Dubai and Mexico to enhance trade, investment cooperation
- 22 Jun 2024
Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Mexican Business Council to boost bilateral trade and investment opportunities and strengthen the ties between the business communities in Dubai and Mexico.
The launch reflects Dubai’s growing attraction among Mexican companies and investors, with the number of companies from Mexico registered as active members of Dubai Chamber of Commerce reaching 108 at the end of Q1 of 2024.
The Business Council’s inaugural Annual General Meeting took place recently at Dubai Chambers’ headquarters. The meeting focused on the council’s key objectives, which include strengthening economic relations between Dubai and Mexico and building mutually beneficial partnerships. In addition, participants discussed the scheduled programme of events for the months ahead.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented: “We are committed to empowering Business Councils to contribute to increasing promising opportunities between the private sector in Dubai and business communities around the world. We aim to strengthen economic and investment partnerships across all sectors both locally and internationally as part of our drive to boost foreign trade and further strengthen Dubai’s position as a leading global business destination.”
The Business Councils under the umbrella of Dubai Chamber of Commerce represent the interests of companies and investors from specific countries operating in Dubai. Each council partners with the chamber to foster the sustainable growth of bilateral trade and investment between Dubai and the market represented.
The chamber is currently working to increase the number of Business Councils to support the objectives of the Dubai Economic Agenda (D33) by driving growth in foreign trade, and supporting the expansion of local companies into global markets.
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 Chambers 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 Dubai Chambers.
Meanwhile Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has successfully hosted the second quarterly roundtable meeting of Business Groups and Councils for 2024.
The meeting of the sector-specific Business Groups and country-specific Business Councils overseen by the chamber attracted representatives from private sector companies operating in the emirate.
The session created a valuable platform to highlight prospects for economic growth and explore the promising opportunities arising for the private sector across diverse industries.
Attendees were briefed on the chamber’s latest programmes and initiatives, together with its future plans to drive the success of the private sector and ensure an enabling environment that supports the sustainable growth of businesses in the emirate. Participants discussed ways to enhance the competitiveness of local companies and improve their performance in line with global economic developments. During the first quarter of 2024, Dubai Chamber of Commerce held 24 meetings with Business Groups and Business Councils, including the inaugural Annual General Meetings of the Polish Business Council and the Qazaqstan Business Council. The chamber also reviewed 33 laws and draft laws in cooperation with Business Groups during Q1 2024, with the resulting recommendations achieving an adoption rate of 45 per cent.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented: “Advancing the interests of the business community in Dubai remains among our top strategic priorities. We are committed to increasing the private sector’s contribution to Dubai’s economic success story by enhancing the role of Business Groups and Councils in improving the emirate’s favourable business environment, which helps promote the growth of companies across all sectors.”
The Business Groups and Business Councils operating under the umbrella of Dubai Chamber of Commerce ensure the representation of diverse business and economic sectors and are instrumental in facilitating productive dialogue between private sector stakeholders and government entities.