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The Dubai International Chamber, one of three chambers under the Dubai Chambers umbrella, has inaugurated its newest international office in Johannesburg. The new office further strengthens the UAE’s growing trade links with Africa and will seek to increase the level of bilateral investment between Dubai and South Africa.
The Johannesburg office brings the Chamber’s total international representation to 21, five of which are in Africa. The opening of ICC Dubai builds on its growing presence on the African continent, following the opening of representative offices in Kenya, Ethiopia, Mozambique and Ghana.
These play a vital role in facilitating trade and investment flows between Africa and Dubai and unlocking opportunities for Dubai companies in the African market.
on-site assistance
DICC will focus on providing comprehensive support to the South African business community and building strong relationships with key public and private sector stakeholders. The team in the office will provide on-the-ground assistance to South African companies seeking to enter the Dubai market and expand internationally through the emirate.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chamber of Commerce, said: “The new office in Johannesburg is part of our commitment to position Dubai well in Africa and strengthen trade with this important continent. Another example of our commitment to connecting and unlocking two-way investment.” In line with our strategic priorities and the emirate’s foreign trade plans, we expect further growth in Dubai’s non-oil trade with South Africa and other key African markets, while the strategies of businesses on both sides Investment will also increase. “
The UAE is the largest trading nation and the largest host of foreign direct investment (FDI) in the MENA region, while South Africa is the UAE’s largest trading partner on the African continent and the second largest host of FDI in sub-Saharan Africa. According to Dubai Customs statistics, non-oil trade between South Africa and Dubai will increase by 11.5% year-on-year in 2022, reaching a total of 22.3 billion dirhams (6.07 billion U.S. dollars).
Dubai Global Initiative
The inauguration of the Johannesburg office is part of the “Dubai Global” initiative, launched in 2022 by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to In setting up 50 representative offices for Dubai to span five continents by the end of the decade. The initiative supports the Dubai Chamber’s strategic objectives of attracting international business and investment to Dubai and driving the global expansion of its members.
A total of 777 South African companies will be registered with the Dubai Chamber by the end of 2022, an increase of 77% since 2016. The new office will strengthen the already strong business relationship between the UAE and South Africa by identifying and capitalizing on new trade and investment opportunities in a range of key industries including gems and metals, agriculture, logistics and mining.
Dubai’s strategic location and world-class logistics facilities make it the trading hub of choice for South African companies with global aspirations. With easy access to 2.2 billion consumers, the emirate acts as a hub enabling South African companies to expand their footprint globally. — trade arab news agency
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