C 46321 Iraq’s huge Potential for German Business · 2010-09-17 · C 46321 Iraq’s huge...

H.E. Dr. Hussain M. Fadhlalla Alkhateeb, Ambassador of the Republic of Iraq to Germany

continued on page 12

Iraq’s huge Potential for German Business 1

Editorial 3

Personalities 3

Federal Renewable Energy Programme: Saudi Business Delegation on Solar Industry to Germany 6

Qatar: Qatar’s Rising Role in the European LNG Market 10

Iraq: Billion Dollar effort: power plants may mushroom throughout Iraq 14

Iran: Iran and India discuss underwater pipeline 16

Iran: Iran’s stock market reaches all time high 16

Saudi Arabia Launches EUR 298 bn Five-Year Development Plan 17

UAE: UAE energy player Taqa with 160%profit rise 18

Fairs in the Middle Eastern Region 2011 18

Euler Hermes20

Kuwait: IMF: Kuwait’s forceful response„contributed to financial stability.“ 21

Nuclear Renaissance, The Gulf, Euratom,and the EU-Instrument for Nuclear Safety Cooperation 22

German Trade Figures 23

News & Projects 24

News in brief 28

Exchange rates 28

Praxishandbuch Internationale Geschäfte 28

Zolltipps Kuwait 28

Financing exports and foreign investments 29

NUMOV invites Young Diplomats 29

Business page 30

Business enquiries 30

Services for NUMOV members 31

NUMOV Services 32

Application form for membership 32

Introducing a NUMOV member: Westfracht Spezialverkehre International GmbH 33

Imprint 34

Board of NUMOV 34

No. 5 - September / October 2010C 46321 Iraq’s huge Potential for German Business

H.E. Dr. Hussain M. Fadhlalla Alkhateeb, Ambassador of the Republic of Iraq to Germany spoke with Helene Rang, CEO and Dep. Chairperson of NUMOV, German Near and Middle East Association

Contents

HR: Germany’s exports to Iraq almost doubled toEUR 582 m from 2008 to 2009. How do you eva-luate the current economic situation between thetwo countries?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb: It isvery interesting to notice the remarkable increa-se in the size of trade between Iraq andGermany after a period of absence of Germanenterprises from the Iraqi market. However, thesize of trade between our two countries is stillfar below the desired level. I was glad to notice

the interest many enterprises have shown torediscover the Iraqi market and to start by visit-ing Iraq, especially of those who have been wor-king in Iraq previously. Current Iraq is a land ofopportunities. Iraq is embarking in a vigorouseffort to rebuild the country after years of neglectand turmoil. Work is needed in all fields: infra-structure, industry, agriculture, health care, edu-cation, human resources and others. With somuch work to be done I wish to see more signi-ficant German involvement in the process ofrebuilding Iraq.

Jägerstr. 63 D, D-10117 BerlinPhone:+49 (0)30 - 206410-0Fax: +49 (0)30 - 206410-10E-mail: [email protected]: www.numov.de

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3

Editorial / Personalities

WirtschaftsForum Nah- und Mittelost 5/2010

Martin BayChairman of the BoardGerman Near and Middle East Association / Nah- und Mittelost-Verein e.V.

Distinguished readers,

Dear members of the German Near and Middle East Association,

Editorial

Hoping you enjoy our new edition with kind regards,

PersonalitiesDr. Philipp Ackermann is new at the PoliticalDirectorate General for Afghanistan and Pakistanat the Federal Foreign Office in Berlin. Before, hewas Head of the Political Division at the GermanEmbassy in Delhi.

Stephan Auer is the new Deputy Director General responsible forGlobalisation, Energy and Climate Policy at the Directorate Generalfor Economic Affairs and Sustainable Development at the FederalForeign Office in Berlin. Prior to the appointment as Deputy DirectorGeneral, Stephan Auer was EU Affairs Officer at the Embassies ofthe European Directorate General.

Christian Berger is the new Ambassador of theFederal Republic of Germany to the Republic ofIraq. In the periods of 2000 to 2004 and 2007 to2010, Christian Berger was Ambassador to Laosand Ecuador, respectively.

Bruno Brommer is the new Head of the Division for ExternalEconomic Promotion-Individual Measures at the DirectorateGeneral for Economic Affairs and Sustainable Development at theFederal Foreign Office in Berlin. Before, Bruno Brommer was Headof the branch office of the German Embassy in Sarajevo.

Olaf Glaeseker is the new Spokesman and Headof the Public Relation section of the FederalPresident of Germany. Olaf Glaeseker was gov-ernment spokesman of Lower Saxony before hisappointment.

Lothar Hagebölling has been appointed Headof the Office of the German Federal President.Before, he was State Secretary at the Ministry ofFinance of the Federal State of Lower Saxonyand in 2006 became Head of the StateChancellery of Lower Saxony.

Ullrich Harald Ernst Kinne is the new Deputy Ambassador at theGerman Embassy to the Republic of Iraq. He succeeds Klaus Streicher.

Dr. Götz Lingenthal is the newly appointed head of the GermanRepresentative Office in Ramallah. He succeeds Dr. KlausBurkhardt.

Klaus Ranner is the new German GeneralConsul in Dubai, United Arab Emirates. His suc-cessor as General Consul in Miami is Eva GräfinKendeffy. During his service at the Federal ForeignOffice he was also Head of the Economic Depart-ment at the German Embassy in Tehran, Iran.

The Board and theTeam of the

German Near andMiddle East

Association wishall members and

friendsa happy Eid al-Fitr!

This edition of the WirtschaftsForum provides you with the recent economicdevelopments and interesting insights of the German-Near and Middle East business relations as well as a brief overview on noteworthy topics dealt withyour association.

It is worthwhile mentioning a five-day visit of a Saudi business delegation toSaxony-Anhalt under the master topic of renewable energy technologies. Theteaming of the Saudi delegation members with their German counterparts hadan overwhelming response demonstrating the keen interest of the Saudi partners in German renewable energy technology specifically on a regional level.

Furthermore, NUMOV is actively supporting the great business interest on Iraq.Despite crucial security issues still prevailing the business environment in Iraqgreat efforts have been undertaken by the government to create and maintain apositive and confident business atmosphere. Undoubtedly, more and moreGerman companies actually doing business in Iraq now recognize this positivedevelopment. Also, NUMOV Board members met with the only recently appoint-ed Ambassador of Iraq to Germany, H.E. Dr. Hussain M. Fadhlalla Alkhateeb, tobetter understand the current developments in Iraq and discuss business relatedconcerns. Regarding the electricity sector you will find a latest update on the current situation and plans of the government to step up Iraq’s electricity production. This is aimed at having a positive impact on the competitiveness ofthe country’s industries.

Our Association has always been a strong supporter of strengthening diplomaticties and mutual understanding between Germany and the countries in the region.Accordingly, a visit of young diplomats from the Middle East, particularly Iraq,also provided an opportunity for exchange of ideas and simply becomingacquainted with other very interesting young people from a different cultural back-ground. The Junior members of the Near and Middle East Association were happyto receive the young diplomats who enjoyed a memorable day in Berlin and awarm welcome from our organisation.

For our members active in the region we focusing on current “hot” topics whichwill have significant implications for the further development of the region: Weare reporting on the rising importance of liquefied natural gas in the Middle Eastenergy market and the specific German interest, the introduction of nuclear poweras a diversification strategy to complement the energy portfolio of the oil-richcountries and last but not least Saudi Arabia’s ambitious five-year spending anddevelopment plan.

4 WirtschaftsForum Nah- und Mittelost 5/2010

Personalities

Jörn Rosenberg is the new Head of the Division for DevelopmentPolicy at the Directorate General for Economic Affairs and SustainableDevelopment of the Federal Foreign Office. In his previous post, JörnRosenberg was Head of the Division for International Transport andTourism Policy at the Directorate General for Economic Affairs andSustainable Development at the Federal Foreign Office.

Claudia Schmitz has been appointed Head of Division of Protocol atthe Foreign Office in Berlin. Before, Claudia Schmitz was Head of theEconomic Department at the German Embassy in Seoul.

Albrecht von Wittke is the new Deputy Head of the Division for ExportControls at the Directorate General for Economic Affairs and SustainableDevelopment at the Federal Foreign Office in Berlin. Before his appoint-ment, Albrecht von Wittke was Deputy Head of the PermanentRepresentation of the Federal Republic of Germany at theDisarmament Conference in Geneva.

Michael Glos FederalMinister (ret.) and Member ofthe German Federal Parlia-ment, is a new Member ofthe Board of NUMOV.Michael Glos was a memberof the executive committee ofthe CSU from 1993 until2009. He was chairman ofthe task force ‘Finances’ andSpokesman of the CDU/CSUFederal Parliamentary Frac-

tion for financial and fiscal policy from 1987 until 1990. From 1993to 2005, Michael Glos was chairman of the CSU NationalCommittee of the German Federal Parliament and the first DeputyChairman of the CDU/CSU Federal Parliamentary Fraction. InNovember 2005, Michael Glos was promoted Federal Minister forEconomics and Technology, a position he held until February 2009.

Michael Ludwig, BoardMember, Gas Procurementof Verbundnetz Gas AG, is anew member of the Board ofNUMOV. He joined the VNG– Verbundnetz Gas Aktien-gesellschaft Leipzig in 1993and became holder of theofficial power of attorney toact on behalf of the compa-ny in 1998, a position heretained until 2009. From2008 to 2009, Michael Ludwig was Director of StrategicCoordination, Storage, Logistics Service and IT Coordination aswell as Technical Managing Director of Erdgasversorgungs-gesellschaft Thüringen-Sachsen mbH, Erfurt. He became aMember of the Executive Board of VNG Leipzig, in November2009.

Personalitiescontinued from page 3

H.E. Adel bin MuhammadFakieh is the newly desig-nated Labour Minister ofSaudi Arabia. Prior to hisappointment he was themayor of Jeddah. He holdsa bachelor degree in indus-trial engineering. Earlier heserved as Chairman ofJCCI, Chairman of BankAljazira, Member of theBoard of Directors of the

Hail Development Authority and member of the RoyalCommission for Jubail and Yanbu.

Ursula Müller is the newDeputy Director Generalresponsible for ExternalEconomic Promotion andDevelopment Policy at theDirectorate General forEconomic Affairs andSustainable Developmentat the Federal ForeignOffice in Berlin. Before,Ursula Müller held thePosition of Special Envoyof the Economic and Financial Crisis Task Force at the FederalForeign Office.

H.E. Adel bin Muhammad Fakieh

Salah H. Abdel-Shafi, Ambassador at the Palestinian Ministry of Foreign Affairs, is thenew Palestinian General Delegate and PLO Representative to Germany. He formerly heldthe same post to the Kingdom of Sweden. Salah H. Abdel-Shafi earned his Bachelor andMaster Degrees in economics from the University of Economic Sciences in Berlin in 1985an 1986. Before joining the Palestinian Ministry of Foreign Affairs in 2006, Salah H. Abdel-Shafi was senior partner and consultant of the Emerge Consulting Group. Between 2002and 2005, Salah H. Abdel-Shafi was Director General of the Gaza Community Mental HealthProgram (GCMHP). From 1999 to 2001 he was Deputy Director General of the PalestinianTrade Centre and continuing his academic education in 2001, he earned a Certificate inLeadership & Governance form the John F. Kennedy School of Governance, HarvardUniversity. Salah H. Abdel-Shafi joined the Development Resources Centre as DirectorGeneral in 1996 and was director of the Gaza office of the Economic Development Group

(EDG) from 1990 to 1994. From 1988 until 1990, he was at the University of Economic Sciences at Karlshorst, Berlin.

Michael Glos Michael Ludwig

Salah H. Abdel-Shafi

Ursula Müller


Saudi Business Delegation on Solar Industry to Germany

Federal Renewable Energy Programme: Saudi Business Delegation on Solar Industry to Germany

by Christoph Karge and Sebastian Sons

From August 2nd – 6th

2010, a high-rankingbusiness delegation fromthe Kingdom of Saudi Arabiavisited the German federalstates Saxony and Saxony-Anhalt in the framework ofthe Renewable EnergiesExport Initiative on behalf ofthe German Federal Ministryof Economics and Techno-logy, organised by theGerman Near and MiddleEast Association / NUMOV.Entrepreneurs and govern-ment representatives from Saudi Arabiaparticipated in the business delegation.

Starting with the visit of the SolarPark“Waldpolenz” in Brandis near Leipzig,one of the biggest solar parks inGermany, the business delegationgained important information about theregional provision with solar power and

the share of solar power distributed intothe local grid in Saxony. Mrs. SylviaHamm from SolarPark Brandis empha-sised the growing importance of solarenergy use in Germany in the last yearsand pointed at the 6,200 GWh increaseof electricity supply in the year 2009compared to nearly 1,300 GWh in 2005.Additionally, she focused on theimmense increase of job opportunities inthe solar industry. Thus, the number ofjobs grew from 25,100 in 2004 up tonearly 80,000 in 2009. After that interest-ing presentation a very fruitful discussionemerged in which the Saudi delegationmembers showed an extensive interestin the industrial possibilities and techni-

cal challenges for implementing solarindustry in Saudi Arabia with a sustain-able effect.

On Tuesday, 3rd August 2010, the con-ference on Solar Industry in SaudiArabia took place in at the StateChancellory of the federal state ofSaxony-Anhalt in Magdeburg. The Saudi

delegation members metmore than 100 German busi-ness people. The conferencedelegates were warmly wel-comed by H.E. Dr. ReinerHaselhoff, the FederalMinister of Economic Affairesand Employment of Saxony-Anhalt, who used the oppor-tunity to emphasise Saxony-Anhalt’s position as “theFederal State of Solar

Industry”. He explained that the branchis expected to grow 20 to 30% in 2010in Saxony-Anhalt, being also the homeof the “Solar Valley” in Thalheim in whichnumerous photovoltaic technology com-panies are located.

After the German Minister’s welcomeaddress, H.E. Saleh H. Al Turki fromthe Ministry of Finance of the Kingdomof Saudi Arabia referred in his greetingwords to the Saudi-German exportagreement dating back to 1996 whichhad been the starting point for the “verygood bilateral relations.” He concludedhis speech by pointing out that theSaudi oil will not last forever – conse-

quently, Saudi-Arabia is“looking for the sun” and forGermany’s world leadingtechnology to make use ofthe solar energy.

Dr. Jürgen Sander,Managing Director of VEMmotors GmbH and Memberof the Board of NUMOV,thanked the Saudi delega-tion, especially H.E. Al Turki,for their attendance. Withregard to the futureprospects of renewable

energy in Saudi Arabia he expected thatthe field will become “a booming busi-ness.” This “boom” has already becamereality in Saxony-Anhalt, stated DorritKoebcke-Friedrich, Senior ManagerRenewable Energy for the Investmentand Marketing Corporation Saxony-Anhalt, due to the fact that 12,000 per-sons are employed in Saxony-Anhalt’sgreen energy industry, 16% of theworld’s photovoltaic devices productionis currently resident in this very regionand nearly 40% of the energy demand issatisfied by ‘renewables.’

Annika Strate, Coordination OfficeRenewable Energy Export Initiativebelonging to the German FederalMinistry of Economics and Technology,who also moderated the discussionbetween the panel members and theaudience, underlined the ministry’s inter-est in spreading renewable energy tech-

continued on page 8

f.l.t.r.: Annika Strate, Coordination Office Renewable Energy Export Initiative, German FederalMinistry of Economics and Technology; H.E. Saleh H. Al Turki, Ministry of Finance of theKingdom of Saudi Arabia; H.E. Dr. Reiner Haselhoff, Federal Minister of Economic Affaireand Employment of Saxony-Anhalt; Dr. Jürgen Sander, Managing Director VEM motorsGmbH and Member of the Board of NUMOV

Tthe delegation at the State Chancellery of Saxony-Anhalt

H.E. Saleh H. Al Turki, Ministry of Finance of theKingdom of Saudi Arabia

8

Saudi Business Delegation visited Magdeburg and Leipzig


continued from page 6

nology to more countries in the nearfuture. Furthermore, she looked back atthe achievements the CoordinationOffice has reached since its foundation:more than 260 business trips wereorganised with more than 1200 firms,130 trade fairs were attended and notleast 27 projects in the solar roof pro-gramme were successfully concluded.

Also, 60% of German companies, inter-ested in finding business partners, cansuccessfully tie relations to their coun-terparts abroad and many contracts aresigned soon after events like this inMagdeburg, according to Ms. Strate.

Ulrich Dill, Vice President of the SolarEnergy Clusters belonging to theNational Industrial Cluster DevelopmentProgramme of the Saudi Ministry ofCommerce and Industry, reinforced thevarious advantages Saudi Arabia offersto investors in green technology, espe-cially photovoltaic. Paraphrasing hisideas, he highlightened that the SaudiKingdom has enough low-priced space,it is a big and still growing market, trans-portation infrastructure enables fast link-ages, resources like energy, silicon andaluminium are inexpensive and tax, loanand ownership conditions contribute toa flourishing economy.

Professor Dr. Abdulrahman M.Alamoud, Scientist of Microelectronicsand Solar Energy at the King SaudUniversity, gave a speech about con-crete applications powered by solarenergy in future Saudi Arabia. He sug-gested using photovoltaics in the con-struction of new street lights, (water)pumps, telecommunication posts, emer-gency lights as well as water desalina-tion technology. He argued that especial-

ly energy subsidies will decrease in theSaudi Kingdom and that is why it is nec-essary to look for inexpenceive, eco-nomical and practicable ideas.

Dr. Christian Hagendorf, member ofthe research group Fraunhofer Centerfor Silicon Photovoltaics, briefed theaudience about the regional and sector-specific clustering of renewable energycompanies in Germany. It is obvious, hestated, that in the south-west the majori-ty of solar firms produce photovoltaicequipment as compared to the easternpart of Germany, where the hot spot ofphotovoltaic component production issituated. After a lively question andanswer session with a lot of interestingstatements, the participants had the pos-sibility to hold talks, meet possible tradepartners or gain information about con-ditions for doing business in SaudiArabia and Germany, respectively.

After the successful conference was finished, the Saudi delegation was invit-ed to a festive dinner by Minister H.E. Dr.Haseloff. H.E. Dr. Haseloff warmly wel-comed the guests from Saudi Arabia andemphasized the enormous importanceof the Saudi delegation for Saxony-Anhalt’s economy. Anyhow, this busi-ness delegation was one of the largestdelegations from abroad that had evervisited the federal state, he stated.

On Wednesday, August 4th 2010, theSaudi delegation visited the solar com-pany Q-Cells SE in the “Solar Valley”Thal-heim in Saxony-Anhalt. Q-Cells SEis one of the biggest and most success-ful solar companies in the “heart of thesolar industry” in the region.Dr. Joachim Reiß, Vice President ofMarket Development by Q-Cells SE,gave a brief overview over the develop-ment of the company, which was found-ed 1999. After the presentation of thecompany, the participants of the delega-tion were guided through Q-Cells’ pro-duction line by a technical staff who pro-vided the guests from Saudi Arabia withdetailed information about the facilitiesand the production process of PV tech-nologies.

At Solarion AG, a solar company locat-ed in Leipzig, Dr. Karsten Otte, CEO ofSolarion, and Stefan Nitzsche, SalesManager, introduced their company,which was founded ten years ago.Solarion develops and produces thin-filmsolar cells and modules employing apatented ion beam assisted manufactur-ing process that deposits a thin layer ofcopper indium gallium selenide (CIGS)on the lightest substrate available at reduced deposition temperature.Solarion has the vision to become theleading producer of CIGS cells in thefuture. Afterwards, the module pilot line for CIGS solar cells was pre-sented to the delegation members.

At P-D ChemiePark Bitterfeld WolfenGmbH the Saudi participants werereceived by Matthias Gabriel, CEO ofP-D ChemiePark Bitterfeld Wolfen, whopresented the manifold activities of hiscompany in several industrial fields suchas infrastructure, transport, chemicalindustry, and, of course, solar technology.The delegation was also guided through theproduction facilities of the company.

The Participants of the Conference in Magdeburg

Saudi Delegation Participants at SolarPark “Waldpolenz” in Brandis


Qatar

Qatar’s Rising Role in the European LNG Marketby Verena Wais

In the 1990s, Qatar discovered lique-fied natural gas (LNG) as a source and

opportunity of diversifying the country’seconomy. The shift towards LNG pro-duction appeared to be an obvious stepnot only because Qatar has the secondhighest proven gas reserves in theregion after Iran and the third highestworldwide after Russia and Iran, but alsosince LNG can be forwarded by sea ascompared to the less flexible transporta-tion via pipelines and, therefore, allowsto attend to more international cus-tomers on the global gas market. Thedelivery of its first cargo of LNG fromQatargas took place in 1997. With theoffshore north field, the world’s largestgas field, as a source for its LNG pro-duction, Qatar quickly got into negotia-tions with international companies inorder to set up export agreements.Today, there are several LNG companieswhich all resulted from joint venturesbetween the state owned QatarPetrolium (QP) and foreign investorssuch as Ras Laffan Liquefied NaturalGas Co (RasGas) and Qatargas withtheir several subcompanies. Besidesproviding the Asia-Pacific market withLNG, in recent years Qatar has startedto put emphasis on the Atlantic marketas well, particularly the European mar-ket mainly represented by Spain (Bilbao,Barcelona, Cartagena, Huelva), Italy(Rovigo), France (Montoir De Bretagne),Belgium (Zeerbrugge) and the UK(approved new terminal South Hook).Although being the world’s fastest-grow-ing energy sector, LNG is relatively newto the European market and except forItaly and France which have both start-ed to import LNG in the 1970s, mostother European LNG importers have juststarted to actively do so in the past tenyears. As has been shown in recentyears, the Atlantic market for LNG, whichincludes a steadily growing Europeanmarket, will increase more than theAsian-Pacific market. Europe’s currentlydeveloping interest in LNG can beascribed to the intention of finding alter-natives to pipeline transportation of gaswhich though primarily applies to thosecountries who have direct access to theopen sea. Another advantage of LNG is

its smaller volume making transportationmore economical, its qualitative superi-ority over pipeline gas and declining con-struction and shipping costs which addi-tionally explain its sudden upswing. Asmentioned above, the attractiveness ofLNG is higher in countries with directsea access which is reflected in the listof European countries who are notewor-thy importers of LNG (France, Italy,Spain, Portugal, Belgium, Greece, UK,Turkey with the Netherlands and Croatiaunder construction). From the 1970suntil just recently, Algeria, Malaysia andIndonesia were the main suppliers ofLNG to Europe and the world. In the pastten years, those countries were replacedby Egypt, Algeria and Qatar as topexporters with Qatar currently being theworld leading LNG supplier and secondlargest supplier to Europe after Algeriawhich still asserts the position asEurope’s main supplier. Most countrieswhich are currently importing LNG havedirect access to the sea which is thoughabout to change. Central and EasternEuropean countries are also showinginterest in diversifying their gas supply

with Germany beingupfront in following thistrend. Although plans forbuilding a port in theNorth Sea area havebeen temporarily dis-missed, Germany is stillplanning on activelyengaging in this new sec-tor by using ports outsidethe country, for example,by getting involved in theGate Terminal projectwhich aims at building

the first LNG terminal in the Netherlands.

The Rotterdam based terminal which willbe used as LNG port by E.ON Ruhrgasis supposed to have an initial throughputcapacity of 12 bcm per annum and willalso be able to accommodate the newQatar Max Vessels. The companyentered into a commitment to purchase3 bcm per annum and has additionallytaken a 5 percent share in Gate Terminalwhich will be at work in 2011. TheGerman company has already startednegotiations with RasGas and Qatargasregarding the import of LNG. Focusingon long term contracts with Qatar andAlgeria, E.ON Ruhrgas shows interest injoining the LNG market with the intentionof conveying 10 bcm of natural gas fromits own source. Poland also startednegotiating over LNG imports from Qatarwhich manifest itself in a contractbetween the Poland Oil and GasCompany (PGNIG) and Qatargas.According to the agreement, Poland willreceive 1.5 bcm of LNG per annum,starting in 2014, with a duration periodof 20 years.

Destination

(supplier)2005 2006 2007 2008 2009 2010 2011 2012 201320142015

Italy (RasGas 2) 4.7 4.7 4.7 4.7 4.7 4.7 4.7

Spain5 (Qatargas 1) 2.2 2.6 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9

Spain (Qatargas 1) 0.7 0.5

Spain (RasGas 2) 0.6 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8

Belgium (RasGas 2) 2.6 3.4 3.4 3.4 3.4 3.4 3.4 3.4 3.4

Belgium (RasGas 2) 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1

UK (Qatargas 2) 4.0 6.5 7.6 8.0 8.0 8.0 8.0

France/UK/USA (Qatargas 2) 3.0 6.5 7.6 8.0 8.0 8.0 8.0

Grand Total ( worldwide) 22.4 24.1 26.7 30.7 44.7 61.0 74.0 75.0 75.0 77.0 77.0

Algeria EgyptEquat.

Guin. Libya Nigeria Norway

Trinidad

and

Tobago

Abu

Dhabi Oman Qatar Yemen Australia

Belgium 0.146 0.143 0.283 0.263 10.075

France 12.249 2.556 0.133 3.867 0.722 1.211 0.352 0.145

Greece 0.873 0.418 0.075

Italy 2.042 2.699

Por-

tugal0.184 0.136 3.408 0.688 0.131

Spain 8.901 7.917 1.185 7.416 2.314 7.277 2.187 7.481 0.155

Turkey 6.909 0.140 1.404 0.138 0.132 0.150

The UK 2.806 0.822 0.354 3.420 10.128 0.131

Europe 33.964 11.999 0.269 1.185 16.238 3.673 13.072 0.131 2.319 30.885 0.155 0.276

Qatar Sales and Purchase Agreements (mtpa)

Quantities (106 liquid m3) received in 2009 by the Importing Countries from the Exporting Countries

Source: The International Group of Liquefied Natural Gas Importers The volume of the liquid is approximately 1/600 of the gaseous volume at atmospheric conditions

Source: The International Group of Liquefied Natural Gas Importers

Iraq’s huge Potential for German Business


HR: The IMF is projecting real GDP growth rates of over 7% per year until2012, with non-oil real GDP rates bet-ween 4.5% and 5.5%. Are you satisfiedwith the country’s economic performan-ce? What are the main challenges forthe Iraqi economy in the coming years?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb:Given the challenges my country is cur-rently facing, I am satisfied with the eco-nomic progress which has been made.Our currency is sound and stable in timeof financial difficulties world wide, inflati-on is considerably down from 100% in2006 to 13% at the end of 2009 and 7%forecast for 2010, unemployment isdown although still high and the IMF pro-jections you mentioned are all signs ofprogress and recovery. The Iraqi eco-nomy has been transferred from agovernment controlled one to a free andopen market one. Sound economicplans have been made with the help ofinternationally respected institutes andadvisers. Several reports by the IMFand the World Bank have noticed posi-tively the correct economic steps taken

by Iraq. Governor of the central Bank,Sinan Rudha Alshebibi, was chosen bythe Time magazine as one of the tenbest financiers in the world for 2009.The challenges my country is facing inthe coming years are many. Amongthem are strengthening security andsustaining the gains, winning the fightagainst corruption, improving the economic plans regularly and achievinga high degree of implementation, provide training for civil servants andworking power in general in order tomake up for many years of iso-lation and take all the necessary stepsto steadily improve the investment’s environment.

HR: Recently, theIraqi governmentlaunched the five year deve-lopment plan for2010 to 2014.2,700 projectswill be implemen-ted at a cost ofUSD 186 bn.How do you seethe opportunitiesfor German com-panies to partici-pate in these pro-jects?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb:There are huge opportunities for Germancompanies to participate in what is pla-ned. First of all, German products, espe-cially machinery, technology and know-how are highly respected and demandedin Iraq. This means a good exportingmarket. Secondly, there are wide ran-ging investment opportunities in differentfields in the presence of an attractiveinvestment law. Iraqis feel that they canlearn from the German experience innation building after a devastating war.Many of the top government officials andcivil servants I met before taking up mypost in Berlin emphasized this.

HR: How do you assess the regionalintegration of Iraq concerning its neigh-bouring countries?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb:Relations, in all fields and levels, withmost of our neighbors have improvedsignificantly since 2003 and I foreseeeven more improvement with all coun-tries in the region, the intentions and thewill are there to achieve that. This couldbe enhanced by the following facts: poli-tically the new system in Iraq isdemocratic and parliamentary striving forpeace internally and externally, econo-mically Iraq is a wealthy country with anopen market system which is adopted byits neighbors also, socially the ties bet-ween the people of the region in gene-ral are diverse and historical includingfamily and religious ones. So the groundfor Iraq to be integrated in the regionwith all its neighbors is already set andneeds to be extensively used.

HR: What role will the Gulf CooperationCouncil play in the future developmentof Iraq?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb:Member countries of the GulfCooperation Council are expected toplay an important role in the future deve-lopment of Iraq. In addition to what Ihave mentioned above, the sympathyIraq enjoys among the GCC countries,availability of the capital needed forinvestment, the nearby investment envi-ronment and on the top of all the realiza-tion that a stable and prosperous Iraq isin the benefit of all countries in the regi-on, are factors influencing and enhan-cing the future cooperation between Iraqand the GCC.

HR: NUMOV will conduct a businessdelegation to Baghdad from 2nd to 4th

November 2010. How do you evaluatesuch a business delegation aimed atinforming its participants about the Iraqimarket?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb: I am very pleased with the important roleNUMOV is playing in promoting economic cooperation between Iraq and Germany. Such visits to Iraq by

Iraq’s huge Potential forGerman Business


12

Helene Rang and H.E. Dr. Hussain M. FadhlallaAlkhateeb, Ambassador of the Republic of Iraq toGermany

Marc Neumann, Chairman of the Board of Managing Directors of FerrostaalIndustrieanlagen GmbH, Member of the Board of NUMOV and H.E. Dr. Hussain M.Fadhlalla Alkhateeb Ambassador of the Republic of Iraq to Germany

LUFTHANSA increases flights to IRAQ

Frankfurt -

Erbil (Iraq)

NEW from 25 April 2010

Flights operate on Tue, Thu, Sat and Sun

LH 696 Frankfurt 10:15 hrs - Erbil 15:40 hrs

LH 697 Erbil 16:45 hrs - Frankfurt 20:25 hrs

Munich -

Baghdad

(Iraq)

NEW from 30 September 2010

Flights operate on Tue, Thu, Sat and Sun

LH 606 Munich 08:55 hrs - Baghdad 14:15 hrs

LH 607 Baghdad 15:45 hrs - Munich 19:35 hrs

business delegations are important eye openers and very informative.Participants will be surprised with thefacts on the ground. The media as usualreports mostly the exciting and tragicevents, sometimes with exaggeration.Unfortunately my country has sufferedfrom negative and unfair media report-ing. Participants of business delegationswho visited Iraq recently have went backto their countries with much more posi-tive opinions and better knowledge ofthe market opportunities, investmentenvironment and the general situation inthe country. By visiting Iraq you can seethe facts for yourself.

HR: What are the main incentives forGerman companies to enter the Iraqimarket? How do you assess the securi-ty situation in Iraq?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb: First the incentives. Iraq is a land ofpromising business opportunities. It iswell known that the country is a wealthyone having the second largest oil

reserves in the world, with a high percentage of educated people and aneager to learn population. Combine this

fact with the presence of a very assur-ing and attractive investment law andwith the huge and diverse reconstruction

Iraq’s huge Potential for German Business

The IRAQI GERMAN BUSINESS DIALOGUE:� will be distributed to more than 5,000 business people in Germany and in Iraq

� will give you the opportunity to present your company to the German and Iraqi business community

� will allow you to find new Iraqi or German partners and open up new avenues of economic cooperation

� will provide comprehensive economic information about both countries

� will provide informative interviews with personalities from politics and business

� will be published quarterly

REPLY TO: NUMOV / German Near and Middle East Association

Email: [email protected]; Fax: +49 (0)30-206410-10

� Yes, we are interested to present our company in the business magazine

IRAQI GERMAN BUSINESS DIALOGUE.

Please send us further information about the possibilities and advertisement fee

Name, Company, Address, Telephone, Fax, Email, Web

13WirtschaftsForum Nah- und Mittelost 5/2010

Germany is one of Iraq’s important business partners.

Companies of both countries are well advised to com-

municate their business interests to the German and

Iraqi business community. NUMOV, the German Near

and Middle East Association, will publish the first

issue of its business magazine IRAQI – GERMAN

BUSINESS DIALOGUE. Founded 75 years ago,

NUMOV is Germany’s oldest and largest non-profit and

independent service provider for the Near and Middle

East region. Please also visit www.numov.de.

continued on page 14

New

H.E. Dr. Gerhard Schröder, former German Chancellor and Honorary Chairman of NUMOV and H.E. Dr. Hussain M.Fadhlalla Alkhateeb, Ambassador of the Republic of Iraq to Germany


Iraq

projects planed in all fields: infrastruc-ture, electricity, industry, health care,education, agriculture, … etc, sure you willagree that Iraq is an attractive countryfor investment. Add to all of that the popu-larity which German products, servicesand technology enjoys in Iraq, then onecan realize that specially for Germancompanies my country is attractive.Secondly the security situation: securityin Iraq is improving steadily in all partsof the country despite the disruption tothis pattern which happens sometimes.

Alqaida and its allies, the remnants ofthe Baath party, are denied of safe ha-vens, recruits and financial resources.Regularly leaders of the terrorist groupsare captured or eliminated and theirplans interrupted. Having foreign compa-nies operating in nearly all parts of thecountry is a sign to the existence of asafe environment for investment.

HR: For several years you have lived inthe Netherlands and you speak Dutchas well. As new Ambassador of theRepublic of Iraq to Germany, you willface lots of new perspectives concern-

ing Germany itself and Europe. How areyour first impressions?

H.E. Dr. Hussain M. Fadhlalla Alkhateeb: Despite the very busy and demandingschedule I am having in my new post, Iam enjoying my time and feel already athome. I lived for more than 24 years inEurope, 20 of it in the Netherlands and Icarry a lot of dear memories from thoseyears in my mind and heart. I am not astranger to the European politics andway of live. However I am impressed fromwhat I have seen and experienced in thelast two months I spent as an ambas-


Billion Dollar effort: power plants may mushroom throughout Iraqby Christoph Karge

Electricity rationing and hours ofpower outage are still a reality in Iraq

which is not only existant since 2003, butthe lack of electricity distribution hasrather been an issue since the 1990s.The Iraqi population reacted pragmati-cally: private power grids supplied bydiesel generators have been spreadingall over Iraq. Nevertheless, the last yearshave seen great efforts by the Iraqi gov-ernment attempting to improve the elec-tricity production. So it is expected that

the supply of energy will reach its demandfor the first time in decades. The mostimportant reason is, obviously, the reha-bilitation and construction of new powerplants. The following short excursus innumbers and figures will substantiatethe previous point: since 2003, electrici-ty consumption has grown by 15% eachyear to 13,000MW in summer 2009 and15,000MW per day in this year. Iraq isthus one of the fastest growing energy and electric devices markets

in the region.However, in con-trast to the supply,there is a6,000MW gap ofmissing electricity.Even today, Iraqimports a tenth ofits 9,000MW peakproduction from itsneighbors Turkey,Iran, Jordan, Syriaand Kuwait. In2003, the WorldBank published astudy pointing outthat Iraq will needa USD 20 bninvestment to bal-ance the energyconsumption withits production.Only three yearslater the Washing-ton-based institu-tion corrected theirfigure to USD 27

bn. Taking that into account, the IraqiMinistry of Electricity assumes that USD28 bn will be necessary to appease thesituation on the electricity marketbetween 2008 and 2012. Having elabo-rated strategies and plans, the Ministrynegotiated contracts with GeneralElectrics (GE) and Siemens in order to deliver power plant turbines.

To fulfil the mentioned energy ambitions,the government does not only providefunds and builds power plants in coop-eration with state-owned companies, butalso the laws restricting the engagementof private investments in the electricitysector were changed with the intentionto facilitate the inflow of non-public capi-tal. Having that in mind, two measuresshould be highlighted: first and foremost,since 2009, a licensing process hasbeen allowing corporations to operatepower stations larger than 30MW whichwas the upper limit for private activitybefore the reform. Nevertheless, enter-prises running a power plant are obligedto sell their electricity to the Ministry ofEnergy. Secondly, this year, the Iraqiprovincial authorities were enabled toinvest in and possess power plants too.That is why the Iraqi government’sGeneral Plan for Electricity incorporatesa 24,000MW energy increase by the endof this decade, 2020. The assessedincrease in electricity is not over ambi-tious considering the surge of American,German, French, Korean and Chinesefirms represented in the bidding roundsinviting tenders to build new plants.

Power Plant Projects for 2010 and 2011

City Province Capacity Fuel EngagementCost in

USDTurbine

1 Missan Missan 180MW Oil State with Missan PIC

2 Samawa Muthana 500MW Oil State with Muthana PIC 1000m GE

3 Near Mossul Ninewah 400m GE

4 Nasiriya Thi Qar500 and

600MWOil Thi Qar PIC 900m GE

5 Near Bagdad Bagdad 500MW Gas Taqa (Abu Dhabi) 200m

6 Tuz Khurmatu Kirkuk220MW

addedGas Siemens (Germany) Siemens

7al-Zubaidiya

near KutWasit 1320MW Oil

Shanghai Heavy

Industry (PRCh)1000m

8 Hilla Babil 250MW GasSNC-Lavalin (Canada)

with al-Hurra (Iraq)85m GE

9 Karbala Karbala 250MW GasSNC-Lavalin (Canada)

with al-Hurra (Iraq)85m GE

10 Al-Taji Bagdad 160MW GasUruk Engineering

Service (UAE)85m GE

11 Basra Basra 500MW Gas STX Heavy (South Korea) 85m

12 Dohuk Dohuk 500MW Gas

Mass Global (Iraq)

480m GE

13 Jamjamal Sulaimaniyah 750MW Gas 700m GE

14 Erbil Erbil 500MW Gas 480m GE

15 Near Basra Basra 1200MW OilAlstom (France) 1500m

16 Najaf Najaf 180MW Gas

17 Tazt Al Ghazia Kirkuk 260MW Gas Siemens (Germany) Siemens

18 Northern Iraq 50MW Wind

STX Wind Power (South-

Korea) with Main Wind

Company (Netherlands)

115m STX

19 Um Quasr

Basra 346MW Oil

Karadeniz Holding

(Turkey) with Wartsily

(Finland)

2 Powership

scheduled for

summer 2010

various

20 Al Zubayr

21 NajafNajaf

320MWGas Iran

125m (unclear

state of

projekt)22 al-Haydariya

Source: NUMOV research


sador of Iraq to the Federal Republic ofGermany. All whom I met are friendly,kind, honest and serious. The ForeignMinistry is very helpful. I am happy andexcited to sense the remarkable interestofficials, politicians, businessmen, scien-tist, and others are demonstratingtowards enhancing the ties between Iraqand Germany in all fields.

HR: Thank you very much for this interview.

Meeting with H.E. Dr.Gerhard Schröder,the former chancellor appreciated the“historically important and stable rela-tionship” between the two countries. Atthe same time he emphasized the needto activate the countries’ partnershipanew and to strengthen it, especially atinternational level. Further he mentionedIraq’s huge human capital resources.Many of those highly qualified Iraqis lifein Germany. H.E. Dr. Gerhard Schröderpositively emphasized Iraq’s willingnessto accept challenges and he expressedhis understanding, saying that in everycountry undergoing such a development,

democracy needs time to materialize.He concluded promising to support theAmbassador in his new office.

H.E. Dr. Hussain Alkhateeb expressedhis gratitude and declared its convictionfor the Iraqi people to successfully copewith the democratization process.Furthermore he emphasized Iraq’s whishto strengthen its relations with Germany.The Germans, he stated, enjoy a verygood reputation in Iraq because of theirstable global politics and are known forthe successful reconstruction of theircountry after war and destruction.

H.E. Dr. Hussain M. Fadhlalla AlkhateebAmbassador of the Republic of Iraq to Germany

1970 - 1974 Bachelor of Science, (B.Sc.) inChemistry, University of Baghdad.

1975 - 1977 Master of Science, (M.Sc.) in PhysicalChemistry, University of Baghdad.

1978 - 1980 Doctor of Philosophy, (Ph.D.) inInorganic Chemistry, University of Manchester Instituteof Science and Technology (UMIST) in England.

1981 - 2008 Researcher:i. University of Amsterdam at the department of

Chemistry, ii. Heriot Watt University, Edinburgh, Scotland. iii. B&A Group, The Hague, the Netherlands.

● Professor and Member of Staff, department ofchemistry, college of Science, Al Fateh University,Tripoli, Libya.

● Co-founder and chairman of "Union of Iraqi orga-nizations in the Netherlands" (UVIO) which con-sists of 20 Dutch NGO's.

● Member of the Advisory Committee to the"Research on Iraqi Refugees in the Netherlands" forthe Dutch Ministry of Justice.

● Co-founder and board member of the "IrakeseVerenigingen Raad", a platform of 12 DutchNGO's.

● Member of the contact committee for the IraqiNOG's in the Netherlands.

● Co-founder and Chairman of the Organization ofHuman Rights in Iraq (OMRI) in the Netherland.

WORK EXPERIENCE2009 - Current Ambassador, Ministry of Foreign Affairs,Baghdad, Republic of Iraq.

H.E. Dr. Hussain M. Fadhlalla Alkhateeb, Ambassadorof the Republic of Iraq to Germany

Iran


Iran and India discuss underwater pipelineby Müzehher Selçuk

India and Iran signed 6 pacts onexpanding each others economy and

strategic areas during the 16th joint com-mission that took place from 8th

to 9th July 2010 in Delhi, India.Issues of bilateral and regionalimportance were discussed dur-ing the two day meeting of thejoint commission. Joint coopera-tion projects such as the Iran-Pakistan-India-pipeline (IPI)were discussed, as well as theunderwater pipeline projectbeing brought up for the first timeon such a high level meeting.Furthermore, they signed air ser-vice agreements, transfer of con-demned persons agreements, aMoU on renewable energy and aMoU on small scale industriesbetween India and Iran. In addi-tion to this, the other two pactsdealed with programmes ofcooperation in the science, tech-

nology and information sectors (pulp andpaper research). However, the IPI-Project and the underwater pipeline

were the most significant points of the16th joint commission. India is alreadytrying to conduct feasibility studies on

the sea route. Meanwhile, Iranstarted constructions on the sec-ond phase of IPI to deliver gas toPakistan. The pipeline from thesouth western gas fields of Parsto the southeast of Iran is alreadyunder construction and half of thepipeline is completed even thoughIndia is still undecided andPakistan active involvement is puton hold due to domestic issues.According to news agencies, Iranwill probably start exporting gas toPakistan in 2011.

Iran is interested in the IPI projectbecause it would be not as costlyas the underwater pipeline. SinceIndia did not withdraw from theproject, both solutions will be dis-cussed in the near future.

TEPIX, the index of the Tehran StockExchange (TSE) is achieving an all

time high of 16.282 points and a presentcapitalisation of about USD 100 bn. TheTSE is containing a variety of compa-nies, such as banks, telecommunicationas well as from raw material sectors.One reason for this performance is theprivatisation of state owned companiesand the fact that the Iranian governmentsold its shares of the two biggest auto

makers of Iran, Saipa and Iran Khodro.Furthermore, the Iranian stock market isopen for foreign investors and, conse-quently, the market is experiencing aboom. Turkish companies confirmedtheir interest in investing in Iran and instrengthening the economic ties. In July,the TSE launched eight futures contractsbased on two listed banks (Parsian Bank

and Karafarin Bank) to attract moreinvestors and to diversify the exchangein a positive way. In 2009, the TSElaunched a strategy aimed at moderniz-ing its financial instruments. The IranianStock Exchange was established in1967. After 1979, nearly the whole mar-ket was state-owned and in the 1990s, a phase of privatisation began based onthe article 44 of the Iranian constitutionthat also slowly loosened the strictarrangements on international tradingactions.

Iran’s stock market reaches all time highTop 10 Companies by Market Capitalization

Name Market Cap.(million $)

% of TotalMC

Iran Tele. Co. 9005.8 13.22Isfahan Mobarakeh Steel Co. 3641.4 5.35

National Copper Ind.Co. 3586.56 5.27

68,117.57MAPNA 2617.14 3.84

Chadurmalu 2514.36 3.69

Saipa 2102.22 3.09

Saderat Bank 2064.51 3.03

Mellat Bank 2024.42 2.97

Parsian Bank 1942 2.85

Isfahan Oil Refinery Co. 1907.42 2.80

Total of Market 68,117.57

Top 10 Companies by Value of Trades

NameTurnoverValue (million $)

% ofTotal Turnover

Iran Tele. Co. 306.39 13.59National Copper Ind.Co. 271.93 12.06Tejarat Bank 239.17 10.61Isfahan Mobarakeh Steel Co. 190.05 8.43

Isfahan Oil Refinery Co. 133.74 5.93Parsian Bank 130.9 5.81Saderat Bank 128.19 5.69North Drilling Co. 103.09 4.57Rena Industrial Group Inv Co. 83.06 3.69

Saipa 67.44 2.99Total of Market 2,254.06

Main Suppliers of FuelAccording to Mehr News AgencyTurkey and Singapore have becomeIran’s leading fuel suppliers in the lastfive months. They succeeded Indiaand Pakistan who had been playingthis role in the past. Iran’s mainprovider for this resource are theUAE, Turkey, Turkmenistan, theNetherlands and Singapore.

Source: Tehran Stock Exchange June 2010

Source: Tehran Stock Exchange June 2010

16

Current Iranian oil and gas pipelines

Saudi Arabia Launches EUR 298 bn Five-Year Development Plan


The Ministry of Economy of theKingdom of Saudi Arabia and

Planning announced its 9th five-yeardevelopment plan scheduled for theperiod 2010-2014 which exceeds theprevious five-year plan’s budget by 67%.It represents the second round of thecurrent long-term strategy for the Saudieconomy which stretches over the 15forthcoming years. The plan aims atrealizing an average annual GDP growthrate of 5.2% at constant prices of 1999and consists of five general objectives:improvement of the citizens’ living stan-dard, development of the national workforce, reduction of the unemploymentrate, establishment of a balanced devel-opment among the regions of theKingdom, deepening the process of hor-izontal and vertical diversification of itsproduction and thereby increasing thecontribution of non-oil sectors to thecountry’s GDP. As indicated by the tablebelow, the kingdom plans to achieve a81.3% share of non-oil products con-tributing to the GDP in 2014.

To realize these objectives the develop-ment plan focuses on five developmentsectors: Human Resources Develop-

ment, Social Development and Health,Economic Resources Development,Transport and Communications Sectorand Municipal Services and HousingSector.

Thanks to the tremendous extension ofthe budget government’s investmentswill increase strongly in each of thesesectors. With 50.6% (EUR 151 bn) theHuman Resources Sector will receive byfar the highest amount of the total allo-cations. This is an increase of 52.4% ascompared to the 8th development plan.Investments will be made in generaleducation bodies such as the extensionof the capacity of schools, kindergartensand vocational training colleges. In thefield of higher education the countryaims at increasing the number of gradu-ate and post-graduate students and atimproving the internal efficiency, the student/teacher relations and the avail-ability of scholarships. In this field,planned spending raises by 91.6%.

The Social Development and HealthSector will achieve 19% (EUR 57 bn) ofthe total allocations which is a gain of75.6 % compared to the previous devel-

opment plan. It focuses mainly on theimprovement of the kingdom’s healthcare system. The plan stipulates a sig-nificant increase of the number of hospi-tal beds, primary health care centres andemergency centres. Along with that, ahuge increase of health personnel isplanned.

The Economic Resources DevelopmentSector concentrates on investments inagricultural projects, water utilization,electricity and tourism. Its share of theoverall allocation will be 15.7% (EUR 47bn) which is an increase of 115.2% ascompared to the 8th development plan.7% (EUR 23 bn) will be invested in pro-jects relating to the Municipal Serviceand the Housing Sector, mainly focusingon the public and private sector provid-ing residential units and land for hous-ing projects. This sector gains a finan-cial boost of 52.9%.

The Transport and CommunicationsSector will receive 7% (EUR 21 bn) ofthe total allocations which equates agrowth in monetary funds for invest-ments of 96.7%. Intended projects con-cerning the transport system are theestablishment of Ras Azzour port, thecompletion of the upgrading of KingAbdul Aziz International Airport inJeddah, the upgrading of PrinceMohammed Bin Abdul Aziz InternationalAirport in Madinah and the completionof railroad network expansion (North-South line, Al-Haramain High SpeedTrain, Land bridge).

Furthermore, major projects concerningthe postal system are intended such asproviding all front offices, sales outletsand postal processing points with mod-ern technology, linking 600 post officeswith a computer network and the forma-tion of strategic partnerships with theprivate sector to obtain promotionalpostal services, financial services andmixed postal services.

Projected GDP development according tothe 9th Development Plan

Value EUR Billion Average Annual Growth Rate (%) % of GDP

2009 2014 Target Ninth Plan 2009 2014

A) Non-Oil Sectors 136.6 185.5 6.3 77.1 81.31. Productive Sectors 47.2 64.2 6.3 26.7 28.21.1 Agriculture, forestry and fishing 8.4 9.15 1.7 44.7 4.01.2 Non-oil mining and quarrying 0.6 0.9 9.2 0.4 0.41.3 Manufacturing industries 22.4 31.8 7.2 12.7 14.01.3.1 Oil refining 4.9 6.9 7.0 2.8 3.01.3.2 Petrochemicals 2.9 3.9 5.7 1.7 1.71.3.3 Other manufacturing industries 14.6 21.0 7.6 8.2 9.21.4 Electricity, gas and water 3.1 4.4 7.5 1.7 1.91.5 Building and construction 12.7 18.0 7.2 7.1 7.82. Private-Service Sectors 58.1 81.7 7.1 32.8 35.82.1 Trade, restaurants and hotels 15.5 22.0 7.3 8.7 9.62.2 Transport and communications 12.1 16.2 6.1 6.8 7.12.3 Financial, insurance, business, and real-Estate services

23.6 33.5 7.2 13.3 14.7

2.3.1 Real estate 11.9 16.6 6.8 6.7 7.32.3.2 Financial, insurance and business services

11.7 17.0 7.6 6.6 7.4

2.4 Community and personal Services 6.9 10.1 7.9 3.9 4.43. Government Services 31.3 39.5 4.8 17.7 17.3B) Crude Oil, Natural Gas sector 42.1 44.7 1.2 23.7 19.6Other items -1.5 -2.1 7.4 -0.8 -0.9GDP 177.2 228.1 5.2 100 100

Saudi Arabia Launches EUR 298 bn Five-Year Development Planby Elisabeth Seefried

Source: Saudi Ministry of Development and Planning

A brief description of the plan can berequested from NUMOV members [email protected].

17

UAE


The Abu Dhabi National EnergyCompany (Taqa) increased its profit

by 160 percent up to USD 124.6 m dur-ing the first half of 2010 as compared tothe same period of the previous year.Established in 2005 under the Abu DhabiWater and Electricity Authority’s(ADWEA) privatisation programme, Taqais considered the strategic investmentarm of ADWEA.

Through ADWEA, the governmentimplemented its long term privatisationprogramme of the water and electricitysector currently including eight indepen-dent producers of water and electricitywhich are split up into joint venturesbetween ADWEA (60%) and internation-al investors (40%) generally referred toas Independent Water and PowerProduction (IWPP’s). With the ADWEAhaving a 51% share and the FarmersFund (established to replace farming

subsidies over the long run) owning24%, Taqa was founded with the aim ofbeing in charge of investing AWDEA’sshare of the IWPP’s. Through efficientinvestments on a global scale in thefields of power generation, water desali-nation, renewable energy, oil and gasexploration and the laying of pipelines,Taqa has emerged into a successful andprominent international company. Thecompany’s international emphasis isrepresented in its upstream business,active in North America and Europe,which contributed 52% of the overall rev-enues. 46% of the total revenues weregenerated by its downstream businesswhich is mainly responsible for AbuDhabi’s water and electricity supplywhich, though, also operates in Ghana,India, Morocco and Saudi Arabia. One ofthe company’s aims is to further boostinternational expansion by owning,investing and/or operating international

companies which are active in the fieldsmentioned above.

Another part of Taqa’s investment phi-losophy is to diversify its revenues byexpanding into and exploring severalfields of activity and various differentassets. In its annual report 2009, thecompany stated that, although it hasbeen hugely successful with its so farstrategy, it will shift its focus from beingan acquisitive company to one focusingon organic growth and asset optimisa-tion. Despite its international focus, thecompany owns the larger stake of six ofthe eight IWPP’s in the UAE with anoverall production capacity of nearly7,500 MW of power and 600 mimperialgallons of water a day (MIGD) of desali-nation capacity which represents 85% ofthe countries electricity and water sup-ply making Taqa the country’s mainprovider. The above mentioned profit

increase is, among otherthings, due to a greatercapacity in the compa-nies domestic power andwater business resultingin a 12% annualizedincrease in power gener-ation in the first half of2010.

An additional factor whichcontributed to Taqa’spleasing half year resultswas the acquisition of a 40% equity stake in Oman’s Sohar Alumi-nium Company from Abu Dhabi Water andElectricity Authority inJune, which resulted inUSD 24.5 m also beingadded to the company’s profit. The newlyacquired company withits aluminium smelterand 1,000 MW powerplant opened up a newmarket for Taqa, aninvestment in line withthe company’s new strategy and investmentintention.

UAE energy player Taqa with 160% profit riseby Verena Wais

Fairs in the Middle Eastern Region 2011 within the German Foreign Trade Fair Participation ProgrammeDate Fair’s Name Place01/08 – 01/11 ARABPLAST - Arab International Plastic & Rubber Trade Show UAE, Dubai 01/16 – 01/18 Intersec – International Exhibition for Commercial Security, Police Equipment, Border Security, Personal and Occupational Safety UAE, Dubai01/17 – 01/20 SteelFab UAE, Sharjah 01/24 – 01/27 Arab Health - The Middle East Exhibition for the Healthcare and Dental Industry UAE, Dubai02/03 – 02/06 WIN World of Industry Part I - Machinery, Welding, Surface Treatment, Materials Handling Turkey, Istanbul 02/08 – 02/10 M.E. ELECTRICITY - Power Generation and Electrotechnical Exhibtion UAE, Dubai02/08 – 02/10 The Office Exhibition - For the Design & Management of the Office Environment UAE, Dubai02/27 – 03/02 Gulfood - Gul Food & Hotel Equipment Exhibition & Salon Culinaire UAE, Dubai03/07 – 03/10 ARAB LAB Conference - International Exhibition for Laboratory Technology, Instrumentation & Services UAE, Dubai03/15 – 03/20 Abu Dhabi International Book Fair UAE, Abu Dhabi03/17 – 03/20 WIN World of Industry Part II - Otomasyon, Electrotech, Hydraulic & Pneumatic Turkey, Istanbul04/07 – 04/10 Automechanika Istanbul - International Trade Fair for Automotive Manufacturing, Distribution and Repair Turkey, Istanbul 04/26 – 04/28 GESS - Gulf Educational Supplies & Solutions UAE, Abu Dhabi April TIF - International Fair Libya, Tripoli05/12 – 05/14 Project Qatar - International Trade Fair for Construction Technology, Building Materials, Equipment and Environmental Technology Qatar, Doha05/11 – 05/13 KIHE - Kazakhstan International Healthcare Exhibition & Congress Kazakhstan, Almaty05/17 – 05/19 Hotel Show - Equipment, Technology & Services for the Middle East Hospitality Industry (Hotels) UAE, Dubai05/18 – 05/22 Beirut Boat - International Boat & Super Yacht Show05/31 – 06/02 Airportshow - Airport Build & Supply Exhibition UAE, Dubai

05/31 – 06/03 Project Lebanon - International Exhibition for Construction Technology, Building Materials & Equipment and Environment for Lebanon and the Middle East Lebanon, Beirut

May Vision-X (Optical Middle East) - Optical & Ophthalmatic Exhibition and Conference UAE, DubaiMay Photo World Dubai - International Digital & Imaging Exhibition for the Middle East UAE, DubaiMay DOMOTEX Middle East – International Trade Fair for Carpets and Floor Coverings UAE, DubaiMay R+T Middle East - Middle Eastern Platform for Doors, Gates and Sun Protection UAE, Dubai06/01 – 06/03 Beautyworld Middle East - International Trade Fair for Beauty Products, Hair, Fragrances and Wellbeing in the Middle East UAE, Dubai06/07 – 06/09 Automechanika Middle East UAE, Dubai06/07 – 06/10 Caspian Oil and Gas Exhibition and Conference Incorporating Refining and Petrochemicals Azerbaijan, BakuJune FIA – International Fair of Algiers Algeria, AlgierJune Expodental & IDEX - International Dental Congress & Exhibition Turkey, Istanbul09/06 – 09/09 KAZBUILD/Interiors Kazakhstan - International Construction Exhibition & Conference Kazakhstan, Almaty10/04 – 10/07 KIOGE - Kazakhstan International Oil & Gas Exhibition & Conference Kazakhstan, Almaty10/10 – 10/12 Trenchless Middle East UAE, Dubai10/10 – 10/13 SAUDI BUILD - International Construction Technology and Building Materials Show Saudi Arabia, RiyadhOctober GITEX – Exhibition for Computer, Information and Communication Technologies UAE, DubaiOctober Arbil International Fair Iraq, Arbil October Deutsches Symposium für Wasser- und Abwassertechnik Egypt, Cairo11/09 – 11/12 INDEX - International Furniture & Interior Design Exhibition UAE, Dubai11/13 – 11/17 Dubai Airshow (formerly Aerospace Exhibition) UAE, Dubai11/21 – 11/24 Saudi Petrochem - International Exhibition for Chemicals and Chemical Technology Industry incl. Saudi Plas incl. Saudipack/SaudiPrint Saudi Arabia, Riyadh11/21 – 11/24 THE BIG 5 SHOW - International Building & Construction Show UAE, DubaiNovember SITP Salon International des SITP Salon International des Travaux Publics - International Public Works and Construction Trade Fair Algeria, Algier

Source: AUMA

20

XXXXXXXXXXXX


Euler Hermes30.08

Kuwait


Following the International MonetaryFund’s new Country Report on

Kuwait, published in July 2010, theEmirate successfully managed the chal-lenges of the international financial cri-sis - despite the fact that the creditcrunch had a “significant impact onKuwait given its international trade andfinancial linkages.” The applied policymeasures were wide ranging: in 2009,Kuwait’s government bolstered the 5biggest banks with extended depositguarantees and liquidity. By implement-ing the Financial Stability Law the gov-ernment strengthened the incentives forinvestment companies to increase theircapital and introduce precautionary pro-visioning. The new law also simplifiesthe reorganisation of investment compa-nies (ICs). To put it in IMF’s words: the“Financial Stability Law established an efficient mechanism [serving] timely restructuration of debt solvent companies.”

State-owned stock market stabilisationfunds were introduced to ease the tensesituation on the capital market. Last butnot least, the Central Bank of Kuwaitdirectly placed foreign currency swapsand reduced the repo and discount ratesto cheapen the short-term funds. In com-parison to European stabilising policiesand bail outs, the loan guarantees pro-vided by the Emirate were not taken upextensively by Kuwaiti financial insti-tutes. Furthermore, the Ministry ofFinance managed to maintain a USD 18bn surplus in the total 2009 governmentbudge. Moreover, the Kuwaiti govern-ment, in contrast to Saudi-Arabia andQatar, did not pass a stimulus packageto support the real economy. Beside thedecline in oil prices, the absence of astimulus package may have been the

reason why the IMF determined a down-turn of Kuwait’s Gross Domestic Productby 4.4% for 2009 but expects to nearlyrise by 2% this year and an estimated4.5% by 2011. Examining exclusively thenon-oil sector’s growth, the sector is pre-dicted to increase by 2.5% in 2010. Incontrast to the billion dollar surplus in2009, the IMF assumes the budgeexpenditures to exceed the revenues byUSD 20 bn for the fiscal year 2010. Allin all, the government’s spending willhave an expected amount of USD 56 bn.However, the coming year will normalizethe fiscal situation with more incomesthan expenditures, according to the IMF.

Even though the Kuwaitis did not adoptan economic stimulus plan at the peakof the financial crisis in 2008, the gov-ernment is now preparing a large-scaledevelopment programme. Over the next2 years it is planned to additionallyspend USD 17 bn. The total sum willexceed the threshold of USD 55 bn if thegovernment’s idea to incorporate privatepartners works out even. First and fore-most, the stimulus targets to improve theeducation and health care sector. Asemphasised by the IMF, the economicrevival programme will serve to“strengthen investor confidence” as wellas to boost the non-oil economic growth.Also, private domestic investments areforecasted to double from 5.5% ofKuwait’s GDP in 2009 to annually 12%in the period from 2011 to 2015. “FiveICs are known to have defaulted in2009-10” summarises the IMF theimpact of the crisis in Kuwait. In a moredetailed view, bank’s nonperforming loanincreased to nearly 10%, twice as muchas in 2008 and nearly a triple of the 2007quantity. But compared to all other GCCcountries, in 2009, only Kuwaiti bankswere able to turn their 2008 decline intoprofit.

Following the IMF report, banks andnon-financial companies observed prof-its of around USD 1.3 bn and 1.8 bn,respectively. All 109 non-financial corpo-rations quoted on Kuwait’s stock marketare attested to “have adequate dept ser-vicing capacities.” Nevertheless, in

2009, ICs had to cope with debits butalmost halved it to an estimated total ofUSD 1.3 bn.

So the ICs responded with comprehen-sive restructuration and dept conversionprogrammes. The five defaulted banks,namely Global Investment House,Investment Dar, Gulfinvest International,International Investment Group andKuwait Finance and Investment

Company, had uncovered loans of USD3.85 bn. That was in 2009. Since then,the ICs and their creditors have agreedon a “speedy and orderly dept restruc-turing process” which aimed at redirect-ing the ICs on defined narrow businesssegments. The arrangements rangingfrom the “exchange of existing dept withsecured new multi-currency, convention-al, Islamic and bilateral facilities”, costreduction programmes and the transferof “principle investment positions” to newfunds to debt standstill agreements anda protection against court proceedings.Once more, the IMF points out, it is obvi-ous that the Kuwaiti government, ignor-ing the Central Bank, shares no financialburdens linked to the dept conversiondeals and only one bank, the secondlargest Kuwaiti bank named Gulf Bank,needed the direct support of public capi-tal provided by the state.

All in all, the IMF concludes: “stress testsindicate that the banking system could reasonably withstand significantshocks.” Moreover, influence from theDubai dept crisis “has been limited sofar.” With regard to possible further loandefaults because of the engagement ofKuwaiti ICs in the crippled Dubai realestate market, the IMF presumes thatsuch scenarios will be “manageable.”

IMF: Kuwait’s forceful response „contributed to financial stability.“by Christoph Karge

Source: IMF

Source: IMF


Nuclear Energy

Nuclear Renaissance, The Gulf, Euratom,and the EU-Instrument for Nuclear Safety Cooperation

by Eva Tvarozkova / Gerhard Sabathil

With diminishing reserves of tradi-tional hydrocarbon resources and

increasing volatility in their prices, thetopic of energy security is rapidly gain-ing on importance in the global econom-ic and political agendas. In an era whereclimate change issues cannot beignored, the concept of energy securityis changing too. The “solutions of thefuture” such as renewable energies, car-bon capture and storage, or supply anddemand efficiency are however still seenby many decision-makers as too expen-sive, too premature or simply too difficultto implement, given factors such asheavily subsidized electricity prices fromtraditional energy sources.

Therefore, it comes as no surprise thatan ever increasing number of countriesworldwide are turning to a technologywhich is regarded as proven, reliable,with low generation costs and minimumcarbon footprint. Nuclear fission. In itsNuclear Century Outlook the WorldNuclear Association projects a probablenuclear renaissance from today’s 373GWe to a level ranging from 1130 GWeup to 3500 GWe by 2060. This impliesnew nuclear programmes in additional25 countries in all parts of the world. Andeven the countries of the region richestin hydrocarbon resources - the ArabianPeninsula - are no exemption from thisworldwide “renaissance of nuclear power”.

The boom in nuclear cooperation agree-ments concluded in the Gulf region dur-ing the last couple of years is a merereminder of this trend: the United ArabEmirates are having such agreementswith France, Japan, South Korea, andthe United States, complemented by anuclear cooperation memorandum withthe United Kingdom. Saudi Arabia andBahrain have signed memoranda ofunderstanding on cooperation in thenuclear field with the United States. Forinvestigating the nuclear option, Qatarhas also signed a memorandum withFrance. In June 2009, Oman signed anuclear cooperation agreement withRussia, followed by another two

between Kuwait and France in Januaryand April this year.

The history of the region’s nuclear ambi-tions is, however, going to an even ear-lier date. Already in December 2006 the six member states of the GulfCooperation Council announced thecommissioning of a study on the peace-ful use of nuclear energy. Shortly after,in February 2007, they agreed with theIAEA to cooperate on a feasibility studyfor a regional nuclear power and desali-nation program. Saudi Arabia was thenleading the investigation, expecting thata program might emerge in about 2009.This regional GCC project had howeverlost some impetus, also due to falling oilprices and certain progress towards indi-vidual civil nuclear programmes.

In April 2008 the UAE independentlypublished a comprehensive policy onnuclear energy, confirming the thinkingof many other countries: "nuclear powergeneration emerged as a proven, envi-ronmentally promising and commerciallycompetitive option which could make asignificant base-load contribution to theUAE's economy and future energy secu-rity". This included the decision to forgodomestic enrichment and reprocessingof nuclear fuel, the two parts of thenuclear fuel cycle that can most readilybe used for non-peaceful purposes.

In December 2009 the Government set up the Emirates Nuclear EnergyCorporation (ENEC) - the nation’sNuclear Energy Programme Implemen-tation Organization responsible for eval-uating and implementing the nuclearpower plans: the first unit is scheduledto begin providing electricity to the gridin 2017, three later units should be com-pleted at one year intervals by 2020.

The Federal Law Regarding thePeaceful Uses of Nuclear Energy wassigned into effect in October 2009,establishing also the independentFederal Authority of Nuclear Regulation. On the technology side, ENEC selected

at the end of last year a bid from a con-sortium led by the South-KoreanKEPCO for four APR-1400 reactors. Thevalue of the contract for construction,commissioning and fuel loads is approx-imately $20 billion and the consortiumshould earn the same amount for jointlyoperating the reactors for 60 years. Oneof the consortium partners DoosanHeavy Industries was very recentlyawarded a $3.9 billion contract to supplyequipment for the four reactors. Thelocation for the future nuclear plant wasalso already announced - the Braka site,a very sparsely populated area close tothe border with Saudi Arabia and toQatar.

Steps are being taken also by SaudiArabia, following the 2009 announce-ments on possible development of a civilnuclear power program. In April thisyear, King Abdullah bin Abdulazizordered to establish the King AbdullahCity for Atomic and Renewable Energy,which is tasked with promoting research,making future deals, and overseeingactivities related to the use of atomicenergy, including radioactive waste pro-jects. It will be also the agency in chargeof fulfilling national requirements forexisting and future treaties on nuclear(and renewable) energy signed by thekingdom. Just this month the SaudiArabian cabinet agreed to sign a long-proposed nuclear cooperation agree-ment with France.

The other GCC member states havebeen also exploring the possibility ofintroducing nuclear power into theirenergy mix: Qatar has undertaken inves-tigation in to the viability of nuclearpower and also signed in this respect amemorandum with the French Electricitéde France in January 2008 (coveringalso solar and wind energy). Later thatyear Oman announced that there wasnot yet a strong case for proceeding,especially due to unavailability of mod-ern 300-600 MWe reactors. Oman joinedthe international Global Nuclear EnergyPartnership, and in June 2009 signed a

German Trade Figures / Nuclear Energy


Import ExportJan. - June

2009Jan. - June

2010* % ChangeJan. June

2009Jan. - June

2010* % ChangeAfghanistan 1.6 13.4 759.6 106.9 133.4 24.8

Algeria 388.2 376.0 -3.2 762.1 711.4 -6.7

Bahrain 44.5 29.3 -34.2 113.1 161.4 42.7

Egypt 417.5 440.0 5.4 1,274.4 1,548.8 21.5

Iran 149.0 279.5 87.6 1,627.3 1,854.5 14.0

Iraq 32.1 67.2 109.4 299.5 300.9 0.5

Israel 706.5 805.0 13.9 1,033.6 1,397.9 35.2

Jordan 7.3 12.4 70.9 362.5 381.4 5.2

Kuwait 18.4 46.9 154.6 454.1 610.7 34.5

Lebanon 14.3 15.4 7.4 278.1 424.1 52.5

Libya 1,104.4 1,547.0 40.1 796.9 468.4 -41.2

Morocco 277.5 317.7 14.5 611.1 666.5 9.1

Oman 6.2 8.3 33.5 226.7 283.0 24.8

Palestinian Territories 0.30 0.19 -37.8 16.7 17.1 2.4

Qatar 19.5 54.0 176.9 579.4 451.1 -22.2

Saudi Arabia 394.5 257.1 -34.8 2,336.8 2,663.7 14.0

Sudan 8.1 9.2 13.8 85.3 115.9 35.8

Syria 251.3 392.3 56.1 299.1 312.8 4.6

Tunisia 569.6 721.2 26.6 484.8 816.9 68.5

UAE 269.5 247.6 -8.1 2,985.1 3,379.4 13.2

Yemen 1.6 1.5 -7.2 113.3 91.9 -18.8

Total Near and Middle East 4,681.9 5,641.19 20.5 14,846.8 16,791.2 16.6* preliminary results, ** figures for Jan. - Sept. only, Source: Federal Statistical Office of Germany

Trade between the Federal Republic of Germany and the countries of the Near and Middle East.

January - June 2010* (in Mio. Euro)

nuclear cooperation agreement withRussia. Due to its prevailing peak-loaddemand, nuclear however does notseem to be the most appropriate option.

Kuwait is also considering own nuclearprogram for power generation anddesalination purposes. In March 2009 itmoved to set up a national nuclear ener-gy commission in cooperation with theIAEA. Following this January’s agree-ment on developing nuclear cooperationand exchanging expertise between theFrench Atomic Energy Commission(CEA) and Kuwaiti Committee for thePeaceful Usage of Atomic Energy, theUnder-Secretary for foreign affairsKhalid Sulaiman Al Jarrallah signed anuclear cooperation agreement withFrance during his April visit to Paris.

Signals for reviving the regionalapproach were however given in March

this year when the GCC ForeignRelations Chairman Dr Mansoor AlArayedh called for the GCC to engagewith its neighbours in order to developsafe, secure and advanced nuclearenergy programmes based on a centralfeature - a “Gulfatom treaty”.

Closer contacts in this respect havebeen already developed with theEuropean Union - whose EuratomTreaty is seen as a model for the Gulf countries. On 8 June 2010, theEuropean Commission and the GCCwere holding a seminar in Riyadh onnuclear safety and security matters. Thisallowed for initial exchange of informa-tion and views between experts from theGulf and the EU, including the nationalregulatory authority from Romania. Italso provided the opportunity to discussthe potential for collaboration in thisimportant area.

Indeed, the EU had established in 2007a specific cooperation instrument forsupporting and enhancing nuclear safe-ty and security at global level. Throughthe Instrument for Nuclear SafetyCooperation (INSC), the Union currentlyprovides support in the value of around€80 million annually to some 15 coun-tries worldwide in the areas of nuclearsafety, radioactive waste management,nuclear safeguards and de-commission-ing of nuclear installations. The Euratom regime certainly providesthe structure necessary for establish-ment of a nuclear energy community,promoting nuclear safety, transparency,and effective verification measures on aregional basis. Future close cooperationwith the EU, in particular through theInstrument for Nuclear Safety Coope-ration, could bring the advantages andbenefits of this proven framework also tothe Gulf region.


AlgeriaEUR 230.8 bn Transport InfrastructureInvestment plan

The Algerian cabinet approved a five-yearinvestment plan of EUR 230.8 bn which isintended to upgrade and strengthen thecountry’s transport infrastructure. TheInvestment programme which will run from2010 to 2014 is expected to diversify theeconomy and, in particular, to reduceAlgeria’s dependency on hydrocarbons. Theinvestments will be allocated to alreadyexisting transport infrastructure which re-quire maintenance but also to new transportprojects, especially to new projects in the railsector. 6,500 km of new track are plannedto be laid connecting the expanding land andsea transports centres as well as variousindustrial production hubs in the country.Urban transport will also be subjected to amajor investment boost by constructing lightrail and tram systems in 14 Algerian cities.

AfghanistanDiscovery of a 6th oil field

In the north of Afghanistan, a new 1.8 bnbarrel oil field was found. It is located in theregion near the cities of Balkh, Shiberghanand Hairatan. The Mining Ministry announ-ced that geologists will be asked to gatherfurther information and elaborate a surveynext year. Therefore, the market price of thisnew finds can not be determined yet.However, a Ministry spokesman said the gov-ernment is willing to offer its estimated USD3 bn oil reserves, which are spread troughsix different fields, to international investors.This statement is congruent with the Minis-try’s effort dating back to last June when H.E.Minister Wahidullah Shahrani had talks withthe oil giants Total (France), ENI (Italy) andHeritage Oil (Canada). In the curse of theyear 2011, an Afghan-Tajik oil block with atotal volume of 1.6 bn barrel is estimated tobe launched. Besides the growing number ofdiscovered oil reserves, international miningcorporations increasingly focus on Afgha-nistan. They aim to exploit the rich copper,lithium, iron ore, gold and cobalt deposits.

BahrainReal GDP growth of over 70% over thepast decade

According to the Kingdom’s EconomicDevelopment Board (EDB), Bahrain’s econ-

omy grew steadily over the last ten yearswith a sustainable growth rate in real GDPof more than 6% each year resulting in anoverall real GDP growth of 70%. Besides theongoing growth in Bahrain’s real GDP, theKingdom can also record an export increaseof 116%, a growing employment rate whichrose by 39% with wages increasing by 54%.The forecast for the coming decade is com-parably good predicting sustainable growthwith an increase of four percent in 2010 and7.2% in 2015.

EgyptGlobal Environmental Facility approvesgrant of USD 100 m

The Global Environment Facility (GEF)approved a grant of USD 100 m to be givento the Egyptian electricity and energy sec-tor. The grant is intended to finance and sup-port a 100 MW solar power station in KomOmbo which is primarily funded by the WorldBank contributing USD 400 m and theAfrican Development Bank (ADB) contribut-ing USD 550 m. GEF is a partnershipbetween international institutions, NGO’sand the private sector aiming at supportingglobal environmental issues as well asnational sustainable development initiatives. In Egypt, solar power station projects withan overall voltage of 920 MW are beingplanned and actualized including a 200 MWwind farm in cooperation with Germany anda 220 MW wind farm with Japan.

Egypt and Germany – increased coopera-tion to boost small and medium industries

Germany & Egypt are about to enter a newphase of cooperation which includesincreased German investment in theEgyptian market and more joint projects inthe field of renewable energy. Egypt has alsosigned deals with Germany and Austria con-cerning the establishment of therapeuticcentres in tourism areas which will provide anew market for investment in Egypt. The vol-ume of trade exchange between Germanyand Egypt has increased significantly overthe past four years reaching EUR 3 bn andis expected to reach EUR 5 bn over the com-ing three years.

IranCarpet exports increase by 41%

Theran Times cites Iran’s Custom Adminis-tration saying that the exports of handmadecarpets have risen by 41% in the first four

month of the current Persian calendar year(started in March 2010) compared to lastyear. Now the exports reached 2440 tonsworth $151.05 million.

In recent times Iran’s hand-woven carpetshave come under fierce competition fromother countries producing fakes of the origi-nal Iranian designs as well as genuinecheaper substitutes. Therefore this growthgives reason for certain optimism. The direc-tor of Iran National Carpet Center FaisalMardasi hopes a further increase up to $500million by the end of the year writes TheranTimes.

IraqInvestment opportunities in oil refineriesat a cost of USD 23 m

In 2007, Iraq opened the crude oil refiningmarket to private investment, foreign orlocal, offering a 1% discount on the suppliedcrude. Last month, the discount wasincreased to 5% in order to attract moreinvestors which are needed to help buildingfour oil refineries at a cost of USD 23 bn.The four refineries are expected to have aprocessing capacity of 740,000 barrels a day(bpd) and will be exempted from state taxand government interference of oil prices. Inhope for increasing the output capacity fromthe current daily production of 2.4 m bpd to12 m bpd within the next seven years, dealswith various international oil companieshave already been sealed.

JordanSigning of ratification documents on Investment and Promotion Agreement

Ratification documents on the InvestmentPromotion and Protection Agreement wassigned between Germany and Jordan. Theagreement which was sealed between thetwo countries in 2007, will be put into forceone month after the signing of the docu-ments. Jordan’s Ambassador to Germanyemphasized the importance of the agree-ment which will further strengthen the eco-nomic cooperation and, in particular, willincrease investment opportunities betweenGermany and Jordan.

Jordan’s budget deficit decreased by 70%

According to the Jordan Ministry of Finance,the country’s budget deficit declined by 70%in the first half of the year 2010, going downfrom JD 530.1 m in 2009 to JD 175.1 m in

++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++ Projects ++ News ++


the current year. As has been stated in thereport of the Ministry of Finance, a signifi-cant drop in capital expenditure from JD617.6 m to JD 327.5 m is responsible for thereduction of the budget deficit. AdditionallyJordan’s domestic revenues rose to JD 2.26bn as compared to JD 2.19 bn in the sameperiod of the previous year. The country’sexcess reserves amount to USD 4.831 bn ashas been announced by the Central Bank ofJordan.

KuwaitUNCTAD: The Emirate is the region’s topinvestor

Due to Kuwait’s constant investment out-flows in 2008 and 2009 amounting to USD8.9 bn and 8.7 bn, respectively, the countryranks first among the region’s top FDIexporters followed by Saudi Arabia with USD6.5 bn, the latest UNCTAD World InvestmentReport points out. On contrary, the entireregional FDI outflow shot down by 39% toUSD 23 bn. Other important countriesreduced their foreign investment engage-ment and focused on domestic deals whichis why Kuwait improved its position, thereport is reasoning. Despite the financial cri-sis Kuwait managed to stabilise its inflow ofFDI in comparison to pre-crisis years. In2007, Kuwait received USD 116 m, a num-ber that collapsed in 2008 and recoveredlast year reaching USD 145 m. That isremarkable because the Near and MiddleEast’s regional trend is characterised by an24% downswing. Therefore, Kuwait is one ofthree Arab countries, beside Qatar andLebanon, which were able to record a posi-tive tendency.

LebanonReal GDP growth by 6% in 2010

According to the latest IMF forecast,Lebanon’s real GDP is expected to grow by6% showing that the country can maintain ahealthy pace of growth. During the first quar-ter of 2010, Lebanon’s export rate grew by12%, the real estate sector demonstrated astrong performance while capital inflows andfinancial aggregates stayed on a strong levelof growth as well. Inflows from remittancestowards Lebanon’s home economy byLebanese non-residents grew by 65% in thefirst quarter of 2010 with the balance of pay-ments reporting a record high surplus ofUSD 987 m. Lebanon’s short to mediumterm economic prospects were able to gainback confidence which had a beneficial influ-

ence on the domestic investment aggre-gates. FDI, tourism and exports rates wereall flourishing year-to-date.

LibyaLibya wants to strengthen its privateenterprises

The National Council for Economic andSocial Development has announced that theLibyan Loans Fund will provide nearly USD250 m to small and medium-seized enter-prises (SMEs), states a governmental quar-terly report on the financing of SMEs. Theloans aim at supporting and boosting the pri-vate economy. All in all, the Libyan LoansFund could finance about 2000 small busi-ness project. Furthermore it is estimated thatthe provided funds will help to create up to5,500 new jobs – special measures will betaken to make the capital available even forthe youth.

MoroccoTangier Free Zone ranked eight worldwide

According to the British magazine ForeignDirect Investment (FDI), the Tangier FreeZone is on rank eight in the global rankingof economic zones for 2010/2011. TheTangier Free Zone has recorded over DH 6bn FDIs since its establishment and wasalso ranked second as best port zone, thirdas best airport zone and eighth in the cate-gory of best facility. The judge criteria wereeconomic potential, cost effectiveness,incentives, facilities, transportation, FDI pro-motional strategy as well as port and airportcapacities.

Morocco inaugurates the largest windpower park in Africa

Being part of the Moroccan integrated windenergy programme worth USD 3.5 bn, theTangier wind energy park “Dahr Saadane”which was build at a cost of USD 317.5 mincludes 165 wind turbines, 165 supportstruts, and 4 meteorological stations and willchip in 2.5% of the Moroccan domesticdemand for energy. The new wind energypark which will be build under the pro-gramme, will raise the wind-based installedelectric power from a current 280 MW to2,000 MW by 2020. The programme togeth-er with the solar energy project will allowMorocco to drastically reduce its energyimports saving 2.5 m tons of oil and antici-pating the emission of 9 mcarbon dioxideannually. According to a Moroccan official,

the stations powered by renewable energywill represent 42% of the overall installedelectric capacity by 2020.

OmanCommodities record 45% increase

The commodities exports recorded a signifi-cant increase of 45.2% during January andFebruary 2010 as compared to the sameperiod in the previous year. The Ministry ofNational Economy announced that the grossvalue of commodities exports in February2010 reached RO 1,273.5 m in contrast toRO 1496,6 m in February 2009. Due toOman’s expansion in crude oil exports by87.6 % and refined oil exports by 25%, theperiod of 2010 was subject to a rise in oiland gas exports reaching RO 1554 m, anincrease of 60,6%. The increase in the nonoil exports is predominantly due to the strongperformance of chemical industries products(140.9 %), rubber (92.6%), live animals(2.4%) metals and their fabrications (1.4%).

Crude oil production rose by 8.8%

Oman’s crude oil production reached 129.8million barrel in the first five months of 2010as compared to 119.3 million barrel in 2009representing an increase of 8.8%. During theperiod the average daily oil production roseby 8.8% up to 859.400 bpd with the averageoil price increasing by 70.2% from USD 44.84in 2009 to USD 76.34 in 2010. Oil exports alsorecorded a significant increase from 97.8million barrels in 2009 to 112.6 million bar-rels in 2010. The natural gas productionincreased as well during the first five monthsof 2010 reaching 470.644 million cubic feetwhich is an increase of 6.1% in comparisonto 443.423 million cubic feet in 2009.

PakistanExports increased by 3.1% to USD 19.383 bn

Pakistan’s export target of USD 18.8 bn forthe financial year 2009/2010 has been out-ranged by 3.1% reaching a historic figure ofUSD 19.383 bn, a slightly higher result thanthe record achieved in the fiscal year2007/2008 which amounted to USD 19.1 bn.According to the Federal Bureau ofStatistics, the country’s export grew by 9.6% between July 2009 and June 2010 ascompared to the same period in the fiscalyear of 2008/2009. Another positive devel-opment can be observed in the decline ofthe trade deficit from USD 17.13 bn in 2009to USD 15.33 bn in 2010.




QatarUSD 30 bn on energy and industry pro-jects by 2014

According to Qatar National Bank, the coun-try plans on spending USD 30 bn on energyand industry projects by 2014. State-ownedQatar Petroleum has budgeted QR 37 bn forgas projects, QR 24.5 bn for industrial projects and QR 24 bn for oil projects. Plansare to launch two new liquefaction plantswhich are supposed to increase Qatar’sannual LNG production capacity to 77 million metric tonnes from 54.3 million by theend of this year. Qatar’s oil production isalso to undergo a boost expected to resultin an increased production of 889,000 b/dfrom current 798,000 b/d.

Saudi ArabiaThe largest foreign direct investmentrecipient in the region

According to the World Investment Report(WIR) of the UN Conference on Trade andDevelopment (UNCTAD), Saudi Arabia luredUSD 36 bn in foreign investment last yearresulting in the country being ranked eightamong the world wide top ten recipients offoreign direct investment (FDI) in 2009.Being the Arab world’s largest economy,Saudi Arabia attracted the largest amount ofFDI as compared to other countries in theMiddle East region. The UN report whichcovers 192 countries, ranked Saudi Arabia14th in its WIR of the previous year. The for-eign direct investments were used to boostsectors such as real estate, infrastructure,financial service, mining, oil and gas explo-ration, telecommunication, transportationand the like.

USD 40 bn to be spend on SmartConstruction

During the next eight years Saudi Arabia isexpected to spend an estimated amount ofUSD 40 bn on smart construction, matchingthe building owners demand for the newtechnology. The increasing appeal is a resultof various efforts to strengthen the publicawareness for environmental issues.

According to recent studies the new buildingtype helps to save 30% on energy consump-tion, to reduce 50% of dioxide emissions, tocut down 50% on water consumption and,even further, to reduce 90% of the waste pro-duction, as compared to ordinary buildings.Saudi Build and Saudi Tech, two trade fairswhich are being held in October, will offerdirect access to a wide range of smart build-ing solutions provided by numerous exhibit-ing companies from Europe, Asia and theMiddle East.

SyriaSyria reports a 63% tourist increase

According to the Syrian Tourism Ministry, thecountry witnessed a 63% increase in thenumber of visiting tourists during the first sixmonths of 2010. 3.9 million tourists wereregistered including Arab and internationaltourist with numbers amounting to 2,119,000and 1,107,000, respectively, as well asSyrians who live abroad reaching an amountof 700,000. The largest group consisting ofone million visitors came from the GulfRegion. The increasing number of touristsvisiting Syria is also due to the cancellationof visa requirements with Turkey and Iran.

TunisiaTunisia’s foreign trade rates increase by31.1%

According to the Export Promotion Centre(CEPEX), in the first half of 2010, Tunisianexport amounted to TND 11,348.6 bn(approx. EUR 5.9 bn) and imports added upto TND 15,791.8 bn (approx. EUR 8.3 bn)which is an increase of 31.1%. The growingmechanical and electrical industries’ sectorholding 34.5% of the total Tunisian export ispartly responsible for the positive overallexport rate. With a share of 22.3%, the tex-tile and clothing sector was also a main con-tributor of the good mid term results.Tunisia’s export to the European Union, itscurrently largest customer, increased by18.32%.

TurkeyTurkey signs pipeline deal with Iran

Turkey has signed a USD 1.3 bn pipelinedeal with Iran. According to Som Petrol -Turkey’s largest energy company, the dealwith the Iranian National Gas Companyincludes a 660 km gas pipeline. The gas

pipeline is to be completed by 2014 and willprovide Iran with an opportunity to export itsnatural gas to Europe. The pipeline will allowIran to export between 50 and 60 millioncubic meters of gas per day which will pro-vide for gas delivery to Europe via Turkey inexchange of a transit fee.

Unemployment rate in Q2 lowest sincethe crisis

Turkey’s number of jobless was down byabout half a million people to 2.85 million inthe three month through June. According toTurkStat it fell from 12% to 11%. Youthunemployment slowed down to 19.8% from24.9% in the same period. The rate is thelowest since the global financial crisis.Economic recovery is also visible in thegrowth of the GDP which grew by 11.7% inthe first quarter of the year exceeding expec-tations for growth to double Ankara's year-end target of 3.5 percent.

UAEDubai trade witnesses 16% growth in thefirst five month of 2010

A statistic which has been put together byDubai Customs indicated a growth by 16%in the non oil sector. Trade between Dubaiand its international trade partners amount-ed to AED 228 bn between January and May2010 as compared to AED 197 bn in the pre-vious year. Over the past five years, directexport operations recorded the highestincrease with AED 26.7 bn representing 43%growth as compared to AED 18.7 bn in theprevious year. The total weight of goodswhich are being exported rose by 25% incontrast to 2009.

YemenIMF approved USD 368 m loan for Yemen

The IMF loan was granted in order to sup-port Yemen’s broader medium-term strategyaiming at restructuring its public finance sec-tor, increasing the social spending andboosting the country’s growth in general.Yemen has intentions to stimulate non-hydrocarbon economic growth and addition-ally, the country will implement tax policyreforms which eliminate most income taxand customs exemptions. Furthermore, thecountry plans on cutting its comparably highfuel subsidises. The loan arrangement un-der the IMF’s Extended Credit Facility is scheduled to be carried out for the standardduration of three years.

Projects QR BillionCrude Oil 24.0Natural Gas 37.0GTL & Refining 14. 8Petrochemicals 11.4Industrial Cities and Others 24.5Total 111.7

28

News in Brief


PraxishandbuchInternationale Geschäfte

The book Praxis-handbuch In-

ternationale Ge-schäfte is, asthe title promises,a practically ori-ented guide which

provides advice for all stages of businesswith foreign partners. Consequently, thebook is written chronologically. It beginswith the proper choice of a market andcontinues by emphasizing the importanceof intercultural skills, adaption, risk man-agement, liability and currency hedging.Next, the volume introduces the basis ofcontractual arrangement and the concern-ing laws, financing, payment transactionand customs duty as well as protectionagainst copyright piracy.

Bundesanzeiger Verlagsgesellschaf mbHAmsterdamer Straße 19250735 KölnTel.: +49 (0) 2 21 9 76 68 -200Fax: +49 (0) 2 21 9 76 68 -115Email: [email protected]

Zolltipps Kuwait

The volume Zoll-tipps concerns

Kuwait’s import policiesi.e. import regulations,tariffs and other char-ges, accompanyingdocuments, bans onimports as well as

technical standards and labeling rules.Even the function and impact of EU’s so-called harmonized system is explained.Additionally, the 60 pages inform thereader about how to write invoices. Atlast, necessary contact addresses ofimportant German and Kuwaiti trade insti-tutions are given.

Germany Trade and InvestAgrippastraße 87-93, 50676 KölnPhone: 49 (0) 221 2057-0Fax: 49 (0) 221 2057-212Email: [email protected]: www.gtai.de

ATA Carnet in the GCC

By the end of 2010, the UAE will be thefirst GCC state to implement the ATACarnet system. By allowing the tempo-rary admission of merchandise andgoods with a single document it facili-tates custom formalities and saves timeand money. It is valid for goods concern-ing trade fairs, exhibitions and cultureand sports events. This “MerchandisePassport” allows the temporary entry ofgoods without the need of raising bond,taxes and customs duties, provided thegoods are totally re-exported from thecountries of visit. Marketing representa-tives, exhibition participants and busi-ness travellers are allowed to enter thecountry along with their goods and touse a temporary entrance card severaltimes. The Carnet is valid for one yearand will be issued by the DubaiChamber of Commerce and Industry.

Kuwait Lab and TechnologyConference and Exhibition

From 30th November to 1st December2010, the Kuwait Lab TechnologyConference and Exhibition 2010 will takeplace for the second time this year. Withits launch having been in 2009, the con-ference and exhibition for the laboratoryindustry will, again, represent a vast vari-ety of items relating to science and tech-nology used in medical and non-medicallaboratories.

The Kuwait Lab Technology Conferenceand Exhibition is mainly designed toattract and provide scientists, labora-tory managers and technicians and others who deal with analytical labora-tory operations as well as a good rangeof sectors such as health and medicine,life science and biotechnology, oil andgas, metal and plastics, defence andelectrical and electronics to name aview.

News in brief

Exchange ratesCountry ISO-Code Currency Exchange Rate in EurosAfghanistan AFN Afghani 1.75Algeria DZD Algerian Dinar 1.05Bahrain BHD Bahraini Dinar 209.00Egypt EGP Egyptian Pound 13.83Iran IRR Iranian Rial 0.008Iraq IQD Iraqi Dinar 0.07Israel ILS New Israeli Shekel 20.75Jordan JOD Jordanian Dinar 111.36Kuwait KWD Kuwaiti Dinar 273.26Lebanon LBP Lebanese Pound 0.052Libya LYD Libyan Dinar 61.29Morocco MAD Moroccan Dirham 9.07Oman OMR Omani Rial 204.66Pakistan PKR Pakistan Rupee 0.92Qatar QAR Qatari Rial 21.65Saudi Arabia SAR Saudi Rial 21.01Syria SYP Syrian Pound 1.68Tunisia TND Tunisian Dinar 53.05Turkey TRY New Turkish Lira 52U.A.E AED Emirati Dirham 21.45Yemen YER Yemeni Rial 0.33

Exchange rates reported by Commerzbank AG - Frankfurt (No liability assumed). Each rate is valid for 100 currency units.

Last update: August, 2010

Financing exports and foreign investments / NUMOV invites Young Diplomats


On Monday 5th

July 2010,NUMOV and theGerman Orient-Institute (DOI) helda reception in Berlinfor two groups of 33young professionaldiplomats. One grouprepresenting sever-al countries of theMiddle East regionand North Africawas headed by H.E. Folkmar W.O.Stoecker, Ambassador (ret.), ProgrammeDirector (NMO) International Training forDiplomats at the federal foreign office,the other group, consisting of represen-tatives from Iraq, was lead by H.E. Dr.Peter Schmidt, Ambassador (ret.)Programme Director (Iraq) InternationalTraining for Diplomats. The young diplo-mats were participants of the five weekprogramme ‘Training for InternationalDiplomats’ proceeding from 28th June to30th July 2010, offered by the GermanForeign Service Academy. Establishedin 1992, the programme extended itsrange of corresponding countries andregions annually, including the MiddleEast and North Africa in 2002. The ever

increasing need for professionally basedcooperation between Germany and thecountries of the Middle East were rea-son for the iniative. Insights into politics,economics and sciences as well as intothe work and functionality of internatio-nal organisations and think tanks weredelivered to the course participants byexperts of the respective fields.

Interactive occupational training such asrhetoric, preparation of diplomaticreports and negotiation techniques, werealso part of the programme. Besidesexpanding the range of skills and know-ledge of the participating young diplo-mats, several trips to various Germanand European cities and political as well

as cultural places ofinterest are includedin the tight schedu-le. Besides visitingNATO and EU insti-tutions in Brusselsand governmentalinstitutions in Berlin,this year’s group willalso pay visits toDresden andStuttgart. Since cul-tural and personal

dialogue and encounter is aspired by theGerman Foreign Service Academy, theinvitation by NUMOV and the DOI wasappreciated and deployed by both par-ties. The evening reception provided anopportunity to establish personal contactbetween the groups of young diplomatsand the members of NUMOV. The invi-tation was in line with the GermanForeign Services Academy’s goal of pro-moting German hospitality and, respec-tively, with the intention to present theactivities taking place in and the oppor-tunities offered by Iraq and the countriesof the Middle East and North Africa.Framed by motivated engagement andpositive discussions, the evening for theyoung diplomats was a full success.

Financing exports and foreign investments

On 24th June 2010 the GermanFederal Ministry of Economics and

Technology hold a seminar about thevarious opportunities for companies andinvestment groups to ensurethemselves against export andinvestment losses.

The conference was held incooperation with the well-knownGerman Euler Hermes company.The participants of the confer-ence, all in all more than 280business men and women, min-istry officials, politicians as wellas lawyers, had the possibility tojoin six different groups. In everysingle group particular aspectsof state-guaranteed in-surances wereintroduced and discussed. In workshopIV which pointed out the latest trends andfurther developments in financial security

and foreign investments, Helene Rang,CEO of NUMOV, together with RolfGrunwald, German Invest- ment andDevelopment Corpora-tion, Elmar Prost,

Klöster Holding Company, Dr. EberhardtGoerke, MIB METRO Group, andMatthias Döhrn, Siemens FinancialService, were the panel members being

experts in that topic. The Head ofDivision for Foreign InvestmentsJoachim Steffens, Federal Ministry ofEconomics and Technology, moderated

the discussion. Helene Rangespecially strengthened thatthe Arab countries offer a lotof opportunities for Germancorporations interested indoing business in that veryregion. A friendly climate forinvestment and exporttherefore secures the posi-tive economic developmentin future in the Near andMiddle East and inGermany. Not least, EulerHermes, tasked in particular

to facilitate exports and investmentsabroad, ensured that the financial crisishad no considerable or damaging impacton German firms, she claimed.

NUMOV invites Young Diplomats

f.l.t.r.: Rainer Wietstock, PricewaterhouseCoopers; Elmar Prost, Klöster Holding; RolfGrunwald, German Investment and Development Corporation; Joachim Steffens, FederalMinistry of Economics and Technology; Dr. Eberhardt Goerke, Metro Group; MatthiasDöhrn, Siemens Financial Service; Helene Rang, NUMOV and Sebastian Sons, DOI

Participant of the evening infront of the NUMOV office

30

business page for our member firms. Size: 40 x 50 mm. To cover costs, 60 EURO plus VATwill be charged per depiction and per issue for three consecutive editions.

Jörg SeifertRechtsanwälte - Advocate

Beratung und rechtliche Umsetzung vonInvestitionsvorhaben in den

Vereinigten Arabischen Emiraten

P.O. Box 8867, Dubai, VAETel.: 00971-4-2628 222Fax: 00971-4-2628 111www. dubai-lawyer.com

[email protected]

Mangal Transport & Shipping GmbHYour international forwarder for shipments to and from

Afghanistan, Turkmenistan, Iran, UAE, Central Asia, theCIS countries, China, USA and all countries

of the Near and Middle East.Billstr. 33, 20539 Hamburg / Germany

Tel: +49 40 81978530, Fax: +49 40 81978355E-mail: [email protected]

www.mtsonline.de

Business page

MAZDA-SOLAR Waterline GmbHManufacturer, exporter and expert planner

• Solar Pool Heating Systems with all accessories• Solar Pre-Heating Systems with Absorbers up to 6bar• Thermosyphon systems and Solar Boiler for domestic

water• Root-Zone heating and greenhouse solar heating

systems• Rubber-Heat-Exchangers for cooling or heating tanks• Ice rink – Area for ice skating – Cooling buildings

D-63839 Kleinwallstadt, Ringstr. 2a, Tel.: 0049 (0) 6022 / 204041 – Fax: 0049 (0) 6022 / 204218

[email protected] – www.mazda-solar.com

Fax: +92 - 523557024E-Mail: [email protected]: www.metalx.bizMetalX International offers you a wide range ofprofessional instruments to set highest standardsof quality and reliability: Surgical and dentalinstruments, holloware, manicure items (scis-sors, etc.). The business serves professionalswho demand the best quality implements atabsolutely competitive prices. Products areshipped after quality control inspection withrequired parameters.

ROOMAIF International Pvt LtdContact: Ahmad2/57 - B, Abbot Road51310 Sialkot, PakistanTelephone: +92 - 524 580211Fax: +92 - 524 583064E-Mail: [email protected]: www.roomaif.comThe company is a manufacturer and exporter ofsports goods martial arts, boxing equipment,sports shoes, and footballs. They are workingwith many European and American brands.ROOMAIF’s products fulfill EU quality standard.

Fawaz NehlawiContact: M. Fawaz NehlawiP.O. Box 4181Damascus, SyriaTelephone: +963 - 11 334 7123Fax: +963 - 11 332 1235E-Mail: [email protected] Nehlawi is a manufacturer and exporterof jackets and uniforms such as coveralls, over-alls, security uniforms, hospital uniforms, indus-trial uniforms, promotional uniforms, shirts, poloshirts, T-shirts, pants, trousers, aprons, etc..They have their own designing unit and can pro-

G.N. Dental InstrumentsContact: Muhallah Darbar ShareefPacca Garha P.O Kotli BehramSialkot, PakistanTelephone: +92 - 52-810889Fax: +92 - 52-4290776E-Mail: [email protected]: www.gnsupplies.comDental Instruments is an ISO 9001-2000 GMP &CE certified company producing high quality sur-gical and dental instruments. The enterprise isspecialized in Instruments according to cus-tomer's demand, models, packing and logo. Theirproduct range includes: Amalgam Carriers,Cotton Tweezers, Crown Instruments, DentalImpression Trays, Dental Scalers, Syringes, GumScissors, Pliers, Root Elevators.

Ahmed Farouk Ahmed MarzoukContact: Karim M Karim21 El Sayed Zakaria St11361 Cairo, EgyptTelephone: +20 - 22666313Fax: +20 - 22666315E-Mail: [email protected] Farouk Ahmed Marzouk’s interest is infood import, retail and distribution. They importfrozen meat from Brazil, and like to import frozenmeat from Germany.

Petra RoseContact: Hany ShoukryEl Hezb El Watany Buildings, No 103 Flat 501Port Fouad, Port Said, Egypt

Telephone: +20 - 66 3411603E-Mail: [email protected] Petra Rose is working in handmade(loom) bed sheets & coverlets 100% Egyptiancotton and 100% natural silk and cover tablesmade of cotton and also linen. There are alsobed sheets and coverlets 50% linen and 50% cot-ton or according to your request.

S.R. Ahmadi3, Soheyl St.Teheran, IranTelephone: +98 - 912 426 7566E-Mail: [email protected]. Ahmadi wants to import coining machine,specially for coining gold (1000 coins per day).

Chiropak InstrumentsContact: Raheel ArshadAttari, Mori Gate51310 Sialkot, PakistanTelephone: +92 - 300 7143960E-Mail: [email protected] Firm is a manufacturer and exporter of allkinds of Manicure, Pedicure Instruments i.e.Cuticle Nippers, Nail Nippers, Ingrown Nippers,Cuticle Scissors, Cuticle Arrow Point Scissors,Nail Scissors, Combi Scissors, Ear/NoseScissors, Baby Scissors and a wider range ofHairdressing Scissors, Nail Files, Foot Files,Callous Raspels, Corn Cutters, PluckingTweezers, Manicure and Pedicure Sets.Chiropak Instruments is looking for importers anddistributors of these articles.

Metalx InternationalContact: Muzamil AhmedHakima Wali #1/163, Mubarik Pura51310 Sialkot, PakistanTelephone: +92 - 3336121100

Business enquiriesfrom the Near and Middle East


Services for NUMOV members:

Business enquiries / Services

duce any kind of uniform according to buyersspecification and with the customer's logo.

Demiral Trikotaj Ltd.Contact: Orhan DemiralÇevreyolu cad. 34160 Istanbul, TurkeyTelephone: +90 - 212-5447791Fax: +90 - 212-6138565E-Mail: [email protected] firm Demiral Trikotaj is a producer ofPullovers in Istanbul. Nearly 100.000 pieces ofclothing could be manufactured every month.

Yavuzlar Textile LLCContact: Yusuf YavuzTerazidere Mah., Gunes Cad. No: 15Istanbul, TurkeyTelephone: +90 - 535 8815802E-Mail: [email protected]: www.yavuzlartextile.comMattress covers, waterproof mattress protectors,bed linen, bed sheets, towels, curtains, home tex-tiles, hotel textiles, hospital textiles are the prod-ucts Yavuzlar Textile offers.

Ege Basim ve Reklam San.Ltd.StiContact: Fatih GökmenZiyapasa Caddesi No. 4, Atasehir34704 Istanbul, TurkeyTelephone: +90 - 216 470 44 70Fax: +91 - 216 472 84 05E-Mail: [email protected]: www.egebasim.com.trThe company is equipped with HeidelbergSpeedmaster (2008) and wants to produce print-ing products as well as DVDs and CDs.

CONFERENCE -Saudi-German Conference on Solar Industry

� Research in Solar Valley Mitteldeutschland -Fraunhofer CSP in Saxony-Anhalt, Dr.Christian Hagendorf, Fraunhofer Center forSilicon Photovoltaics CSP

� Renewable Energies in Germany, SylviaHamm, Energiepark-Führungen

� Welcome to Saxony-Anhalt – The GermanState of Renewable Energy, Dorrit Koebcke-Friedrich, Investment and MarketingCorporation Saxony-Anhalt mbH

� Renewable Energies - Renewable EnergiesExport Initiative, Annika Strate, FederalMinistry of Economics and Technology

� The Path to Solar Industry in Saudi Arabia,Ulrich Dill, National Industrial ClusterDevelopment Program

� Potential Solar Application and ResearchActivities in Saudi Arabia, Prof. Dr.Abdulrahman M. Alamoud, King SaudUniversity Riyadh, Saudi Arabia

Reply to: FAX 0049 (0)30 206410-10We request that the indicated documents be sentto us:

Our membership number:

Member / Address:


Naturka Organik Gida Tekstil Insaat TurizmSan. Ve Tic. Lti.Sti.Contact: Hasan CandanKarsiyaka Mah., 929. Sokak No:4 / B52200 Ordu, TurkeyTelephone: +90 - 452 2256516Fax: +90 - 452 2256517E-Mail: [email protected]: www.grunn.com.trThe business Naturka Organik Gida Tekstil Insaatis producing organic hazelnut puree with grapemolasse.

Lazer AluminyumContact: Suha AkyuzKarpuzlu Sok. No: 97, SitelerAnkara, TurkeyTelephone: +90 - 312 3514009Fax: +90 - 312 3511740E-Mail: [email protected]: www.lazeraluminyum.comLazer Aluminyum is a Manufacturer of aluminiumbuilding elements, curtain wall installations, etc.

Biopharma SAP.O.Box 113891Dubai, United Arab EmiratesTelephone: +971 - 4 2840426Fax: +971 - 4 2840427E-Mail: [email protected] firm is a specialist in marketing and distribu-tion of pharmaceutical products and medicaldevices with high achievement. Biopharma has ahighly educated professional team to easylyachieve the target in United Arab Emirates. Theyare extending their business to cover most of theGulf area.

Important information available onrequest:

Personalities in the Countries of the

G ulf Cooperation Council

Publisher:

Deutsches Orient-Institut German Orient-Institute

Jägerstr. 63 D, D-10117 Berlin

� +49 (0)30 206410-21FAX: +49 (0)30 20641010

[email protected]

www.deutsches-orient-institut.de

● 195 € inc. VAT plus 7 Euro postage and handling per copy

● 98 € inc. VAT per copy for NUMOV members

To order: Contact Fax: +49 (0)30 – 20641010 Email: [email protected]

New

32

NUMOV

APPLICATION FORM FOR MEMBERSHIPNUMOV / German Near and Middle East Association

I hereby apply for membership to the German Near and Middle East AssociationCompany/Organisation:Address:Telephone No./Fax: Email: Internet:Legal form: Number of employees: Annual sales Date of establishment:Proprietor/Managing Director/Board Member:Principal contact: Position: Direct phone No:Address for invoice:Field of business activity:

Near and Middle Eastern companies: We are particularly interested in the follwing services� Identifying potential clients and business partners � Establishing business contacts � Consulting on business development� Help with organising business events � Establishing contacts to competent authorities � Participating in or visiting trade fairs� Visiting business and industrial sites � Assistance at business meetings through interpreting and co-attendance � All services which are availableEuropean companies: We are particularly interested in the following countries� Afghanistan � Azerbaijan � Bahrain � Cyprus � Egypt � Iran � Iraq � Israel � Jordan � Kazakhstan � Kuwait � Kyrgyzstan� Lebanon � Maghreb � Oman � Pakistan � Palestinian Territories � Qatar � Saudi Arabia � Syria � Tajikistan � Turkey� Turkmenistan � Usbekistan � UAE / United Arab Emirates � Yemen � All countries of the Near and Middle East

Membership fee per year: Euro *)*) You are kindly requested to classify your company under one of the following membership fees. Euro 1,000 for medium sized companies with up to 50 employees, Euro 1,900 for companies with up to 100 employees,Euro 2,600 for companies with more than 100 employees. A list of membership fee regulations is available on request. The German Near and Middle East Association is a non-profit-making organisation. Court of jurisdiction is Berlin, Germany.

Location, Date Signature(s) (Name)

Information♦ Market information on the region and on individual business

sectors, general information regarding economic develop-ment and economic support

♦ Up-to-date monthly information, including informationenquiries from the region, as well as current employmentoffers and applications

♦ Up-to-date information about North Africa and Middle East Initiatives of the German economy (heads of all impor-tant German organisations with a relationship to the Nearand Middle East, such as the Head of the Association ofGerman Chambers of Industry and Commerce, the Headof the Federation of German Industries, the Head of ourNear and Middle East Association)

♦ HOTLINE - if the need arises, relevant information,obtained from the Near and Middle East region

♦ List of members

Consultation / Advisory Services♦ Well-founded, individual counselling and up-to-date

information♦ Initiation of international contacts♦ Selection and evaluation of suitable cooperation

partners ♦ Market entry, market build-up and risk assessment♦ Advice on basic economic conditions as well as

on export and import promotion

Representation of Interests♦ At economic events and in negotiations with government

institutions in Germany and the regionInvitations♦ To delegation trips to the Near and Middle East region♦ To meetings with foreign delegations in Germany ♦ To regular country committee meetings and to meetings

for the exchange of experiences between German com-pany representatives in the region

♦ To an annual meeting with all Ambassadors of the region ♦ To the annual General Meeting ♦ To the annual German Near and Middle East Gala EventOrganisation in Germany and the Region of the Nearand Middle East♦ Selection of specialists for projects ♦ Providing contact opportunities and arranging exhibitions

and conferences♦ Lectures by high-ranking personalities♦ Special one-day conferences / fairs / conventions ♦ Seminars, training, educationCooperation♦ With all important foreign trade-oriented partner

organisations, Chambers of Commerce, Associations, Embassies, Consulates, the Ministry of Economics andTechnology, the Com mission of the European Union andscientific institutions

NUMOV - SERVICES FOR THE CORPORATE MEMBERS OF OUR NON-PROFIT ORGANISATION:


Introducing a NUMOV member

Introducing a NUMOV member


34

Imprint / Board

WIRTSCHAFTSFORUMNAH- UND MITTELOST©Published by: Nah- und Mittelost-Verein e.V.Jägerstr. 63 A / D, D-10117 Berlin� (+49) 030 - 206410-0� (+49) 030 - 206410-10

Publishing Director /Chief Editor:Helene Rang

Deputy Chief Editor:Abdurrahim Güleç

Head of Editorial Office:Alexander Rieper

5th EditionSeptember / October 2010bi-monthly

Editorial team:Florian Endres, Peter Dingens, May Elmahdi, Ghassen Guiga, Usamah Hammoudeh, Susen Hollmig, Qais Hourani, Dr. Klaus-Dieter von Horn,Christoph Karge, Alina Mambrey,Sebastian Perdelwitz, Ludwig Schulz,Elisabeth Seefried, Müzehher Selçuk,Sebastian Sons, Karl Heinz Wittek,Verena Wais

Further assistance:Cornelia Harder, Ahmad Nosrati, Heidrun Westphal

Layout / Technical services: Hui Pieng Lie

Printing: Brandenburgische Universitätsdruckerei und Verlagsgesellschaft mbH, Potsdam

Exchange rates: Commerzbank AG

For their support for this edition, we would particularly like to thank:Beluga Group Bilfinger Berger AGDB InternationalEurop e Arab Bank plcFerrostaal Industrieanlagen GmbHHochtief Facility Management GmbHLatham & Watkins LLPVerbundnetz Gas AGWestfracht Spezialverkehre International GmbHWintershall Holding AG

All published contributions are pro tected bycopyright. Reproduction or duplication(including extracts) only permitted with theexplicit permission of the German Near andMiddle East Association, Berlin. The pub-lisher accepts no liability for the com -pleteness or factual accuracy of indi vidualcontributions and any claims or damagespotentially resulting from these.

Imprint Board of NUMOVBOARD MEMBERS

Martin BachmannMember of the Board of ExecutiveDirectors of Wintershall Holding AG

Erik BettermannChairman Deutsche Welle

Jürgen ChrobogChairman of the BoardBMW Stiftung Herbert QuandtSecretary of State (ret.)

Burkhard DahmenMember of the BoardSMS Siemag AG

Klaus EberhardtChairman of the Board,Rheinmetall AG

Dr. Bernd EisenblätterManaging DirectorGTZ, Gesellschaft für Technische Zusammenarbeit

Joachim EnenkelChairman of the BoardBilfinger Berger Ing.Bau GmbH

Dieter ErnstChairman of the BoardBerlinwasser International AG

Jürgen FitschenMember of the Management Board Deutsche Bank AG

Michael Glos, MdBFormer Federal German Minister ofEconomics and TechnologyMember of the Federal GermanParliament

Marc HallManaging Director Bayerngas GmbH

Joachim Hörster, MdBMember of the Federal GermanParliament

Advisory Board of NUMOVMichael BackfischHead of Near and Middle East Handelsblatt

Peter DingensAmbassador (ret.)Federal Foreign Office

Rudolf Dreßler Ambassador (ret.)Federal Foreign Office

Thomas Ellerbeck Director Communications andPolitics of Vodafone D2 GmbH

Dr. Henryk Frystacki Siemens AG (ret.)

Dr. Peter Göpfrich Delegate of German Industry and Commerce in Dubai

Wilfried H. Graf Arab Bank AG (ret.)

Dr. Gabriela Guellil Federal Foreign Office

Dr. Jürgen Hellner Ambassador (ret.) Federal Foreign Office

Dr. Herbert HonsowitzAmbassador (ret.) Federal Foreign Office

Marc Landau Executive Director Deutsch-TürkischeIndustrie- und Handelskammer

Dr. Michael Lüders Michael Lüders NahostberatungDep. Chairman of German Orient-Foundation

Dr. Gunter MulackAmbassador (ret.)Director of the German Orient-Institute

Bernd MützelburgAmbassador (ret.)Federal Foreign Office

Dr. Jürgen K. NehlsGiesecke & Devrient GmbH (ret.)

Dietmar Ossenberg Head of ZDF Editing Office Foreign Politics

Michael PfeifferManaging DirectorGermany Trade and Invest

Bernhard von der Planitz Ambassador (ret.)Federal Foreign Office

Klaus RollenhagenManaging Director of Verband Beratender Ingenieure VBI

Andreas von StechowAmbassador (ret.) Federal Foreign Office

Dr. Reinhald Steck Ambassador (ret.)Federal Foreign Office

Folkmar W. O. StoeckerAmbassador (ret.), Programme Director (NMO)International Training for Diplomatsat the Federal Foreign Office

Knut Witschel Managing Director & Head of Near & Middle East/Africa,Deutsche Bank AG (ret.)

Karl Heinz Wittek Counsellor (ret.)Federal Foreign Office


Elke Hoff, MdBMember of the Federal GermanParliament

Dr. Peter A. KaemmererMember of the Executive BoardLandesbank Baden-Württemberg

Michael LudwigMember of the Executive BoardVerbundnetz Gas AG

Martin MarsmannHead of International Business,UniCredit Bank AG

Hartmut MehdornChairman of the Board (ret.)Deutsche Bahn AG

Marc NeumannChairman of the Board of ManagingDirectors, Ferrostaal Industrieanlagen GmbH

Jürgen SanderManaging DirectorVEM motors GmbH

Maria-Elisabeth SchaefflerProprietor, Ina-Holding Schaeffler KG

Paul SchockemöhleProprietor, Paul Schockemöhle Pferdehaltung GmbH

Werner SchoeltzkeProprietor, ENTRACON

Prof. Dr. Rainer SchwarzCEO, Berlin Airports

Dr. Jochen WeiseMember of the BoardE.ON Ruhrgas AG

Dr. Monika Wulf-MathiesFormer Member of theEuropean CommisionProprietor, wulf.mathies.consult

Honorary Member of the Board 1998 - 2005Hans-Jürgen Wischnewski †Federal Minister/Minister of State (ret.)

HONORARY CHAIRMAN

Dr. Gerhard Schröder

Former Chancellor of the FederalRepublic of Germany

CHAIRMAN

Martin Bay

Chairman of the Boardof Managing DirectorsDB InternationalGerman Railway Group

CEO AND DEP. CHAIRPERSON

Helene Rang

ProprietorHelene Rang & Partner

DEPUTY CHAIRMEN

Dr. Martin HerrenknechtChairman of the BoardHerrenknecht AG

Dr. Norbert KloppenburgMember of the BoardKfW Bankengruppe

Bernd RomanskiMember of the Management BoardHOCHTIEF Facility Management GmbH

Jens-Ove StierManaging Director, Winterstein Kontor GmbH

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