Newsletter - 1st edition, 2010

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New members of the Chamber

COMMERZBANK AG

Boulevard Louis Schmidt 29 – B-1040 BRUSSELS
Tel.: 32-2 743 18 24 - Fax : 32-2 743 19 33
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.commerzbank.be
Contact : Mr. Jacques NYSSEN , Senior Vice President
Activities : Banking.

DELOITTE S.A.

Rue de Neudorf 560 – L-2220 LUXEMBURG
Tel. : 352 45 14 51 – Fax : 352 451 452 747
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.deloitte.lu
Contact : Mr. Raymond KRAWCZYKOWSKI, Partner
Activities : Areas audit, tax, consulting & financial advisory services.

HEALTHCARE BELGIUM ASBL

Rue des Sols 8 – B-1000 BRUSSELS
Tel.: 32-2 515 09 38 – Fax : 32-2 515 09 39
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.healthcarebelgium.com
Contact : Mr. Herwig FLEERACKERS, General Manager
Activities : Provide information on Belgian medical services to foreign patients and healthcare providers in an ethical and coordinated way and ensure that patients can rely on high-quality services at a fair price and that they are taken care of in a professional manner from the moment of their first contact until they return home.

ISA (INTERNATIONAL SHIPPING AGENCIES)

Rijnpoortvest 4, Bus 4 – B-2000 ANTWERP
Tel.: 32-3 222 15 55 – Fax : 32-3 222 15 99
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.isagencies.com
Contact : Mr. Amara Rafik BELHADJ, Managing Director
Activities : Shipping agent for the Algerian Company with a regular line between North Europe and North Africa (Algeria).

JAN DE NUL N.V.

Tragel 60 – B-9308 HOFSTADE - AALST
Tel. : 32-53 73 17 11 – Fax : 32-53 77 28 55
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet : www.jandenul.com
Contact : Mr. Wim DHONT, Area Manager
Activities : Dredging and land reclamation, services for offshore oil & gas projects, civil engineering projects, environmental projects.

KARSAM EUROPE SA

Rue Bollinckx 13 – B-1070 BRUSSELS
Tel.: 32-2 524 00 65 – Fax: 32-2 524 23 23
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it. Internet :www.karsam.com
Contact : Mr. Elias Sami KARAM, Administrator
Activities : Export, technical textiles, projects, consultancy, factory agent, hotel agency.

OSMOTEAM

Chemin du Cyclotron 6 – B-1348 LOUVAIN-LA-NEUVE
Tel. : 32-473 74 61 97
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.osmoteam.net
Contact : Noëlle Paré
Activities : HR and management consultancy.

PORT OF GHENT

John Kennedylaan 32 – B-9042 GHENT
Tel. : 32-9 251 05 50 – Fax : 32-9 251 54 06
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.portofghent.be
Contact : Mr. Dirk BECQUART, Commercial Director
Activities : Port.

SAMYN AND PARTNERS

Chaussée de Waterloo 1537 – B-1180 BRUSSELS
Tel.: 32-497 18 98 06 – Fax : 32-2 374 75 50
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.samynandpartners.be
Contact : Mr. Josse WAYEMBERGH, Manager International Affaires
Activities : Architecture, engineering, landscape, interior design and master planning.

TIMMER CRANES AND STEELWORKS N.V.

Europark 1002 – B-3530 HOUTHALEN-HELCHTEREN
Tel.: 32-11 60 93 60 – Fax : 32-11 60 93 70
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.timmer.be
Contact : Mr. Bert ZIMMERMANN, General Manager
Activities : Supply of industrial cranes, steelworks and industrial buildings for clients through the complete range of industries.

UZ BRUSSEL

Laarbeeklaan 101 – B-1090 BRUSSELS
Tel. : 32-2 477 55 01 – Fax : 32-2 477 55 15
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.Internet :www.uzbrussel.be
Contact : Prof. Dr. Marc NOPPEN, CEO
Activities : High-end clinical & research activities (Fertility Clinic, Diabetes Clinic, Oncology Clinic,....).

VOLYS STAR

Oudstrijderslaan 11 – B-8860 Lendelede
Tel. : 32-51- 33 50 20 – Fax : 32-51 31 37 28
Email : This email address is being protected from spambots. You need JavaScript enabled to view it. Internet : www.volysstar.be
Contact : Mr. Koen de Praetere, General Manager
Activities : Processing poultry specialities : chilled, frozen. Poultry products : charcuterie, culinary, breaded products… The company is a pioneer in poultry-only meat processing and certified Halal slaughtering.

News from our members

BESIX Group – 2010 : “Forward to a New Era”

sponsors_besix.jpgSince the beginning of this year and notwithstanding the international crisis, BESIX Group once more has most promising prospects, as several important contracts were signed, especially in the Gulf region, representing a total value of 1.2 billion euros. In the UAE capital, the group signed its largest contract ever for the construction of the “Cleveland Clinic” in Abu Dhabi.

The Cleveland Clinic contract represents a value of 940 million euros and was signed between Mubadala Healthcare and an association formed by Six Construct and Samsung. Six Construct, a subsidiary of Besix operating in the Middle East for over 40 years, has a share of 6% in the contract which is scheduled to be completed by the fourth quarter of 2012. Cleveland Clinic will provide state-of-the-art facilities and services and will be the regional leader of the hospital sector. The turnkey project of 400,000 m² includes 375 chambers and all associated administrative areas.

Besix furthermore is to build a 912m long bridge linking Abu Dhabi with the mainland. The Sheikh Zayed Bridge will have a central span of 234 meter and the contract amounts to $65 million. Last but not least, the group also signed a $162 million contract to construct the new Abu Dhabi National oil company (ADNOC) headquarters.

DO NOT HESITATE and mail your company news to This email address is being protected from spambots. You need JavaScript enabled to view it. to be included free of charge in this newsletter.


{mospagebreak title=Focus on UAE}

FOCUS ON THE UNITED ARAB EMIRATES

Meeting HH Sheikha Lubna Al Qasimi, Minister of Foreign Trade of the UAE
March 25th, 2010

The Chamber had the pleasure to welcome on March 25th, 2010, HH Sheikha Lubna Al Qasimi, Minister of Foreign Trade of the United Arab Emirates. More than 100 officials and company representatives assisted the seminar organised by the Chamber during which Sheikha Lubna detailed the business and investment opportunities in the UAE.

Ever since becoming responsible for foreign trade relations, Sheikha Lubna has travelled the world to explore trade and investment opportunities and to reinforce the UAE trade exchanges abroad. Foreign trade relations are today a key element for growth and economic development and recent data point at a most successful experience in the United Arab Emirates. The total foreign trade volume of the Emirates indeed grew by 86% during the period 2005-2009 and the value of exports even increased by 9% in 2009, a particular difficult year due to the global crisis.

Diversification and sustainability are now the key elements of the UAE economic policies and reflect the emergence of a most competitive and dynamic market, growing at 7.4% last year amidst the worldwide economic turmoil. The Minister stressed the numerous business and investment incentives offered by the UAE such as the world-class free zones, repatriation of capital and profits, easy access to raw materials and energy sources and zero corporate profit and personal income taxes. Further improvements to the country’s commercial and company laws are underway and will provide the economic partners with the best environment for doing business.

Sheikha Lubna noted that the UAE account for 460 billion euro of the Gulf’s more than 940 billion euro worth civil building projects currently underway and she underlined that many other non-oil businesses remain to be explored. The Minister more particularly referred to the rapidly growing transportation sector, in which the Emirates plan to spend as much as 5.68 billion euro to build a country-wide network of railways extending almost 1,400 kilometer by 2016.

Sheikha Lubna furthermore called for energising the global trade and to consider Islamic banking as an opportunity to boost growth and to ensure more stability within the world’s financial markets.

The Minister also lauded the significant level of trade exchanges between Belgium and the Emirates and referred to the cooperation agreement on the mutual exploration of economic, scientific, industrial, mining, agricultural, investment and technological opportunities. Belgian exports to the UAE increased by 12.1% in 2008 to reach 1.9 billion euros, while imports rose the same year by 3.6% to 1.46 billion euros. There was, however, a drop in exchanges in 2009, with Belgian imports decreasing by 36% to 924 million euros and exports narrowing by almost 23% to 1.4 billion euros. “We look forward to sustaining our strong trade in pearls, precious stones and metals, machinery, chemical products, plastics and textiles,” she added. The visit of Sheikha Lubna provided an excellent opportunity to contribute to the reinforcement of the cooperation and partnership with the UAE.

At the end of the seminar, Etihad Airways, the national carrier of the UAE, awarded free tickets to Abu Dhabi to two participants in a move to further increase the awareness of the attractiveness of its services and destination.
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New IMF Country Report on the United Arab Emirates

The International Monetary Fund published in February its new Country Report on the Untied Arab Emirates. The IMF hails the country’s excellent infrastructure, business environment and commercial dynamism which are a solid basis for future growth. The report underlines the successful economic development of the country and its role as a major engine for regional growth.

The fiscal position of the country achieved a virtual balance in 2009, following a surplus of 21% in 2008, as both oil and non-oil revenues decreased due to the declie in oil prices and the slowdown in economic activity. Total government spending also increased by an estimated 14% and the nonhydrocarbon deficit increased by about 7% to 34% of the non-oil GDP due to higher spending by the Abu Dhabi government

The external current account balance is estimated to be in the red (2.7% of GDP in 2009), the first deficit registered in decades. As a result of production cuts and lower prices, hydrocarbon export revenues indeed dropped by about 45% in 2009, although imports decreased also by some 22%.

The UAE financial system entered the global crisis exposed to a highly leveraged economy. Commercial banks expanded credit considerably during 2004-08, generating some $100 billion of credit above the underlying trend growth and credit growth was the fastest among emerging markets.

The UAE has a net external creditor position well in excess of 100% of GDP, among the largest in the International Monetary Fund membership. The position is mainly with Abu Dhabi, but several of Dubai’s government-related entities also have accumulated substantial assets abroad. The Emirates’ 2009 International Investment Position (IIP) stands at $437 billion in assets and $132 billion in liabilities, resulting in a net positive position of $305 billion or 132% of the country’s gross domestic product. This is substantially more than the figures provided for Norway ($238 billion, 52% of GDP), Singapore ($192 billion, 105%), and Bahrain ($15 billion, 83%).

At $250,000, the UAE’s net assets per national are also remarkably better than the comparative set, with Norway standing at $50,000 per national, Singapore at $40,000 and Bahrain at $30,000.

Future prospects

The IMF believes the Emirates will continue to benefit from its large external credit position, the country’s excellent infrastructure and business environment and its strategic geographic location between Europe and Asia.

Yet, the IMF believes the UAE will have to confront a further deceleration in non-oil growth in 2010, followed by a gradual recovery.

Economic activity in Dubai in 2010 will depend on global demand, recovery of the property market (real estate accounts for 25% of Dubai’s GDP) and debt restructuring of the Government Related Enterprises. Given the share of the emirate in the total non-oil GDP of the UAE (above 50%), real GDP growth for the federation as a while will be about 0.5% only.

Growth is expected to recover in 2011 owing to higher activity in the oil and trade sectors and the restructuring programmes in Dubai. Medium-term nonhydrocarbon growth is thus projected to average about 4.5%.

The growth of the UAE will most probably require access to long-term capital to improve infrastructure and to implement the country’s mega-projects. The domestic market is unlikely to be sufficient and foreign borrowing is likely needed to fill the gap. The authorities are therefore working to develop the local debt markets and to develop a treasury securities market to help finance government development projects.

Belgian imports from the United Arab Emirates
(1,000 euros)

2007
2008
2009
 TOTAL 1,404,490 1,459,362 924,904
 of which      
 14 Pearls, precious stones and metals 1,189,156 1,283,766 781,235
 11 Textiles and textile articles 41,600 39,982 33,455
 07 Plastic materials, rubber 16,804 18,193    25,250
 05 Mineral products    73,491    44,773 24,923
 13 Articles : stone, cement, glass 23,872 18,996 15,505
 16 Machinery, electrical equipment 15,574    17,372 13,721

Belgian exports to the United Arab Emirates
(1,000 euros)

2007
2008
2009
 TOTAL 1,693,769 1,873,144 1,443,554
 of which      
 14 Pearls, precious stones and metals 756,601 739,644 523,087
 16 Machinery, electrical equipment 331,903 454,942 275,708
 06 Products of chemical industries 139,007 150,382  157,401
 15 Base metals and articles 159,984  154,460 109,937
 17 Transport equipment    50,200 76,941 96,914
{mospagebreak title=Strategic sponsor Deloitte}

Strategic sponsor of the ABLCC : DELOITTE

A bit of history:

William Welch Deloitte opened his accountancy office in London in 1845 and soon afterwards made his reputation through his work in the railroad industry – the Web of its day. He indeed developed the system for keeping railway accounts, subsequently adopted as the industry standard, protecting investors from mismanagement of funds. He also developed a system of account-keeping for hotels that was universally adopted by large hotels in Great Britain and overseas. In 1880, the first Deloitte overseas office opened in New York and branches were subsequently established all over the United States and in Canada.

The most successful expansion of the company throughout the 19th century benefited from various partnerships and mergers and continued during the 20th century, leading to the formation of group providing services in most countries of the world. The affiliation of a Japanese partner in 1952 proved to be another important strategic decision which helped building an organisation offering a wide range of multidisciplinary services. 

deloitte_logo.jpg

Deloitte Worldwide:

Today, « Deloitte » is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management and tax services to selected clients. These firms are member of Deloitte Touche Tohmatsu (DTT) and provide services in a particular geographic area. DTT helps coordinate the activities of the member firms which are separate and distinct legal entities and are structured in accordance with national laws and regulations.

DTT and its member firms are committed to the highest levels of ethics, integrity and quality. This is evidenced by the member firms’ business practices and client service standards, their leadership behaviour and shared values and by the quality of the people they employ. The vision and strategy of DTT and its member firms focuses on Deloitte becoming the standard of excellence in all of the businesses and services the member firms provide.

Deloitte Luxembourg:

With around 1,100 professional staff, Deloitte is one of Luxemburg’s largest, strongest and oldest professional services firms. Its multidisciplinary teams focus on clients operating in various industries and provide quality services in the fields of audit, accountancy, tax, financial advisory and consulting.

Deloitte in Luxemburg recorded a 13.5% increase in its revenues up to €143.9 million for the 2008-09 fiscal year. This represents the fifth consecutive year of double-digit growth for the firm. The advisory and consulting service line, the largest in the market with some 250 staff, grew by 18.4% while the audit department grew by 19% and the tax department stabilised its business despite a difficult environment for international transactions.

The activities of Deloitte in Luxemburg also focus on Middle Eastern investors wishing to invest outside their region, and foreign investors looking to develop business in the Middle East through the Luxembourg holding and investment funds platform. Deloitte Luxembourg also focuses on the Islamic Finance market. Deloitte Luxembourg indeed participates in various industry working groups to reinforce the relations with the Middle Eastern market and has in-house experts familiar with the Islamic finance principles. Deloitte thus offers accounting, consultancy and compliance services to Luxemburg Islamic finance investment vehicles and tax advice on Islamic finance products and Sharia’a investment funds. Its role has become essential to structure Sharia’a compliant products in the most tax efficient way.

For in-depth Sharia’a advice, we can rely on Deloitte’s Islamic Finance Knowledge Center located in Bahrain, and the unique position of Deloitte as the only Big 4 having a Sharia’a Scholar within our network: Mufti Hassaan Kaleem, a pupil of the industry renowned sheikh Mohammed Taqi Usmani.

Deloitte SA

560, rue de Neudorf
L-2220 Luxemburg
Tel. +352 451 452 513
Fax +352 621 506 508
Internet : www.deloitte.lu

Contacts :

Raymond Krawczykowski

Partner, TAX-International / M&A
Phone: +352 451452 500
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

David Capocci

Partner - TAX-International / M&A
Phone: +352 451 452 437
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Alain Verbeken

Directeur - TAX-International / GFSI
Phone: +352 451 452 513
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Ashraf Ammar

Manager - TAX-International / GFSI
Phone: +352 451 452 058
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

{mospagebreak title=Conferences, Fairs and Exhibitions}

Conferences, Fairs & Exhibitions

JIMEX 2010

The 7th International Machinery & Electricity Exhibition targeting the markets of the Middle East, will be held from June 6th-9th, 2010 in the Halls of Amman International Motor Show Center, Jordan. JIMEX focuses a wide range of new products and innovative technologies in the field of industrial and construction machinery, electricity, automation, energy, tools and industrial supplies.

More information :
Golden Gate for Organisation of Exhibitions, tel. +962 6 565.85.01 – fax +962 6 565.00.85 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.jordan-fairs.com

Syrmotorshow

The 10th Syrian International Motor Show, is scheduled from July 1st-7th, 2010 at the Damascus International Fairground. The show has established itself as one of the leading automotive related exhibitions addressing the diversified needs of exhibitors and visitors alike.

More information :
Projex, PO Box 60666 Damascus, tel. +963 11 231.71.14 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it.

The 1st International Conference for Development and Real Estate Investment

The 1st International Conference for Development and Real Estate Investment is scheduled in Damascus, Syria, from July 20th-21st, 2010. The Conference will provide the opportunity to review the legal and institutional reforms in Syria and to discuss the various issues related to the development of real estate investment in the country.

More information :
Business & Development For Conferences & Exhibitions, tel. +963 11 444.60.11 – fax +963 11 444.99.60 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.bizdev-sv.com

International Fair of Damascus

The 57th edition of the International Fair of Damascus will take place from July 14th-23rd, 2010 at the Damascus Fairground. The fair is one of the popular exhibitions in Syria and has achieved international reputation for its economic and commercial significance.

Damascus International Fair serves several functions. Its main aim is to highlight the socio-economic development of Syria and to promote the country’s commercial relations with foreign countries.

More information available at the Chamber.

Inter-Build Jordan Fair 2010

The 3rd Fair & Conference for Building Industry, Architecture, Decoration and Mechanical Installation Techniques will be held from September 27th-30th, 2010 at Halls of Zara Expo in Amman, Jordan. The fair is considered as a comprehensive engineering and trading event covering the major engineering sectors related to infrastructure and construction.

The previous edition attracted more than 100 participants, almost half of which were foreign companies.

More information :
Golden Gate, Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.jordan-fairs.com

SAUDI BUILD 201

The 22nd International Construction Technology fair, will be held from October 18th-21st, 2010 in Riyadh, Saudi Arabia. This most important fair in a country which represents 25% of the value of the construction industry in the Gulf region, attracted 750 participants and almost 20,000 visitors in 2009. The Walloon Region is organising a collective representation at the Fair.

More information available at the Chamber.

JORTEX

The 1st Jordanian Textile and Garment Forum & Exhibition, will be held at the King Hussein bin Talal Convention Center at the Dead Sea from December 6th-9th, 2010. Jordan aims to develop a booming textile and garment industry and the JORTEX event will bring together textile and garment buyers from the European Union and other international participants, including leading exporters from the Agadir Agreement Member States.

More information available at the Chamber and from www.jortex.org
{mospagebreak title=Business Proposals}

Business Proposals

Al-Arabiya for Industry and Trading,

based in the Amriya Free Zone in Alexandria, Egypt, exports diesel generators and diesel engines, alternators, welding machines and air compressors.

Contact :

tel. +20 3 449.59.93 – fax +20 3 454.24.01 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it.

Foreign Trade Association,

29, Huda Sharawi street, PO Box 1729, Cairo, Egypt, os looking for contacts with a foreign partner holding advanced technology in the field of construction, marine services, maintenance and subsea/deepwater activities.

Contact :

Tel. +202 239.36.100 – fax +202 239.36.107 – Email This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.ftaegypt.com

Global Technical Services,

a system integrator and solution provider based in Cairo, Egypt, is offering its seervices in the field of engineering, professional training, industrial services and transger of technology in the field of the utilities sector.

Contact :

GTS, PO Box 1184, Maadi, tel. +202 270.55.222 – fax +202 270.55.444- Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.globalts.eg.com

Khalifa Shaheen Digital Images – KSDi,

is a leading media company in the Kingdom of Bahrain and an expert in video production and digital photography. The company offers complete high-end international standard digital image solutions.

Contact :

KSDi, PO Box 31425, Manama, tel. +973 17 59.39.93 – fax +973 17 59.39.92 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.ksdibahrain.com

Makinat Abouseif Cy.,

a leading group in Egypt with branches in the UAE and Morocco, is interested to meet companies looking to establish a factory in Egypt.

More information available at the Chamber.

Projectus Group,

PO Box 34048, Damascus, Syria, is looking for collaboration in the field of construction of large-scale projects and the creation of joint ventures for the realisation of local investments projects. Activities range from pharmaceuticals, housing projects, mining, agro-industries, transport to power generation and livestock development.

Contact :

tel. +963 11 231.62.94 – fax +963 44 231 48.76 – Email : This email address is being protected from spambots. You need JavaScript enabled to view it. – Internet : www.projectus-group.com

Our Partners

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