The chamber said the new office is aimed at strengthening relationships with key public and private sector stakeholders
Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has inaugurated a new international office in London.
The chamber said the new office is aimed at strengthening ties with key public and private sector stakeholders, as well as supporting UK companies that are considering relocating to or expanding into Dubai. It will also serve to support UK companies that seek to grow their business internationally through the Middle East tourism and business hub.
The new office, which is Dubai Chamber’s first representative office in Europe and 20th globally, marks a significant step in the chamber’s global expansion strategy.
“As Dubai International Chambers’ first international office in Europe, the opening of our 20th commercial representative office in London is a landmark occasion that will bring far-reaching benefits,” Khalid Al Shamsi, vice president of Operations at Dubai Chambers.
“The UK has always been a key strategic market for Dubai and a land of opportunity where our members can thrive as they seek out exciting new trade and investment opportunities.”
The opening of the London office comes as part of the Dubai Global initiative, which was launched last year by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.
The initiative aims to develop a powerful network of 50 international representative offices worldwide by 2030 that will support Dubai Chambers’ strategic goals of attracting international business and investment to Dubai and driving the global expansion of its members.
Dubai Chamber to boost trade with the UK
Meanwhile, the number of UK companies registered with the Dubai Chamber of Commerce reached 9,200 at the end of 2022, registering an increase of 69 per cent since 2016.
The latest data from Dubai Customs show that the UK ranked 15th on Dubai’s list of trading partners in 2022, with non-oil trade achieving year-on-year growth of 28.6 per cent to reach Dhs29.7bn.
The representative office will open new channels for communication and economic cooperation between businesses and organisations in the two markets. The new office is expected to unlock promising opportunities to enhance trade volumes and bilateral investments.
The International Trade Centre revealed that UK exports of aircraft, spacecraft and parts to the UAE amounted to Dhs6.24bn in 2022 and have the potential to be increased to Dhs8.45bn.
Meanwhile, exports of motor vehicles and parts could grow from Dhs2.5bn to Dhs5.5bn. Exports of processed or preserved food products have the potential to expand from Dhs528m to Dhs642m, while meat exports could hit the Dhs282m mark, up from just Dhs3m.
Dubai Chamber said strong opportunities also exist to increase UAE exports to the UK. Precious metals exports are currently at only 17 per cent of their full potential and could increase from Dhs286m to Dhs1.66bn.
Dubai’s strategic location and world-class logistics facilities have established it as a trade hub of choice for UK companies with global ambitions. The city serves as a gateway between East and West that offers convenient access to 2.2 billion consumers and unlocks opportunities for businesses looking to expand their footprints in the GCC, Africa, and South America.
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