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The Dubai Chamber has announced new sector-specific business groups for four economic sectors: agribusiness, furniture and home furnishing, flower traders and tire traders.
The Chamber plans to increase the number of industry-specific business support groups to 100 by March 2023.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chamber of Commerce, said: “This latest batch of business groups aims to encourage greater collaboration, mutual knowledge sharing and better understanding of competition across industries. Synergies that exist between adversaries, including domestic, regional and international trade opportunities.”
support service
Lootah noted that all four sectors are key to the overall economic growth of the Dubai economy, but again, they will all benefit from the wide range of support services offered by the Chamber. “It is critical that we ensure that every sector of Dubai’s growing economy receives the support it needs to thrive.”
Lootah said the aim was to promote the growth of UAE companies and raise the profile of conglomerate members in the international business community.
These groups will provide a suitable forum to facilitate mutual dialogue between government entities and relevant group stakeholders and update group members on policy issues related to industry, domestic and international trade and investment.
“Business group members will also have a platform for the exchange of information and experience, and to exchange and interact with public and private entities on policy matters relevant to the group’s respective sectors through meetings, gatherings, seminars, conferences, receptions and other forums exchange,” he explained.
knowledge skills
Each business group will also have the opportunity to contribute to the development of knowledge, skills and best practices in industrial, trade and investment policy and to facilitate exchanges on these policy issues with similar groups internationally.
Lootah added: “The creation of industry-specific business groups is in line with our ongoing mission to continuously improve the business environment in Dubai and support member companies in their global expansion plans.”
agricultural business
The agribusiness sector is an important part of the economic mix as Dubai strives to improve food security and reduce reliance on imports. Dubai’s rich investment ecosystem has already seen the development of the world’s largest vertical farm and will become the world’s largest “agritourism” destination by 2030 with the opening of this ambitious agricultural and tourism district.
About 85% of the food consumed in the UAE is imported. As a snapshot of total growth in different food categories, Euromonitor reports that between 2017 and 2022, sales of fresh vegetables increased by 17%, pulses by 21.4%, meat by 21.4%, and other fresh foods 16.1%.
Furniture and Home
In 2021, the pent-up home furnishing demand will start to be released, and sales will exceed the pre-epidemic level. The growth of new e-commerce channels in the home industry is also evident, with growth in bedding, home office furniture and gaming furniture – driven by mandatory home hours and a global shift to working from home.
According to Euromonitor International, the main categories of sales growth between 2016 and 2021 include mattresses (31.3% sales growth), sofa beds (27.2% growth), curtains (28.1%) and light sources (35.9%), again reflecting the large The pandemic has caused society to shift to spending more time at home.
To continue this upward growth trend, the business group will explore ways to maintain positive volume growth.
florist
According to Dubai Customs, between 2011 and 2021, the total flower trade in Dubai was worth AED 1.5 billion (US$ 410 million).
The Dubai Flower Center is a free zone within Dubai International Airport dedicated to the import and export of flowers, offering significant cost benefits to international shippers, connecting more than 15 producing countries with markets in Asia, Africa and the Middle East.
tire dealer
According to Dubai Customs, between 2011 and 2021, Dubai’s total trade in tires was Dh65.2 billion. This reflects that the industry is in a growth phase, especially considering that Dubai has one of the highest vehicle densities in the world. — trade arab news agency
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