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Dubai International Chamber board plans to boost international trade

The Dubai International Chamber (DIC), one of the three chambers under the umbrella of the newly established Dubai Chambers, held its inaugural meeting earlier this week at the Dubai Chamber headquarters, where board members reviewed goals and new strategies to enhance Dubai's commerce with worldwide markets.

Sultan Bin Sulayem, Chairman of the Board of Directors of Dubai International Chamber, presided over the meeting, which was attended by board members 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, May Nasrallah Merville, Rola Abu Minh, Hamad Buamim, President and CEO of Dubai Chamber, also attended the meeting.

The board addressed how to use the Chamber's worldwide network to tap into the 30 priority countries that have been designated as high-potential markets for Dubai's foreign trade growth. Dubai International Chamber member firms will strive toward a goal of increasing Dubai's international trade to Dhs2 trillion in the next five years, solidifying Dubai's status as a worldwide commercial hub.

HE Sultan bin Sulayem stated that trade is the foundation of the Dubai economy and is required for diversification, and that new board will concentrate its efforts on implementing the new plan outlined by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to increase Dubai's foreign commerce to Dhs2 trillion over the next five years.

“The chamber will seek new international markets and support national businesses in developing overseas through integrated strategy. The chamber will also promote and integrate global investors, entrepreneurs, and talent into Dubai's thriving business community under a comprehensive framework that assures an adaptable pro-business environment,” Bin Sulayem added.

Dubai International Chamber of Commerce was founded to enhance connections with worldwide businesses, investors, and entrepreneurs, as well as to elevate Dubai's reputation as a major commercial hub. The chamber will highlight the potential that the emirate provides in facilitating trade flows, taking a more specialized approach to boosting Dubai's international commerce.

Nigeria has become a Hub member of the World Logistics Passport (WLP), with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) serving as the coordinating partner.

“We regard West Africa as a long-term development market, with Nigeria spearheading expansion in the region,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World. The WLP contributes to economic growth and job creation through increasing trade, mostly by making a country's products more competitive through more efficient supply chains. This means uncovering new prospects through our network throughout the African continent and beyond for Nigerian traders. South Africa, Senegal, Morocco, Kenya, Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso, and Guinea are among the African countries that have joined the WLP.

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Posted on :10/1/2021