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Dubai International Chamber of Commerce, one of three chambers under the Dubai Chamber umbrella, has opened a new international representative office in Jakarta, Indonesia. The launch brings the Chamber’s total global offices in Africa, Latin America, Eurasia, India and China to 18.
This strategic step is part of the ‘Dubai Global’ initiative, launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, which aims to Establish 50 comprehensive commercial representative offices within 2030.
These offices will attract foreign investment, talent and new business to Dubai, strengthening Dubai’s position as one of the world’s leading business centers, while also enabling Dubai-based companies to expand their operations in 30 overseas priority markets.
special ceremony
The office was officially inaugurated at a special ceremony held in Jakarta in the presence of Bahlil Lahadalia, Minister of Investment of Indonesia; Ahmed Ali Al Sayegh, Minister of State, Cabinet of the UAE; Husin Bagis, Ambassador of the Republic of Indonesia to the UAE; Abdulla Salem Al Dhaheri, Ambassador of the UAE to the Republic of Indonesia; Bernardino Vega, Vice President International Relations, Chamber of Commerce and Industry; Hassan Al Hashemi, Vice President International Relations, Dubai Chamber of Commerce.
Al Sayegh said: “The opening of this representative office is a sign of our shared commitment to strengthen the relationship between our two friendly countries. I would encourage Indonesian companies, large and small, to take advantage of the resources, knowledge and commitment that the Dubai Investment and trade goals. By forging new partnerships, we can continue to make substantial progress in our joint efforts to create a more prosperous and sustainable future.”
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chamber, commented: “Indonesia remains an important strategic market for us and this The relationship creates an important platform. We will continue to work together to build momentum for further growth in trade and investment, and leverage the CEPA agreement to achieve a significant expansion of imports and exports between the two markets.”
strengthen trade
Last year, Indonesia and the UAE signed the Comprehensive Economic Partnership Agreement (CEPA), ushering in a new era of strategic cooperation. The agreement aims to strengthen bilateral trade between the two countries and increase its total value from about 11 billion dirhams ($3 billion) in 2021 to 36.7 billion dirhams a year within five years. The two countries have eliminated or will gradually reduce tariffs on nearly 99 percent of mutually traded goods.
According to Dubai Customs statistics, non-oil trade between Dubai and Indonesia will reach AED 11.9 billion in 2022, an impressive 26.6% year-on-year increase. The establishment of the Indonesian representative office will create new opportunities for exporters and companies from both countries.
At the start of the year, the number of Indonesian companies registered with the Dubai Chamber stood at 192, an impressive 204.8 percent increase since 2016. The Dubai International Chamber of Commerce aims to achieve this by identifying and capitalizing on new trade and investment opportunities in key industries, including apparel, cocoa butter, aluminum and agribusiness.
ten multinational corporations
As part of the Dubai Chamber’s ongoing efforts to attract companies to the emirate, the visiting delegation met ten multinational companies in the logistics, software and technology, and pharmaceutical industries.
The Indonesia team will focus on building strong relationships with key public and private sector stakeholders and supporting Indonesian companies entering the Dubai market and expanding internationally through the emirate. The Jakarta office will also open up new avenues for exchange and economic cooperation between UAE and Indonesian businesses, in addition to co-hosting networking events, business seminars and business matching with partners in Indonesia.
— trade arab news agency
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