Sharjah Chamber highlights importance of accelerating women’s empowerment

The Sharjah-Europe Businesswomen Forum underscored the importance of accelerating women’s economic empowerment as a key driver of sustainable development.

Organised by the Sharjah Chamber of Commerce and Industry (SCCI) in cooperation with the European Women’s Association (EWA), the forum highlighted how access to resources and expertise is essential for businesswomen to establish and grow their entrepreneurial ventures.

It also stressed the significance of public-private partnerships and the role of chambers of commerce in supporting these efforts by offering platforms for networking, knowledge sharing, and exploring future funding opportunities for women-led businesses to expand their enterprises innovatively and sustainably.

These remarks were made during the second edition of the Sharjah-Europe Businesswomen Forum launched by the Sharjah Chamber in Brussels, Belgium. The event was attended by Halima Humaid Ali Al Owais, Board Member of SCCI, and Mohamed Al Sahlawi, the UAE Ambassador to the Kingdom of Belgium, the Grand Duchy of Luxembourg, and the European Union.

Also present were Antoine Delcourt, Ambassador of the Kingdom of Belgium to the UAE, and Yulia Stark, President of European Women’s Association (EWA). Senior officials and representatives from Sharjah government entities also participated, including Sharjah Entrepreneurship Center (Sheraa), Sharjah Business Women Council (SBWC), and the Supreme Council for Family Affairs (SCFA), along with leading Emirati and European women entrepreneurs.

Headed by Halima Humaid Ali Al Owais, the Sharjah Chamber’s delegation included Fatema Al-Muqarrab, Director of International Relations at SCCI; Mai Sultan bin Hadda Al Suwaidi, Head of Partnerships and International Cooperation at SCCI, and Mohebba Al Shamsi, Senior Executive of Events and Marketing at the Chamber.

During the Sharjah- Europe Businesswomen Forum 2024, several Memorandums of Understanding (MoUs) were signed between Sharjah entities and the European Women’s Association (EWA).

One notable agreement was signed by the Sharjah Chamber of Commerce and Industry. It is aimed at strengthening trade relations, fostering mutual economic cooperation, facilitating the exchange of trade delegations and economic data, supporting businesswomen, encouraging bilateral investments, and increasing collaborative activities between the private sectors of Sharjah and European businesses.

In her keynote speech at the forum, Halima Humaid Ali Al Owais emphasised that the UAE is committed to promoting women’s economic participation, as it looks upon the empowerment of women as an essential driver of a strong, diverse and resilient economy.

Al Owais noted that women in the UAE have made significant contributions and impact across the national economy. More than 25,000 Emirati businesswomen are registered with chambers of commerce and industry in the UAE, collectively managing investments of more than 16 billion US dollars in local and international markets.

She said that the Sharjah-Europe Businesswomen Forum, an initiative by the Sharjah Chamber of Commerce and Industry in collaboration with the European Women’s Association, has become “a beacon of entrepreneurial spirit and economic synergy” between the UAE and Europe.

“It is a pathway towards future sustainable partnerships that enables economic expansion and innovation on both sides”, she added.

For her part, Yulia Stark, President of EWA, highlighted the close connection between sustainability and gender equality, asserting that equality is fundamental to human progress. She noted that equality is not limited to a specific group or a particular demographic, but it encompasses 50% of the world’s population.

Emphasising the importance of women’s economic empowerment, Stark elucidated that businesses owned by women make a significant contribution to economic growth. Women reinvest 90% of their earnings and income into their families and communities, in contrast to the 35% reinvested by men, which highlights women’s pivotal role in promoting socio-economic development and advancing sustainable development goals.

Economic empowerment of women is expected to contribute an estimated 13 trillion USD to the global economy by 2030, particularly given that women represent 80% of global purchasing power. Furthermore, research indicates that women-led startups generate double the revenue of those led by men.

She concluded her speech by emphasising the need to unleash women’s potential in entrepreneurship and innovation.

Speaking on the occasion, Sara Belhaif Al Nuaimi, CEO of the Sharjah Entrepreneurship Center (Sheraa), said: “At Sheraa, we believe that entrepreneurship thrives in an inclusive environment that nurtures the entrepreneurial potential of individuals and invests in the skills of entrepreneurs. That’s why we are committed to offering an incubator for startups with pioneering ideas, not just in Sharjah and the UAE, but globally.”

“We look forward to exchanging expertise with institutions both regionally and internationally. Our participation in the Sharjah-Europe Businesswomen Forum aligns with our belief that empowering women is a key pillar of sustainable development and supports our efforts to provide resources and guidance to help women achieve greater success and expand their impact in their communities”, she added.

For her part, Mariam Bin Al Shaikh, Director of SBWC, stated that “collaboration and integration in roles and efforts represent one of the most effective strategies for driving substantial transformations in both the national and global economies. The outcomes are amplified when engaging with institutions and projects that share common goals and ambitious visions, as exemplified by our partnership with the European Women’s Association and various economic and commercial entities in Sharjah.”

“Our focus on increasing the share of women entrepreneurs in the UAE’s economy and the broader region is a crucial step toward advancing the local economy and supporting its diverse sectors. We are committed to representing Sharjah in international arenas to open new horizons for cooperation and collaboration with counterpart institutions worldwide, while also leveraging the experiences and strategies of international organisations in empowering women in business”, she added.

Meanwhile, Fatema Al-Muqarrab, Director of International Relations at SCCI, said that the second edition of the Sharjah-Europe Businesswomen Forum not only marked a new era of cooperation between Sharjah and Belgium but also fostered enlightening discussions and active participation.

She pointed out that the active engagement of businesswomen in the forum helps facilitate international partnerships and explore opportunities for innovation and collaboration. Participants can also gain valuable insights into key business initiatives that contribute to enhancing their entrepreneurial experiences.

Highlighting the successful conclusion of the Sharjah Chamber delegation’s impactful visit to Belgium, Al-Muqarrab noted that visit agenda featured many critical economic stops, where they discussed ways to foster partnerships across diverse sectors.

She added that the forum motivated attendees to eagerly anticipate the next edition, which will be hosted in Sharjah next year, reinforcing its role as an inspiring platform for businesswomen and a channel for communication and knowledge exchange.

The inaugural session of this year’s Sharjah- Europe Businesswomen Forum discussed the importance of women’s economic empowerment through partnerships, recognising it as a key driver for fostering inclusive and sustainable economic growth. The discussion emphasised how partnerships can accelerate empowerment by capitalising on the resources and expertise of diverse stakeholders, including governmental entities and the private sector.

The second session focused on exploring future innovative funding solutions and opportunities for women-led businesses in today’s dynamic business landscape, with the aim to support the growth and sustainability of small and medium-sized enterprises (SMEs).

During both sessions, successful case studies of female entrepreneurs from the UAE and Europe were showcased, highlighting their experiences in investment decision-making and their effective utilization of incentives and opportunities available in the business environments of both regions.

WAM