Dubai Chambers showcases opportunities, prospects to strengthen global partnerships

During the event, Dubai Chambers highlighted the opportunities present within the emirate’s economy

Dubai Chambers successfully hosted the 12th edition of its ‘Diplomatic Circle,’ with over 100 ambassadors, consul generals, and commercial attachés from the UAE in attendance. The event strengthened economic cooperation between Dubai and the international community

During the event, Dubai Chambers highlighted the opportunities present within the emirate’s economy and showcased the chambers’ efforts to strengthen trade and investment partnerships with international markets, as well as enhance engagement with business communities around the world.

During his speech at the event, Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, stressed the pivotal role played by ambassadors, consul generals, and commercial attachés in strengthening international cooperation and building partnerships to achieve common goals, noting that cooperation with the diplomatic corps has been instrumental in Dubai’s journey to success.

He emphasised the importance of building a strong network of relationships to advance Dubai’s position as a leading global hub for business, trade, and investment, stating, “Our international partnerships are supported by a growing network of country-specific Business Councils, which stood at 55 at the end of June. We organised 59 meetings with the Business Councils during H1 2024, and remain committed to expanding their role and increasing their number to further enhance trade ties with key markets. Our global network of 31 international representative offices plays a key role in attracting businesses and investments to Dubai and boosting trade.”

Al Ghurair also highlighted the role of communication and collaboration in facing the challenges of a rapidly evolving global economy, commenting, “Our relationships unlock a world of opportunities. This cooperation accelerates growth both here in Dubai and in your home countries. As we navigate the challenges of an ever-changing world together, we are proud to support our mutual ambitions and build impactful connections between our nations.”

He expressed his deep gratitude to the diplomatic corps for the key role it plays in contributing to Dubai Chambers’ strategic objectives and the goals of the Dubai Economic Agenda (D33) by ensuring companies in global markets are aware of the exciting opportunities available in Dubai.

Al Ghurair said, “Dubai Chambers is proud to serve as the engine that drives economic growth in the emirate. Our annual Diplomatic Circle gatherings – together with the diverse industry events that take place throughout the year across the city – create ideal platforms to learn more about the emirate’s dynamic economy and favourable business environment, discuss key trends, and lay the foundations for sustainable mutual growth.”

Participants in the Diplomatic Circle event also benefited from insights shared by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, during a discussion titled ‘Beyond Borders: Maximising CEPA for Economic Growth.’

The session focused on the importance of Comprehensive Economic Partnership Agreements (CEPAs) in unlocking trade, bolstering the UAE’s international relationships, and reinforcing its status as a global business hub.

Al Zeyoudi highlighted the benefits brought by these CEPA agreements, and how these accords can positively impact the UAE’s trade expansion. He said, “Our Comprehensive Economic Partnership Agreement programme reflects our belief in trade as a driver of economic growth, diversification and resilience. By expanding our trade network and deepening our relations with key nations around the world, we are creating a wealth of new opportunities for our private sector and accelerating investment into sectors crucial to the development of an economy based on knowledge and innovation. The record trade numbers we are now delivering year on year, quarter on quarter, vindicate this strategy and confirm our status as a global trade facilitator and logistics hub.”

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers presented during the event an informative presentation on the milestones achieved by Dubai Chambers during H1 224 and the plans of the three chambers operating under the umbrella of Dubai Chambers: Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai International Chamber.