Dubai Worldwide Chamber (DIC), one of many three chambers working beneath Dubai Chambers, has inaugurated a brand new worldwide consultant workplace in London, United Kingdom. The launch of the brand new workplace, which is DIC’s first consultant workplace in Europe and twentieth globally, marks a major step within the chamber’s world enlargement technique.
The brand new workplace will focus its efforts on strengthening relationships with key private and non-private sector stakeholders, in addition to supporting UK firms which might be searching for to relocate to or increase into Dubai and develop their enterprise internationally by way of the emirate. The variety of UK firms registered with Dubai Chamber of Commerce reached 9,200 on the finish of 2022, registering a rise of 69% since 2016.
The workplace was formally inaugurated at the moment throughout a particular ceremony in London with the participation of H.E. Mansoor Abdullah Khalfan Juma Abulhoul, the United Arab Emirates’ Ambassador to the UK, H.E. Simon Penney, His Majesty’s Commerce Commissioner (HTMC) for the Center East and Pakistan and His Majesty’s Consul Normal (HMCG) to Dubai, and Khalid Al Shamsi, Vice President of Operations at Dubai Chambers.
H.E. Mansoor Abdullah Khalfan Juma Abulhoul, said: “It’s a actual honour to open the Dubai Worldwide Chamber Consultant Workplace in London, and lengthy overdue given the illustrious relationship between our two international locations! The UAE is comfortably the UK’s largest buying and selling associate within the Center East, and third largest outdoors of Europe after the US and China. The opening of the Consultant Workplace is the subsequent step in an extended journey of mutual cooperation and prosperity between the Emirates and the UK. It follows the vastly profitable Sovereign Funding Partnership and final month’s UAE-UK Strategic Dialogue. I sit up for the subsequent chapter of our financial relationship.”
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers commented: “As Dubai Worldwide Chambers’ first worldwide workplace in Europe, the opening of our twentieth industrial consultant workplace in London is a landmark event that can carry far-reaching advantages. The UK has at all times been a key strategic marketplace for Dubai and a land of alternative the place our members can thrive as they search out thrilling new commerce and funding alternatives.”
Lootah added: “Immediately’s inauguration represents one other essential step on our journey to consolidate Dubai’s place as a number one world enterprise vacation spot and additional strengthens the shut historic financial ties between Dubai and the UK.”
The opening of the London workplace comes as a part of the Dubai World initiative, which was launched final 12 months by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Govt Council. The initiative goals to develop a robust community of fifty worldwide consultant workplaces worldwide by 2030 that can help Dubai Chambers’ strategic objectives of attracting worldwide enterprise and funding to Dubai and driving the worldwide enlargement of its members.
In accordance with Dubai Customs statistics, the UK ranked 14th on Dubai’s record of buying and selling companions in 2022, with non-oil commerce attaining year-on-year progress of 28.6% to succeed in AED29.7 billion. The consultant workplace will open new channels for communication and financial cooperation between companies and organisations within the two markets, and goals to unlock promising alternatives to boost commerce volumes and bilateral investments.
In accordance with Worldwide Commerce Centre, the UK exports of plane, spacecraft, and components to the UAE amounted to AED6.24 billion in 2022, and have the potential to be elevated to AED8.45 billion. In the meantime, exports of motor automobiles and components may develop from AED2.5 billion to AED5.5 billion. Exports of processed or preserved meals merchandise have the potential to increase from AED528 million to AED642 million, whereas meat exports may attain as excessive as AED282 million, up from simply AED13 million.
Robust alternatives additionally exist to extend UAE exports to the UK. Valuable metals exports are at the moment at solely 17% of their full potential and will enhance from AED286 million to AED1.66 billion. Exports of digital gear have the potential to increase from AED183 million to AED1.45 billion, whereas exports of jewelry and treasured steel articles may rise from AED558 million to AED1.01 billion. Equally, exports of equipment have the potential to increase from AED474 million to AED867 million.
Dubai’s strategic location and world-class logistics services have established it as a commerce hub of alternative for UK firms with world ambitions. The emirate serves as a gateway between East and West that gives handy entry to 2.2 billion shoppers and unlocks alternatives for companies seeking to increase their footprints within the GCC, Africa, and South America.
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