ABU DHABI: Business France, the national agency for international development of the French economy and the French Business Council in Dubai & Northern Emirates signed an agreement to enhance business and trade of French companies in the UAE. The signed convention aims to offer a strategic partnership for the development of French SME’s abroad and especially in the United Arab Emirates. This agreement will establish a framework of cooperation in the following fields: BtoB commercial services, business establishments and promotions.
Together, the two sides will put into effect a range of joint marketing activities, such as btob services, networking events, conferences and exhibitions to help French companies to strengthen ties with local businesses and increase French exports. The signing partnership was attended by Michel Miraillet, Ambassador of France to the UAE, Majdi Abed, Consul General of France in Dubai & northern emirates and both signatories, Marc Cagnard, Business France director in the Middle East and Bruno de Reneville, president of the French Business Council in Dubai & Northern emirates.
United Arab Emirates remain a key partner in economic terms: the largest market in the Middle East and 4th largest French trade surplus. Total volume of trade between France and UAE represent 5 billion euros ($5.6 billion). In 2015, French exports to the UAE represented 3.9 billion euros and French imports from the UAE meant 1.1 billion euros.
UAE represents a quarter of French exports to the Middle East. French exporters were about 6000 in 2015, 60 per cent of which were SMEs. Around 600 subsidiaries of French companies are present in the UAE. “We have to keep in mind our ultimate goal is to structure French offer to meet Emirati expectations and hereafter to other Middle East markets, this strategic partnership is essential to work together on this,” said Miraillet.
