Dubai Chambers Targets $10 Billion Non-Oil and Gas Trade in Indonesia

Jakarta, MINA – The United Arab Emirates (UAE) through the Dubai International Chambers, one of the three companies in the chamber of commerce operating under the umbrella of Dubai Chambers, brought a number of investors to Jakarta for a bilateral business meeting during a trade mission in Southeast Asia.

Through this trade mission, it is targeted that, in the next five years, annual non-oil and gas bilateral trade between Dubai and Indonesia can increase to reach US$ 10 billion (or Rp. 159.6 trillion–exchange rate Rp. 16,080).

It was revealed at the Global Business Forum where 17 companies from Dubai met with Indonesian business people who are members of the Indonesian Chamber of Commerce (Kadin) in Jakarta on Monday.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, in his remarks, said he was committed to building cooperation between the business communities in Indonesia and Dubai that is profitable and achieves common goals.

“Last year, we opened an office in Jakarta, which focuses on strengthening relationships with stakeholders from the public and private sectors in Indonesia,” he said.

According to Ali Rashed, his team also provides comprehensive support to local companies looking to expand their business to Dubai and utilize the UAE’s strategic location as a launchpad for their global ambitions.

In addition, Salem Al Shamsi, Vice President Global Markets at Dubai Chambers, presented Dubai’s economic landscape and the competitive advantages the emirate offers to a number of Indonesian companies.

Non-oil and gas sectors being explored for trade cooperation between the two countries include the food and beverage sector, construction, health care, information technology, environmental solutions, human resource management, perfume, and cosmetics.

Dubai’s non-oil and gas trade with Indonesia has achieved growth of 53.6% over the past decade, increasing from USD 2.3 billion in 2014 to USD 3.5 billion last year.

Director General of National Export Development at the Ministry of Trade (Kemendag) Didi Sumedi is optimistic that the value of Indonesia’s trade with Dubai will continue to increase until it is estimated to reach 10 billion US$ in the next 2-3 years.

“Dubai is also considered a hub that is able to connect Indonesia with countries in the Middle East, Africa and other nearby countries,” he said.

Didi said Indonesia and Dubai need to increase trade volume, through various sectors ranging from trade diversification to services trade transformation to be able to realize this target.

As of the end of last year, 99 Indonesian companies were registered as members of the Dubai Chambers. By joining Indonesian companies, they gain various benefits from various business support and initiatives provided by the chamber of commerce.

At the Global Business Forum, Dubai International Chambers has also identified a number of sectors that have export potential from Indonesia to Dubai, including exports of wood panels, wood sheets, palm oil, clothing and cocoa butter.

The most promising sectors for investors from Dubai in Indonesia include the automotive industry, construction sector and agriculture, especially in the export of tropical fruit.

The forum with the theme “Doing Business with Indonesia” was held with support from the United Arab Emirates Embassy in Jakarta, the Indonesian Ministry of Investment, and Kadin.

The trade mission was organized as part of the ‘New Horizons’ initiative led by Dubai International Chambers, which aims to encourage the international expansion of Dubai-based companies and strengthen ties with promising global markets, one of which is Indonesia. (T/RE1/P2)

Mi’raj News Agency (MINA)