The opening comes as part of the ‘Dubai Global’ initiative, which seeks to attract new business, investment, and talent to the emirate while enabling Dubai-based companies to expand into priority international markets….reports Asian Lite News
Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has inaugurated a new representative office in Paris to boost trade and investment with France. The launch comes just days after the inauguration of the chamber’s new office in Italy, further strengthening its presence in Europe and increasing the total number of international representative offices to 24 across five continents.
The opening comes as part of the ‘Dubai Global’ initiative, which seeks to attract new business, investment, and talent to the emirate while enabling Dubai-based companies to expand into priority international markets. Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, Dubai Global aims to establish a powerful network of 50 representative offices around the world by 2030.
The inauguration ceremony for the new office was held with the participation of Her Excellency Hend Al Otaiba, the UAE Ambassador to France, and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, in the presence of distinguished representatives of the French business community.
Commenting on the launch of the Paris office, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “France is one of the strategically important global markets in which we are keen to establish our presence. Our network of international representative offices will play a key role in boosting Dubai’s non-oil foreign trade from AED 1.4 trillion to AED 2 trillion by 2026, in line with the goals of the emirate’s five-year foreign trade plan.”
Lootah added: “We remain committed to achieving our strategic priorities and strengthening our efforts to attract companies from France and the wider European region to Dubai, as well as assisting Dubai-based companies that wish to expand into France. The new office in Paris unifies our efforts to enhance the reach and resilience of Dubai businesses in global markets while supporting the Dubai Economic Agenda by attracting new foreign direct investment to the emirate.”
Hend Al Otaiba, the UAE Ambassador to France, commented: “Dubai International Chamber’s opening of a new Paris office is testament to the strength and dynamism of France-UAE trade relations. This milestone comes at a crucial moment in time as our economy is diversifying at full speed, presenting exciting new opportunities for French companies to expand their footprint in the UAE in fields varying from space and technology to health and luxury.”
472 French companies registered with Dubai Chamber of Commerce during the first seven months of 2023 alone, up 33% from the same period in 2022. This impressive growth brought the total number of member companies from France to 3,068, underlining the strong level of interest in Dubai among the French business community.
The value of non-oil bilateral trade between Dubai and France reached AED 24.6 billion during 2022, representing significant year-on-year growth of 33.7%.
Prominent sectors for trade between the UAE and France include aircraft and parts, machinery, precious stones and metals, perfumes and cosmetics, and pharmaceutical products. The new office in Paris will further strengthen an already robust commercial relationship by identifying and capitalising on high-potential trade and investment opportunities in areas such as cereals, dairy products, jewellery, and the automobile industry.
The Dubai International Chamber team in Paris will focus on building strong relationships with key public and private sector stakeholders, as well as providing comprehensive support for French companies seeking to enter Dubai and expand internationally through the emirate. The launch of the office creates new channels for communication and economic cooperation between the two markets and will strengthen cooperation with local partners to co-organise networking events, business seminars, and business matching events.
Dubai’s strategic location and world-class logistics facilities have established the emirate as a preferred trade hub for French companies with global ambitions. Offering easy access to over 2.2 billion consumers, Dubai serves as a gateway for businesses in France and the wider European continent looking to expand their footprints globally.