Business mission of The Confederation leaves for UAE

A business mission comprised of representatives of 15 domestic companies who accompany Radek Vondracek, chairman of the Chamber of Deputies, has left for a three-day visit to the United Arab Emirates (UAE), the Confederation of Industry said in a press release. Companies engaged in space technologies, electrical engineering, telecommunications, and design will be discussing business opportunities in Abu Dhabi and Dubai including their share in preparations for Expo 2020, a universal exposition to be hosted by Dubai, said the Confederation.

"The Persian Gulf states need assistance with the development of industries other than extraction of petroleum," said Radek Spicar, vice-president of the Confederation.

"For Czech companies, the UAE is a gateway to the entire area. We need to ease our dependence on exports to the EU and diversify countries for Czech exporters," he said.

Czech companies developing and producing software and equipment for space industry may be successful on the UAE market.

The UAE has declared an ambitious programme within which it plans to place an Islamic satellite in orbit around Mars in 2021, earmarking USD5.4bn for the purpose three years ago.

"However, we are facing a tough competition. The UAE Space Agency has signed cooperation agreements with the USA, Great Britain, France and Japan," said Czech Space Alliance head Petr Bares.

Czech companies can offer know-how ranging from development of advanced materials, sensors, and optical instruments to satellite related software, rockets and satellite navigation systems, Bares added.

The UAE and Saudi Arabia are the Czech Republic's important trade and political partners in the Middle East, according to Vondracek's office.

Negotiations with the two emirates' top political and business representatives will be held during the visit, said Vondracek's spokeswoman Barbora Stenglova.

Czech exports to the UAE reached nearly Kc20bn last year, the emirates being the largest Czech trading partner in the Persian Gulf area.

Expo 2020 is a great opportunity for Czech companies as they may get orders to supply equipment for the exhibition site and its subsequent operation, the Confederation said.

Source: CTK