The Board of Directors of the newly formed Dubai International Chamber has identified target markets for expanding Dubai’s trade to AED2 trillion ($540 billion) in the next five years.
Member companies of Dubai International Chamber will work towards achieving this target and consolidating Dubai’s position as a global trade hub.
The board discussed ways to leverage the Chamber’s international network to tap into the 30 priority markets, which have been identified as high potential markets that can accelerate the growth of Dubai’s foreign trade.
In its first meeting at the Dubai Chamber headquarters chaired by Sultan bin Sulayem, Chairman of the Board of Directors of Dubai International Chamber, it was acknowledged that trade is the cornerstone of Dubai’s economy and essential for its diversification.
Board members who took part were Helal Saeed Al Marri; Stephen Moss; Gassan Al Kibsi; Mark Willis; Nader Haffar; Dr. Habib Mulla; Nabil Habayeb; Sanjiv Kakkar; Elissar Farah Antonios; Julia Onslow-Cole; Rani R. Raad; Rola Abu Minh; May Nasrallah Merville; Shukri Eid; and Ahmed Alkhallafi. The meeting was also attended by Hamad Buamim, President & CEO, of Dubai Chamber.
“Through integrated plans, the chamber will target new international markets and support the expansion of national companies abroad. The chamber will also support and integrate global investors, entrepreneurs and talent into Dubai’s flourishing business community within a comprehensive framework that ensures providing an agile pro-business environment,” said Bin Sulayem.
“I am confident that the Dubai International Chamber will not only achieve its new targets but take Dubai’s trade ties with promising markets to the next level. The Chamber is already in strong position to achieve its objectives as it can leverage Dubai Chambers’ resources and vast network of international representative offices across Africa, Eurasia and Latin America,” he added.
Dubai International Chamber was established to strengthen partnerships with global corporations, investors and entrepreneurs and boost Dubai’s status as a major trade hub. Adopting a more specialised approach to driving Dubai’s foreign trade, the chamber will promote the opportunities that the emirate offers in facilitating trade flows.
The Chamber was established under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, as part of a recent government restructuring that aims to drive a comprehensive economic development in Dubai.-- TradeArabia News Service