Dubai International Chamber board discusses new strategies to enhance foreign trade

By Shilpa Annie Joseph, Desk Reporter
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Dubai Chamber
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The Board of Directors of the newly created Dubai International Chamber, one of three chambers under the umbrella of the Dubai Chambers, met for the first time to review goals and new plans for boosting emirate’s trade with global markets.

The board discussed ways to utilize the Chamber’s international network to enter into the 30 priority markets, which have been recognized as high potential markets that can drive the growth of Dubai’s foreign trade.

Further, Dubai International Chamber member companies intend to achieve the goal of increasing Dubai’s foreign trade to $544 billion (AED2 trillion) in the next five years, cementing Dubai’s status as a global trade hub.

Sultan Ahmed bin Sulayem
Sultan Ahmed bin Sulayem
Dubai International Chamber

“Trade is the cornerstone of Dubai’s economy and essential for its diversification and stated that the new board will focus its efforts on implementing a new strategy announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to boost Dubai’s foreign trade to $544 billion (AED2 trillion) within the next five years and cement the emirate’s position as a global trade hub. 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.”

“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 a 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,” Sultan bin Sulayem added.

The Dubai International Chamber was founded to build ties with international firms, investors, and entrepreneurs, as well as to promote Dubai as a major trading hub. The chamber will promote the opportunities that the emirate offers in facilitating trade flows by taking a more specialized approach to growing Dubai’s foreign trade.

The Chamber was established on the instructions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, as part of a recent government restructure aimed at driving Dubai’s overall economic development.

Related: Dubai Chamber Member trade activity hit $40bn between Jan-Aug 2021