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Channelling energy, inspiration and dialogue Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry, shares his thoughts with Khaleej Times about Dubai as an epicentre of interest for shippers alongside the upcoming CIS Global Business Forum. Excerpts: ■■ Farhana Chowdhury Connecting economies The theme for the inaugural CIS Global Business Forum is ‘Ancient Routes — New Opportunities’. The concept of a new Silk Road, tying the economies of China and Europe via Central Asia, Turkey and the Gulf might have taken a back seat, but business momentum is continuing and investments in infrastructure and logistics along the ancient trading routes are cutting costs and creating new business realities. Dubai is set in a very strategic location and has played a major role in building these linkages. The Forum will feature sessions exploring opportunities on old trading links to neighbouring regions and beyond, as well as the new Eurasian Economic Union and other major topics including Islamic finance, energy and sustainable future, the development of the North-South transport corridor, and the profitability of economic strategy. Engaging in thought-provoking discussions The main objective of the Forum is to give the various stakeholders the opportunity to explore how they can benefit from the emerging economic synergies of the CIS region and the Eurasian Economic Union (EEU) with a consumer base of 350 million, and the development of stronger ties with the GCC, while managing the macroeconomic challenges. The Forum will be a platform to engage in thought-provoking discussions, oneon-one meetings and networking opportunities. The CIS GBF also aims to channel the energy, inspiration and dialogue that the Forum generates into serious business development; turning it into a place where tomorrow’s big deals are conceived and nurtured. The Forum will include discussions on potential investments and updates on the CIS’ economic forecast and predicted changes in the economic landscape. There will also be discussions on how to develop the North-South transport corridor, logistics, oil and energy, Islamic economy and finance, and building the supply chain through this new Silk Road. Trading and investment route potential We believe there is very strong potential for the GCC in developing the routes that run North-South from the Silk Road, and this Forum is an opportunity for the UAE and Gulf-based companies to explore the most promising markets of Central Asian countries. The sessions will highlight Dubai as a major driver in the shift towards real and sustainable economic partnership, which is of much interest to the business sector. Dubai can be the bridgehead for the integration of Middle Eastern economies into China and Central Asia’s global supply chain. Given its location, international connectivity, growing linkages to Africa, the quality and efficiency of its infrastructure, Dubai is an ideal nodal point for trade between Asia and Africa. The North-South Transport Corridor of this Silk Road, which links Dubai with the EEU and Russia offers immense trade and investment opportunities. For Cen-
Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry
The Forum will include discussions on potential investments and updates on the CIS’ economic forecast as well as predicted changes in the economic landscape.
Experts to share insights
We have a very interesting and diverse line up of speakers, with a wealth of knowledge and expertise to share. Some of the key speakers include: ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■ ■■
H.E. Eng. Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy H.E. Sultan Ahmed Bin Sulayem, Chairman, DP World Dr Sahil Babayev, Deputy Minister of Economy and Industry, Azerbaijan Ruslan Alikhanov, President, Argo Investment Company, Russia Jean-Marc Peterschmitt, Managing Director for Countries of Operations and COO for Banking, EBRD, UK Asset Issekeshev, Minister of Investments and Development, Kazakhstan H.E. Kairat Kelimbetov, Governor, Astana International Financial Centre, Kazakhstan H.E. Ahmad Belhoul, Minister of State for Higher Education Affairs, UAE Christopher Hopkinson, First Deputy Chairman, Kazmunaygas, Kazakhstan Barbara Meynert, Chair of Digital Economy Task Force, UNESCAP, Thailand Nurlan Kussainov, Chief Executive Officer, Astana International Financial Centre Authority, Kazakhstan Aidan Karibzhanov, General Director, Visor Holding, Kazakhstan Mammad Karimov, Founder, Khazar Ventures, Azerbaijan Samson Pkhakadze, President, Wissol Group, Georgia Chris Weafer, Founding Partner, Macro Advisory Yu Jianlong, Secretary General, China Chamber of International Commerce, China Taleh Ziyadov, Director-General, Baku International Sea Trade Port, Azerbaijan Ghaith Al Ghaith, Chief Executive Officer, flydubai, UAE Gerald Lawless, Head of Tourism and Hospitality, Dubai Holding, UAE Bakir Izetbegovic, Bosniak Member, Presidency of Bosnia and Herzegovina Prasad Abraham, Chief Executive Officer, Al Hilal Bank, Kazakhstan H.E. Khaled Mohammed Al-Aboodi, Chief Executive Officer, Islamic Corporation for the Development of the Private Sector, Islamic Development Bank, Saudi Arabia Behnam Gurbanzade, Chief Executive Officer, BEST Solutions, Islamic Financing Consultant and Member, CIS Islamic Advisory Council, Azerbaijan Andrey Filatov, General Manager, Russia and CIS, IBM, Russia Kamran Siddiqi, Group Executive CEMEA, Visa, UAE Borisbiy Zhangurazov, Executive Chairman, Kaznex Invest, Kazakhstan Stuart Pann, Chief Supply Chain Officer, HP, US Andrea Catherwood, International Broadcaster
tral Asian countries, Dubai is in the epicentre of interests for a growing number of shippers in Asia and Europe. Secondly, port and storage capacity provides the shortest routes to Southeast Asia, the African continent, India and beyond. Looking at current economic and business-related issues, we will be focusing on a diverse range of current topics such as supply chain logistics, the role of giant economies such as Russia and China, the EEU in diversifying the
CIS economies, and the investment opportunities present. We will also be looking at how the automotive and electronics industries are making the most of the new rail links between China and Europe to speed route to market. What opportunities does this open up for businesses operating in the countries in between and how might global value chains change as new synergies emerge. — farhana@khaleejtimes.com
Mutual business benefits in changing economic synergies The Global Business Forum is set to host one-to-one meetings with investors to enter bilateral business partnerships in the CIS region
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ontinuing with its successful Global Business Forum (GBF) series focusing on exploring new investment opportunities in emerging markets of the world, the Dubai Chamber of Commerce and Industry is organising the first Commonwealth of Independent States Global Business Forum (CIS GBF 2016) entitled Commonwealth of Independent States: Ancient Routes — New Opportunities at Atlantis The Palm Hotel on February 17 and 18. The two-day event, held under the patronage of His Highness Shaikh Mohammed bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai, will bring together a prominent delegate base of heads of states and governments, ministers and dignitaries, leading global CEOs, heads of private banks, sovereign wealth funds, private equity firms and a multitude of global business leaders. Held as part of the Global Business Forum series, organised by the Chamber since 2012 including the three sessions of the Africa Global Business Forum, the CIS GBF will allow investors to hold one-to-one meetings as well as to sign joint investment agreements and to enter into bilateral business partnerships with companies from different lucrative economic sectors. Hamad Buamim, President and CEO, Dubai Chamber, stated that the Commonwealth of Independent States has been identified as a key market of great future potential and this forum in particular will explore the mutual business benefits that emerge from the region’s changing economic synergies as Dubai businesses will have ample scope to utilise their expertise and competitiveness in trade, tourism, logistics and financial services, which are the leading drivers of the emirate’s economic growth. Buamim further added that the forum takes place at a time of global economic slowdown and falling oil prices, which will lead to creating new business realities in various economic sectors, as well as ways to discuss enhancing of cooperation to address these global challenges faced by the business world in
light of the changing trade patterns affecting these markets. “After the revival of the Silk Road initiative that links China to Central Asia and the GCC countries, we believe that big opportunities for the Gulf region lie in reviving a Northern Corridor linking Dubai via Turkey, Azerbaijan to Russia, and the newly founded Eurasian Economic Union — a group of markets with around 350 million people that opens up a gate of opportunities for Dubai traders to benefit from these unexplored business arenas,” he said. Buamim added that since its inception 50 years ago, Dubai Chamber has always been on the lookout for lucrative markets for the emirate’s business community, while seeking ways to build closer economic ties with their global counterparts, which happens to be the Commonwealth of Independent States businesses this time.
After the revival of the Silk Road initiative that links China to Central Asia and the GCC countries, we believe that big opportunities for the Gulf region lie in reviving a Northern Corridor linking Dubai via Turkey, Azerbaijan to Russia, and the newly founded Eurasian Economic Union — a group of markets with around 350 million people that opens up a gate of opportunities for Dubai traders to benefit from these unexplored business arenas. — Hamad Buamim
Dubai Chamber is collaborating with The Economist Intelligence Unit, the Britain-based Economist Group, in the development of the content of the forum, which will have an impressive line-up of prominent stakeholders engaging in dialogue at the highest level of implementation, advising on key strategic directives related to the CIS’s economic outlook, while managing the macroeconomic challenges, alongside thought-provoking discussions, one-on-one meetings and networking opportunities.
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Ancient Routes pave way for new opportunities Vibrant sessions spread across two days to focus on key topics related to changing realities of economic cooperation in the CIS
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he first edition of the Commonwealth of Independent States Global Business Forum (CIS GBF 2016) in Dubai will be addressed by eminent speakers, including world-class business and economic leaders as well as global investors, focusing on key topics related to the changing realities of economic cooperation in the CIS. Under the theme, ‘Ancient Routes New Opportunities’, the Forum will feature vibrant sessions exploring opportunities on old trading links to neighbouring regions and beyond as well as new Economic Union Eurasian alliances. Other major topics include Islamic finance, energy and sustainable future, the development of transport and logistics corridor between the north and south, and the profitability of economic diversification strategy. “The Forum in its first edition in Dubai is an opportunity for the UAE and Gulfbased companies to explore the most promising markets of Central Asian countries. It will inspire in-depth dia-
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logues between investors and officials on economic trends and plans to attract investments and seek partnerships for the future,” said Hamad Buamim, President and CEO of Dubai Chamber. Buamim pointed out that the participation of a group of prominent speakers from the decision-makers in the business world would enrich the discussions at the Forum, and reveal the broad prospects for economic cooperation between the two regions. The sessions will highlight Dubai as a major driver in the shift towards real and sustainable economic partnership, which is of much interest to the business sector. The first day of the Forum will look at the reorientation of CIS Business and the mutual benefits that come from the emerging CIS-GCC Cooperation Coun-
The CIS GBF 2016 is part of a series of global forums for businesses launched by Dubai Chamber to bring together leading players from various governments and institutions in order to support the development efforts, and explore new investment opportunities in emerging markets around the world.
cil relationship. Sessions will also examine the role of Sovereign Wealth Funds and focus on the transformation of the CIS and Dubai, providing tangible insights into opportunities, challenges and synergies. Another key session on the first day will be on the topic, Future Energy — After the Oil Age. The Forum will also see some of the region’s leading entrepreneurs discussing the potential of the emerging private sector. The second day will examine new opportunities in developing the North-South transport corridor. One of the sessions will look at the impact of the Silk Road on supply chains while another will discuss the challenges of diversification and look at the lessons from Dubai in building up new industries. A session on the topic, ‘Connections along the Silk Road’ will draw attention on the role of such hubs such as Hong Kong and the potential for cooperation between Dubai and Hong Kong as new business connections emerge. Other major sessions will focus on the topics ‘Islamic Finance in the CIS’ and ‘Leveraging the CIS Opportunity’. The CIS GBF 2016 is part of a series of global forums for businesses launched by Dubai Chamber to bring together leading players from various governments and institutions in order to support the development efforts, and explore new investment opportunities in emerging markets around the world. So far, Dubai Chamber has organised three editions of the Africa Global Business Forum, with the most recent one held in November last year.
High-profile dignitaries ■■ Bakir Izetbegović, Bosniak Member, Presidency of Bosnia and Herzegovina ■■ CY Leung, Chief Executive of the Hong Kong Special Administrative Region
Key speakers ■■ H.E. Eng. Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy ■■ H.E. Jamal Majid Bin Thaniah, Vice Chairman, DP World, UAE ■■ Arif Amiri, Chief Executive Officer of Dubai International Financial Centre Authority, UAE ■■ H.E. Ahmad Belhoul, Minister of State for Higher Education Affairs, UAE
Eminent speakers ■■ Prasad Abraham, Chief Executive Officer, Al Hilal Bank, Kazakhstan ■■ Khaled Mohammed Al-Aboodi, Chief Executive Officer of Islamic Corporation for the Development of the Private Sector at Islamic Development Bank, Saudi Arabia ■■ Ghaith Al Ghaith, Chief Executive Officer, flydubai, UAE ■■ Christopher Hopkinson, First Deputy Chairman, Kazmunaygas, Kazakhstan ■■ Aidan Karibzhanov, General Director, Visor Holding, Kazakhstan ■■ Mammad Karimov, Founder, Khazar Ventures, Azerbaijan ■■ Gerald Lawless, Head of Tourism and Hospitality, Dubai Holding, UAE ■■ Barbara Meynert, Chair of Digital Economy Task Force, UN ESCAP, Thailand ■■ Jean-Marc Peterschmitt, Managing Director for Countries of Operations and Chief Operating Officer for Banking, European Bank for Reconstruction and Development, United Kingdom ■■ Samson Pkhakadze, President, Wissol Group, Georgia ■■ Borisbiy Zhangurazov, Executive Chairman, Kaznex Invest, Kazakhstan ■■ Taleh Ziyadov, Director-General, Baku International Sea Trade Port, Azerbaijan ■■ Kamran Siddiqi, Group Executive CEMEA, Visa, UAE
Wednesday, February 17
09.00 Welcome Address H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce & Industry
Dubai to Moscow and the newly founded Eurasian Economic Union – linking a group of markets with around 350 million people. What will it take to turn this into a key economic corridor over the next decade?
09.10 Opening Keynote Address H.E. Eng. Suhail Mohamed Faraj Al Mazrouei, Minister of Energy, UAE
• H.E. Jamal Majid Bin Thaniah, Vice Chairman, DP World, UAE
09.30 Changing Synergies — The Reorientation of CIS Business The CIS is more a concept than a reality, as the markets of the former Soviet Union forge new economic alliances and build trading links to neighbouring regions and beyond – from the Eurasian Economic Union to the Silk Road. In this session we will explore the contours of these changing synergies. What are the mutual benefits that come from the emerging CISGCC relationship? What are the obstacles and risks? • Ruslan Alikhanov, President, Argo Investment Company, Russia • Jean-Marc Peterschmitt, Managing Director for Countries of Operations and COO for Banking, EBRD, UK Moderator: Nik Gowing, International Broadcaster
Moderator: Andrea Catherwood, International Broadcaster
11.00
Networking Break
11.30 Boosting Foreign Investment – Understanding the Opportunities Both Kazakhstan and Azerbaijan are looking at new ways to attract investors and boost revenues as the oil price falls. Rakhim Oshakbayev Vice Minister of Investments and Development, Kazakhstan and Dr Sahil Babayev, Deputy Minister of Economy, Azerbaijan, discuss their strategies and explore the opportunities for potential investors. • Dr Sahil Babayev, Deputy Minister of Economy and Industry, Azerbaijan • Rakhim Oshakbayev, Vice Minister for Investments and Development, Kazakhstan
culture, but a new generation of companies is emerging, leveraging knowledge of local markets and building on regional aspirations. This session will discuss the potential of the emerging private sector with some of the region’s leading entrepreneurs and investors.
Road is at the centre of Eurasian business is digital connectivity. Barbara Meynert, an expert on the digital economy in Asia, looks at how a smart Silk Road might impact the region and Nurlan Kussainov discusses his strategy to put digital technology at the heart of Astana’s new financial hub.
• Aidan Karibzhanov, General Director, Visor Holding, Kazakhstan • Mammad Karimov, Founder, Khazar Ventures, Azerbaijan • Samson Pkhakadze, President, Wissol Group, Georgia
• Barbara Meynert, Chair of Digital Economy Task Force, UN ESCAP, Thailand • Nurlan Kussainov, Chief Executive Officer, Astana International Financial Center Authority, Kazakhstan
Moderator: Chris Weafer, Founding Partner, Macro Advisory
Moderator: Andrea Catherwood, International Broadcaster
12.45
Networking Lunch
14.00 Future Energy – After the Oil Age The oil-rich countries of the CIS and the Gulf are trying to understand the future of hydrocarbons in a world of low prices and increasing pressure on carbon emissions. At the same time, they are exploring the potential of developing alternative energy sources. What must the oil states do to retain their position as energy hubs? • Christopher Hopkinson, First Deputy Chairman, Kazmunaygas, Kazakhstan • Steven Geiger, President , Innova Partners, USA
15.15 Diversification in Action – Creating an International Financial Hub Kazakhstan intends to turn its Expo 2017 site in Astana into an international financial centre, along the lines of Dubai’s DIFC and plans are already turning into action. DIFC’s Arif Amiri discusses his experiences and strategy with Kairat Kelimbetov, the newly appointed Governor of Astana International Financial Center. • H.E. Kairat Kelimbetov, Governor, Astana International Financial Center, Kazakhstan • Arif Amiri, Chief Executive Officer, DIFC Authority, UAE Moderator: Nik Gowing, International Broadcaster
Moderator: Chris Weafer, Founding Partner, Macro Advisory 10.30 KEYNOTE DISCUSSION New Opportunities — Developing the North-South Transport Corridor There is enormous potential for the Gulf region in developing the trading and investment routes that run North-South from the Silk Road. These would link
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Moderator: Nik Gowing, International Broadcaster
12.00 Emerging Multinationals – Who, What and Where Next? The CIS has struggled to create an entrepreneurial
14.45 Leveraging Technology: The Digital Silk Road While most of the focus is on railways and maritime routes, a key dimension of ensuring that the Silk
16.00
End of Day One and Networking Reception
19.00
Gala Dinner
Thursday, February 18
09.00 Yesterday and Today – In Brief We will get the morning going with a lively summary of memorable points from the first day’s sessions – and an overview of the second day.
position themselves as hubs for Central Asia with impressive infrastructure and high profile architectural projects. This session will discuss the challenges of diversification and look at the lessons from Dubai in building up new industries.
• Chris Weafer, Founding Partner, Macro Advisory
• H.E. Hamad Buamim, President and CEO, Dubai Chamber, UAE • Ghaith Al Ghaith, Chief Executive Officer, flydubai, UAE • Gerald Lawless, Head of Tourism and Hospitality, Dubai Holding, UAE
09.10 A New Era of Globalisation - The Impact of the Silk Road The Silk Road, linking China and Europe via Central Asia and the Arabian Gulf, could be the start of a new phase of globalisation. What opportunities does this open up for businesses operating along these routes? • Kanat Alpysbayev, Vice President for Logistics, Kazakhstan Railways, Kazakhstan • Dr Yu Jianlong, Secretary General, China Chamber of International Commerce, China • Taleh Ziyadov, Director-General, Baku International Sea Trade Port, Azerbaijan Moderator: Andrea Catherwood, International Broadcaster
10.00 Diversification Dividends – Overcoming Challenges and Reaping Rewards The region’s oil economies are all trying to diversify away from dependence on natural resources. Both Astana and Baku are working with Dubai to
Moderator: John Defterios, Emerging Markets Editor, CNN
11.00
Networking Break
11.30 Funding the Future – Islamic Finance in the CIS The CIS region is home to large Muslim communities and relatively low penetration of financial services. Islamic finance has started to emerge as an option in Kazakhstan, Kyrgyzstan, Turkmenistan and Azerbaijan, with players from Dubai taking a leading role in introducing Shariah-compliant products and services. Governments, too, are gradually rolling out laws, regulations and standards for the sector. What is needed to make Islamic finance a viable alternative? How can the region implement policies to deepen the pool of available Shariah-compliant capital?
• Prasad Abraham, Chief Executive Officer, Al Hilal Bank, Kazakhstan • Behnam Gurbanzada, Chief Executive Officer, B.EST Solutions, Islamic Financing Consultant and Member, CIS Islamic Banking Advisory Council, Azerbaijan • Nida Raza, Director of Advisory Services, Islamic Corporation for the Development of the Private Sector, Islamic Development Bank, Saudi Arabia
15.00 EXPERT INSIGHT: Transforming Global Value Chains The automotive and electronics industries are already using the Silk Road’s new rail links to speed their route to market. HP’s Stu Pann, one of the world’s leading supply chain experts, shares his insights into the future of global value chains as these ancient routes create new synergies.
Moderator: Eithne Treanor, Managing Director, E Treanor Media
• Stuart Pann, Chief Supply Chain Officer, HP, USA
12.30
Networking Lunch
14.00 Finding New Roads - Leveraging the CIS Opportunity Russia is an enormous market for many global companies — by far the largest in the CIS region. But its rapid slowdown has pushed companies to look harder at other markets in the CIS to sustain overall business performance in the region. In this session, regional directors discuss how they are tackling the challenges and expanding in this varied region. • Kamran Siddiqi, Group Executive CEMEA, Visa, UAE • Andrey Filatov, General Manager, Russia and CIS, IBM, Russia Moderator: Chris Weafer, Founding Partner, Macro Advisory
15.30 Key Findings Summing up the inaugural CIS Global Business Forum • Andrea Catherwood, International Broadcaster
15.40 End of CIS GBF 2016