The MEB's trade mission to the United Arab Emirates surpasses the organisers' expectations

The Monaco Economic Board undertook a trade mission to Abu Dhabi from 22 to 26 April, featuring a robust delegation of 32 participants from 25 entities within the Principality.

The aim of this visit was threefold: to discover the many opportunities presented by the Emirates, to enhance bilateral relations, and to establish valuable connections with local economic stakeholders.

After their arrival the previous evening, the Monegasque entrepreneurs were greeted the following morning by Mr. Masaood Rahma Al Masaood and Ms. Noor Al Tamimi, Board members of the Abu Dhabi Chamber of Commerce and Industry. This forum aimed to highlight both economic ecosystems, featuring presentations from the MEB and the Abu Dhabi Investment Office on essential themes like attractiveness, investment, and free zones.

The session progressed with a presentation on the geopolitical challenges facing luxury by Bruno Lavagna, culminating in a productive nearly two-hour networking opportunity between Monegasque and Emirati businesses.

In the afternoon, the delegation explored two key innovation hubs in Abu Dhabi: the Abu Dhabi Global Market, renowned as a premier international financial centre favoured by the Monegasque financial sector, and Hub71, the emirate's primary platform for tech start-ups. Sandrine Sauval, Director of Monaco Tech, attended with her startups, enabling her to perform valuable benchmarking.

The day concluded with a networking dinner alongside Emirati guests from the delegation.

The following day, the Monaco Economic Board and its members were welcomed at the Department of Economic Development for a day co-organised with the CCI France United Arab Emirates.

The agenda featured an overview of key sectors in the Emirati economy, the legal framework for foreign investors, incentive programs, testimonials from entrepreneurs, and a conference on the geopolitics of luxury, culminating in the day's highlight: a networking business lunch.

Coordinated by CCI France United Arab Emirates, this lunch cocktail at the stunning Shangri-La restaurant enabled Monegasque companies to engage in over 50 focused meetings with more than 30 Emirati entities across various sectors, including finance, insurance, consulting, yachting, logistics, hospitality, and technology.

Abundant and fruitful exchanges were enhanced by impromptu meetings supported by an ideal setting.

In the afternoon, the delegation explored the innovation ecosystem by visiting the Technology Innovation Institute and the Advanced Technology Research Council. This provided an opportunity to delve into the UAE government's supportive actions for its companies and to evaluate the effectiveness of their bold and proactive policies. The level of boldness and success is reminiscent of the Louvre Abu Dhabi, the UAE's cultural gem, which was visited the following day before their return to the Principality.

The mission concluded with clear opportunities for collaboration and a broader network for Monegasque companies. Additionally, this visit allowed for the return of potentially valuable ideas to enhance the attractiveness of the Principality.

Photo credits: Abu Dhabi Chamber of Commerce and Industry