Dubai Chamber members’ exports, re-exports reach Dhs71.7b in Q1

Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has announced several achievements in the first quarter of 2023, as part of its ongoing drive to support Dubai’s development and economic aspirations, boost the competitiveness of the emirate and its private sector, and contribute to the goals outlined in the ambitious Dubai Economic Agenda (D33).

Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, commented, “Our primary focus at the Dubai Chamber is to achieve the strategic priorities we have set as part of our strategy for the 2022-2024 period. Shaping the future requires concerted efforts and a unified vision to achieve the goals needed for the stages ahead.”

The Chamber revealed that 15,366 new member companies registered with the Dubai Chamber of Commerce in Q1 2023. This represents a record growth of 48.7 per cent as against the same period last year, underlining the emirate’s strong appeal among investors and the competitiveness of its business environment.

The total exports and re-exports reported by Dubai Chamber of Commerce members reached Dhs71.7 billion during Q1 2023, around 17.3 per cent higher than the Dhs61.1 billion recorded in Q1 2022. This positive growth reflects the Chamber’s continuous efforts to support its members and their commercial activities in global markets through its network of international offices, a full calendar of events, and economic studies on business opportunities.

The Chamber issued 182,266 Certificates of Origin during Q1 2023, achieving annual growth of around 2 per cent as against the same period last year. In addition, 1,527 ATA Carnets worth Dhs1.1 billion were issued and received in Q1 2023.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated, “Dubai Chambers remains committed to supporting the private sector and enhancing its competitiveness to achieve our wise leadership’s vision and strengthen partnerships between the public and private sectors.”

The year’s first quarter also saw the Dubai Chamber of Commerce achieve its goal of establishing more than 100 Business Groups representing various sectors and economic activities in the emirate. The groups seek to enhance the private sector’s contribution toward drafting policies and legislation related to the local business environment. Currently, there are 105 Business Groups, reflecting a high level of private sector representation, the agility of the emirate’s economy, and the notable role the private sector plays in supporting sustainable growth.

The Chamber reviewed more than 32 laws and drafted laws during the first three months of the year as part of its efforts to protect the interests of the business community and also received 18 cases for mediation.

Al Ghurair emphasised Dubai Chambers’ strong commitment to achieving its strategic objectives, which include improving the business environment in the emirate, increasing the effectiveness of advocacy, supporting members in expanding their businesses globally, attracting foreign business and investment into Dubai, growing the digital economy, and sustaining institutional and customer excellence. He also underlined the importance of enhancing the competitiveness of Dubai’s economy in line with the vision of the emirate’s wise leadership.

Lootah also revealed there would be numerous new initiatives in 2023 designed to bring added value to the emirate’s business community, in line with the chambers’ strategic priorities.

Dubai Chamber of Commerce also launched the Business Sectors Platform. The platform offers an innovative package of quality services designed specifically to meet the needs of Business Groups and Business Councils to enable them to operate effectively and achieve their objectives.

Dubai Chamber of Commerce works to support business activities in Dubai. The chamber plays a crucial role in representing, supporting, and protecting the interests of businesses in Dubai while exploring new ways to meet the evolving needs of the emirate’s dynamic and fast-growing business community.

Dubai Chambers has announced recently the opening of a new international office in Sydney, Australia, by Dubai International Chamber, one of the three chambers operating under Dubai Chambers. In addition, a Memorandum of Understanding (MoU) has been signed between Dubai Chambers and the Australia Arab Chamber of Commerce & Industry (AACCI).

The move is in line with Dubai International Chamber’s strategic objective to maximize business opportunities in priority markets globally and support the international business expansion plans of Dubai companies. The Sydney office marks the second new office inaugurated in 2023 and expands the Chamber’s global network to 17 representation offices around the world.