"Together" Initiative

Federation of UAE Chambers and International Development Bank launch “Together” initiative to support partnerships

The Federation of UAE Chambers and the International Development Bank - UAE launched a new initiative from Sharjah, aiming to support and empower the UAE and Iraqi private sectors and encourage them to develop their businesses by establishing a leading platform to build mutual relations, increase opportunities for cooperation and exchange of expertise and knowledge in various fields of finance and investment with the Republic of Iraq.

This initiative came in accordance with a memorandum of understanding concluded between the Federation of UAE Chambers and the International Development Bank - UAE, signed on behalf of the Federation by Humaid Mohammed bin Salem, Secretary-General of the Federation of Chambers, while Dr. Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, signed on behalf of the bank, in the presence of Abdullah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers, Chairman of the Sharjah Chamber of Commerce and Industry, and Mohammed Ahmed Amin Al Awadhi, Director General of the Sharjah Chamber.
The initiative was named "Together" in honor of the deep historical relations between the United Arab Emirates and the Republic of Iraq, especially in the field of trade and business, and the phrase "Together" means walking together towards creating unique and sustainable partnerships between the UAE and Iraqi private sectors by seizing the best investment opportunities.

His Excellency Abdullah Sultan Al Owais said: The Memorandum of Understanding represents one of the many means of distinguished cooperation between the Federation of UAE Chambers, the official representative of the UAE private sector, and the International Development Bank, due to the role played by each party towards the business community, its activities and sectors, as the implementation of this memorandum will contribute to unifying the various fields of financing and investment. He expressed his happiness and hope that this step will represent a qualitative leap followed by other steps that enhance the quality of institutional performance and its services, in order to enhance the positive partnership in confirming the ability and attractiveness of the business environment in the two countries to provide facilities and incentives for establishing and developing investment projects for the private sector, and to always make the UAE and Iraq a successful model in the field of business.

Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers, stressed that this memorandum is the culmination of the positive results of the trade mission to the Republic of Iraq during the past month of May. Therefore, we look forward, through our strategic partnership with the International Development Bank, to supporting the efforts of the Emirati and Iraqi business sectors, and providing them with all the tools and knowledge necessary to develop and succeed in their businesses, which is one of the main responsibilities on which the Federation of UAE Chambers is based. For his part, Dr. Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, stressed the importance of this initiative with the Federation of UAE Chambers, which reflects the commitment of the International Development Bank to increase opportunities for cooperation and exchange of expertise and refine them in various fields of finance and investment with the Republic of Iraq, and the pivotal role played by the bank between the concerned parties in the UAE and Iraq based on encouraging investments and supporting the movement of inter-trade, which was initially represented by the opening of the International Development Bank branch in the Emirate of Dubai, expressing his pride and appreciation for it, as the International Development Bank is the first Iraqi bank operating in the UAE in the capital of finance and business, Dubai. Khalaf added: “We strive at the International Development Bank to enhance cooperation with national institutions in the UAE, including the Federation of UAE Chambers, to achieve our common goals, which are manifested in consolidating the distinguished strategic economic relations between the Republic of Iraq and the UAE.

This is through the “Together” initiative to support partnerships that will benefit the Iraqi and Emirati business community in the fields of finance and investment. This is a goal that we all seek to achieve within the framework of partnerships that bring together business owners and investors from the two brotherly countries, and in confirmation of the major role played by the Emirati business sector in supporting the Iraqi business sector. Khalaf thanked the brothers and sisters in the Federation of UAE Chambers and extended his thanks to His Excellency Abdullah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers, Chairman of the Sharjah Chamber of Commerce and Industry, and His Excellency Humaid Mohammed bin Salem, Secretary-General of the Federation, for providing this opportunity to cooperate together in order to provide the best services to business owners and achieve the desired sustainable partnerships in both countries.