Farhana Chowdhury ■

ConneCting eConomies

The theme for the inaugural CIS Global Business Forum is ‘Ancient Routes — New Opportunities’. The concept of a new Silk Road, tying the economies of China and Europe via Central Asia, Turkey and the Gulf might have taken a back seat, but business momentum is continuing and investments in infrastructure and logis-tics along the ancient trading routes are cutting costs and creating new business realities. Dubai is set in a very strategic location and has played a major role in building these linkages.

The Forum will feature sessions explor-ing opportunities on old trading links to neighbouring regions and beyond, as well as the new Eurasian Economic Union and other major topics including Islamic fi-nance, energy and sustainable future, the development of the North-South trans-port corridor, and the profitability of eco-nomic strategy.

engaging in thought-provoking disCussions

The main objective of the Forum is to give the various stakeholders the opportunity to explore how they can benefit from the emerging economic synergies of the CIS region and the Eurasian Economic Union (EEU) with a consumer base of 350 mil-lion, and the development of stronger ties with the GCC, while managing the mac-roeconomic challenges.

The Forum will be a platform to engage in thought-provoking discussions, one-on-one meetings and networking oppor-tunities. The CIS GBF also aims to chan-nel the energy, inspiration and dialogue that the Forum generates into serious business development; turning it into a place where tomorrow’s big deals are con-ceived and nurtured.

The Forum will include discussions on potential investments and updates on the CIS’ economic forecast and predicted changes in the economic landscape. There will also be discussions on how to develop the North-South transport corri-dor, logistics, oil and energy, Islamic economy and finance, and building the supply chain through this new Silk Road.

trading and investment route potential

We believe there is very strong potential for the GCC in developing the routes that run North-South from the Silk Road, and this Forum is an opportunity for the UAE and Gulf-based companies to explore the most promising markets of Central Asian countries. The sessions will highlight Dubai as a major driver in the shift to-wards real and sustainable economic partnership, which is of much interest to the business sector.

Dubai can be the bridgehead for the integration of Middle Eastern economies into China and Central Asia’s global sup-ply chain. Given its location, international connectivity, growing linkages to Africa, the quality and efficiency of its infrastruc-ture, Dubai is an ideal nodal point for trade between Asia and Africa.

The North-South Transport Corridor of this Silk Road, which links Dubai with the EEU and Russia offers immense trade and investment opportunities. For Cen-

Continuing with its successful Global Business Forum (GBF) series focusing on exploring new investment opportuni-

ties in emerging markets of the world, the Dubai Chamber of Commerce and Industry is organising the first Com-monwealth of Independent States Global Business Forum (CIS GBF 2016) entitled Commonwealth of In-dependent States: Ancient Routes — New Opportunities at Atlantis The Palm Hotel on February 17 and 18.

The two-day event, held under the patronage of His Highness Shaikh Mo-hammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, will bring to-gether a prominent delegate base of heads of states and governments, min-isters and dignitaries, leading global CEOs, heads of private banks, sovereign wealth funds, private equity firms and a multitude of global business leaders.

Held as part of the Global Business Forum series, organised by the Cham-ber since 2012 including the three ses-sions of the Africa Global Business Fo-rum, the CIS GBF will allow investors to hold one-to-one meetings as well as to sign joint investment agreements and to enter into bilateral business partnerships with companies from dif-ferent lucrative economic sectors.

Hamad Buamim, President and CEO, Dubai Chamber, stated that the Commonwealth of Independent States has been identified as a key market of great future potential and this forum in particular will explore the mutual busi-ness benefits that emerge from the re-gion’s changing economic synergies as Dubai businesses will have ample scope to utilise their expertise and competitiveness in trade, tourism, lo-gistics and financial services, which are the leading drivers of the emirate’s economic growth.

Buamim further added that the forum takes place at a time of global economic slowdown and falling oil prices, which will lead to creating new business reali-ties in various economic sectors, as well as ways to discuss enhancing of coop-eration to address these global chal-lenges faced by the business world in

light of the changing trade patterns af-fecting these markets.

“After the revival of the Silk Road ini-tiative that links China to Central Asia and the GCC countries, we believe that big opportunities for the Gulf region lie in reviving a Northern Corridor linking Dubai via Turkey, Azerbaijan to Russia, and the newly founded Eurasian Eco-nomic Union — a group of markets with around 350 million people that opens up a gate of opportunities for Dubai traders to benefit from these unexplored business arenas,” he said.

Buamim added that since its incep-tion 50 years ago, Dubai Chamber has always been on the lookout for lucrative markets for the emirate’s business com-munity, while seeking ways to build closer economic ties with their global counterparts, which happens to be the Commonwealth of Independent States businesses this time.

Dubai Chamber is collaborating with The Economist Intelligence Unit, the Britain-based Economist Group, in the development of the content of the forum, which will have an impressive line-up of prominent stakeholders en-gaging in dialogue at the highest level of implementation, advising on key strategic directives related to the CIS’s economic outlook, while managing the macroeconomic challenges, along-side thought-provoking discussions, one-on-one meetings and networking opportunities.

Channelling energy, inspiration and dialogue

The Global Business Forum is set to host one-to-one meetings with investors to enter bilateral business partnerships in the CIS region

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Mutual business benefits in changing economic synergies

hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry, shares his thoughts with Khaleej Times about Dubai as an epicentre of interest for shippers alongside the upcoming CIS Global Business Forum. Excerpts:

tral Asian countries, Dubai is in the epi-centre of interests for a growing number of shippers in Asia and Europe.

Secondly, port and storage capacity provides the shortest routes to South-east Asia, the African continent, India and beyond.

Looking at current economic and business-related issues, we will be fo-cusing on a diverse range of current top-ics such as supply chain logistics, the role of giant economies such as Russia and China, the EEU in diversifying the

experts to share insightsWe have a very interesting and diverse line up of speakers, with a wealth of knowledge and expertise to share.

Some of the key speakers include:

h.e. eng. suhail mohamed Faraj al mazrouei, ■ UAE Minister of Energyh.e. sultan ahmed Bin sulayem, ■ Chairman, DP Worlddr sahil Babayev, ■ Deputy Minister of Economy and Industry, Azerbaijanruslan alikhanov, ■ President, Argo Investment Company, RussiaJean-marc peterschmitt, ■ Managing Director for Countries of Operations and COO for Banking, EBRD, UKasset issekeshev, ■ Minister of Investments and Development, Kazakhstanh.e. kairat kelimbetov, ■ Governor, Astana International Financial Centre, Kazakhstanh.e. ahmad Belhoul, ■ Minister of State for Higher Education Affairs, UAEChristopher hopkinson, ■ First Deputy Chairman, Kazmunaygas, KazakhstanBarbara meynert, ■ Chair of Digital Economy Task Force, UNESCAP, Thailandnurlan kussainov, ■ Chief Executive Officer, Astana International Financial Centre Authority, Kazakhstanaidan karibzhanov, ■ General Director, Visor Holding, Kazakhstanmammad karimov, ■ Founder, Khazar Ventures, Azerbaijansamson pkhakadze, ■ President, Wissol Group, GeorgiaChris Weafer, ■ Founding Partner, Macro Advisoryyu Jianlong, ■ Secretary General, China Chamber of International Commerce, Chinataleh Ziyadov, ■ Director-General, Baku International Sea Trade Port, Azerbaijanghaith al ghaith, ■ Chief Executive Officer, flydubai, UAEgerald lawless, ■ Head of Tourism and Hospitality, Dubai Holding, UAEBakir izetbegovic, ■ Bosniak Member, Presidency of Bosnia and Herzegovinaprasad abraham, ■ Chief Executive Officer, Al Hilal Bank, Kazakhstanh.e. khaled mohammed al-aboodi, ■ Chief Executive Officer, Islamic Corporation for the Development of the Private Sector, Islamic Development Bank, Saudi ArabiaBehnam gurbanzade, ■ Chief Executive Officer, BEST Solutions, Islamic Financing Consultant and Member, CIS Islamic Advisory Council, Azerbaijanandrey Filatov, ■ General Manager, Russia and CIS, IBM, Russiakamran siddiqi, ■ Group Executive CEMEA, Visa, UAEBorisbiy Zhangurazov, ■ Executive Chairman, Kaznex Invest, Kazakhstanstuart pann, ■ Chief Supply Chain Officer, HP, USandrea Catherwood, ■ International Broadcaster

CIS economies, and the investment op-portunities present.

We will also be looking at how the au-tomotive and electronics industries are making the most of the new rail links be-tween China and Europe to speed route to market. What opportunities does this open up for businesses operating in the countries in between and how might global value chains change as new syner-gies emerge.

— farhana@khaleejtimes.com

hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry

the Forum will include discussions on potential investments and updates on the Cis’ economic forecast as well as predicted changes in the economic landscape.

After the revival of the Silk Road initiative that links China to Central Asia and the GCC countries, we believe that big opportunities for the Gulf region lie in reviving a Northern Corridor linking Dubai via Turkey, Azerbaijan to Russia, and the newly founded Eurasian Economic Union — a group of markets with around 350 million people that opens up a gate of opportunities for Dubai traders to benefit from these unexplored business arenas.

— hamad Buamim

khaleej times | ADVERTISING SUPPLEMENT

The first edition of the Common-wealth of Independent States Global Business Forum (CIS GBF 2016) in Dubai will be ad-

dressed by eminent speakers, including world-class business and economic lead-ers as well as global investors, focusing on key topics related to the changing realities of economic cooperation in the CIS.

Under the theme, ‘Ancient Routes - New Opportunities’, the Forum will fea-ture vibrant sessions exploring opportu-nities on old trading links to neighbouring regions and beyond as well as new Economic Union Eurasian alliances. Other major topics include Is-lamic finance, energy and sustainable future, the development of transport and logistics corridor between the north and south, and the profitability of eco-nomic diversification strategy.

“The Forum in its first edition in Dubai is an opportunity for the UAE and Gulf-based companies to explore the most promising markets of Central Asian countries. It will inspire in-depth dia-

logues between investors and officials on economic trends and plans to attract in-vestments and seek partnerships for the future,” said Hamad Buamim, President and CEO of Dubai Chamber.

Buamim pointed out that the partici-pation of a group of prominent speakers from the decision-makers in the busi-ness world would enrich the discussions at the Forum, and reveal the broad pros-pects for economic cooperation between the two regions. The sessions will high-light Dubai as a major driver in the shift towards real and sustainable economic partnership, which is of much interest to the business sector.

The first day of the Forum will look at the reorientation of CIS Business and the mutual benefits that come from the emerging CIS-GCC Cooperation Coun-

cil relationship. Sessions will also exam-ine the role of Sovereign Wealth Funds and focus on the transformation of the CIS and Dubai, providing tangible in-sights into opportunities, challenges and synergies. Another key session on the first day will be on the topic, Future En-ergy — After the Oil Age. The Forum will also see some of the region’s leading en-trepreneurs discussing the potential of the emerging private sector.

The second day will examine new op-portunities in developing the North-South transport corridor. One of the sessions will look at the impact of the Silk Road on supply chains while another will discuss the challenges of diversification and look at the lessons from Dubai in building up new industries. A session on the topic, ‘Connections along the Silk Road’ will draw attention on the role of such hubs such as Hong Kong and the potential for cooperation between Dubai and Hong Kong as new business connections emerge. Other major sessions will focus on the topics ‘Islamic Finance in the CIS’ and ‘Leveraging the CIS Opportunity’.

The CIS GBF 2016 is part of a series of global forums for businesses launched by Dubai Chamber to bring together leading players from various governments and institutions in order to support the devel-opment efforts, and explore new invest-ment opportunities in emerging markets around the world. So far, Dubai Chamber has organised three editions of the Africa Global Business Forum, with the most recent one held in November last year.

Vibrant sessions spread across two days to focus on key topics related to changing realities of economic cooperation in the CIS

Ancient Routes pave way for new opportunities

09.00 Welcome AddressH.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce & Industry

09.10Opening Keynote AddressH.E. Eng. Suhail Mohamed Faraj Al Mazrouei, Minister of Energy, UAE

09.30Changing Synergies — The Reorientationof CIS BusinessThe CIS is more a concept than a reality, as the markets of the former Soviet Union forge new economic alliances and build trading links to neighbouring regions and beyond – from the Eurasian Economic Union to the Silk Road. In this session we will explore the contours of these changing synergies. What are the mutual benefits that come from the emerging CIS-GCC relationship? What are the obstacles and risks?

Ruslan Alikhanov,• President, Argo Investment Company, RussiaJean-Marc Peterschmitt, • Managing Director for Countries of Operations and COO for Banking, EBRD, UK

Moderator: Nik Gowing, International Broadcaster

10.30 KeYNoTe dIscUssIoNNew Opportunities — Developing the North-South Transport CorridorThere is enormous potential for the Gulf region in developing the trading and investment routes that run North-South from the Silk Road. These would link

Dubai to Moscow and the newly founded Eurasian Economic Union – linking a group of markets with around 350 million people. What will it take to turn this into a key economic corridor over the next decade?

H.E. Jamal Majid Bin Thaniah, • Vice Chairman, DP World, UAE

Moderator: Andrea Catherwood, International Broadcaster

11.00 NeTWorKINg BreAK

11.30 Boosting Foreign Investment – Understanding the OpportunitiesBoth Kazakhstan and Azerbaijan are looking at new ways to attract investors andboost revenues as the oil price falls. Rakhim Oshakbayev Vice Minister of Investments and Development, Kazakhstan and Dr Sahil Babayev, Deputy Minister of Economy, Azerbaijan, discuss their strategies and explore the opportunities for potential investors.

Dr Sahil Babayev,• Deputy Minister of Economy and Industry, AzerbaijanRakhim Oshakbayev• , Vice Minister for Investments and Development, Kazakhstan

Moderator: Nik Gowing, International Broadcaster

12.00Emerging Multinationals – Who, What and Where Next? The CIS has struggled to create an entrepreneurial

culture, but a new generation of companies is emerging, leveraging knowledge of local markets and building on regional aspirations. This session will discuss the potential of the emerging private sector with some of the region’s leading entrepreneurs and investors.

Aidan Karibzhanov, • General Director, Visor Holding, KazakhstanMammad Karimov,• Founder, Khazar Ventures, AzerbaijanSamson Pkhakadze,• President, Wissol Group, Georgia

Moderator: Chris Weafer, Founding Partner, Macro Advisory

12.45 NeTWorKINg lUNch

14.00Future Energy – After the Oil AgeThe oil-rich countries of the CIS and the Gulf are trying to understand the future of hydrocarbons in a world of low prices and increasing pressure on carbon emissions. At the same time, they are exploring the potential of developing alternative energy sources. What must the oil states do to retain their position as energy hubs?

Christopher Hopkinson,• First Deputy Chairman, Kazmunaygas, KazakhstanSteven Geiger,• President , Innova Partners, USA

Moderator: Chris Weafer, Founding Partner, Macro Advisory

14.45Leveraging Technology: The Digital Silk RoadWhile most of the focus is on railways and maritime routes, a key dimension of ensuring that the Silk

Road is at the centre of Eurasian business is digital connectivity. Barbara Meynert, an expert on the digital economy in Asia, looks at how a smart Silk Road might impact the region and Nurlan Kussainov discusses his strategy to put digital technology at the heart of Astana’s new financial hub.

Barbara Meynert, • Chair of Digital Economy Task Force, UN ESCAP, ThailandNurlan Kussainov, • Chief Executive Officer, Astana International Financial Center Authority, Kazakhstan

Moderator: Andrea Catherwood, International Broadcaster

15.15 Diversification in Action – Creating an International Financial HubKazakhstan intends to turn its Expo 2017 site in Astana into an international financial centre, along the lines of Dubai’s DIFC and plans are already turning into action. DIFC’s Arif Amiri discusses his experiences and strategy with Kairat Kelimbetov, the newly appointed Governor of Astana International Financial Center.

H.E. Kairat Kelimbetov,• Governor, Astana International Financial Center, KazakhstanArif Amiri,• Chief Executive Officer, DIFC Authority, UAE

Moderator: Nik Gowing, International Broadcaster

16.00 End of Day One and Networking Reception

19.00 gAlA dINNer

09.00Yesterday and Today – In BriefWe will get the morning going with a lively summary of memorable points from the first day’s sessions – and an overview of the second day.

Chris Weafer• , Founding Partner, Macro Advisory

09.10A New Era of Globalisation - The Impact of the Silk RoadThe Silk Road, linking China and Europe via Central Asia and the Arabian Gulf, could be the start of a new phase of globalisation. What opportunities does this open up for businesses operating along these routes?

Kanat Alpysbayev, • Vice President for Logistics, Kazakhstan Railways, KazakhstanDr Yu Jianlong,• Secretary General, China Chamber of International Commerce, ChinaTaleh Ziyadov, • Director-General, Baku International Sea Trade Port, Azerbaijan

Moderator: Andrea Catherwood, International Broadcaster

10.00Diversification Dividends – Overcoming Challenges and Reaping RewardsThe region’s oil economies are all trying to diversify away from dependence on natural resources. Both Astana and Baku are working with Dubai to

position themselves as hubs for Central Asia with impressive infrastructure and high profile architectural projects. This session will discuss the challenges of diversification and look at the lessons from Dubai in building up new industries.

H.E. Hamad Buamim, • President and CEO, Dubai Chamber, UAE Ghaith Al Ghaith, • Chief Executive Officer, flydubai, UAEGerald Lawless,• Head of Tourism and Hospitality, Dubai Holding, UAE

Moderator: John Defterios, Emerging Markets Editor, CNN

11.00 NeTWorKINg BreAK

11.30 Funding the Future – Islamic Finance in the CISThe CIS region is home to large Muslim communities and relatively low penetration of financial services. Islamic finance has started to emerge as an option in Kazakhstan, Kyrgyzstan, Turkmenistan and Azerbaijan, with players from Dubai taking a leading role in introducing Shariah-compliant products and services. Governments, too, are gradually rolling out laws, regulations and standards for the sector. What is needed to make Islamic finance a viable alternative? How can the region implement policies to deepen the pool of available Shariah-compliant capital?

Prasad Abraham,• Chief Executive Officer, Al Hilal Bank, KazakhstanBehnam Gurbanzada, • Chief Executive Officer, B.EST Solutions, Islamic Financing Consultant and Member, CIS Islamic Banking Advisory Council, AzerbaijanNida Raza,• Director of Advisory Services, Islamic Corporation for the Development of the Private Sector, Islamic Development Bank, Saudi Arabia

Moderator: Eithne Treanor, Managing Director, E Treanor Media

12.30 NeTWorKINg lUNch

14.00Finding New Roads - Leveraging the CIS OpportunityRussia is an enormous market for many global companies — by far the largest in the CIS region. But its rapid slowdown has pushed companies to look harder at other markets in the CIS to sustain overall business performance in the region. In this session, regional directors discuss how they are tackling the challenges and expanding in this varied region.

Kamran Siddiqi, • Group Executive CEMEA, Visa, UAEAndrey Filatov, • General Manager, Russia and CIS, IBM, Russia

Moderator: Chris Weafer, Founding Partner, Macro Advisory

15.00 eXPerT INsIghT: Transforming Global Value ChainsThe automotive and electronics industries are already using the Silk Road’s new rail links to speed their route to market. HP’s Stu Pann, one of the world’s leading supply chain experts, shares his insights into the future of global value chains as these ancient routes create new synergies.

Stuart Pann, • Chief Supply Chain Officer, HP, USA

15.30Key FindingsSumming up the inaugural CIS Global Business Forum

Andrea Catherwood, • International Broadcaster

15.40 eNd of cIs gBf 2016

PROGRAMME

PROGRAMME

hIgh-ProfIle dIgNITArIes

Bakir Izetbegović, ■ Bosniak Member, Presidency of Bosnia and HerzegovinacY leung, ■ Chief Executive of the Hong Kong Special Administrative Region

KeY sPeAKers

h.e. eng ■ . suhail mohamed faraj Al mazrouei, UAE Minister of Energyh.e. Jamal majid Bin Thaniah, ■ Vice Chairman, DP World, UAEArif Amiri, ■ Chief Executive Officer of Dubai International Financial Centre Authority, UAEh.e. Ahmad Belhoul, ■ Minister of State for Higher Education Affairs, UAE

emINeNT sPeAKers

Prasad Abraham, ■ Chief Executive Officer, Al Hilal Bank, KazakhstanKhaled mohammed Al-Aboodi, ■ Chief Executive Officer of Islamic Corporation for the Development of the Private Sector at Islamic Development Bank, Saudi Arabiaghaith Al ghaith, ■ Chief Executive Officer, flydubai, UAEchristopher hopkinson, ■ First Deputy Chairman, Kazmunaygas, KazakhstanAidan Karibzhanov, ■ General Director, Visor Holding, Kazakhstanmammad Karimov, ■ Founder, Khazar Ventures, Azerbaijangerald lawless, ■ Head of Tourism and Hospitality, Dubai Holding, UAEBarbara meynert, ■ Chair of Digital Economy Task Force, UN ESCAP, ThailandJean-marc Peterschmitt, ■ Managing Director for Countries of Operations and Chief Operating Officer for Banking, European Bank for Reconstruction and Development, United Kingdomsamson Pkhakadze, ■ President, Wissol Group, GeorgiaBorisbiy Zhangurazov, ■ Executive Chairman, Kaznex Invest, KazakhstanTaleh Ziyadov, ■ Director-General, Baku International Sea Trade Port, AzerbaijanKamran siddiqi, ■ Group Executive CEMEA, Visa, UAE

WEDNESDAy, FEBRUARy 17

THURSDAy, FEBRUARy 18

The CIS GBF 2016 is part of a series of global forums for businesses launched by Dubai Chamber to bring together leading players from various governments and institutions in order to support the development efforts, and explore new investment opportunities in emerging markets around the world.