Dubai, Thailand to strengthen bilateral trade and investment

Nipa Nirannoot, Consul-General of Thailand to Dubai and the Northern Emirates, hosted a Thai luncheon at Pai Thai Restaurant, in honour of Mohammed Ali Rashed Lootah, President & CEO of Dubai Chambers, his top management team, and a delegation of Dubai-based business leaders who will visit Thailand under the 2025 New Horizons Roadshow to Thailand from May 27–31, 2025.

On this occasion, the Consulate-General also invited heads of Team Thailand agencies in the UAE — including the Thai Trade centre Dubai, Tourism Authority of Thailand Dubai Office, Thailand Board of Investment Office in Riyadh (covering the UAE), PTT MEA Co, and Siam Cement Group (SCG) International — as well as Thai entrepreneurs in Dubai from various sectors such as import-export, food and hospitality, wellness/spa, and fintech. Over 50 participants attended the luncheon on this special occasion.

This initiative by the Consulate-General aimed to reaffirm Thailand’s commitment to deepening bilateral economic cooperation, build rapport with the Dubai Chambers and over 25 participating companies heading to Thailand for their first official roadshow, and strengthen collaboration among Thai private sector in Dubai, laying the groundwork for reactivating the Thai Business Council in Dubai.

The Consul-General, the event host, delivered an opening remarks by welcoming Dubai Chambers’ New Horizons Roadshow delegation to Thailand as a timely step to boost bilateral trade and investment. She noted that this roadshow is part of the celebration of this year’s 50th anniversary of the establishment of Thailand – UAE diplomatic relations. With this momentum, she expressed her hope to see bilateral trade volume grow from $20 billion to $30 billion, as targeted.

She also highlighted the 9 per cent growth in non-oil trade in 2024 and an increase of UAE FDI to Thailand, which has seen 19 projects worth over $90 million in the past two years—including the first-phase Data centre investment by Damac Group and solar energy initiatives by CleanMax. Importantly, this visit will also witness the official inauguration of the Dubai International Chamber office in Bangkok.

During the luncheon, the Consul-General also introduced Team Thailand representatives and Thai business leaders to the Dubai delegation to facilitate future collaboration.

In return, Lootah expressed his appreciation to the Consulate-General for organising this meaningful networking platform. He emphasised Thailand’s position as a key partner that Dubai is committed to engaging with, which underlines the importance of this year’s official roadshow.

To commemorate the occasion, the Consulate-General presented Thai–UAE commemorative flag pins as a special gift to the guests, along with digital information kit on trade and investment opportunity in Thailand, ease of doing business in Thailand and Amazing Thailand 2025 campaign, as well as goody bags of Thai food products supported by The Thai Trade centre and Tourism Authority of Thailand in Dubai.

Meanwhile Dubai Chambers recently organised two legal workshops aimed at raising awareness among companies about shareholder agreement procedures and tax-related transactions, as well as the importance of participating in the Customer Councils workshops organised by the Federal Tax Authority.

The sessions were attended by 70 representatives from the private sector across diverse industries. The first workshop, presented in collaboration with Clifford Chance, focused on key considerations of a Shareholders’ Agreements (SHA). The session delved into the intricacies of structuring, governance, investor protections, and international investment implications within SHAs.

Participants gained a comprehensive understanding of best practices and essential elements involved in the negotiation and implementation of SHAs.

Key areas covered included the stages of a transaction and the role of SHAs, essential elements of an SHA, structuring joint ventures, governance and key reserved matters, term and exit strategies, non-compete and exclusivity clauses, and considerations related to anti-trust, foreign direct investment, taxation, sanctions, and export controls.

The second workshop was hosted in partnership with the Federal Tax Authority (FTA) and focused on the importance of participating in the Authority’s Customer Councils. These councils fall under the UAE government’s Customer Councils initiative, which aims to enhance the quality of government services by involving stakeholders in co-designing innovative experiences based on their feedback and insights.

Participants in this session also gained valuable insights into the process of submitting reconsideration requests for tax decisions, applying for waivers or instalment plans for administrative penalties, and had the opportunity to share their suggestions and recommendations during the session.