Dubai Chambers has signed a Memorandum of Understanding (MoU) with the London Chamber of Commerce and Industry to support the growth and diversification of bilateral economic and investment ties. The agreement aims to strengthen connections between the business communities in Dubai and London and foster enhanced collaboration on joint initiatives.

Under the terms of the MoU, Dubai Chambers will assist London-based companies from diverse sectors with expanding and growing their operations in Dubai.

The agreement will also contribute to the development of trade and investment relations at the local and regional levels, leveraging Dubai as a hub.

Similarly, the London Chamber of Commerce and Industry will provide support to investors and businesses from Dubai and facilitate investments and partnerships within London’s business community.

The agreement also outlines cooperation in organising and participating in trade fairs, investment missions, conferences, and exhibitions, as well as the sharing of trade and economic data.
The MoU was signed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Karim Fatehi MBE, Chief Executive of the London Chamber of Commerce and Industry.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Dubai Chambers is committed to strengthening international partnerships and building constructive relationships that cement Dubai’s position as a leading global hub for trade and investments."

"We aim to enhance ties and foster collaboration to drive business growth and open new horizons for expansion into regional and global markets. Through these efforts, we contribute to building bridges of cooperation with business communities around the world, supporting economic growth and creating new opportunities that align with the aspirations of investors and businesses across diverse sectors.”

Karim Fatehi MBE, Chief Executive, London Chamber of Commerce and Industry, said: “This MoU is a testament to what can be achieved when visionary leaders, members and communities come together to build a shared future. Let us continue to work hand in hand, innovate together, and shape a future where the strength of our collaboration is the foundation of our shared success.”
Dubai Chambers is dedicated to supporting the goals of the Dubai Economic Agenda (D33), which aims to double the emirate’s economy over the coming decade and position Dubai among the top three cities globally.

Dubai Chambers’ strategic priorities include enhancing Dubai’s favourable business environment, attracting international businesses and investments to Dubai, and driving the international expansion of Dubai Chambers’ members, as well as accelerating the growth of Dubai’s digital economy, increasing the effectiveness of advocacy, and sustaining a climate of institutional and customer excellence.

Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking 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 of Commerce 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 Chambers has signed a Memorandum of Understanding (MoU) with HSBC Bank Middle East Limited to support the expansion of local companies into global markets and enhance the ability of international companies to establish and grow their businesses in Dubai.

Under the terms of the MoU, the two parties will collaborate to explore banking services for international companies establishing their operations in Dubai with the support of Dubai Chambers, as well as general services for Dubai’s business community.

The agreement is designed to advance the growth of local and international companies operating in Dubai and support their expansion at the local, regional, and global levels.

HSBC will provide services including global trade finance and local account opening.
Meanwhile, Dubai Chambers will support HSBC’s global clients who are interested in investing in Dubai and growing their businesses from the emirate.

The MoU was signed as part of the Global Partnerships Programme, an initiative launched to accelerate Dubai Chambers’ business expansion and attraction efforts through collaborations with world-class service providers across eight trade categories.

The Global Partnership Programme supports the objectives of the ‘Dubai Global’ initiative, which seeks to attract foreign direct investments (FDI) to the emirate and support Dubai-based companies in exploring new business opportunities.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated, “Dubai Chambers is committed to supporting local companies in expanding into promising international markets and helping businesses grow their operations. This collaboration will contribute to enhancing our efforts to accelerate the growth of companies across diverse sectors and attract global investments to Dubai.”

Stephen Moss, Chief Executive Officer, HSBC Middle East, North Africa and Türkiye, commented, “Dubai has grown to become one of the world’s busiest business and wealth hubs and the power of its international connectivity is reflected in the increasing trade activity across traditional and emerging trade corridors, in particular with Asia. Combining HSBC’s global reach with Dubai Chambers’ local expertise will further accelerate the growth of companies entering in and growing from Dubai.”

Meanwhile earlier Dubai Chambers and Standard Chartered signed a Memorandum of Understanding (MoU) to enhance collaboration aimed at fostering the growth of UAE businesses and supporting their expansion into promising global markets.

Under the terms of the MoU, both parties will cooperate to provide access to integrated banking services for international companies establishing their operations in Dubai with the support of Dubai Chambers, as well as for the local private sector. The agreement will enhance the competitiveness of businesses in the emirate and help facilitate their growth and expansion across local and international markets. As part of the agreement, Standard Chartered will offer trade finance services to UAE businesses seeking to expand internationally.

The Bank will leverage its global network to guide Dubai-based businesses in setting up accounts and provide similar support to multinational companies looking establish bank accounts in Dubai. Dubai Chambers will support Standard Chartered’s clients worldwide who are interested in establishing a presence in Dubai and expanding their operations from the emirate.

The agreement was signed as part of the Global Partnerships Programme, an initiative launched to accelerate Dubai Chambers’ business expansion and attraction efforts through collaborations with world-class service providers across eight trade categories.

The Global Partnership Programme supports the objectives of the ‘Dubai Global’ initiative, which seeks to attract foreign direct investments (FDI) to the emirate and support Dubai-based companies in exploring new business opportunities.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “This agreement aligns with our ongoing efforts to consolidate Dubai’s pivotal role in the global financial and business landscape. We remain committed to empowering both local and international companies to thrive in Dubai and expand into promising global markets, while simultaneously attracting foreign investments to the emirate.”