After three years of extensive preparation, this key commercial centre in the heart of the Middle East is set to receive global financial leaders and over 1,000 reporters who have registered to cover the event.

"The United Arab Emirates is proud to be the first Arab country to host the Annual Meetings," said Mr. Ibrahim Belselah, General Coordinator of the Dubai 2003 Organising Committee.

"I am happy to say that Dubai is now ready. We are very excited at the prospect of being able to give the international community a taste of Arab hospitality," he said.

The Annual Meetings of the Board of Governors of the World Bank and the IMF run September 23rd-24th. They are preceded by a series of seminars which start September 20th and involve both private sector leaders and delegates from the 184 member countries of the two international bodies. Appropriately, several of this year's sessions focus on Middle East issues.

"Throughout the country and across the city everything is on schedule to make this one of the most successful Annual Meetings ever and the biggest event of its kind to be held in the Middle East," said Mr. Belselah.

Visitors to Dubai will witness first-hand the UAE's world-class infrastructure that includes one of the fastest growing airports in the world and, at Jebel Ali, the world's largest man-made port. In just 30 years, Dubai had grown from a traditional trading centre with limited oil reserves and a small population into a commercial centre of global repute where a truly international community and world-class expertise unite.

With a GDP of $54 billion, the UAE is today one of the wealthiest countries in the world and has achieved an impressive rate of diversification. Today, two thirds of the economy is driven by the non-oil sector and this trend is expected to continue. The UAE has consolidated the diversification process through adopting a very liberal and business oriented economic policy, notably through the creation of free zones.

Through the establishment of Dubai Internet City, Dubai Media City and the Dubai Knowledge Village, the UAE is working hard to ensure a high level of connectivity across the nation and a strong investment in human capital. The country recognizes that to maintain its position as a key investment destination, it must ensure the availability of a skilled labour force.

Dubai now hosts more nationalities - over 182 - per square kilometre, more than any other country in the world, providing a skill-set that has attracted global giants such as Microsoft, IBM and Dell. Dubai has also seen its own home grown corporates develop into international players, such as the Dubai Aluminium Company (DUBAL) and the Dubai Cable Company (DUCAB), both of which are major exporters. The Jebel Ali Free Zone has become one of the most active free zones in the world and now houses over 2000 companies.