The United Arab Emirates 2021 by Diplomacy&Commerce magazine

The United Arab Emirates - 2021 -

THE UNITED ARAB EMIRATES & SERBIA

50 SUCCESSFUL YEARS OF COOPERATION

CITY OF GOLD

Dubai is often known as the ‘City of Gold’. The Gold Souk is the largest market for gold and jewellery in the world.

PULL OVER, SIR!

Dubai Police have a range of supercars such as Bugatti, Ferrari, Bentley, Lamborghini, Camaro, Mercedes and many more.

S KY IS THE LIMIT

Burj Khalifa is the tallest tower in the world. It is 828 meters high and is the equivalent of 3 Eiffel Towers stacked on top of each other!

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ISLAND BUILDERS

Dubai has four human-made islands: The Palm Jumeirah, the Palm Jebel Ali, Deira Island and The Worlds.

UNDER THE SEA

The Dubai Aquarium Tank is the largest suspended aquarium in the world. It has the most extensive collection of Sand Tiger Sharks on our planet!

7 STAR HEAVEN

Dubai is home to the world’s first ever sevenstar hotel. The Burj Al Arab.

BUCKLE UP

Ferrari owns the largest indoor theme park in Abu Dhabi. Their rollercoaster, the Rosso, is the World’s fastest, reaching 150mph in 5 seconds.

R ECORD BREAKERS

The number of world records held by the UAE till date is 190. They strive to be the greatest!

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United Arab Emirates

2021 Special thanks to

UAE EMBASSY IN SERBIA

TANJA BANKOVIĆ Editor in Chief

tanja.bankovic@color.rs

ILIJA PETROVIĆ INDIGOCHILD Art director

indigochild.ilija@gmail.com

NATAŠA NEŠIĆ

Advertising director natasa.nesic@color.rs

JOVANA MARKOVIĆ Advertising manager

jovana.markovic@color.rs

JELENA RANDJELOVIĆ Advertising manager

jelena.randjelovic@color.rs

DRAGANA RADOVIĆ Advertising manager

dragana.radovic@color.rs

RUŽA VELJOVIĆ Magazine director

ruza.ristanovic@color.rs

ROBERT ČOBAN Director

robert.coban@color.rs

Photos

GORAN ZLATKOVIĆ GETTY IMAGES Translation

SNEŽANA BJELOTOMIĆ Print

ZLATNA KNJIGA Jagodina, Bagrdanski put bb

50 SUCCESSFUL YEARS OF 06 COOPERATION BETWEEN SERBIA AND THE UAE H.E. Mubarak Saeed Burshaid Al Dhaheri Ambassador of the United Arab Emirates to the Republic of Serbia

HIGH-LEVEL ECONOMIC 10 RELATIONS WITH GROWTH POTENTIAL Nikola Mihailović

Chairman of the Board of Directors of the UAE Serbia Business Club and CEO of Mirabank a.d. Belgrade

THE UAE AND SERBIA ARE COMPATIBLE IN MANY ASPECTS

Mr. Ibrahim Al Darmaki

Head of Economic, Political and Media Affairs Section, Embassy of the UAE in Belgrade

STRENGTHENING FRIENDSHIP AND COOPERATION

Sanja Radlovački

Executive Director, UAE Serbia Business Club

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IS A LOT OF ROOM FOR 20 THERE INNOVATION Bogdan Gečić

Founder of the Gečić Law Firm

MERGING 28 SERBIA WITH THE MIDDLE EAST Cooperation

30 CREATING A BETTER FUTURE THE CITY OF THE FUTURE 34 36 CITY OF GOLD 40 MARHABA! 44 LUXURY IS A STATE OF MIND Economy

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Tradition

Culture

Tourism

FOREWORD

THE BEST IS YET TO COME

Bilateral relations are very important, especially when we talk about the economic aspect, joining forces and strengthening the relationship of economic growth. We have healthy partnerships with and institutional support from the UAE Ambassador as one of the founders of our business

Dear readers, Over the past five years, as part of our special edition "In Focus Country", you are used to having us introduce you to one individual country where we present the country’s overall relations with Serbia. In this issue, for the first time ever, we are presenting the United Arab Emirates, a country worthy of great attention, starting from the economy, economic development, business climate, culture, history, tradition, tourism. In cooperation with the UAE Embassy and UAE – Serbia Business Club, we bring you closer to this country through numerous interviews and articles dedicated to bilateral cooperation, trade, economy, and all this in the year when the 50th anniversary of diplomatic relations between our two countries is being marked.

club and a huge common desire for a long-term and successful cooperation of two countries. The Embassy brings great support and additional strength to our organization, and I also have to underline that it’s an outstanding example of a pillar of good diplomatic relations between the UAE and Serbia. The Embassy of the United Arab Emirates has done a lot to empower our businessmen in the past period, the desire of the Ambassador and of the entire team for a better relationship with Serbia is more than obvious, and more and more UAE business entities interested in expanding business in Serbia speak in favor of this. Also, over the past period, a large number of Serbian businessmen contacted the Embassy, which did its best to employ its capacities and provide

On this occasion, we especially want to express our gratitude to H.E. Mr Mubarak Saeed Burshaid Al Dhaheri, Ambassador of UAE to Serbia, who talks about the important aspects of overall cooperation between the two countries. We also owe a great debt to Mr Ibrahim Al Darmaki, Head of the Economic, Political and Media Affairs Section at the Embassy of UAE, and also to Mr Nikola Mihailović, President and Mrs Sanja Radlovački, Executive Director of UAE Serbia Business Club, who will talk about economic cooperation, business community of UAE and about doing business in Serbia. As always, we want you to enjoy reading this issue, with which we begin to mark a very important jubilee for us, 5 years since its establishment in Serbia. We are certain that in the next 5 years as well, we will manage

the simplest and most effective access to their market, with concrete support for establishing direct contact with the institutions in the UAE for the benefit of our businesses. Today, we are here as a business club, and as an indispensable link in the chain for both economies, with serious partners, companies and businesses on both sides that are ready to respond to all stakeholder requests in the Emirates and in Serbia, of which we are extremely proud because that is our vision from the very beginning. Strong partnerships, mutual support and mutual trust. We managed to build it, and the best is yet to come.

SANJA RADLOVAČKI

Executive Director at UAE Serbia Business Club

to bring you all the important information and news in the field of politics, diplomacy, economics, culture and society. The best is yet to come!

TANJA BANKOVIĆ

Editor-in-Chief

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INTERVIEW

50 SUCCESSFUL YEARS OF COOPERATION BETWEEN SERBIA AND THE UAE H.E. MUBARAK SAEED BURSHAID AL DHAHERI

Ambassador of the United Arab Emirates to the Republic of Serbia

This year, the UAE will not only celebrate its 50th anniversary but also the accomplishments that have transformed the country from an undeveloped desert to a nation pioneering missions in outer space READ THIS ON WEB

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his year, the Republic of Serbia and the United Arab Emirates are celebrating half a century of successful relations. The UAE and Serbia have, above all, friendly relations, imbued with successful humanitarian and large economic projects. It is rare for economic relations to take precedence over political issues, as is the case with these two countries. We talked with H.E. Mubarak Saeed Burshaid Al Dhaheri, Ambassador of the United Arab Emirates to the Republic of Serbia about the successful cooperation with Serbia, the assistance provided during the COVID-19 pandemic, as well as the challenges that the UAE is facing.

Your Excellency, good relations between Serbia and the UAE date back to the time of the Non-Aligned Movement. How would you assess the bilateral and overall relations between the United Arab Emirates and Serbia today? Our relationship marks a jubilee this year for its 50th anniversary, since bilateral relations between the United Arab Emirates and then-Yugoslavia date back to 1971, the year when the UAE was established. Over the years, our two countries have engaged in cooperation, and our relations have grown through high-level official visits conducted since 2012. At that time, a framework to develop bilateral relations was established. Our two countries continue to strive to adapt this framework, and we are all witnessing the tangible results of these efforts. Your country is celebrating 50 years of independence this year. How does the UAE plan to mark the 50th anniversary of the historical unification of the emirates? This year, the UAE will not only celebrate its 50th anniversary but also the accomplishments that have transformed the country from an undeveloped desert to a nation pioneering missions in outer space. The UAE has completed numerous mega projects: artificial islands; the tallest building in the world; the first peaceful nuclear

power plant in the region; UAE space satellites; sending UAE astronauts to international space stations; and the UAE Hope Probe heading toward Mars, among others. Only a few countries in the world have had such an upward trajectory in five decades of existence. As His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said: “We are well-placed to realize our ambition of making the UAE the best country in the world by its 100th anniversary, relying on the strong foundations laid down by our founding leaders and the major successes that we have achieved over the past decades.” This year, we will set out on a path of further progress and prosperity for our descendants.

I AM ALWAYS BLESSED AND PROUD TO REPRESENT A COUNTRY THAT IS SO GENEROUS AND COMPASSIONATE ABOUT HELPING OTHERS The UAE has been involved in a number of international humanitarian campaigns to help the world fight the virus, and Serbia, as one of the friendly countries, was given priority. What sets Serbia apart from other countries, so that the UAE had made it a priority? One of the basic pillars of UAE foreign policy is foreign aid and assistance. The UAE provides foreign assistance in response to the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, extending help to those in need around the world. The main goal of UAE foreign aid is to reduce poverty and improve quality of life in underprivileged commu-

nities, foster relations between the UAE and other states, including the recipient countries and other donor states, and encourage the creation of economic relations with developing countries based on mutual interests. Serbia is one of our partners in achieving these goals. So far, the United Arab Emirates has directed numerous donations to the Republic of Serbia through various support programs and different charity organizations from the UAE. Most of our donations to Serbia have been dedicated to vulnerable groups, people in need, disaster-damaged areas, economic development, and the development of rural areas. Even before the outbreak of the COVID-19, your country had been making donations to Serbia. What are you especially proud of when it comes to the overall assistance that the UAE provides to our country? I am always blessed and proud to represent a country that is so generous and compassionate about helping others. We donated to at-risk populations after disasters, including floods and earthquakes, and helped underdeveloped regions in Serbia by equipping hospitals, nursing homes, kindergartens, schools, and other social and educational facilities. As part of our assistance, we encourage economic development in developing countries. One of the donations of this kind is a turnkey project of an industrial facility in Raška Municipality, donated by Khalifa Fund for Development. In 2019, a Serbian textile company set its production line in this facility. Donations like this in Raška are adding value to the wider community. We encourage economic activity that creates new jobs, stimulates consumption, generates additional income for the municipality, and consequently increases the quality of life of the community. Such donations are of great value, and I am especially proud of them. What challenges is your country currently facing and what developments do you expect to take place this year once the pandemic subsides?

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During the COVID-19 pandemic, the need for a green recovery and sustainability has become more evident. The UAE’s COVID-19 recovery plan aims to drive sustainable development by encouraging investment in three main sectors: digital economy, food security, and the green economy. Food security is a top priority for UAE. We have worked to strengthen scientific research collaboration in order to advance global efforts to achieve sustainable development goals in the food and water sectors. The importance of digital transformation in all sectors—economy, government, and particularly in the education sector—became clear during the pandemic. Transferring traditional education to digital platforms is the best path forward. We undertook a climate risk assessment for four key sectors—energy, infrastructure, health, and environment—and the formulation of adaptation measures is ongoing. We also highlighted the role of the UAE’s insurance sector in minimizing the financial and economic impacts of climate change. How did the UAE government respond to the crisis and what measures have been implemented to help businesses?

In an effort to contain this crisis and reduce its impact on the community, the UAE Government allocated a flexible stimulus budget amounting to AED 256 billion and took exceptional measures to offset potential damage. The Central Bank supported the national economy with an AED 100 billion economic support plan for retail and corporate customers affected by COVID-19. Central Bank measures included the approval of loan eligibility, a reduction of the capital requirement, and the adoption of new policies. The UAE Government and federal entities allocated AED 156 billion to reduce the economic burden of COVID-19. Local government entities also took steps to ensure business stability, with a focus on the full exemption of fees for some government services

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I AM SURE THAT THE YEAR AHEAD IS FULL OF CHALLENGES, AND WE WILL NOT IMMEDIATELY OVERCOME EVERY ISSUE OF THE PAST YEAR

eration in this sector is expected to expand. In line with the sustainability strategy of the UAE, we plan to implement more projects in the field of renewable energy sources, environmental protection, and smart solutions in the fields of agriculture, IT industry and artificial intelligence. That is our vision for our future cooperation to add value to both sides. Could you please tell us more about Dubai Expo 2020?

and the reduction of others as well as payment flexibility. What will the economic recovery look like this year? In terms of the relations between the UAE and Serbia, what are the prospects for improving the overall cooperation between our two countries? I am sure that the year ahead is full of challenges, and we will not immediately overcome every issue of the past year. However, we have learnt from experience that challenges always create new opportunities. Our companies in Serbia are working on their projects without interruption. During 2020, new projects in the field of wastewater treatment were launched. These projects continue to grow, and coop-

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Expo 2020 Dubai is the first World Expo to be held in the Middle East, Africa, and South Asia region, and largest-ever event to take place in the Arab world. Located in the Dubai South District, the Expo site covers around 4.4 square kilometers, including a 200-hectare gated area. Due to the COVID-19 pandemic, the global mega event will now run from 1 October 2021 to 31 March 2022. As the COVID-19 vaccination program moves forward, Expo will provide visitors with the chance to safely enjoy spectacular architecture, interact with global cultures, and examine thought-provoking exhibitions. Above all, visitors to the event will witness the very latest in human brilliance and innovation in one place. 

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INTERVIEW

HIGH-LEVEL ECONOMIC RELATIONS WITH GROWTH POTENTIAL NIKOLA MIHAILOVIĆ

Chairman of the Board of Directors of the UAE Serbia Business Club and CEO of Mirabank a.d. Belgrade

Knowing the potential of the United Arab Emirates and Serbia, and the complementarity of our two economies, I am deeply convinced that the limits of our achievements are only those we set for ourselves

n the first special issue of the InFocus edition dedicated to the overall relations between the United Arab Emirates and Serbia, we talked with the Chairman of the Board of Directors of the UAE Serbia Business Club, Nikola Mihailović, about starting this business club in Serbia, and eco-

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nomic and trade cooperation between the two countries. We also talked about the challenges faced by companies during the pandemic, opportunities for economic growth and potential for improving cooperation. “The UAE and Serbia have very good cooperation at the state level, have recognized each other as partners and we

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have a lot to offer each other, both in terms of external trade, as well as the exchange of know-how and experience. The UAE Serbia Business Club will work on further developing relations between the two countries and opening as many channels as possible for the exchange of information", says Mr Mihailović.

The UAE Serbia Business Club gathers investors from the UAE and Serbian companies that do business with the Emirates. What can further be done to improve economic cooperation between the two countries? The United Arab Emirates and Serbia have very good cooperation at the state level, and that is the basic prerequisite for the development of economic relations between the two countries. However, to make the most of the entire potential that this cooperation has, we need to form the widest possible front of information, know-how and experience exchange between the two countries. The UAE Serbia Business Club brings together companies of esteemed reputation from both countries, which recognize their development potential in cooperation and is a platform that promotes and facilitates this exchange, from which new ideas and new business opportunities arise. The economies of both the UAE and Serbia have been hit by the pandemic. What is the forecast for 2021 and what challenges await us this year? If we look globally, we have all faced an unprecedented situation. I think that in circumstances that were completely new to all of us, the governments of both countries managed the situation with considerable success, putting the health of the population in the first place, but at the same time, managing to sustain economic life at an enviable level. Thanks to that, we have a good basis for recovery from the negative effects of the pandemic. On the other hand, the speed of this recovery, in the case of both the UAE and Serbia, will largely depend on external factors, i.e. the speed of recovery of the global economy. The estimates show that the trade between the UAE and Serbia has increased up to six times in the last few years. Which segments saw an intensified cooperation and where do you see a potential for expansion? The UAE and Serbia have identified themselves as strategic partners. We

have a lot to offer each other but also learn from each other. The greatest potential lies in food production and new technologies, primarily in information and communication technologies. In the past decades, a plethora of top experts graduated from our engineering faculties, who subsequently built careers and have proven themselves on the most demanding projects and the best universities around the world. The quality we have has been validated in recent years by new generations through the dynamic development of domestic software companies. As the United Arab Emirates sees its future in the development of a knowledge-based economy, I think that we can learn from and implement such an approach in our country. Also, the UAE is a market that has great potential to accept the products of our knowledge.

much as the industry in which they operate has been affected.

THE UAE SERBIA BUSINESS CLUB BRINGS TOGETHER COMPANIES OF ESTEEMED REPUTATION FROM BOTH COUNTRIES, WHICH RECOGNIZE THEIR DEVELOPMENT POTENTIAL IN COOPERATION

From the UAE Serbia Business Club’s stance, what are the most important measures for maintaining the set goals of economic growth? What are the most important measures for the banking sector, considering that you are the head of a bank?

What do you think about the measures implemented by the Serbian government and how much have the UAE companies operating in Serbia been affected by the crisis? In terms of measures, the most important thing is that we have a coordinated action between the Government and the National Bank of Serbia. The adopted measures were timely and have created the necessary space for the economy and citizens to adapt to the new circumstances. Regarding the UAE companies that operate in Serbia, they share the destiny of all other companies that operate on our market and are affected as

The government has announced a set of financial measures for the economy. In the macroeconomic sense, what is the situation like in Serbia? In the given circumstances, I think that Serbia’s macroeconomic position is good. We are in this position both because of the timely measures implemented by the Government and the National Bank of Serbia, and because of the very structure of our economy, which is much less dependent on the industries most affected (by the pandemic), such as tourism, than in some other countries of our region. I think that now that we have all adapted to the new circumstances in some way, it would be good for the new set of measures to be targeted at the most vulnerable segments.

The economy and the banking sector go hand-in-hand. There is no strong economy without a strong banking sector and no strong banking sector without a strong economy. Having that in mind, we, at Mirabank, constantly underline that, although we are a bank with UAE capital, we are primarily a local bank and a part of the local community and our goal is to support the development of the Serbian economy. In terms of the goals related to economic growth, as I said earlier, I think that we have a good foundation, but that the accomplishment of the set goals will largely depend on external factors. In this context, Mirabank strives to be the backbone of further improvement of economic trade between the United Arab Emirates and Serbia and thus contribute to the achievement of the set goals related to economic growth. How will the crisis affect the sector in which you operate and the company

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you run in Serbia, and what changes await us when it comes to the regulatory framework? The global banking sector shares the destiny of the economy as a whole, and the best way to overcome the challenges is to find the most optimal solutions together. Thanks to the stability and security provided by reputable shareholders that have large capacities, Mirabank is in a position to provide the highest level of service to its partners in new circumstances, but also not to project a future crisis ahead but rather an opportunity for further development and growth. Regarding the regulatory framework, I believe that the National Bank of Serbia will continue with initiatives relating to the development of innovative digital services, where we already see significant positive effects through the projects implemented so far. Furthermore, I think that it would be very important if the Law on Foreign Exchange Operations was amended, which, I strongly think, would further boost Serbia's position in attracting foreign capital. Given your abundant international experience gained in different sectors, what will the crisis change the most and are there any good things it has brought?

Every crisis or challenge mobilizes and additionally motivates us to, first and foremost, re-examine ourselves and our immediate environment, recognize our strengths and weaknesses and discern whether the recognized strengths are relevant in the new circumstances and whether we can still further improve them. The crisis also drives us to overcome the identified weaknesses, or perhaps transform the weaknesses from earlier circumstances into strengths. If we approach the crisis in this way, we come out of it stronger and more able to seize new opportunities. I think that both the UAE and Serbia are in a good position to, through quality analysis and investment of available resources, make the best use of the challenges that lie ahead. Having in

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THE GLOBAL BANKING SECTOR SHARES THE DESTINY OF THE ECONOMY AS A WHOLE, AND THE BEST WAY TO OVERCOME THE CHALLENGES IS TO FIND THE MOST OPTIMAL SOLUTIONS TOGETHER mind the complementarity of our two economies, I think that this refers even more to the projects that we will implement together. What are the development plans for the UAE Serbian Business Club this year, as well as for the overall relations between our two countries?

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Relations between our two countries are at a very high level, thanks to the extraordinary cooperation that has been achieved between state institutions and chambers of commerce of the two countries. The UAE Serbia Business Club, as an association of companies from the two countries, gives its contribution to this cooperation through the exchange of information, know-how and experiences related to our two markets. The Club envisages its further development through the opening of as many channels as possible through which this exchange would be conducted and helping its members to give their maximum contribution to the further increase of the trade between our countries. Knowing the potential of the United Arab Emirates and Serbia, and the complementarity of our two economies, I am deeply convinced that the limits of our achievements are only those we set for ourselves. 

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INTERVIEW

THE UAE AND SERBIA ARE COMPATIBLE IN MANY ASPECTS MR. IBRAHIM AL DARMAKI

Head of Economic, Political and Media Affairs Section, Embassy of the UAE in Belgrade

Empowering women, youth, and other groups is a priority for the future of the country. The UAE Embassy in Serbia initiates and supports cooperation between UAE and Serbian entities to empower diverse groups in society and in the use of artificial intelligence in health, education, transportation, telecommunications, agriculture, and food processing, among others. How can the UAE increase its investments in Serbia and do Serbian companies have the potential to export and do business in your country?

THE IMF PROJECTS THAT THE UAE ECONOMY WILL BE ABLE TO RECOVER BY 1.3 PERCENT BY 2021

he UAE is a country that has a vision to champion technology and innovation to become self-sustainable in many aspects, from environmental solutions, clean and renewable energy sources, smart cities, high technology solutions, healthcare, food production, water supply, and e-government, among others. Most UAE projects present in Serbia are large-scale, and their activities have not only had a positive impact on the Serbian market, but also on the regional economy”, said Mr. Ibrahim Al Darmaki, Head of Economic, Political and Media Affairs Section, Embassy of the UAE in Belgrade, for the special issu of the Di-

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plomacy&Commerce magazine “In Focus: The UAE”. The economic relations of our two countries are excellent. In which sectors can the two countries further improve their relations? Considering the many investment projects that UAE companies have begun to develop in Serbia in less than a decade of intensive cooperation, the UAE and Serbia are compatible in many aspects. Beside the sectors in which we already successfully cooperate, such as agriculture, renewable energy, tourism, and transportation, many opportunities exist in the IT industry

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Businesspeople on both sides have much to learn about the other’s market. It would be helpful for both sides to provide information on the economic environment and opportunities in the relevant markets to the other party. A constant presence and exchange of business delegations at different levels are of crucial importance. In this regard, the UAE Embassy supported the establishment of the UAE & Serbia Business Club to attract more investors from the UAE to Serbia and to bring Serbian companies to the UAE, providing reliable and secure channels for businesses from both countries. Which companies from the UAE currently operate in Serbia and what are the positive aspects of both

their operations and projects in Serbia in terms of boosting economic activity and quality of life in local communities? Most UAE projects present in Serbia are large-scale, like Al Dahra and Elite Agro (Al Rawafed) in agriculture, Etihad Airways in the aviation industry, and DP World (Port of Novi Sad) in logistics. Their activities have not only had a positive impact on the Serbian market, but also on the regional economy. Some of them are local, like Belgrade Waterfront, a project of great importance for municipal development and inbound tourism. Another project of that nature is a factory in Raška Municipality, where a Serbian textile company established a production line. This factory was built through a donation by the Khalifa Fund for Development. Projects of which we are especially proud are those with a positive impact on the environment and quality of life in Serbia, like Masdar’s Čibuk 1 wind farm project implemented by local company Tesla Wind, as well as a recently signed agreement between Metito Utilities Ltd with the City of Zrenjanin for a wastewater treatment plant. I would like to see additional projects of this type in the future. What economic challenges is the UAE facing due to the global crisis caused by the COVID-19 pandemic and what will the recovery from this crisis look like this year and next? What do you think will be the biggest challenges? Recent reports by the International Monetary Fund project the real GDP of the UAE as -6.6 percent for 2020, citing the impact of low oil prices as one of the key reasons for the decline in the UAE economy. The UAE Government introduced several policies to boost the economy and moderate the impact of COVID-19, with stimulus measures worth approximately 18 percent of the GDP of the UAE. With vaccine rollout underway, together with continued government stimulus and the upcoming Expo 2020 Dubai in 2021, the UAE economy will experience significant recovery in 2021. In fact, the IMF projects that the UAE

economy will be able to recover by 1.3 percent by 2021. What is the economic strategy of the United Arab Emirates for the coming years and is there room and potential for Serbian companies as well? The UAE is a country that has a vision to champion technology and innovation to become self-sustainable in many aspects, from environmental solutions, clean and renewable energy sources, smart cities, high technology solutions, healthcare, food production, water supply, and e-government, among others. I am confident that Serbia could offer creative ideas and projects to the Emirati market that can contribute to realizing this vision. Huge potential exists for Serbian businesspeople, inventors, and creative entrepreneurs.

PROJECTS OF WHICH WE ARE ESPECIALLY PROUD ARE THOSE WITH A POSITIVE IMPACT ON THE ENVIRONMENT AND QUALITY OF LIFE IN SERBIA How important is the empowerment of vulnerable groups in society, especially young people and women? The UAE is a young nation that derives its strength from the skills, aspirations, and capabilities of its people. We cannot move forward on the path of development and prosperity without empowering all people and enabling them to contribute to the nation's sustainable development drive. Empowering women, youth, and other groups is a priority for the future of the country. The UAE Embassy in Serbia initiates and supports cooperation between UAE and Serbian entities to empower diverse groups in society. To what extent does sustainable busi-

ness contribute to the improvement of the quality of life and protection of the environment and do we have such examples in Serbia? The UAE has made significant progress in sustainable development since signing on to the United Nations’ Sustainable Development Goals framework in 2015. The UAE Government understands that sustainability efforts are most effective when supported by the private sector. Open communication on priorities and challenges, as well as timely support for each other’s initiatives, are key to enabling continuous progress. We have been witnessing advancement in Serbia in this area through UAE projects implemented in renewable energy, wastewater treatment, and smart buildings. These and many other sustainable projects in Serbia are proof that the country is moving forward on the path towards sustainable development. Do you think that our two countries can improve their cooperation in the tourism sector and what can Belgrade and Serbia do to better position themselves as tourist destinations? Which projects should we focus on the most? Serbia demonstrates significant potential in the tourism sector. The major appeals of your country include its cultural heritage and the hospitality of the Serbian people, as well as its geographic positon and strong connections to all parts of the world. People from the UAE enjoy traveling to Serbia, especially during the summertime. While they like to visit mountains, lakes, rivers, and other natural beauties, visiting Belgrade, Novi Sad, and other cities’ attractions is also of notable interest. I humbly suggest that developing infrastructure projects in areas outside of Belgrade, including in the hospitality and entertainment industries, be prioritized. I also believe that Serbia’s offerings could be showcased in an international marketing campaign to bring awareness to all that your country has to offer to the world. 

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INTERVIEW

STRENGTHENING FRIENDSHIP AND COOPERATION

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SANJA RADLOVAČKI

Executive Director at UAE Serbia Business Club

Having a trusted partner who is interested in investing, in strategic partnerships or some other form of expanding their business in your country is very important for a small country like Serbia e talked with Sanja Radlovački, Executive Director at UAE Serbia Business Club, about what connects us with the United Arab Emirates, how Serbian companies can do business on the UAE market and vice versa, how important is for Serbia to have big stakeholders from the UAE in the country and the significance of exchanging know-how, experiences and good business practices with such a global partner.

At the very beginning of your term, you had to deal with the COVID-19-related challenges. How much did the pandemic influence the companies that are members of the UAE Serbia Business Club?

The months behind us have not been easy, and the economic recovery after the pandemic will be long and challenging. However, the pandemic has created certain new habits, allowed us to see the bigger picture, and to change professionally and personally. Many years of market presence, experience and knowledge of the UAE business culture have taught us that the world is changing at an incredible

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speed, and thus, market opportunities and business activities of big stakeholders are taking on new, non-traditional forms that we, in this part of the world, are used to. The UAE market is such that it demands constant excellence, but also offers ways of presenting your excel-

WHEN YOU HAVE THE PRIVILEGE OF WORKING WITH THE UAE, YOU DON’T NEED A PANDEMIC TO WAKE YOU UP AND SAY YOU HAVE TO CHANGE lence globally while imposing high local standards on the whole world. I recall that in July, at the height of the pandemic, the UAE government launched its first mission to Mars, under the slogan "Impossible is Possible", and continued to invest in people at the height of the COVID-19-induced crisis. Human capital represents the greatest value today and the UAE is the leader in that.

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Influential and globally known companies are the Club members. Is the Club a shortcut between investors from the UAE and Serbia? Bilateral relations between Serbia and the UAE are at a high level. The UAE Serbia Business Club was created out of the desire for good cooperation between the two countries with the view of expanding and further boosting this cooperation. This was, first and foremost, demonstrated by the UAE Embassy in Serbia, headed by H.E. Mubarak Saeed Al Dhaheri. It was the Embassy, as well as the largest Arab investors, all globally known and recognized companies, that have launched an initiative for the establishment of our business club. A club like ours is a strong link and the shortest and safest way to the UAE market for our business people and vice versa. I would also like to mention that we are the only business association of this type in the region. Our Board of Directors consists of the CEOs of Masdar, Eagle Hills, Air Serbia, Al Dahra and Mirabank, which CEO is our Club’s Chairman of the Board. I believe that, thanks to such Board of Directors and members companies, we have a great strength of reputa-

tion, seriousness and will and that we are all striving towards the same goal. What are the priorities and goals of the UAE Serbia Business Club this year? The long-term goals are to strengthen the already good relations between the two countries, consider additional business opportunities and exchange know-how and experiences in the field of business and education. The desire to expand cooperation, become acquainted with the needs and habits of the market, improve the existing capacities of the economy, expand the business market and have a joint presence on international markets are just some of the goals of our organization. The mitigating circumstance in the whole process is that our partner – the globally reputable country of the UAE - is ready to provide its support and act as a strategic partner and investor. Furthermore, the presence of Serbian companies in the UAE market opens the entire GCC region and Africa, which is of great importance for increasing production capacity, boosting the economy and increasing profits. This is very important for our country, which is making enormous effort to strengthen its economy and position itself on the international business map. What should Serbian companies, that want to do business in the UAE, have to pay attention to? The UAE market is highly financially solvent and sophisticated. It is a hub of high quality, innovative products and services and a market that requires continuity, dedication and innovation from you as a manufacturer, and thus constant adherence to quality. If we are talking about food, the focus should be on top quality food products, produced without additives and pesticides. They can be a special niche, which can be well-positioned in the UAE. Our country has abundant natural resources and we should use that to sell various goods in the Emirates. On the other hand, the highly educated workforce, particularly in the field of

information technologies, innovations and artificial intelligence, is also our strength. The use of our knowledge in the field of innovation is crucial in cooperation with the UAE. I think that we should focus on and believe that we can contribute to improving production and self-sustainable projects, and in that segment, develop our knowhow related to the goods and services we want to offer the UAE market. What can the Serbian government do to facilitate investments from the Emirates and make our market even more attractive? Our country must take advantage of the uniqueness of its geographical position, good political situation and notable reputation of a stable economic partner. The strategic position of Belgrade, as one of the largest metrop-

STRENGTH LIES IN NOT COMPETING AGAINST EACH OTHER BUT RATHER IN COMPLETING EACH OTHER olises in the Balkans, is not a negligible fact. In the previous period, thanks to the efforts of the Serbian government, we have demonstrated that we have a stable investment potential and that we are a country worth investing in. Every investor pays attention to a stimulating tax environment. Much has been done in this area, and some steps have yet to be taken such as providing incentives for the creation of new jobs, income tax exemptions for new fixed-term investors, predictability of fiscal and other benefits over a 10-year period and administrative efficiency. All these segments are already being seriously worked on and investors do recognize that. The coronavirus pandemic has shown how businesses can transfer their processes to digital platforms, so full digitalization of the state is an absolute priority. The UAE is a leader

in this segment and a country from which we can learn a lot. Which of the general and doing business values from the UAE we can adopt in Serbian business practice and which ones do we lack? We need to take time to really get to know each other, our habits, needs and desires, build long-term partnerships, and implement strategic and self-sustainable projects. We also need to appreciate ourselves, our work and experience, and adequately charge for that. We have to invest in people. People are our biggest investment and our strength lies in people. We are a beautiful country that has so much to offer and it would be such a pity not to use that in this moment of globalization and digitalization that run side-byside when only those who were fast enough and defend their views and consider their long-term plans will survive. Today, we are at a turning point, and we have shown countless times that we can do it. I deeply believe that "Impossible is Possible". A woman helms the UAE Serbia Business Club. How many challenges do you have to deal with? It is a great responsibility and privilege at the same time. Before I was appointed to this position, I worked hard for many years, continuously working on personal improvement and facilitating business cooperation that has grown into sincere long-term friendships. I would not focus on the fact that a woman is at the head of a business club, given that over 65% of the UAE government sector is women, that a large number of women are top managers and that they hold the highest position in state institutions as well. Women are extremely appreciated and respected in the Emirates. There are complete understanding and mutual support in our business club. Just like in the UAE, and considering that everyone in the Club has experience from working in that market, we are here to complete each other and not to compete against each other. 

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CORPORATE

NOVI SAD IS OUR ANCHOR IN THE WESTERN BALKANS DPW the leading provider of worldwide smart end-toend supply chain logistics, enabling the flow of trade across the globe. Comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions

CLAUDIU NEGREANU

General Director, DP World Novi Sad a.d.

hese services are delivered through an interconnected global network of 136 business units in 61 countries across six continents, with a significant presence both in highgrowth and mature markets. Wherever DP World operates, integrates sustainability and responsible corporate citizenship into its activities, striving for a positive contribution to the economies and communities where we live and work. DP World`s dedicated, diverse and professional team of more than 53,360 employees from 137 nationalities are committed to delivering unrivalled value to the customers and partners. The company do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership. The Company, led by H.E. Sultan Ahmed Bin Sulayem, initiated its operations in Serbia by acquiring the Port of Novi Sad in September 2019. The position of this port on the river Danube and its continued importance in

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the transportation of agricultural produce from Serbia to other parts of the Europe, made it a very strategic acquisition for DP World and it remains a key market that DP World will continue to invest in. General Manager of DP World Novi Sad JSC Mr. Claudiu Negreanu has one vision only: to make the company he is managing a leader in Serbia, just like it has a leading position in multiple countries across the world.

DEVELOP

The arrival of DP World in Serbia by acquiring the Port of Novi Sad was a natural developing process within the global vision of the Company “The arrival of DP World in Serbia by acquiring the Port of Novi Sad was a natural developing process within the global vision of the Company. We have identified all the potentials of this port which will, I am sure, create even more opportunities for our company both locally and globally. Through this acquisition we have connected two enormous and valuable things, the river Danube - one of the largest and most efficient

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waterways in Europe - and Novi Sad the center of Vojvodina, the leader in agriculture in Serbia. Serbia as a country has huge potential for investment. More specifically in this industry, implementing an ambitious port development and logistics program represents an excellent opportunity. Through our knowledge, experience, organization and commitment I have no doubt we will turn Port of Novi Sad into a central port on the river Danube”, pointed out Mr. Negreanu. What is necessary to do to position DP World Novi Sad as a key regional stakeholder on the Western Balkans? — The key word is investment. Without investing there is no development, no new job positions, and no progress. We have already launched a large investment cycle during which we are to invest 35 million Euro in DP World Novi Sad. We have committed to do so by entering into the Purchase Agreement with the Republic of Serbia. The other word that is also very important for us is commitment. Commitment to our staff, the people we work with and the places we operate in. People make a company, just as people make the city we work in and the surrounding we all live in. Our planned investments and our commitment to people will prove Novi Sad and Serbia to be the anchor of DP World in the Western Balkans.

We have overcome the first year of Corona pandemic. How has the company overcome all the challenges brought by the COVID-19 pandemic? — Of course, it has not been easy for us, especially as it was our first year in this market, but there is no business unaffected by the pandemic, whether that’s in terms of business operations, employee wellbeing or its place in the wider community. 2020 was obviously an incredibly challenging year, but it was also an opportunity to prove ourselves and demonstrate the strength of our company and our people. I shall not speak about what the virus has done to the world economy as it is well known. However, despite all the challenges, DP World Novi Sad operated at a very satisfactory level. As we have only just started operating in Serbia we will not make comparison to previous years, but thanks to excellent organization and commitment of all the employees, we had around 1.6 million tons of handled goods in 2020. Even during 2020 we have managed to show that DP World Novi Sad is one of key players among port operators in Serbia and Novi Sad is the main port for all loads coming from or transported to Vojvodina. Vojvodina is the major part of Serbia for the production of crops, which creates great opportunities for port operations. We wish to invest in various instruments, which will allow us to diversify of our services portfolio and expand our impact in the region. You have been talking about commitment, and what are the investments DP World Novi Sad plans to make and which are those it has already started? — We committed to this investment from the start and we stand by that commitment. We believe there is no better proof of our belief in the business oper-

ations in Serbia and its future. More specifically, we have invested in equipment and other superstructures of the Port and a new mobile crane is to be installed soon, which shall have a central location in the port which is going to be a new port symbol. We have invested in the purchase of packaging machine designed for packing of fertilizers, two electrical forklifts and other equipment, which will allow us to improve our proposition and offer our customers even greater services. We are also investing in the development of infrastructure in the Port of Novi Sad - expanding the quay by 184 meters, creating a silo for crops and a building a new general loads platform and store for containers. These investments will help make Port of Novi Sad one of the most important ports on the river Danube.

INVESTMENT

DP World is going to invest around 35mil Euro in the Port of Novi Sad during the investment cycle

DP World, as a responsible and sustainable company, also invests in the local community it operates in. Novi Sad is our city, it is my city too, and that is why I am most proud of the investment which the citizens of Novi Sad are going to benefit from most. It is the reconstruction of the passenger terminal in Novi Sad on the river Danube, where we have invested 400.000 Euro. We expect the works on this terminal to be completed by the end of March when we will be able to hand the City of Novi Sad a new, mod-

ern and functional passenger terminal which will attract more tourists to boost the local economy. As one of the largest world companies in the port operations area, which logistics solutions you offer to your users and what new services you plan to introduce? — Today, we offer our customers transshipment, the storing of goods and the packing of mineral fertilizers. Of course, we always want to evolve by identifying market needs and we are looking to expand our services by offering the maneuver barges, customs bonds, the use of customs warehouses and other possibilities to store goods in the Port. We actively search for other new possibilities for expanding the service portfolio for our clients. How would you assess the entire market related to water-resistant goods when it comes to Serbia and this Region? — The capacity of the river Danube as a transportation corridor in Europe is to be still used to its full potential as it’s the second largest river in Europe by its length and volume. Historical reasons prevented the river Danube from being developed to the level of similar rivers used for transport in Western Europe. This is why we believe there is now vast potential here. During the last years there is a lot more interest expressed in the river transport due to its advantages when we speak about economic parameters, but also when we speak about environmental issues and decrease of CO2 emission. No module of transport can ensure such possibilities of transportation of various types of goods. Adding the dominant geographical positioning of Novi Sat to the river Danube, we have a unique opportunity for all production industries and trading communities. 

WE SHALL EMPLOY MORE PEOPLE What are the plans of DP World Novi Sad regarding employment, do you expect to decrease the number of employees like some companies have already announced? — We will need more people to attain our plans. DP World Novi Sad currently employs 150 people. Of course, due to the increased volume of work and investments, we plan to increase the number of employees, with new employees being recruited and becoming the part of DPWNS in near future.

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THERE IS A LOT OF ROOM FOR INNOVATION

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As an industry, the legal profession has been changing significantly. We have always believed there is a lot of room for innovation, and tried to take the lead and have been quite successful in that READ THIS ON WEB

BOGDAN GECIĆ

The founder of Gecić Law Firm

e talked with Bogdan Gecić, the founder of the Gecić Law Firm, about his return to Belgrade, his view of how relations between the UAE and Serbia have been developing, education and the innovative approach that his law firm has.

You were among the first in Serbia to launch the concept of building an innovative law firm. What does entail, given that your profession is considered highly traditional? — When talking about the alleged conservatism of our profession, this depends on one’s perspective. You should take into account that we are still a post-communist society, but I do not mean that in an offensive way. Most of our population was born and most of our social norms and institutions were created during communism and have been rapidly changing for the past 20 years. The bottom line is that twenty years ago we did not have business law as such or a need for it, because the dominant form of ownership was not private, nor was there a free market as such. So the area of law that our firm deals with - business law – is still considered new. Twenty

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years is a split second for the legal profession, so there was a lot of room for innovation in our niche branch of law. What do you think about the impact of the coronavirus pandemic on company operations in Serbia, speaking on behalf of your clients, and how much has the crisis slowed down the economy? — I wouldn't say the crisis slowed it down. That is difficult to measure because different industries have experienced a completely different context. I would rather say that the pandemic has changed business conditions radically, but I would not use the term “slowed down”. Business-wise, we had an interesting year. In Serbia, in the first quar-

TOP QUALITY

Companies from the UAE are top quality companies - efficient, fast, very professional and work all over the world. I have only words of praise for them ter of 2020, GDP growth was extremely strong and in the next three quarters of the year, the economy had the opportunity to perpetuate the driving force with which we started 2020. I believe

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that 2020 will not end with necessarily bad results. In industries and sectors that have a high frequency of human contacts, it’s only natural that their turnover and operations have changed radically. Many industries that existed and operated successfully before the pandemic but were not necessarily the driving forces of the overall economy, experienced a boom during the pandemic. How did you, as a law firm, adapt to this situation? — We were lucky that our type of services allows for a relatively smooth transition to remote work. Our focus was primarily on the safety of the people who are part of the team, our clients and contacts. As the dynamics of the pandemic changed, we keep in touch with our staff to make sure we make the best decisions that everyone is comfortable with. Whenever there was a need for a team to switch to remote work, nobody was obligated to be physically present in the office and, during each wave , we conducted regular surveys to see when the majority of the team would be comfortable to return to the office. Finally, given that we are working from a rather grand old building in the center of Belgrade, we also needed to make a few changes in the office to ensure that all the best health practices are followed

from having our air-conditioning made safe for use to, of course, ensuring the IT infrastructure can handle the additional pressures. In some ways the pandemic also brought us closer with colleagues around the world, as all meetings- whether in Belgrade, Brussels or Barcelona- became virtual. We participated in global meetings of our TerraLex and TAGLaw legal networks which brought over 600 legal professionals from all over the world together to discuss the business impact and opportunities from the pandemic. Given that, in this issue, we are featuring the cooperation between the UAE and Serbia, what are your experiences in working with companies from the Emirates? — We have been working successfully with Etihad and other UAE companies for most of the past decade. We are also one of the founders of the UAE Serbia Business Club . It is difficult to compare in the context of the size and economic strength. The UAE is one of the most vibrant countries that are experiencing the fastest economic development. We come from different positions, the reference point is different, so it is difficult to compare. In essence, companies from the UAE are top quality companies - efficient, fast, very professional and work all over the world. An agreement is very important to them, not only the one at the legal level but also in terms of promises made as they are very principled. They are goal-ordinated, really appreciate results, they are grateful for the work and I have only words of praise for them. How much room is there for boosting Arab investments in Serbia? — The idea behind forming this club was that as an organization that connects companies, we do not only connect existing investors but also to be a bridge between the Emirates and Serbia in the context of market intelligence and new opportunities. Our market is unknown to them. There is great interest, which is only natural because Belgrade is the traditional financial and commercial centre of the Western Balkans, which is a great opportunity for us. When the COVID-induced crisis ends, we can expect great growth.

Serbia has yet to work on opening Chapters 23 and 24. What legal challenges await Serbia on its path to joining the European Union? — Brexit is not sufficiently monitored in our country, and Brexit mirrors in a way the EU accession process, but in reverse. The British had a lot of technical level, legal work to do and a lot of regulations to pass, like the ‘Great Repeal Act’ which speaks to how much work awaits us. The EU is the most complex legal order in the world, which does not mean that it is more or less perfect than any other system, but it has a highly sophisticated legal structure. I think that all chapters are vital as they refer to almost all areas of social reality.

OPPORTUNITY

Belgrade is the financial and commercial centre of the Western Balkans, which is a great opportunity for us The transition to digital: electronic filings, virtual hearings, electronic case management, are all still major challenges for our judiciary. Progress is rather slow. This has, in turn, multi-layered consequences. For instance, you file a most common lawsuit, in hard copy, to sue for a claim and it turns out that for the lawsuit to be legally settled it will take several years, then the issue of the right to a fair trial arises, as well as the issue of investor protection which ultimately spills over into a matter of policy and principle, while it all started as a mere technical issue. I gave you a simple example, but when it comes to European integration, that requires a lot of work and a lot of capacity. In terms of the legal profession and education, we are somewhat lagging behind with a relatively small number of courses at law schools throughout Serbia that deal with EU Law. And the EU accession negotiations have an impact on almost all areas of law in Serbia. Could you tell us more about The Law Firm of the Year: Eastern Europe and the Balkans Award, which you received

from The Lawyer magazine? — It was an incredible privilege and achievement for us to be named the best in such a diverse, large and quickly evolving region – especially given that most of the other firms who were nominated were much longer established and significantly larger than us in terms of sheer size. We are especially proud that the panel who decided on the awards – which includes some of the best legal professionals on the continent – singled us out for our habit of “punching above our weight” , as well our commitment to diversity and treating all of our colleagues – not just the lawyers – as crucial in providing our clients the best advice and service possible. While we do not plan to rest on our laurels and consider this just an incentive to start working even harder, we are happy that our hard work as well as ethos have been recognized by our industry. What challenges do you expect this year on a professional and personal level? — As for personal challenges, I think we should all stabilize and slowly move from this state of emergency to something more routine. It will not be easy: it was interesting for us to follow people's emotions and to take care of employees at the HR level. Based on our surveys and conversations we had with our staff, we noticed that challenges faced by HR team increased by 6 or 7 times, including the general increase in people's anxiety and the difficulty in transitioning from the current situation back to normal. For all of us who work in teams, this will be a very challenging period because it will require a lot of skills and empathy to take care of people. In order to provide full support to our team members, we reached out to a business coaching professional (who is also a certified therapist) so they can also turn to them for advice and tips when dealing with the current challenges – from struggles of remote work to anxiety about the ever changing situation. These skills are useful in dealing with other, more regular business challenges, and our colleagues can also use this coaching opportunity to pursue other areas of professional and self-development 

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A GLOBAL LEADER WITH FOCUS ON SUSTAINABLE GROWTH Despite Pandemic, Metito Plans Expansion in New Territories Starting with the Republic of Serbia

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RAMI GHANDOUR

Metito Managing Director

etito Managing Director, Rami Ghandour, talks to Diplomacy&Commerce, about the company and the launch of its UAE-based Serbia-specific platform, EmSerb Water, set to develop lifeline water projects, starting with Euro 32 Million wastewater treatment plant in Zrenjanin.

Could you please tell us more about Metito, and which business areas you cover? — Globally, Metito is recognized as a brand of trust for intelligent water and alternative energy management solutions. Our operations cover three business areas: design and build, specialty chemicals, and utilities. Metito provides customized and comprehensive solutions across the full spectrum of the industry with focus on desalination, wastewater reuse and recycling; industrial solutions — up to and including hyper-pure water and structures both greenfield and brownfield schemes under different project finance structures. The Group also provides custom alternative energy

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development and management solutions for utilities and corporations looking to uphold sustainable operations through generating clean, emissions-free energy. Throughout our sixty plus years of operations, Metito pioneered many industry firsts; the first to introduce the reverse osmosis (RO) technology for drinking water outside the US in 1972 and the first to pioneer Public Private Partnership (PPP) agreements for both wastewater treatment and bulk surface water supply concessions in the Middle East and Sub-Saharan Africa. We are also leading the trend for mega seawater desalination plants and mega water treatment, recycling, and reuse plants particularly in the Kingdom of Saudi Arabia and Egypt.

GLOBAL PRESENCE

We are currently serving over 45 countries across Asia, Africa and now proudly serving Europe, through our newly launched platform EmSerb Water Amidst an evolving pandemic Metito is expanding in new territories. What is EmSerb and could you tell us about your latest project win in Serbia? — Metito is a resilient company with a wellrounded and experienced management, access to vast resources and a great team. Despite the global challenges, the company successfully navigated the year 2020, and even launched some of its most iconic projects at the height of the pandemic. Our trajectory for growth involves

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organic and inorganic growth and this move to expand into Europe was a planned next step that we are proud to have achieved in relatively a short span. With launching the EmSerb Water platform we mark Metito’s first official operations in Eastern Europe and we look forward to the next stage of growth in this promising territory. EmSerb Water is a privately held company established by Metito in the United Arab Emirates to serve the Serbian market as a platform for investment and operations into the water sector. Emserb is actively developing and investing into water and wastewater infrastructure projects in Serbia, working on our first project and already developing a pipeline of new ones. The company will also introduce advanced water technology from the UAE to the Serbian water, which is in line with the strategic relation between the UAE Government and the Government of Serbia. This is in support of the ongoing bilateral treaties which aim to support the development of sustainable projects in the Republic of Serbia to support its path towards the membership status in the family of the European Nation countries. Most recently, Metito won the contract to develop its first wastewater treatment plant and the largest in terms of capacity in Serbia, under an engineering, procurement, construction, financing, management, maintenance, and transfer basis. EmSerb Water will be developing the €32 Million project with a capacity of 25,000 m 3/day plant in Zrenjanin, following the highest European and global standards, providing the city with sustainable wastewater treatment. The tenor of the agreement is 25-year period followed by transferring the assets back to the Government.

This project is in line with "Serbia 2020-2025" national investment plan, and the focused investment on water infrastructure. The plant will provide new employment, a cleaner more sustainable environment, and attracts direct investments in the country. The project has the attractive quality of requiring no additional financial commitment from the public sector. The city already collects wastewater tariffs from residents, although municipal sewers are not currently connected to treatment infrastructure. The existing tariff will allow EmSerb to recover its costs, so people will not pay anything extra, making the project both bankable and affordable. What’s your experience with PPP projects and what are the key benefits that can result from private funding? — According to the World Bank ‘s ‘A State of the Sector | May 2015’ report, only 11% of population is connected to wastewater treatment and most small communities (<2,000 people) do not have wastewater treatment plants serving them. The same report also highlights how effluents are mostly treated below Urban Wastewater Treatment Directive standards (MEMSP 2011), resulting in significant environmental and public health hazards. To improve this status and access to sanitation services, a farreaching National Water Management Strategy put in place by the government of Serbia, with €1 Billion set for the construction of water and sewage pipelines, drinking water and wastewater treatment facilities across the country. The Zrenjanin project is in line with this plan and the country’s planned vision for growth. With infrastructural projects being capital intensive, the introduction of the

PPP model is therefore a progressive solution that can secure lifeline projects without further pressure on public budgets, thereby supporting economic growth. With the private sector playing a bigger role in infrastructural projects, further transfer of technologies, longterm commitment, direct investments, and growth of the GDP are all guaranteed and without increasing public debt. There is a growing need for such projects and the trend is gaining momentum– especially in recent years where optimizing government spending has become a priority.

RESILIENT BUSINESS

Despite the global challenges, the company successfully navigated the year 2020, and even launched some of its most iconic projects Many governments have fully embraced the private sector coming on board and taking over large-scale projects for their full utility provision. This has proved to be a win-win for all involved. We are confident this project will be a benchmark for other similar projects in Serbia and the region. As for our experience with this model, Metito has pioneering projects across Asia and Africa. Metito launched the first bulk surface supply PPP project in Kigali, Rwanda and was once the largest foreign investor in the water sector in China treating over 1 million m3/day. Metito has also pioneered the model in the United Arab Emirates in Dubai in the 1990’s , being the first to develop

Agricultural Drainage Treatment, Recycling and Reuse Plant, Al Mahsamma – Egypt, 1,000,000 m3/day

water concession contracts with private entities under Build Own Transfer (BOT), Build Own Operate (BOO), and Build Own Operate Transfer (BOOT) schemes. We expect that the model will carry many long-term benefits to the Serbian community, especially with the tremendous support being provided by the progressive leadership of the Republic. What’s next for Metito? — In this region, we are currently assessing several new opportunities in Serbia and further in the Balkans and EU member countries. There is great potential and we intend to grow our business in this territory in line with our modus operandi, local presence, global knowhow. In general, we are looking to continue growing in existing markets across our business lines. We will also continue investing in technology – which is disrupting the industry- to provide new opportunities to address the challenges of poor profitability/productivity, project performance, skilled labor shortages, and other sustainability concerns. There are vast opportunities to optimize cost of construction and maintenance, enhance quality, and efficiency through new/innovative technology adoption – those companies who are adopting new technology will have a distinct advantage going forward and we intend to be leading on this front. Without a doubt, there are vast opportunities for well-run quality companies in the water and wastewater industry with more projects being falling under PPP schemes. These projects are capital intensive, with our experience and global access to sustainable financing, we are on the way to secure many more milestones for Metito, and for the communities we serve. 

Seawater Reverse Osmosis Plant, NEOM – KSA, 125,000 m3/day

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Foto: Predrag Vučković

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BELGRADE WATERFRONT IS A SUCCESS STORY

The most valuable part of the Serbian capital, on the right bank of the Sava, has experienced a revival in the last few years. Thanks to the synergy of Abu Dhabi-based Eagle Hills and the Government of the Republic of Serbia, Belgrade Waterfront is today recognized as a place that unites the highest housing standards, first-class retail, cultural events and entertainment for all visitors and residents 24

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or tourists, Belgrade is well-known for its exciting nightlife, picturesque landscape of the confluence of two magnificent rivers and its tumultuous history etched into the sidewalks and facades. Belgrade is unique because it is a fusion of the traditional and modern. This unique feature of the Serbian capital gained a new dimension over the past four years, providing a completely new concept of living and leisure to its residents and visitors with the realization of the biggest infrastructural project in the recent city’s history – Belgrade Waterfront. “Belgrade Waterfront is so much more than an urban solution to revitalize the Sava riverfront and the old city. It is a manifestation of the modern vision of Belgrade as a city of infinite possibilities. It is a fusion of the world’s metropolises we long to visit – a comfortable, healthy, and sustainable way of life we strive to achieve in this contemporary world, and new business potentials that have waited way too long for better times to come to be fulfilled. That time has finally arrived”, says Ivana Lukić, the Head of Marketing at Belgrade Waterfront. In 2014, the initial idea behind the project was to revive and restore one of the most valuable parts of the capital, on the Sava riverbank, to become a central tourist attraction and a focal point of happenings, where Belgraders could revel year-round, rather than being a final resting place for old ships. For this reason, the opening of The Sava Promenade, the redesigned esplanade, was the first and symbolic step towards the development of this project. The story does not end here – over the last several years, many public spaces were opened, which not only changed the face of Belgrade but also the habits of people who live in it. Today, the Sava riverfront is a

meeting place for families, young and urban people, the first choice to host business meetings or relax after a long day, as well as spend quality time with friends and family. In the year ahead of us, the project will enter the second phase of its construction, during which we can expect the opening of new construction sites, as well as residents moving into buildings BW Arcadia, BW Aurora and BW Metropolitan.

FUTURE

The selection of apartments, business, and public spaces in Belgrade Waterfront is the reason this project is hailed as “a neighbourhood of the future” The selection of apartments, business, and public spaces in Belgrade Waterfront is the reason this project is hailed as “a neighbourhood of the future”. With a capacity for up to 14,000 people, and contemporary architectural solutions being used in each of its six districts, Belgrade Waterfront is a strong argument for including Belgrade in the group of the most developed metropolises and an attractive foreign investment destination. Such a result on a domestic and global scale can be attributed to the extensive know-how of Eagle Hills, which portfolio encompasses similar projects in countries such as Jordan, Morocco, United Arab Emirates, Oman, and Ethiopia. The backbone of all these projects is ambitious and thorough planning and living according to the highest internation-

al standards. However, Belgrade Waterfront is always nurturing the local environment, architecture, traditions, and culture. This new riverfront hub is now in a full swing – it intertwines a new sense of community with historic cultural jewels such as Sava Square and Belgrade Cooperative building, today’s HQ of Belgrade Waterfront. Kula Belgrade will be one of the cornerstones of this community. The famous hotel and residential brand St. Regis will soon open its first branded residences in Europe in this building, setting new standards for the residential offer in the city. With the arrival of this brand to our market, Belgrade will be richer for a new category of 5+ star hotels, which will change the kind of foreign tourists interested in visiting Serbia and the capital and show it to the world in a completely new light. The conclusion is clear – every city needs a project such as this one as a catalyst to attracting foreign investmenta, enticing tourism and boosting the economy while offering citizens a completely new lifestyle. Engaging Serbian companies in the implementation of the project, as well as world-class architects and designers who have extensive experience in developing mega-projects globally - from designing to the construction phase - guarantees high-quality performance, but also creates new jobs. Belgrade Waterfront is a success story which will inspire other investors in the following years to come to Serbia and to add a long-awaited value to the riverbanks and the city centre area. With the development of Belgrade Waterfront, the Serbian capital will surely have something to offer to global travellers and will become a new, main urban hub in the region. 

GALERIJA BELGRADE SETS NEW STANDARDS Despite all the challenges that marked the year behind us, the biggest shopping centre in the region - Galerija Belgrade - was opened, reconstruction of the Sava Square was completed and soon, Kula Belgrade will take its final form. Galerija Belgrade stands out from everything else that exists on the market today, and not just in terms of size. The good mix of tenants is just a base that Galerija is built upon as it provides even better offer of different goods and services.

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ECONOMY

THE BIGGEST WORLD’S PLAYGROUND

Every second there is filled with excitement and fascinating experiences he region’s largest and first-ever multi-cultural festival park conceptualised and created in 1997, Global Village is a sprawling 1.6 million square meter destination for the whole family. Situated in the heart of Dubai, it is a one-stop-shop for entertainment, shopping, dining and rides, taking you on a journey across the world, uniting cultures and creating wonder.

Despite its seasonality, Global Village welcomes around 7 million guests every season, making it the park with the 4th largest daily footfall in the world. Inherent to its cross-sectoral and diverse fabric, the theme-based park, aims to bring together extraordinary people from around the globe to inspire wonder and redefine cultural experiences. Harnessing the world's diversity and

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THE UNITED ARAB EMIRATES 2021

creativity into authentic experiences, Global Village, offers novelty appeal and intriguing glimpses, across all geographies and demographics, building and nurturing genuine human connections. With the intent of bridging the gap and bringing the world together, Global Village strives to create happiness in every moment by celebrating the diversity and wonder of our world.

COOPERATION

by Mina Vučić

SERBIA MERGING WITH THE MIDDLE EAST

Economic cooperation and support between the Republic of Serbia and the United Arab Emirates has never been better

he United Arab Emirates is an open economy characterized by its high value of GDP per capita and a large surplus. Thanks to the government's efforts, economic diversification has reduced the economy's reliance on oil and gas, which today accounts for only 25% of total GDP, with a shift in the economy to aluminium production, tourism, telecommunications, information technology and renewable energy. Economic cooperation between the Republic of Serbia and the United Arab Emirates, according to the avail-

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SERBIAN COMPANIES PARTICIPATED IN THE INTERNATIONAL FOOD FAIR NAMED GULFOOD 2020, ORGANIZED BY THE SERBIAN CHAMBER OF COMMERCE AND THE SERBIAN DEVELOPMENT AGENCY

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able data from the Republic Bureau of Statistics, states that in the period between January-December 2019, the total foreign trade exchange with the UAE amounted to 162.9 million dollars. During this period, Serbia exported goods worth 135 million dollars to the UAE, and imported goods worth 27.9 million dollars. As of November 2020, trade in goods decreased by 23.6%, compared to the same period in 2019, while exports decreased by 27.27% compared to 2019. Products that have the high potential for export to this market include: automatic circuit breakers for voltag-

es less than 1000 volts, which, according to preliminary data for 2019, the UAE imported over 130 million USD. Fruit trade, especially with fresh apples, but also with frozen berries, due to the characteristics of the fruit itself and the length of transport, but within the fruit group, plums, peaches, and nectarines create products with significant potential, which are obtained by processing these fruits. Once pneumatic tires for passenger vehicles and trucks, are added up to fruits, according to preliminary data for 2019, the UAE imported over a billion USD of these products, overweighing slightly more on the truck tires, representing a large market for these products. The UAE also imports various plastic products from Serbia, boxes and crates, accessories for pipes and noises, floor coverings, lids, and shutters. In the furniture sector, wooden furniture has significant potential to increase its trade. In general, various ready-to-eat food products have great potential, as well as vegetables. The UAE imports large quantities of peppers, it is a question of price competitiveness of Serbian peppers on this market, but due to specific varieties of red peppers as well as pepper processing products, this product will be in demand on the UAE market. Further potential is allocated to textile products, specifically undershirts, T-shirts, and other similar goods. There is significant competition with Turkey, which is even closer to the UAE. Furthermore, there are also different types of cheeses, according to preliminary data, the UAE in 2019, imported cheeses worth over 140 million USD. Potentials for ex-

port of construction joinery and other products for wood construction were recorded. The United Arab Emirates is a promising market for the export of chicken eggs, walnuts, cranberries, blueberries and frozen and dried vegetables. Back in the previous decades, Serbia had a relatively modest cooperation with the United Arab Emirates. However, since October 2012, thanks

IN 2012 THE UAE BECAME ONE OF THE MOST IMPORTANT ECONOMIC PARTNERS OF SERBIA to high amounts of successful meetings, a new momentum was gained, and the UAE became one of the most important economic partners of Serbia among the Arab Gulf countries and the Middle East in general. For that reason, the Chamber of Commerce of Abu Dhabi, expressed interest in opening a representative office in Belgrade, based on a bylaw of the Minister of Economy, which regulates the procedure of registration of representative offices of foreign chambers in the Republic of Serbia, which began to apply on March 4, 2016. In the past period, the Serbian Chamber of Commerce has realized a whole series of events for the purpose of connecting business people from both countries. Serbian companies participated in the International Food Fair named

Gulfood 2020, organized by the Serbian Chamber of Commerce and the Serbian Development Agency. In July 2019, Chamber of Commerce in Serbia, in agreement with Dubai’s Chamber of Commerce, began preparations for the opening of Serbian Commerce offices in Dubai. Marko Selaković was appointed the representative of the Serbian Chamber in Dubai. On March 24th and 25th, of 2019, the President of the Chamber of Commerce and Industry paid an official visit to the Emirates of Dubai and Abu Dhabi, within the project "Serbia-country in focus", which is being implemented with the support of the Chamber of Commerce and Industry of Dubai. In August 2013, the Ministry of Construction, Transportation and Infrastructure of the Republic of Serbia signed a Memorandum on Investment in Infrastructure with the company "Global Capital Advisers Management" from the UAE, which provides for the establishment of a joint venture for financing and development of industrial and infrastructure projects in Serbia. in the field of agriculture, tourism, housing, road infrastructure, as well as the implementation of a specific project – such as Cargo Center Lađevci. The first session of the Joint Committee for Cooperation between the Government of the Republic of Serbia and the Government of the United Arab Emirates was held in Belgrade, on April 8th and 9th, of 2019. The co-chairs of the Committee are, his excellency, Mr. Siniša Mali, Minister of Finance of the Republic of Serbia and, his excellency Mr. Sultan Ahmed Al Jaber, Minister of State and Member of the Government of the United Arab Emirates. 

FOREIGN TRADE EXCHANGE In the period between January-December 2019, Serbia had a total foreign trade exchange with the UAE that amounted to 162.9 million dollars THE UNITED ARAB EMIRATES 2021

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ECONOMY

CREATING A BETTER FUTURE

The UAE develops survival strategies in difficult times and battles the world pandemic with style he economy of the United Arab Emirates is the second largest in the Middle East, after Saudi Arabia, with a gross domestic product (GDP) of US$354 billion in 2020. The UAE has been successfully diversifying its economy, particularly in Du-

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bai, but still remains heavily reliant on revenues from petroleum and natural gas, which continue to play a central role in its economy, especially in Abu Dhabi. Tourism is one of the bigger non-oil sources of revenue in the UAE, with some of the world's most luxurious hotels being based in the

THE UNITED ARAB EMIRATES 2021

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by Mina Vučić

Emirates. A massive construction boom in the past couple of decades, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects.

Unfortunately, just like dozens of other economies around the world, the UAE has experienced some negative impact from the COVID-19 pandemic. Trade, tourism and transportation are the foundations of the UAE economy. Travel restrictions have impacted tourism, businesses and the supply chain of businesses in the UAE. The UAE’s Central Bank has recently reported that they have seen a decline in economic activity as a result of COVID-19. Recent reports of the International Monetary Fund project state the real GDP of the UAE as -6.6 percent for 2020, citing the impact of low oil prices as one of the key reasons for the

decline in the UAE economy. The UAE Government has recently introduced several policies to boost the economy and moderate the impact of COVID-19, with stimulus measures worth about 18 per cent of the GDP

TRADE, TOURISM AND TRANSPORTATION ARE THE FOUNDATIONS OF THE UAE ECONOMY

of the UAE. Out of the AED 100 billion worth of monetary aid announced so far, the majority of the funds have been earmarked towards consumers. Dubai and Abu Dhabi have announced individual fiscal packages in addition to the AED 16 billion stimulus announced by the UAE Cabinet for all seven Emirates. In total, the combined size of all the stimulus programs now exceeds AED 120 billion. In the wake of COVID-19, authorities worked swiftly to implement measures to contain the pandemic, postponed major events such as Dubai Expo 2020, imposed social distancing, and large-scale testing.

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Over the medium-term, and dependent on the speed of global recovery, growth in the UAE is expected to reach 2.5% by 2022; supported by the government’s mitigation and recovery plans, higher oil prices and production capacity, improved business sentiment and a boost from Expo 2020 Dubai. The Abraham Accords, which established relations between the UAE and the State of Israel, could expand opportunities as it also involves trade and

THE UAE IS LIKELY TO EXPERIENCE SIGNIFICANT GROWTH AND RECOVERY IN 2021 technology cooperation. Modest inflation will return as growth rebounds.

Dubai has been recently awarded a “Safe Travel Certification” from the World Travel and Tourism Council and the UAE also ranks third in COVID-19 testing per one million of population. With the gradual easing of measures, continued government stimulus and with the upcoming Expo this year, many economists are of the view that the UAE economy will have experienced significant recovery by the end of 2021. 

GROWTH Over the mediumterm, and dependent on the speed of global recovery, growth in the UAE is expected to reach 2.5% by 2022

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EVENT

EXPO 2020 DUBAI

CLICK ON ICON

by Mina Vučić

Where creating a better world is in your hands

xpo 2020 Dubai is envisioned as a once-in-a-lifetime celebration of ideas, culture, collaboration and innovation. The largest event ever staged in the Arab world, is also the first World Expo to be held in this region. Truly an event of massive scale and proportions, everything about the event brings to mind superlatives. It aims to increase awareness about the challenges faced by humanity on

a global scale. It offers many great opportunities such as networking and promoting international relationships worldwide. Dubai Expo is no humble undertaking, as the size of its pavilions span over 600 football pitches and represent over 200 countries and organizations. It will beat all records with an astounding estimated number of visitors, which are predicted to reach over 25 million, with over 70% coming

from outside the UAE. Yet another interesting fact is the number of restaurants, which will reach over 200, and the event itself will last for half a year. The theme of the Dubai Expo is connecting minds, and creating the future, through opportunity, mobility and sustainability. The innovations presented during this event will shape the future of the UAE. It sure is exciting times ahead for the city of Dubai! 

THE UNITED ARAB EMIRATES 2021

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CLICK ON ICON

FOCUS

THE CITY OF THE FUTURE

A journey to sustainability - the UAE’s Eco-utopia

asdar City, also known as the City of the Future, is one of the world’s most sustainable urban communities and the first ever human settlement with no negative environmental impacts- zero waste, zero carbon, car-free, fed by recycled water. This planned city project, being constructed beside Abu Dhabi International Airport, was designed to be a hub for clean tech companies, a low-carbon development made up of a rapidly growing clean-tech cluster, business free zone and residential neighborhood with restaurants, shops and public green spaces. The design of the city, from a distance, looks like a cube and Arabesque patterns have been used on the terracotta walls. The plan was to house up to 50,000 people and 1,500 businesses. A mix of electric vehicles and clean-energy vehicles will be used for transportation within the city. Believe it or not, there are no light switches or water taps in the city. Movement sensors are used instead, to cut consumption of light and water by more than 50%! On top of that, the city is powered by a 54-acre field of 87,777 solar panels, in addition to panels on roofs. Living in one of the hottest places on our planet, this smart city has created yet another extraordinary discovery. The

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THE UAE 2021

city remains around 15 degrees Celsius cooler than the surrounding area because of its unique design – the 148feet high wind tower which helps push cool breeze through the streets. How futuristic! The settlement is designed to be at least 40% more energy and water efficient than conventional buildings. Each structure is being built by low-carbon cement as well as other locally sourced and verified materials, and 90% of the construction waste was placed to be recycled and reused.

MOVEMENT SENSORS ARE USED INSTEAD, TO CUT CONSUMPTION OF LIGHT AND WATER BY MORE THAN 50%!

A very ambitiously devised project called Masdar City is the most expensive and most grandiose experiment of today that also entails urban planning. Abu Dhabi, the largest of the United Arab Emirates, first announced the project in 2008. Today more than 535 companies from six continents have operations based in Masdar City, including Lockheed Martin, Mitsubishi Heavy Industries, Schneider Electric, Siemens, and Etihad Airways. 

THE UAE 2021

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TRADITION

CITY OF GOLD

The UAE’s shining heritage tells a precious tale old holds great sentimental value to the Emiratis, as the precious metal has alchemized into a symbol of heritage, history, and trade exchange between cultures. This could

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be one of the major reasons for the existence of such an expansive market solely for the trade of this precious yellow metal. It is situated in the Deira region in between Dubai Fish and Corniche, which can be easily reached

THE UNITED ARAB EMIRATES 2021

by Mina Vučić

by any tourist or visitor to this global city. Gold is more than just a great selling point of the Emirates, as along with diamonds, but more importantly, it’s a beloved tradition in the Middle East.

This traditional gold market in Dubai is the largest of its kind in the whole world. With its narrow labyrinthine alleyways, carved wooden roofs and waterfalls of glittering gold jewelry displayed in hundreds of shop windows, the Dubai Gold Souk hearkens back to the early 1900s, when it was founded. There were only a few sellers of gold during its initial phases. At that time, encouraged by a tax-free and trade-friendly environment, a handful of merchants set up shop in an area of Dubai, not far from the creek. This creek and harbor on the Arabian Gulf facilitated the trade that supported the import and export of gold, as well as the merchants who came to buy and sell it. It grew considerably in the 1940s

when new trade policies encouraged Iranian and Indian entrepreneurs to set up shops, but it was the oil boom of the 1970s that made the Dubai Gold Souk the icon it is today. Since then,

IN THE UAE, THE PRECIOUS METAL HAS HAS ALCHEMIZED INTO A SYMBOL OF HERITAGE, HISTORY, AND TRADE EXCHANGE BETWEEN CULTURES

the market has flourished, and now, more than 400 retail and wholesale shops operate in this bustling district. For years, purchasing jewellery from the gold souks in Dubai has meant assured purity, besides quality workmanship and variety in design. At present, besides the large collection of gold, the major other precious metals sold in the market are platinum, white gold and diamonds. The variety and range of designs of jewelry range from the old and conservative to sleek and modern. Different gold hues are also on offer: yellow, white, purple and even pink. Many of these traditional gold merchants can also create custom-made items. It might be to your surprise, but gold can be purchased at much lower pric-

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es on the market if bargained well with the sellers! Tight competition among dealers has paved the way for such a situation in the market. The Gold Souk manages around 10 tons of gold every day. What is even more spectacular is that once roaming around these streets, visitors would suddenly rush into a huge glass case which stores the world’s largest ring that holds the Guinness World Record. This classy spectacle is called Star of Tiabac. The expensive ring was sculpted by Taiba Gold and Saudi Arabia Jewelry and weighs around 64kg adorned with charming 615 Swarovski stones. Talk-

GOLD CAN BE PURCHASED AT RATES DIFFICULT TO FIND ELSEWHERE IN THE WORLD ing about luxurious tradition, the 5.1kg of the weight of this heaviest ever ring is composed of precious stones alone, valued around $3 million! The ring cost $547,000 to make back in 2000, when gold was priced at about $250

an ounce. Gold prices has since soared and are now trading at about $1,497. The piece is owned by Dubai-based Taiba, and is displayed at the Gold Souk in Dubai as well as the Sharjah Watch & Jewellery Middle East Show. The magnificent sights that one can see in Gold Souk are indeed unique, reflecting one of the Emirates' oldest traditions. The patterns that you get to behold from these gold shops are unique to the Arab world. Whether it is the headgear kind of large necklaces, earrings, rings, bracelets, or bangles, all of these accessories are sculpted in most traditional Middle Eastern patterns.

VARIETY IN DESIGN For years, purchasing jewelry from the gold souks in Dubai has meant assured purity, besides quality workmanship and variety in design

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CUSTOMS

RAMADAN

by Mina Vučić

Empty your stomach to feed your soul amadan begins during the 9th month of the Islamic lunar calendar, when the new crescent moon can first be seen, and holy month is extremely important to Emirati people, as well as other Muslim individuals who reside in the UAE. During Ramadan,

Muslims fast from sunrise to sunset every day during the month. For many, Ramadan is a time to feel closer to God, pray, spend time with loved ones, support charities and remember those less fortunate while they’re fasting. During the last 10 days of Ramadan, Muslims celebrate the Laylat Al Qadr, the holi-

est night of the year. It commemorates the night that the Quran, was first revealed to the Prophet Muhammad (PBUH). This occasion moves around accordingly to the lunar calendar, but when visiting the UAE during Ramadan it is crucial to know not to eat, drink, smoke or even chew gum in public. 

THE UNITED ARAB EMIRATES 2021

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CULTURE

MARHABA!

UAE hides away a deep-rooted culture that emanates from the desert and looks to the international seas he beautiful United Arab Emirates was formed as an independent federation on December 2nd, 1971 and originally included six emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain and Fujairah. Since the UAE is home to a large ex-

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patriate community, a number of other languages are widely spoken such as Persian, Hindi, Urdu, Bengali and Chinese. Since then, the seven Emirates have forged a distinct national identity. The UAE’s political system combines tradition and modernism which enabled the country to devel-

THE UNITED ARAB EMIRATES 2021

by Mina Vučić

op a modern structure while ensuring that traditions of the past are maintained, adapted and preserved. Hosting such an international community in the Middle East, the UAE is filled with cultural heritage and diversity bringing absolute spontaneity and significance to the Arab world.

In nearly five decades, the nation has transformed from a tribal culture reliant on agriculture and fishing to an entrepreneurial success story with world-class luxurious infrastructure. The leadership has improved education, advanced health care and embraced change as the UAE modernizes, consistent with its history and cultural values. Family is Key to the Emirati society and is based upon the long-held values of Emirati tribal kinship. Children are highly prized and families are close knit, preferring to reside in the same neighborhood. The UAE Constitution guarantees equal rights

for both sexes. Women are awarded the same legal status, access to education and employment, claim to titles and the right to inherit property.

THE BEAUTY OF THE UAE'S CULTURAL HERITAGE BRINGS VALUE TO ARAB STATES, AS NUMEROUS SITES ARE UNDER UNESCO HERITAGE

According to the World Economic Forum 2016, the UAE is a leading country in the region for equality. Women now play a major role across the workforce, including in the military, business, and government. The beauty of the UAE's cultural heritage brings value to Arab states, as numerous sites are under UNESCO heritage. The City of Sharjah was voted the Cultural Capital of the Arab World and houses a museum recording local history in the Sharjah Fort which was once the residence of the Ruling Family. Another hotspot is the oasis city of Al Ain, known as the ‘Garden City’ with its natural springs and

THE UNITED ARAB EMIRATES 2021

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palm groves, being another UNESCO World Heritage Site. There is much to do in the town, from wandering the lush groves of palms to exploring its interesting landmarks and visiting the great Al Ain National Museum. This cultural institution exhibits archaeological finds from around the city including stone-age and bronze-age remains. Also it is a palace and former residence of Sheikh Zayed, who later became the president of the UAE. Most of the information throughout the palace is described in Arabic, so visitors need to get familiar with a little history before their visit. UAE is also famous for its contemporary literature, poet-

IN LESS THAN FOUR DECADES, THE NATION HAS TRANSFORMED FROM A TRIBAL CULTURE RELIANT ON AGRICULTURE AND FISHING TO AN ENTREPRENEURIAL SUCCESS STORY WITH WORLD-CLASS LUXURIOUS INFRASTRUCTURE

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ry and performing arts. They are taking their place in popularity particularly that of ‘spoken poetry’ which has its roots in historical tradition. An example would be Nabati poetry which has long been known as the ‘people’s poetry’ and is still very much a part of modern literature and has over centuries recorded the lives and habits of changing civilizations. The UAE has a rich culture and heritage that reflects traditional Arab and Islamic values. The modernization of the Emirates, new environment and terrain also influenced the lifestyle, making it a visitors hotspot in the Middle East. 

MUSEUM

THE FLOATING DOME See humanity in a new light ouvre, Abu Dhabi represents the dynamic nature of the contemporary Arab world, while celebrating its vibrant and diverse heritage. The Museum went public in November 2017, as a result of collaboration between France and the United Arab Emirates

to develop a new kind of cultural institution. Designed by the Pritzker Prize winner, Jean Nouvel, on the lagoon island of Saadiyat, the Louvre Abu Dhabi museum city covers nearly 97,000 m²! Its floating dome perception is thanks to the 503,000 cubic meters of sand underneath it which lay the foun-

by Mina Vučić

dations. From an architectural point od view, its minimalistic and contrasting series of white buildings take inspiration from the medina and low-lying Arab settlements, and the environment of the structure inspires to enjoy the ever-changing relationship between sun, sea, art and architecture. 

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TOURISM

LUXURY IS A STATE OF MIND

The Magic behind World’s One and Only 7-star Hotel 44

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by Mina Vučić

here’s no doubt luxury and shine attract tourists to their next destination, or even to re-visit their favorite spot on the planet. Did you notice that Dubai has a lot of “world’s largest” “world’s most expensive”, “world’s tallest” records? In fact, Dubai is breaking world records so often, that the famous record book has set up an office in Dubai just to keep track of them all! It is a difficult task to place everything what Dubai’s offers in one article, as the Emirate is filled with everything luxurious and grand you can possibly think of, popping world records in the world, and attracting millions to witness the magic. Focusing on a very special place in Dubai, the Burj Al Arab Jumeirah Hotel has been a topic of discussion and admiration for years, representing the highest peaks of luxury in this Emirate paradise. Dubai has transformed from a small fishing village and pearling center to a regional transport and tourism center for the Middle East. When speaking about tourism, one has to mention the high amount of world’s most famous

hotels all located along Dubai’s coast. A hotel which is placed on a wish-list of many and is the world’s only 7-star hotel located in the Emirate, the one and only - Burj Al Arab. Located 280m off the shores of Dubai, Burj Al Arab was built on a man-made island. Guests access it via a bridge road that is 340m long. It just wouldn’t be a 7-star hotel without an underwater restaurant, would it? Also, it is the 4th tallest hotel in the world, but 39% of its height cannot be occupied. Burj Al Arab Jumeirah – which stands at 321m – is 14m taller than the Eiffel Tower and only 60m shorter than the Empire State building. The 320-meter-high structure is covered in a complex lighting system that at night is synchronized to resemble fire and water, how beautiful!

BURJ AL ARAB WILL FOREVER REMAIN A GLOBAL ICON OF ARABIAN LUXURY

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It has only 202 bedroom suites, quite a small number for a hotel of this grandeur and size! However, they sure make up for it with their high prices. Rooms start at around $1,000 and can run up to $24,000 per night, making it one of the most expensive hotels in the world! The eiderdown duvets in the rooms are some of the most exclusive on our planet, and if that isn’t enough, there are 17 types of pillows available to guests on the pillow menu. There are 142 One Bedroom Deluxe Suites, 28 Two Bedroom Deluxe Suites, 18 Panoramic Suites, 4 Club Suites, 6 Diplomatic Suites, 2 Presidential Suites and 2 Royal Suites. The grand 780 square meters Royal Suite is fit for a sheikh, with an exquisite majlis style lounge, library and cinema room, along with two master bathrooms, each with fullsize Jacuzzis and separate five-head rain showers. In addition to being the tallest all-suite hotel in the world, in 2008 Burj Al Arab also broke the Guinness World Record for the most expensive cocktail, valued at around $7,500. It also created the world’s largest tin of caviar in 2016, which contained 17kg of Empress caviar – the world’s only fully-certified organic caviar from native-raised sturgeon. The finest and most exclusive mate-

rials were sourced for finishing the interiors of Burj Al Arab. Amongst the fine items brought in to create the magical interiors were custom-made carpets and rugs from South Africa and India; marble from Brazil and Italy; wooden doors from Dubai and chandeliers from the UK. Every week, a team of up to six florists takes about eight hours

ROOMS START AT AROUND $1,000 AND CAN RUN UP TO $24,000 PER NIGHT, MAKING IT ONE OF THE MOST EXPENSIVE HOTELS IN THE WORLD! to create the flower arrangements in the lobby, using flowers shipped from Holland, Kenya, South Africa and Thailand. The flower team always aims to include a guest’s favorite flowers in the floral displays in their suite, creating bespoke arrangements ahead of their arrival. The interiors of the hotel are gilded in 24 carat gold, approximately 1,790sqm of 24-carat gold leaf was

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used to embellish the hotel’s interiors. Additionally, more than 24,000sqm of Statuario marble is used throughout the hotel, as it features more than 30 different types of it, in the walls and flooring. It is the same marble that was used by Italian artist Michelangelo to create many of his most famous sculptures including the statue of David. Yet another world record, Burj Al Arab is home to the largest Swarovski crystal ceiling in the world. The ceiling in the hotel’s Japanese restaurant, Junsui, is adorned with 21,000 crystals, used to represent the Milky Way. The installation is worth 1.3 million AED. Behind the scenes of the hotel, in the kitchen, two top chefs hold five Michelin stars between themFrancky Semblat at Al Muntaha and Kim Joinié-Maurin at Skyview Bar & Restaurant. Before coming to the hotel, they earned their previous restaurants a combined total of six Michelin stars. Both joined Jumeirah in 2019 to help drive Burj Al Arab as the destination for fine dining in Dubai and to learn from the amazing diversity of cultures in the Emirate. The Burj Al Arab will forever remain a global icon of Arabian luxury, craved to be seen and experienced by tourists worldwide. 

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Articles inside

LUXURY IS A STATE OF MIND

SERBIA MERGING WITH THE MIDDLE EAST

CITY OF GOLD

MARHABA

STRENGTHENING FRIENDSHIP AND COOPERATION

THERE IS A LOT OF ROOM FOR INNOVATION

CREATING A BETTER FUTURE

THE UAE AND SERBIA ARE COMPATIBLE IN MANY ASPECTS

THE CITY OF THE FUTURE