Dubai World is exploring new avenues for investment in Australia and New Zealand, the group’s chairman said.

Sultan Ahmed Bin Sulayem revealed this during a meeting with Dr Saeed Mohammed Al Shamsi, the UAE Ambassador to Australia & New Zealand, in Sydney.

Explaining the significance of his visit, Bin Sulayem said: “Australia is a market we are familiar with and we are exploring further investment opportunities in the region.  Dubai World’s investment portfolio is spread across many strategic sectors such as real estate, hotels and resorts, and of course port terminals.”

Dr Al Shamsi, said: “Trade between Australia and the United Arab Emirates has increased significantly over the last few years and the expansion of DP World in Australia is a sign of this upward trend.  DP World has developed into a reputed brand in Australia, like Emirates Airlines, which allows for very productive relations between both countries.”

Australia has seen a steady rise in investments from the UAE over the last few years.  It is also a highly popular holiday destination, with over 15,000 Emirati tourists visiting the continent annually.

Bilateral trade between Australia and the UAE was valued at $1.45 billion in 2005. – TradeArabia News Service