Dubai Exports, the export promotion agency of the Department of Economic Development (DED) in Dubai, co-ordinated and led a multi-sector trade mission to Croatia to capitalise on the economic prospects in the country and its significance as an efficient gateway to the wider European Union (EU), as well as to Central and South Eastern Europe.
The trade mission focused on connecting UAE firms with counterparts through focused and pre-arranged B2B meetings. Dubai Exports also hosted a ‘UAE and Croatia Business Forum’ where His Excellency Joseph Gene Petrić, Assistant Minister in Croatia’s Ministry of Foreign & European Affairs was the keynote speaker. Ivan Barbarić, Vice President, Croatian Chamber of Economy also addressed the Forum.
Mohammed Al Kamali, Deputy CEO of Dubai Exports, stated: “Croatia is a market full of potential for UAE companies and this was evident in the B2B meetings during our trade mission. Croatian companies were extremely eager to meet with our delegation and we see promising signs for the future”.
The newest member of the European Union and strategically located at the heart of Central and Eastern Europe, Croatia is one of the most developed countries in southeast Europe. Zagreb, its capital, is only a four-hour drive away from Vienna, Venice, Budapest, or Belgrade, and only a two-hour drive from the ports on the Adriatic coast.
As such, Croatia is ideally located for UAE companies to build business relations and export to the country. Moreover, the geostrategic location of the country makes it ideal to penetrate the wider region most of whom will become members of the EU by 2025. Economic forecasts for Central and Eastern Europe are extremely positive and GDP growth is expected to average 5% per annum over the next 20 years.
Bilateral trade between Dubai and southeast Europe has been rising in recent years and 2017 saw an increase of 4% over 2016. Exports and re-exports increased 18% and 30% respectively between 2016 and 2017.
The widespread use of English as the language of business; customers who are positive to UAE products and services; modern distribution channels and the highest Internet penetration in southeast Europe also make Croatia particularly attractive for UAE companies.
Dubai Exports also arranged five capacity-building sessions, which sought to educate UAE companies on the particular aspects of Croatian tax, legal system and payments structure. In addition, the session sought to inform UAE companies on the importance of understanding Croatian consumer behaviour.
Ahmed Belyoula, Chairman of Emirates Marconi and Vice Chairman of the UAE Food and Beverages Manufacturers Group commented: “Croatia and its neighbourhood are full of opportunities that UAE companies need to take advantage of, especially in the food and beverage sector. With a few large supermarkets and distribution companies that market is much easier to penetrate than most EU countries.”
