Meena - Business News - May 29, 2024 - Vol (51)
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Overview:
As a part of our services we provide through Meena Business Consultancy Services, Our team in here are dedicated to delivering customized market insights, business intelligence, and updates on tenders and business opportunities from prominent regions such as Iraq, Kingdom of Saudi Arabia, UAE, Qatar and Pakistan. Additionally, we provide an updated list of fairs and exhibitions in these countries to facilitate our partners in making well-informed strategic decisions.
Our commitment extends to meticulous research and analysis, enabling us to offer actionable recommendations and guidance. Leveraging our extensive network and expertise, we identify opportunities, assess strategies, and mitigate risks. Upholding the values of professionalism and confidentiality, we aspire to be a trusted advisor, empowering businesses for sustained success and growth within their respective regions.
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IRAQ:
Launch of BVMW Iraq Representation Marks Milestone in cross Border SME Collaboration - May 11, 2024
In a momentous event aimed at fostering economic partnerships and bolstering trade relations between Iraq and Germany, the German Association for Small and Medium-sized Businesses (BVMW) announced the commencement of activities for its Iraq Representation. The ceremony, held at the Babylon Hotel in Baghdad, brought together distinguished dignitaries, honored guests, and prominent business leaders to mark the occasion.
Led by Nisrin Khalil, the BVMW Iraq Representative and Owner of Meena Business Consultancy Services, the event underscored the significance of collaboration between the two nations in driving economic growth and innovation. Khalil, in her address, highlighted the important role of SMEs in both the German and Iraqi economies, emphasizing their contribution to job creation, innovation, and economic resilience.
The ceremony was graced by the esteemed presence of H.E. Ambassador Christine Hohmann, whose support for the initiative was deeply appreciated. Also in attendance was Mr. Mohmmed al Najjar, Advisor to the Prime Minister for the Iraq Development Fund, reflecting the Iraqi government's commitment to fostering economic partnerships with international counterparts.
One of the key highlights of the event was the collaboration between the BVMW Iraq Representation and The law firm Al Muhamoon al Mutahiddon, led by Senior Attorney and Managing Director, Mr. Muqdad Sami Al Juboori. Their partnership exemplifies the commitment to facilitating business opportunities and promoting entrepreneurship in Iraq by providing legal and tax advice to foreign companies.
BVMW, renowned for their advocacy and support for SMEs, aim to serve as a one-stop-shop for companies in Iraq, facilitating international trade and investment. Through initiatives such as business networking, digital introductions, and export loan assistance, the BVMW seeks to enhance collaboration between Iraqi and German businesses, making the process faster, more efficient, and cost-effective.
As part of its mission, the BVMW Iraq Representation is poised to address key challenges and explore opportunities for mutual growth and prosperity. Suggestions put forth include finalizing bilateral investment protection treaties, ensuring state guarantees for financial support, and establishing joint trade and investment commissions to enhance bilateral relations.
The establishment of the BVMW Iraq Representation signifies a significant step forward in fostering economic partnerships and driving progress in both nations. With its focus on collaboration, innovation, and entrepreneurship, the BVMW Iraq Representation is poised to play a pivotal role in shaping the future of economic relations between Iraq and Germany.
For further information and inquiries, please contact:
Visit: https://www.bvmw.de/en/
Stay tuned for more updates on the exciting developments and initiatives from the BVMW Iraq Representation as it continues to spearhead efforts to strengthen economic ties and promote prosperity
Baghdad Calls for Meeting to Resume Kurdistan Oil Exports
The Iraqi Ministry of Oil is prioritizing resuming oil production in Iraqi Kurdistan and exporting through the Iraq-Turkey Pipeline. It has invited the Kurdistan Ministry of Natural Resources and international oil companies to discuss an agreement. The Association of the Petroleum Industry of Kurdistan welcomes these discussions.
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Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
KINGDOM of SAUDI ARABIA:
Firms submit Saudi Ceer automotive supplier park bids
Ceer, Saudi Arabia's electric car manufacturer, has received bids for constructing an automotive supplier park next to its EV production facility in King Abdullah Economic City. The 24-month project involves multiple international suppliers and aims to support Ceer's EV production. Ceer vehicles are expected to be available from 2025.
Riyadh plans new Aramco share sale in June
Saudi Arabia plans to raise up to $10 billion from a new Aramco share sale, potentially as early as June. This sale would involve offering about 0.5% of Aramco shares, given its $2 trillion valuation. The Saudi state currently owns 82.186% of Aramco, following recent share transfers.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
UNITED ARAB EMIRATES:
Jindal confirms hydrogen-ready DRI orders with Danieli
Jindal Steel & Power plans to build a green steel production hub in Oman with a capacity of 7.5 million tonnes per year. The facility, set to open by 2026, will feature hydrogen-ready direct reduction iron plants and utilize green hydrogen. An investment of up to $3 billion is announced.
DMCC announces W Residences in Jumeirah Lakes Towers
Dubai Multi Commodities Centre (DMCC) and Signature Developers announced W Residences, a 32-storey tower with over 200 apartments in Jumeirah Lakes Towers, set to begin construction by the end of 2024. This partnership follows previous successful projects and highlights demand for premium properties. DMCC's Uptown Dubai phase two, featuring commercial and retail space, is also progressing.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
QATAR:
QatarEnergy and partners award Brazil project contract
QatarEnergy and its partners have decided to expand Brazil’s Sépia offshore oil field, awarding a contract for a new floating production storage and offloading (FPSO) unit. The FPSO will produce 225,000 barrels of crude oil and process 353 million cubic feet of gas daily. This expansion aims to reduce greenhouse gas emissions by 30% per barrel of oil equivalent.
QatarEnergy signs urea supply deal with US firm
QatarEnergy has secured a 15-year agreement with Koch Fertilizer to supply up to 740,000 tonnes of urea annually, starting in July. This urea will be distributed to the US and international markets. Additionally, Qatar is developing the world’s largest blue ammonia facility, operational by early 2026.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
PAKISTAN:
UAE commits to $10bn investment in Pakistan
During a meeting in Abu Dhabi, UAE President Sheikh Mohamed Bin Zayed announced a $10bn investment in Pakistan across sectors like energy, infrastructure, and tourism. The leaders discussed enhancing cooperation to boost sustainable economic development. Pakistan emphasized strengthening partnerships in IT, renewable energy, and tourism.
The blazing glory of Pakistan’s basmati exports
Despite ranking ninth in global rice production, Pakistan is the fourth largest exporter, aiming for 5.8 million tonnes of rice exports this year, bolstered by favorable weather and India's export ban. The export value reached $3.4 billion in ten months, significantly increasing from the previous year. Challenges include dwindling non-Basmati stocks and competition from Indian Basmati, with future focus needed on local hybrid seed development and addressing pesticide issues in exports.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
Meena - Business News delivers timely updates on investments, business trends, tender information, fair listings, and risk analysis in IRAQ, KSA, UAE, QATAR, and Pakistan.
We emphasize the abundant opportunities available and stand ready to support your business development endeavors in these potential countries.
May 29, 2024