DUBAI, United Arab Emirates--(BUSINESS WIRE)--Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has inaugurated a new international representative office in Jakarta, Indonesia.
The opening of the chambers’ 18th international office comes as part of the ‘Dubai Global’ initiative, which was launched to establish 50 offices worldwide by 2030, attract new business and investments to Dubai, and reinforce the emirate’s position as one of the world’s leading commercial hubs.
The office was officially inaugurated today at a ceremony in Jakarta with the participation of H.E. Ahmed Ali Al Sayegh, Minister of State to the UAE Cabinet; H.E. Bahlil Lahadalia, Minister of Investment for Indonesia; and Hassan Al Hashemi, Vice President of International Relations at Dubai Chambers.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Indonesia remains a key strategic market for us, and this move creates a crucial platform for building cross-border partnerships with one of the world’s largest economies. We will continue to work together to build momentum for further growth in trade and investments and leverage the CEPA agreement to achieve significant expansion in exports and imports.”
Last year, Indonesia and the UAE signed a Comprehensive Economic Partnership Agreement (CEPA) to increase the value of bilateral trade to AED36.7 billion annually within five years.
According to statistics from Dubai Customs, Dubai’s non-oil trade with Indonesia reached AED11.9 billion during 2022, representing an impressive year-on-year growth of 26.6%. The two nations have eliminated or will gradually reduce tariffs for almost 99% of their commonly traded commodities.
The number of Indonesian companies registered with Dubai Chamber of Commerce stood at 192 at the beginning of this year, having grown by an impressive 204.8% since 2016.
About:
Dubai International Chamber, one of three chambers operating under the umbrella of Dubai Chambers, was established to promote Dubai as a global business hub, attract multinational companies and expand the emirate’s trade ties with promising markets. The Chamber has a mandate to meet His Highness Sheikh Mohammed’s ambition to increase Dubai’s foreign trade from AED 1.4 trillion to AED 2 trillion by 2026.
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*Source: AETOSWire
