Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has inaugurated a new international representative office in Jakarta, Indonesia, which brings the chamber’s total number of global offices to 18 across Africa, Latin America, Eurasia, India, and China.
The strategic step comes as part of the ‘Dubai Global’ initiative, which was launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, with the goal of establishing 50 integrated commercial representative offices worldwide by 2030.
The offices will attract foreign investment, talent, and new business to Dubai and reinforce the emirate’s position as one of the world’s leading commercial hubs, while also enabling Dubai-based companies to expand their businesses in 30 priority markets overseas.
“Indonesia remains a key strategic market for us, and this move creates a crucial platform for building cross-border partnerships with one of the world’s largest economies. We will continue to work together to build momentum for further growth in trade and investments and leverage the Comprehensive Economic Partnership Agreement (CEPA) agreement to achieve significant expansion in exports and imports between the two markets.”
Last year, Indonesia and the UAE signed a CEPA, heralding a new era of strategic cooperation. The agreement aims to enhance bilateral trade between the two countries and increase its total value from around $30 billion in 2021 to $10 billion annually within five years. The two nations have eliminated or will gradually reduce tariffs for almost 99 percent of their commonly traded commodities.
The number of Indonesian companies registered with the Dubai Chamber of Commerce stood at 192 at the beginning of this year, having grown by an impressive 204.8 percent since 2016. Dubai International Chamber aims to strengthen an already robust commercial relationship by identifying and capitalizing on new trade and investment opportunities in key sectors including apparel, cocoa butter, aluminum, and agribusiness.
As part of Dubai Chambers’ ongoing efforts to attract companies to the emirate, the visiting delegation met with ten multinational corporations in the logistics, software & technology, and pharmaceutical sectors.
The team in Indonesia will focus its efforts on building strong relationships with key public and private sector stakeholders, as well as supporting Indonesian companies to enter the Dubai market and expand internationally through the emirate. The Jakarta office will also create new channels for communication and economic cooperation between UAE and Indonesian businesses, in addition to working with partners in Indonesia to jointly organize networking events, business seminars, and business matching.