessions on business finance.

The MoU reflects the Finance House’s unwavering commitment to supporting and nurturing entrepreneurship across the nation while highlighting the significant contributions of mSMEs to the UAE’s economic landscape.

Mr. Mohamed Abdulla Jumaa Alqubaisi, said, “We are delighted to embark on this collaboration with the EEA, as it solidifies our dedication to strengthening the UAE’s economic landscape. Finance House reaffirms its commitment to supporting entrepreneurs and propelling the mSME sector forward through this MoU. “

Mr. Alqubaisi added: “By leveraging our expertise and resources, we aim to create innovative financial solutions that empower businesses and drive significant growth in the UAE.

 Together with the EEA, we will shape a thriving ecosystem that fosters entrepreneurship and fuels the nation’s progress.”

Additionally, the EEA will introduce Finance House to its partners engaged in mSME development, providing opportunities to explore tailored financial solutions for mSMEs.

Chairman of EEA, Mr Sanad Al Meqbali, said: “We are thrilled to enter into this transformative partnership with Finance House. This MoU signifies our unwavering commitment to empowering entrepreneurs and driving the growth of mSMEs across the UAE.

By joining forces with Finance House, we can leverage their expertise and resources to unleash the mSME sector’s full potential, contributing to our nation’s economic prosperity. Together, we will foster an environment that nurtures innovation, encourages entrepreneurship, and propels the UAE to new heights of success. We noticed that some of the traditional financing solutions on the market are not meeting the challenges of entrepreneurs, and some business nature. With our partnership with FH, we believe that the solution of financing (on a need-based basis) will push up the mSME sector. And it’s the right product to solve a lot of entrepreneurs’ challenges.”

The Finance House eagerly anticipates the opportunities and impact that this MoU will create for mSMEs across the UAE.

Under the patronage of His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, the National Incubator Network Forum will take place in Abu Dhabi on 23 May 2023 at Bab Al Qasr Hotel Abu Dhabi.

Organised by philanthropic organisation Sandooq Al Watan, the forum will gather figureheads from the UAE’s business community, supporting growth of entrepreneurship in the emirate.

Abu Dhabi, UAE:- Emirati Entrepreneur Association (EEA) announced that it has signed a Memorandum of Understanding (MoU) with talabat UAE in a ceremony that took place during the Abu Dhabi International Food Exhibition held at the Abu Dhabi National Exhibition Centre. This MoU is part of EEA’s continuous efforts to promote entrepreneurship in the UAE.

The collaboration will allow Emirati small and medium enterprises (SMEs) in the food and beverage sector to display and sell food items on the talabat app. Additionally, it will enable entrepreneurs to expand their business by increasing their brand’s online visibility and reach through direct access to the platform’s large customer database and logistics network.

Under this MoU, talabat will grant eligible Emirati entrepreneurs a yearly contract that provides them with subsidized fees and special benefits, as well as a dedicated account manager for ongoing consultation and support as they start their online journey.

His Excellency Sanad Al Meqbali,  Emirati Entrepreneur Association Chairman: “SMEs represent a vital sector and a main catalyst for economic diversification and development in the UAE. We’re pleased to partner with the UAE’s leading online food delivery and q-commerce platform to provide their expertise, as well as mentorship and support to entrepreneurs, allowing them to increase their online presence and reach. The rapid growth of q-commerce in the region presents an opportunity for Emirati entrepreneurs in the food and beverage sector and we aim to provide entrepreneurs with the right tools to excel through our partnership with talabat. This is part of our commitment to fostering entrepreneurship, which is also in line with the UAE leadership’s vision.”

Tatiana Rahal, Managing Director at talabat UAE commented: “We are proud to partner with EEA to develop a specialized programme and extend our knowledge and expertise to help entrepreneurs accelerate their digital footprint commerce and increase their visibility and order volume. It is through such strategic collaborations with governmental entities that we are able to launch initiatives that support local talent, which play a key role in introducing innovative concepts in the market. We are glad to be in a position to utilize our technology in meaningful ways to empower Emirati businesses and we look forward to more fruitful collaborations.”

In a recent statement, the UAE’s Economy Minister, Abdullah bin Touq al-Marri, announced that SMEs account for 95 percent of the overall operating companies in the country.

Through its collaboration with talabat, EEA aims to build strategic partnerships to develop the Emirati entrepreneurship sector and equip SMEs with the tools and best practices to grow their business.

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https://www.zawya.com/en/press-release/companies-news/emirati-entrepreneur-association-and-talabat-uae-sign-mou-mdfpdx4u

In line with its commitment to support the Emirati entrepreneurial ecosystem and boost their contribution to UAE’s economic growth, the Emirates Development Bank [EDB] has received a high-level delegation from Emirati Entrepreneurs Association to discuss closer collaboration and accelerate support for Emirati start-ups and SMEs.

The Emirati Entrepreneurs Association delegation was led by Sanad Mohammed Al Moqbali, Chairman of the Association, and included Salah Al Kaabi, Executive Manager, Saeed Al Mansouri, Mohammed Al Hashemi, Emad Al Hashemi, Saleh Lootah, Abdullah Jankan and Walid Mohammed Sultan. EDB and the Emirati Entrepreneurs Association officials discussed strategies to support Emirati entrepreneurs and boost angel investments in the country to act as a catalyst to develop locally born start-ups into viable global ventures.

The EDB and the Emirati Entrepreneurs Association meeting reviewed the challenges faced by Emirati entrepreneurs and SMEs, including funding, and discussed opportunities where EDB could support the association members. This was a part of a series of meetings between the two entities to enable the Emirati entrepreneurs and SME ecosystem in the country.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB, said: “The Emirates Development Bank is committed to not only support Emirati entrepreneurs and SMEs in line with the UAE leadership’s vision to diversify the country’s economy, but to aid the country’s mission in being the number one start-up ecosystem in the world. As part of this, EDB is delighted to collaborate with the Emirati Entrepreneurs Association on supporting the startups and SMEs owned and managed by UAE Nationals and helping young businesses grow and reach their full potential, in turn enabling them to contribute to economic growth and employment opportunities.”

Al Naqbi added that the discussions stems from EDB’s proactive approach with its stakeholders to listen to their concerns and challenges, to tailor products and solutions for them to meet the objective of the bank to advance impact across the UAE’s start-up and SME ecosystem, strengthening the UAE’s position as a platform for growth in the region.

“Through these meetings, we look at discussing the challenges that Emirati SMEs and entrepreneurs face and by way of this collaboration, we aim to grow the entrepreneurial ecosystem and drive industrial growth in the country for the next 50 years,” he said.

Speaking at Calcalist and Bank Leumi’s “Economic Opportunities in the UAE” online conference, Sanad El Meqbaly tells Sophie Shulman what the UAE is looking for in an Israeli business partner.

Chairman of the Emirati Entrepreneur Association Sanad El Meqbaly joined Calcalist this week to discuss the normalization ties between the UAE and Israel. Speaking with Calcalist’s Sophie Shulman, he revealed that discussions for future partnerships are already well underway.“We are open to small and medium businesses, but also large companies,” Meqbaly said. “Any company can come set up here. I already see Israeli companies in innovation, real estate, oil and gas… I think those sectors will be a big success.”Since the normalization ties were officially finalized in the Abraham Accords, businesses in both the UAE and Israel have been eagerly establishing relationships for future collaborations. Meqbaly shared that he is already speaking with two different Israeli companies in the cyber and technology space, although he did not reveal which ones.The Emirati Entrepreneur Association supports entrepreneurs in the UAE. Its goal is to support entrepreneurs, raise awareness for them, and elevate their voice in the business and economy space.

https://www.calcalistech.com/ctech/articles/0,7340,L-3868573,00.html

BEIJING, (WAM) — The Emirati Entrepreneurs Association and The Chinese Trade Council have agreed to reinforce cooperation with regard to SMEs in the coming period.

Discussions were held in this regard between Sanad Al Miqbaly, Chairman of the Emirati Entrepreneurs Association, and officials in the Chinese Trade Council in Beijing, during his participation in the Emirati-Chinese Economic Forum.

In an exclusive statement to the Emirates News Agency, WAM, Al Miqbali said that the talks with the Chinese Trade Council were meant to reinforce trade and benefit from the council with regard to the support for Emirati SMEs. They have agreed to connect the SMEs to the e-platform of the Chinese Council that has 180,000 members, he stated.

The two sides will sign a cooperation agreement in the future, he added.

The Emirati Entrepreneurs Association aims to serve and support SMEs owned by entrepreneurs of both genders and youths who own businesses, and help them succeed.

WAM/Rasha Abubaker

http://www.wam.ae/en/details/1395302776751

ABU DHABI, 22nd June, 2019 (WAM) — The Khalifa Fund for Enterprise Development, KFED, has recently awarded the Emirati Entrepreneurs Association, EEA, with a package of quality support programmes, including financial and technical support. The package will be used to support Emirati entrepreneurs’ skills and capacity development and creation of a suitable environment where their business projects could flourish.

Commenting on the announcement, Mouza Al Nasri, Acting Chief Executive Officer at Khalifa Fund, said, “We consider the Emirati Entrepreneurs Association our strategic partner. We vow to cooperate and work with the Association to promote entrepreneurship and the small and medium enterprise, SME, sector in the country.”

Al Nasri said that the KFED provides various forms of support to Emirati entrepreneurs including facilitating their participation in local and international exhibitions and forums as well as giving them exemptions and priority in government procurement processes. The Fund also supports its beneficiaries with access to consultation services and advanced training programs to help them enhance their business abilities and sharpen their skills to resolve challenges every step of the way, from conception to execution of their projects and beyond.

Al Nasri met with Sanad Al Meqbali, Chairman of the Emirati Entrepreneurs Association, in the presence of Khaled Al Fahim, Secretary of the Association, and the Fund’s other senior officials. During their meeting, Al Nasri underscored that communication and cooperation between the two parties are vital to provide the SME sector in the UAE with the best services. She also assured that the organization would work to convey the opinions, suggestions, concerns, and needs of UAE entrepreneurs to concerned federal and local entities.

Al Meqbali thanked Khalifa Fund for the financial and technical support it provided for the Emirati Entrepreneurs Association, saying that it will enable the Association to efficiently implement key initiatives aimed at enhancing the culture of entrepreneurship in the country and empowering local entrepreneurs. Al Meqbali noted that they have been able to implement many successful and influential initiatives and programs despite its limited financial resources.

He explained that the EEA aims to attract aspiring young UAE entrepreneurs as it encourages them to initiate quality projects with strong economic impact across various fields. He also pointed out that the Association’s main objective is to provide technical, administrative, and advisory support to entrepreneurs through offering them a range of training courses to develop their abilities.

Also, he said that the EEA seeks to develop the local SME sector by strengthening its relations with the public and private sectors and helping unify their efforts to improve the level of non-financial support to entrepreneurs.

The Emirati Entrepreneurs Association was officially registered in 2014 with support from Khalifa Fund to help encourage and coordinate joint efforts across local entrepreneurs and SMEs, including the adoption and implementation of innovative initiatives and activities.

WAM/Nour Salman

http://www.wam.ae/en/details/1395302769417

ABU DHABI, (WAM) — Emirati Entrepreneurs Association and the Executive Council of Young Businessmen in the East in Saudi Arabia have signed a Memorandum of Understanding, MoU, in order to promote joint cooperation to develop appropriate and healthy working environments for young entrepreneurs in both countries.

The MoU was signed at the headquarters of the Khalifa Fund for Enterprise Development by Sanad Mohamed Al Meqbali, Chairman of Emirati Entrepreneurs Association and Musaed Zamel Al Zamel, Chairman of Executive Council of Young Businessmen in the East in Saudi Arabia in the presence of a number of entrepreneurs and officials from the Khalifa Fund.

The memorandum provides exchange of features and services offered to members of both sides of the facilities and technical support. It is also considered as a framework for joint action between the parties, determines the ways of cooperation and exchange of information and experiences that will support and enhance the work environment and create a climate for the success and development of small and medium enterprises in both countries.

After the signing ceremony Mr. Al Meqbali said, “This agreement is the first step for wider collaboration with Executive Council of the youth of Eastern businessmen in Saudi Arabia.”

“The Executive Board of the young people of Eastern businessman has a good experience and expertise can benefit from them, especially in the field of building a network of relationships between entrepreneurs and to unite their efforts in facing market challenges,” he added, pointing out that Emirati Entrepreneurs Association will continue to support the establishment of self-employment and continuity and exchange of experiences in the field of youth work business councils in various countries around the world.

“The agreement is aimed at exchanging experiences and learn about the programmes of the members of the Young Businessmen Council in the UAE, and to find a mechanism to stimulate the participation of the Saudi’s youths in events held in the UAE, as well as to invite other youths in the UAE to participate in the activities of the Council,” said Mr. Al Zamel.
WAM/AAMIR/Moran

http://www.wam.ae/en/details/1395278274446