Dubai, Australia to strengthen economic and investment ties

Dubai Chambers has signed a Memorandum of Understanding (MoU) with the Australian Chamber of Commerce and Industry (ACCI) to enhance cooperation, strengthen economic and trade relations, and support the development of partnerships between the business communities in Dubai and Australia.

The MoU supports the sharing of data and expertise between the two parties and cooperation on studies and research relating to trade, investment, and the economy, as well as the latest developments surrounding legislation governing business. The agreement is aimed at strengthening relationships between the business communities in Dubai and Australia to achieve their mutual objectives and contribute to boosting bilateral trade and investments.

Hassan Al Hashemi, Vice President of International Relations at Dubai Chambers, commented: “At Dubai Chambers, we are keen to strengthen international partnerships to support the expansion of local businesses in strategic global markets and attract international companies and investments to Dubai.

The MoU with the Australian Chamber of Commerce and Industry comes as part of our ongoing efforts to develop trade and investment prospects for the private sector and will contribute to strengthening bilateral relations and driving growth and prosperity in both markets.” Lyall Gorman, Deputy President of the Australian Chamber of Commerce and Industry, commented: “I am delighted to formalise this MoU between Dubai Chambers and the Australian Chamber of Commerce and Industry.

The opportunity for our two organisations to engage more fully for mutual benefit are significant in their nature. I look forward to ongoing strategic dialogue between our organisations with a view to enhancing economic activity, information exchange, and connectivity at all levels of business. Both Dubai Chambers and the Australian Chamber of Commerce and Industry are extremely progressive and highly regarded within their respective regions, and I am confident that a high level of value exchange will emerge as a result of coming together under the umbrella of this MoU.”

In May last year, Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, opened a new international representative office in Sydney, Australia, as part of efforts to strengthen economic partnerships and achieve its strategic priorities. Dubai Chambers is committed to supporting members with their global expansion plans in strategic markets around the world, attracting foreign investment and international companies to the emirate, and enhancing Dubai’s reputation as a leading global hub for business and investment. The chambers play a key role in supporting the objectives of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy over the coming ten years and consolidate Dubai’s position among the top three global cities.

Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks. In March 2021, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers.

Meanwhile Dubai Chamber of Digital Economy (DCDE), one of the three chambers operating under the umbrella of Dubai Chambers, has successfully concluded its participation in Gitex Africa 2024 in Marrakech, Morocco.  The chamber arranged more than 56 meetings with African ecosystem partners during the event, with the goal of attracting VCs and companies from the continent to expand their business activities into Dubai.

Dubai Chamber of Digital Economy showcased the emirate’s competitive advantages at its stand during the three-day event, as well as the extensive support the chamber provides to African companies seeking to enter the Dubai market.

The chamber’s participation came as part of its ongoing drive to establish Dubai as a leading global capital of the digital economy.

During the event, which is the largest of its kind for technology and startups on the African continent, the chamber focused on attracting digital startups to participate in Expand North Star 2024. Organised by Dubai World Trade Centre and hosted by Dubai Chamber of Digital Economy, Expand North Star is the world’s biggest event for startups and investors and will take place in Dubai during October 2024.

Dubai Chamber of Digital Economy partnered with the Emirates Group to host the team at its stand. The Group’s IT team conducted three Career Clinics aimed at attracting the brightest digital talent to Dubai.