Companies from the Association of Southeast Asian Nations find fertile business environment in Dubai to expand their operations.
- Dubai’s non-oil trade with ASEAN region reaches AED 4.04 bn over past 5 years
- Announcement made at the first-ever Global Business Forum ASEAN, which commenced today on the sidelines of Expo 2020 Dubai.
- High-level forum explores new avenues of economic cooperation between UAE and ASEAN markets.
Dubai, UAE – His Excellency Abdulaziz Al Ghurair, Chairman of Dubai Chambers, has revealed that the number of companies from the Association of Southeast Asian Nations (ASEAN) registered with Dubai Chamber has increased by 35.5% since 2018 to exceed 3,300 today.
The announcement was made by His Excellency during his opening speech at the first Global Business Forum (GBF) ASEAN, which commenced today (Wednesday, December 8) at Expo 2020 Dubai.
Bearing the theme The New Frontiers, GBF ASEAN is organised by Dubai Chamber under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The two-day forum aims to explores trade synergies build new bridges of economic cooperation between the UAE and ASEAN markets.
Discussing the already strong economic ties that exist between Dubai and the 10-member states that make up the ASEAN region, H.E. Al Ghurair stressed that there were even more possibilities that were opening up in the wake of the global pandemic, with enhanced cooperation and partnership the key to capitalising on trade and investment potential.
“Dubai-ASEAN non-oil trade in the last five years reached around $110 billion (AED 404 billion). Yet, there is huge potential to expand bilateral trade further and tap into existing synergies. In order 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,” he said.
During his speech, His Excellency drew attention to initiatives that Dubai has introduced to open up trade between the emirate and ASEAN countries, with the World Logistics Passport being one such development aimed at improving commerce between the regions.
“To encourage South-South trade, Dubai launched the World Logistics Passport under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. 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,” he said.
The inaugural GBF ASEAN is being held conjunction with Expo 2020 Dubai – the first world expo in the Middle East, Africa and South Asia (MEASA) region, and the largest event ever held in the Arab world.
GBF ASEAN, the latest addition to Dubai Chamber’s Global Business Forum series, aims to identify mutual growth opportunities between Dubai and ASEAN, both of which have shown resilience during the global pandemic. The forum features a comprehensive programme of keynote address, presentations, discussion panels and workshops all designed to explore ways of increasing economic partnerships in key areas.
