The ICC Banking Commission meeting, organised and hosted by the Dubai Chamber of Commerce and Industry in partnership with the International Chamber of Commerce, concluded on Wednesday with finance and trade delegates coming up with constructive recommendations.
Held from April 27-30 at the Chamber headquarters under the title ‘Dubai 2014-Gateway to Sustainable Trade and Development’ the meeting was a hit with over 427 attendees from 60 countries. The delegates consisted of the World Bank, World Trade Organisation, business leaders, finance experts, lawyers, government and ICC UAE Regional Banking Commission officials, who succeeded in their objective of forging new business partnerships and alliances by developing connections and sharing ideas.
The discussion topics focused on issues such as the new engines of growth in trade finance, value creation opportunities and prospects for the industry as well as the harmonisation of business practices, the development of a common terminology for supply chain finance, and the impact of compliance requirements and sanctions on business.
Hisham Al Shirawi, second vice chairman, Dubai Chamber, expressed his pleasure in the Chamber’s hosting of the ICC Banking Commission bi-annual meeting in Dubai for the second time.
“Our partnership with the ICC Banking Commission is excellent and this global event has helped Dubai forge a very strong relationship with the ICC Banking Commission and the delegates coming from all over the world. We hope, by hosting this prestigious conference we are able to highlight the city’s advantages for the global trade, banking and finance communities,” said Al Shirawi.
He further stressed that business and consumer confidence in Dubai is currently very strong and it will continue to rise with the impetus of Expo 2020. Trade contributes 30 per cent to GDP and providing trade finance services that meet the needs of the rapidly changing world is important for Dubai’s future growth, he added.
