Jakarta, MINA – The United Arab Emirates (UAE) through the Dubai Chamber of Commerce (Dubai Chambers) began a trade mission to Southeast Asia, where the first country it visited was Indonesia.
This trade mission is expected to increase annual non-oil bilateral trade between the UAE and Indonesia to US$10 billion in the next five years.
President and CEO of Dubai Chambers, Mohammad Ali Rashed Lootah, said that the trade mission being held indicated that trade cooperation between the two countries was getting stronger.
“This trade mission aims to encourage local companies to take advantage of the various trade and investment opportunities available in Indonesia,” said Ali Rashed at the Global Business Forum entitled “New Horizons: Doing Business with Indonesia” in Jakarta on Monday.
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According to him, Indonesia is one of the countries that has great potential because of its strategic location in Asia.
Ali Rashed said that the signing of the Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA) last year had removed barriers to trade in various kinds of goods and services between the two countries.
“The market between Indonesia and the UAE has been strong for several decades,” he said.
Ali Rashed explained that during 2023, non-oil and gas bilateral trade between the two countries will reach US$3.5 billion or achieve solid growth of 7.7 per cent compared to the previous year.
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As relations improve, in June 2023, Dubai International Chamber, launched a new international representative office in Jakarta with the aim of further strengthening bilateral trade and investment relations.
The Dubai International Chamber of Commerce, one of three chambers operating under the umbrella of the Dubai Chambers, embarked on a trade mission to Southeast Asia from May 5 to 10.
The chamber is leading a delegation of local UAE companies to Indonesia and Vietnam as part of the ‘New Horizons’ initiative, which supports the expansion of Dubai-based businesses into global priority markets.
As part of its preparations, the chamber hosted a special briefing session for delegation members to discuss the agenda for the upcoming mission.
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Delegates will participate in a series of pre-arranged B2B meetings and benefit from networking opportunities with company representatives from Indonesia and Vietnam.
Additionally, participants engaged in in-depth dialogue with key public and private sector stakeholders in both countries.
The ‘New Horizons’ trade mission initiative itself was initiated by the UAE last year as part of the Dubai International Chamber’s efforts to support local companies in building their commercial activities in new global markets.
This initiative is aligned with Dubai Chambers’ strategic priority to support the expansion of Dubai businesses into global markets and will play an important role in achieving the goals of the Dubai Economic Agenda (D33). (T/RE1/P2)
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