Dubai Chambers unveils plans to expand business council functions in Dubai | News Bharat

DUBAI: Dubai Chambers has unveiled new plans to establish new country-specific business councils operating in Dubai and expand its roles to support ongoing efforts to boost Dubai’s non-oil foreign trade and create new channels of economic cooperation among the emirate’s business communities and up-and-comers. markets around the world.

The announcement was made by Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, who addressed more than 150 ambassadors, consuls general and trade attachés at the Diplomatic Circle 2022 dinner.

The event was held at the Bulgari Hotel & Resort in Dubai in the presence of Juma Mohammed Al Kait, Deputy Under-Secretary for the International Trade Sector of the UAE Ministry of Economy; Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chambers; and Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing (DCTCM).

Al Ghurair called on UAE ambassadors and members of the diplomatic community to offer their support in establishing several new business councils that will provide the right platforms for UAE and foreign businesses to connect, collaborate and create mutually beneficial partnerships.

“We are launching a new comprehensive framework that will restructure and expand the role of business councils in Dubai to boost its foreign trade and promote cross-border business opportunities for member companies. These councils will cover markets of strategic importance to Dubai and us they will support as we further expand our presence in Africa, Latin America and the Middle East and attract more business and investment from these regions,” said Al Ghurair.

Al Ghurair encouraged existing business councils to leverage Dubai International Chamber’s vast network of international offices to their advantage, operate more effectively and provide their members with access to attractive growth opportunities in the UAE and abroad .

He revealed that Dubai Chambers would organize a special forum in 2023 to engage members of business councils as well as representatives of embassies, consulates and commercial and foreign trade offices operating in the UAE and invited participants to attend the event .

He briefed participants on important economic developments and various new initiatives and features introduced by Dubai Chambers aligned with its new strategic priorities aimed at improving the business environment and economic competitiveness in Dubai.

He further thanked members of the diplomatic community for their vital support in attending Dubai Chambers events, trade delegations and other activities in 2022, including their participation in Expo 2020 Dubai, which he said contributed significantly to the success and achievements of the organization.

During his special remarks, Juma Mohammed Al Kait, Assistant Under-Secretary for the International Trade Sector of the UAE Ministry of Economy, elaborated on the UAE’s strategic plans to improve the regulatory environment, open new markets for export, adopt advanced technologies and ensure an ideal ecosystem for talent and entrepreneurs.

He stated that the UAE is building a modern economy as a global hub for trade and foreign investment in line with the government’s aim to double the size of the AED 1.4 trillion economy by AED 3 trillion by 2030. He highlighted the importance of bilateral trade. agreements and comprehensive economic partnership agreements signed between the UAE and major economies to accelerate trade, strengthen supply chains, create investment opportunities and drive innovation.

“The UAE is ready, more than ever, to do business with the world and form mutually beneficial partnerships that promise a brighter and better future for all,” Al Kait said as he called on business communities across of the world that take advantage of emerging market opportunities. in the country

The UAE is also attracting a new generation of foreign direct investment to accelerate our industrial innovation ambitions. We welcome all forms of capital: technological and financial, Al Kait said, identifying healthcare, education, agritech, food production, fintech, financial services and advanced technologies as to key target sectors for FDI.

He added that the new residency rules applicable to golden visas and green visas, as well as updated laws related to commercial enterprises, employment and family businesses will help ensure the UAE’s sustainable economic growth.

During a panel discussion held at the 2022 Diplomatic Circle Dinner, panelists shared their valuable insights and opinions on a wide variety of important issues, including the cost of doing business in Dubai, the role of comprehensive economic partnership agreements to boost trade and existing support for local and international businesses, plus new plans to streamline government services for UAE and overseas businesses that aim to improve the ease of doing business.

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