Dubai Chamber opens seventh international office
The celebrated opening was held in the Chinese city of Shanghai. Opening an office in China is part of the chamber’s plan to market and promote Dubai as an international trade hub.
The grand opening was held during Dubai Week in Shanghai, which is hosted by Falcon and Associates with Invest Shanghai listed as a co-host. Dubai Week is also supported by the Shanghai Municipal Commission of Commerce (SMCC). The Dubai Chamber opened its sixth international office in Nairobi, Kenya in early October. Other global offices include Erbil, Maputo, Baku, Addis Ababa and Accra.
“China is our top trading partner and we have worked hard to strengthen trade relations with the country over the last decade,” Hisham Al Shirawi, second vice chairman at Dubai Chamber, said. “The opening of the Chamber’s Shanghai office, our first in China, a testament of our efforts to improve trade relations with the country and Southeast Asia. The move also falls in line with objectives outlined under the Dubai Plan 2021 to strengthen the emirate’s status as a leading business hub and an attractive investment destination.”
“We are confident that establishing a presence in this market will lead to new relationships and partnerships with Chinese businesses and bring about mutual benefits and economic growth,” Al Shirawi said. “It will also help Chinese companies to expand their reach to markets in Africa, using Dubai as an access point.”
In addition, Al Shirawi highlighted the fact that Dubai and China are benefactors of ideal geographical locations with easy access to GCC, East Asia and other neighboring markets. The ‘China–Central Asia–West Asia economic Corridor,’ where the UAE is located, goes through the CIS region, noted as a leading investment and trade region for Dubai.
“China’s plans to recreate the Silk Road through the ‘One Belt One Road’ initiative have boosted its trade flows with Central Asian countries and beyond,” Al Shirawi said. “Therefore, the UAE and Dubai play a critical role as an investment and trade hub along the New Silk Road with strategic access to the Middle East, Africa and South Asian (MEASA) markets. Due recent economic trends, Chinese companies are now looking abroad for new trade opportunities. We are seeing a growing number of Chinese businesses investing in Dubai’s real estate and manufacturing sectors, which is supporting the growth of the private sector.”
Trade in industries other than oil has developed in recent years between Dubai and China, leading to roughly $47.9 billion in 2015. The Dubai Chamber currently lists 2,829 Chinese companies registered with the organization.