Abdul Aziz Al Ghurair, Chairman of Dubai Chambers. Image Credit: Supplied

Dubai Chambers has unveiled plans to establish new country-specific business councils operating in Dubai and expand their roles to support ongoing efforts to boost the emirate’s non-oil foreign trade.

The business councils will also create new channels of economic cooperation between business communities in the emirate and promising markets around the world.

The announcement was made by Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, who addressed more than 150 ambassadors, consul generals and commercial attachés at the Diplomatic Circle Dinner 2022.

Al Ghurair also called on ambassadors and members of the diplomatic community in the UAE to offer their support in establishing several new business councils.

“We are putting a new comprehensive framework into place that will restructure and expand the role of business councils in Dubai to boost its foreign trade and promote cross-border business opportunities for member companies. These councils will cover markets of strategic importance to Dubai and support us as we further expand our presence across Africa, Latin America and the Middle East and attract more companies and investment from these regions,” said Al Ghurair.

Al Ghurair encouraged existing business councils to leverage Dubai International Chamber’s vast network of international offices to their benefit, operate more effectively and provide their members access to attractive growth opportunities in the UAE and abroad.

He also revealed that Dubai Chambers would organise a special forum in 2023 to engage members of business councils, as well as representatives from embassies, consulates and foreign trade and commercial offices operating in the UAE and invited participants to attend the event.

Juma Mohammed Al Kait, Assistant Undersecretary for International Trade Sector - UAE Ministry of Economy, elaborated on the UAE’s strategic plans to enhance the regulatory environment, open new export markets, adopt advanced technologies and ensure an ideal ecosystem for talent and entrepreneurs

He stated that the UAE is building a modern economy as a global hub for trade and foreign investment in line with the government target of doubling the size of the economy from Dh1.4 trillion to Dh3 trillion by 2030. He highlighted the importance of bilateral trade deals and comprehensive economic partnership agreements signed between the UAE and leading economies in accelerating trade, strengthening supply chains, creating investment opportunities and boosting innovation.

“The UAE is ready - more than ever - to do business with the world and form mutually beneficial partnerships that promise brighter, better future for all,” Al Kait said.