Abu Dhabi teams up with Mauritius to boost trade

The Abu Dhabi Chamber of Commerce and Industry has partnered with the Economic Development Board of Mauritius to boost economic and trade relations between the UAE and the island nation.

The pact aims to promote partnerships and share experiences and best trade practices between the businesses in the two countries.

It will also promote trade activities in both countries, exchange information on trade opportunities and investment potential, organise prospective business missions, study trips, commercial events, trade fairs, exhibitions, seminars and training sessions, the entities said in a joint statement on Monday.

Abu Dhabi seeks to deepen co-operation between Emirati businesses and others around the world, said Abdullah Mohammed Al Mazrouei, chairman of the Abu Dhabi Chamber.

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The chamber is forming strategic partnerships with many countries and international financial institutions “with the aim of developing economic and financial relations and enhance the position of Abu Dhabi on the world economic map”, Mr Al Mazrouei said.

The agreement was signed during a meeting held between Mr Al Mazrouei and Mauritius’s Minister of Finance and Economic Development Renganaden Padayachy at the Expo 2020 Dubai site.

During the meeting, both parties discussed co-operation between businesses in Abu Dhabi and Mauritius and explored the best means of increasing trade exchange.

The move will allow decision-makers in Abu Dhabi and Mauritius to develop economic and trading relations between businesses, they said.

Abu Dhabi Chamber aims to leverage the private sector by developing and organising commercial and trade activities in the UAE capital, thereby increasing the competitiveness of private companies and providing them with opportunities for sustainable development.

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara