ABLCC NEWS

Our recent activities

The evolution of Saudi Arabia's role in the Global Oil Market and in the OPEC

12 May 2011

On the occasion of the visit to Brussels of Dr. Majid Al-Moneef, Governor of the Kingdom of Saudi Arabia to the OPEC, the Secretary General of the Arab Belgium Luxembourg Chamber of Commerce participated to a conference on the theme “The Evolution of Saudi Arabia’s role in the Global Oil Market and in the OPEC” organized by the Royal Institute for International Relations, the MEDEA Institute -European Institute for Research on Euro-Arab Cooperation, in collaboration with the Embassy of the Kingdom of Saudi Arabia at the Château Val Duchesse/Brussels on Thursday 12 May 2011.

Doctor Majid Al-Moneef made a brilliant presentation on the reasons why Saudi Arabia has for years dominated the global energy and especially the oil scene concluding it was mostly due to its reserves, production potentials, reliability, consistent production and pricing policies through most of the market turns. Dr. Al-Moneef is confident this role will continue into the next few decades as global oil demand patterns shift with the developing countries and the transportation sector dominating growth potentials. As supply from non-OPEC regions such as the European Union dwindle due to maturity of production, global demand for oil will be met by increasing supplies from the Middle East, most notably Saudi Arabia, and the consolidation of European energy interests towards this oil-rich part of the world.

Ms. Marie-Pierre Fauconnier, Director General Energy, Belgian Ministry of Economy and Mr. Köhler, Head of Cabinet of Commissioner for Energy G. Oettinger, EU commented Dr. Al Moneef’ speech and the debate were moderated by François-Xavier de Donnea, President of MEDEA and Minister of State. The conference was followed by a business lunch, held in the neighbouring Château Sainte-Anne.

Business Visit to Saudi Arabia

10-15 April 2011

The Arab Belgium Luxembourg Chamber of Commerce organized a “business visit” to Saudi Arabia from 10 to 15 April 2011. The Chairman and the Secretary General have visited the Chambers of Commerce and Industry of Riyadh and Jeddah. They have met with the General Secretaries of both Chambers, Mr. Hussein Al Athel and Mr. Adnan Mandourah. The discussions concerned the business and investment opportunities in Saudi Arabia and the possibilities offered by the Saudi market for the Belgian companies and the support provided by both Chambers to help the Belgian enterprises in order to develop their relations with Saudi Arabia.

The delegation also met with the Responsible people at the Ministry of Water and Electricity; other meetings with the Saudi enterprises have taken place according to the program. It has to be reminded that the economic and commercial relations between Saudi Arabia and Belgium are very strong; in fact, the Belgian imports from Saudi Arabia reached 1,27 billion€ in 2010 versus 705 million€ in 2009, i.e. an increase of about 60%; as to the Belgian exports to Saudi Arabia, they reached 1,03 billion€ in 2010 versus 940 million€ in 2009, i.e. an increase of about 10%. Our Chairman, Mr Johan Beerlandt, has informed his counterparts of the opening of an office of the company BESIX in Riyadh and of his will to participate in projects with Saudi partners in this country.

At the end, the Chairman and the Secretary General have invited both Chambers of Commerce to visit Belgium on the occasion of the participation of Saudi Arabia as a guest of honour to the International Fair of Ghent which will take place in Ghent from 10 to 18 September 2011.

Doing Business with the Arab countries

7 April 2011

The Arab-Belgium-Luxemburg Chamber of Commerce organized in cooperation with BECI on April 7th, 2011, a seminar on “Doing business with the Arab Countries”, with up to 60 participants.

H.E. Dr Montaser Oklah AL ZOU’BI, Ambassador of the Hashemite Kingdom of Jordan was the keynote speaker at the seminar, outlining the “Political development in the Arab region and its impact on the economic opportunities”. Mr. Ashraf AMMAR, Manager at DELOITTE, represented the value added of Luxemburg to investors willing to do business with the Arab Countries and Mr. Selim HADDAD, Manager Commercial & Correspondent Banking at BYBLOS BANK EUROPE, gave a short overview of Byblos Bank Europe, outlining its role as a partner in exporting to the Arab Countries. Mr. Ramzy KOPTY, Fellow of the Chartered Institute of Arbitrators, London, and International Commercial Mediator, reviewed the alternative dispute resolution mechanisms available for European Enterprises working in the MENA region. Mr. Amr Sassi, director at FIFA, Brussels, gave a presentation on the business environment in Tunisia following the currently occurring political and economic reforms. And Mrs. Cendrine Godefroy, Sales and Commercial Attaché, INTERTEK, spoke about the obligations of exporters and the import regulations which interest companies wishing to export to Arab countries.

U.A.E. the Myth and the Reality, economic situation after the crisis

31 March 2011

The Arab-Belgium-Luxemburg Chamber of Commerce, in cooperation with Château Sainte Anne International Club, organized on March 31st, 2011, a lunch-conference with the participation of members of the ABLCC and the Club. During the meeting, Mr. Ghassan Ejjeh, Senior Vice-President of Besix and member of the Board of Directors of the ABLCC, made a presentation describing the economic potential and evolution of the United Arab Emirates and the projects carried out by Belgian companies in the country. The economy of the UAE witnessed exceptional expansion over the past 4 decades, driven by the oil industry and crude exports. Revenues from the oil sector helped to fuel a massive construction boom, an expanding manufacturing base and a thriving services sector.

Oil still is the largest single component of the UAE economy, but exports of aluminium, steel and textiles will probably surpass the income from oil and gas exports in the years ahead.

Mr. Ejjeh also extensively detailed the work of Belgian companies in the Emirates, more particularly the numerous projects realized by Besix. In 45 years of presence in the country, the Belgian construction specialist made a major contribution to the emirati social and economic development. Working on marine and infrastructure projects, tourism and leisure developments, buildings and PPP investments, Besix realized some of the most iconic constructions in the country, and indeed in the world, including the Burj Khalifa, the highest building in the world, the Sheikh Zayed Grand Mosque and Ferrari World Abu Dhabi.

Flanders and the Arab countries: Strengthening the Economic Partnership

24 February 2011

The ABLCC organized a lunch conference with HEM Kris PEETERS, Minister President of the Flemish Government, on 24th February 2011 with the participation of a number of Arab Ambassadors in Brussels and about 80 people. Secretary-General initiated the lecture by welcoming the participants before turning to some of the features of the development achievements in the Arab countries, especially in the field of infrastructure. He spoke about the role of the Chamber and its initiatives to support the private sector in these countries and encouring measures that lead to a stable business environment. On the other side, he pointed out Belgium as an important trade partner for the Arab States and underlined the increase in trade between the two parties in 2010.

Mr Koen ALLAERT, President of FIT agency, spoke on behalf of HE Mr Kris PEETERS, saying that the ties between Flanders and the Arab World are good but could and should be better. Trade figures of the first ten months of 2010 show a significant improvement in the trade balance between the parties, as exports to the Arab world increased by 16% and imports by 37% after the decline in trade between the Flemish region and the Arab world during 2009. He noted the success of the Flemish Economic Mission to the United Arab Emirates and Qatar, from 6 to 11 February, organized by the FIT agency under teh chairmanship of the Minister President of the Flemish Governement and with the participation of 31 companies.

He explained that Flanders Investment & Trade combines an offensive growth strategy on a selection of so-called 'focus countries" with a more reactive strategy on a number of "non focus countries" because the optimal use of available resources (people and funds) needs a clear choice concerning the most important target markets. In the Arab world, FIT focuses on Morocco, the United Arab Emirates and Saudi Arabia, but wants to maintain representative offices in other Arab countries. UAE is a top trading partner and Qatar is the nr 5 export destination in the Arab world. Mr Allaert stressed the crucial role of some Arab companies in the Flemish economy, noted the sheer volume of investments of Abu Dhabi, Dubai, Kuwait and Qatar in Flanders and also expressed satisfaction on the activities of Flemish companies in the Arab world such as BESIX & Jan De Nul. He concluded to express confidence that trade and investment opportunities are available to companies of all Arab countries as well as for Flemish companies in both directions.