Abdulaziz Al Ghurair
Remove all trade barriers, says Abdulaziz Al Ghurair, to build on the already high volumes of trade between Dubai and ASEAN nations. Image Credit: Supplied

Dubai: The number of companies from the Association of Southeast Asian Nations (ASEAN) registered with Dubai Chamber has increased 35.5 per cent since 2018 to exceed 3,300.

“Dubai-ASEAN non-oil trade in the last five years reached around $110 billion (Dh404 billion),” said Abdulaziz Al Ghurair, Chairman of Dubai Chambers. “Yet, there is huge potential to expand bilateral trade further and tap into existing synergies. For this to happen, we must work together to remove trade barriers, facilitate ease of doing business and identify new areas where we can align our ambitions.”

Discussing the already strong economic ties that exist between Dubai and the 10-member states – including Japan, the Philippines, etc. - that make up the ASEAN region, Al Ghurair stressed that there were even more possibilities that were opening up in the wake of the pandemic, with enhanced cooperation the key to capitalising on trade and investment potential.

He was speaking at the Global Business Forum (GBF) ASEAN – a conference that focuses on trade and commerce between Dubai and the ASEAN. Al Ghurair drew attention to initiatives that Dubai had introduced to open up trade between the emirate and ASEAN countries, with the World Logistics Passport being one such development aimed at improving commerce.

“To encourage South-South trade, Dubai launched the World Logistics Passport - I call on ASEAN countries that have not yet joined the World Logistics Passport to do so to utilise this network to expand trade links and boost their global profile and reach,” Al Ghurair said.