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The announcement was made at the 2022 Annual Diplomatic Circle Dinner hosted by the Dubai Chamber of Commerce and attended by more than 150 ambassadors, consuls general and commercial attachés.
Diplomatic Circle’s panelists shared their valuable insights and perspectives on a variety of important issues, including the cost of doing business in Dubai. — Photo provided
The Dubai Chamber of Commerce has unveiled new plans to establish new country-specific business councils operating in Dubai and expand their role in support of ongoing efforts to boost non-oil foreign trade in Dubai, and in the emirate’s Create a new world of economic cooperation channels between the business community and the surrounding promising markets.
The announcement was made by Abdul Aziz Al Ghurair, Chairman of the Dubai Chamber of Commerce, who addressed more than 150 ambassadors, consuls general and trade attachés at the 2022 Diplomatic Circle Dinner.
The event, held at Bulgari Hotels & Resorts in Dubai, was attended by Juma Mohammed Al Kait, Assistant Undersecretary for International Trade, Ministry of Economy, UAE; Mohammad Ali Rashed Lootah, President and CEO, Dubai Chamber; Executor Issam Kazim.
Abdul Aziz Al Ghurair, Chairman of the Dubai Chamber of Commerce, addressed the 2022 Diplomatic Circle Dinner.
Al Ghurair called on ambassadors in the UAE and members of the diplomatic community to lend support for the establishment of several new business councils that will provide businesses in the UAE and abroad with the right platform to connect, collaborate and form mutually beneficial partnerships.
“We are establishing a new comprehensive framework that will restructure and expand the role of Dubai Business Councils to facilitate its foreign trade and facilitate cross-border business opportunities for member companies. These councils will cover markets of strategic importance to Dubai, And support us in further expanding our presence in Africa, Latin America and the Middle East and attracting more companies and investments from these regions,” said His Excellency Al Ghurair.
Al Ghurair encourages existing business councils to utilize DICC’s vast network of international offices to their benefit, operate more efficiently and provide its members with access to attractive growth opportunities in the UAE and abroad.
He revealed that the Dubai Chamber of Commerce will organize a special forum in 2023, inviting members of the Business Council, as well as representatives of embassies, consulates and foreign trade and commercial offices doing business in the UAE, and invited attendees to the event.
He briefed participants on key economic developments and the launch of several new initiatives and functions by the Dubai Chamber, which align with its new strategic focus to enhance Dubai’s business environment and economic competitiveness.
In addition, he thanked members of the diplomatic community for their vital support in assisting the Dubai Chamber’s events, trade missions and other activities in 2022, including participation in Expo 2020 Dubai, which he said contributed significantly to the organization’s success and achievements .
Juma Mohammed Al Kait, Assistant Undersecretary, International Trade Department, UAE Ministry of Economy, addressed the 2022 Diplomatic Circle Dinner.
In his special address, Juma Mohammed Al Kait elaborated on the UAE’s strategic plan to strengthen the regulatory environment, open new export markets, embrace advanced technologies and ensure an ideal ecosystem for talent and entrepreneurs
He said the UAE is building a modern economy as a center for global trade and foreign investment in line with the government’s goal of increasing the size of the economy from AED1.4 trillion to AED3 trillion by 2030. He highlighted the importance of bilateral trade deals and comprehensive economic partnership agreements signed between the UAE and major economies in accelerating trade, strengthening supply chains, creating investment opportunities and promoting innovation.
“More than ever before, the UAE is open to doing business with the world and forming mutually beneficial partnerships that lead to a brighter and better future for all,” said Al Kait, calling on the business community around the world to take advantage of emerging market opportunities . domestic.
The UAE is also attracting a new generation of foreign direct investment to accelerate our industrial innovation ambitions. Al Kait said that we welcome all forms of capital – technology and finance, and identified healthcare, education, agritech, food production, fintech, financial services and advanced technology as the main target industries for FDI.
He added that new residency regulations applicable to golden and green visas, as well as upgraded laws related to business companies, employment and family businesses, will help ensure sustainable growth of the UAE economy.
The Diplomatic Circle Dinner 2022 features a panel discussion featuring Al Ghurair, Chairman, Dubai Chamber; Juma Mohammed Al Kait, Assistant Undersecretary, International Trade, UAE Ministry of Economy; Mohammad Ali Rashed Lootah, President and CEO, Dubai Chamber and Dubai Tourism and Business Marketing Issam Kazim, CEO of the company (DCTCM).
During the discussion, the panelists shared their valuable insights and perspectives on a variety of important issues, including the cost of doing business in Dubai, the role of the Comprehensive Economic Partnership Agreement in driving trade and existing support for local and international companies , and a new program to simplify government services for companies in the UAE and abroad aims to improve the ease of doing business.
— muzaffarrizvi@khaleejtimes.com
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