Dubai Chamber of Commerce Establishes Indonesian Business Council
The Dubai Chamber of Commerce (DCC), a key player in the economic landscape of the UAE, has recently announced the establishment of the Indonesian Business Council. This initiative is part of a broader strategy to enhance trade and investment relations between Dubai and Indonesia, fostering new business opportunities and expanding collaboration between the two vibrant business communities.
A Growing Network of Business Councils
With the launch of the Indonesian Business Council, the total number of Business Councils operating under the DCC’s umbrella has now reached 59. This expansion signifies the chamber’s commitment to creating a robust network that supports various nationalities and industries, facilitating dialogue and cooperation among businesses from different countries.
Strengthening Trade Ties
The establishment of the Indonesian Business Council comes at a time when Dubai’s appeal to Indonesian businesses and investors is on the rise. Recent statistics reveal that non-oil bilateral trade between Dubai and Indonesia surpassed Dhs10 billion during the first nine months of 2024. This impressive figure underscores the strengthening commercial ties between the two markets, highlighting the potential for further growth and collaboration.
Moreover, the number of Indonesian businesses registered as active members of the Dubai Chamber of Commerce has seen remarkable growth, achieving an annual increase of 60% last year, culminating in a total of 160 members by the end of December 2024. This surge reflects the increasing interest of Indonesian entrepreneurs in the opportunities available in Dubai.
First Annual General Meeting
The inaugural annual general meeting of the Indonesian Business Council was recently held at the Dubai Chambers’ headquarters. During this meeting, members engaged in discussions aimed at enhancing collaboration, organizing bilateral business events, and exploring emerging opportunities. The exchange of expertise and valuable market insights was also a focal point, emphasizing the council’s role in fostering a supportive environment for businesses.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, highlighted the importance of Business Councils in strengthening trade and investment ties. She stated, “Business Councils play a vital role in providing interactive platforms for dialogue and cooperation between business communities.” The commitment to empowering these councils is seen as a crucial step in supporting companies in exploring new opportunities and enhancing the competitiveness of the private sector, ultimately contributing to sustainable economic growth in Dubai.
Expanding Presence in Indonesia
In line with its efforts to bolster trade and investment ties, the Dubai International Chamber inaugurated a representative office in Jakarta in 2023. This strategic move aims to facilitate closer connections between Dubai-based companies and Indonesian firms. Building on this momentum, the chamber organized 200 bilateral business meetings in Jakarta in May 2024, connecting 17 Dubai-based companies with Indonesian counterparts as part of a trade mission to Southeast Asia.
The ‘Doing Business with Indonesia’ forum, held during this mission, attracted an impressive 472 participants, including high-ranking officials and business leaders. This strong turnout reflects the growing interest among Indonesia’s private sector in collaborating with Dubai’s business community, further solidifying the foundation for future partnerships.
The Role of Business Councils
The Business Councils under the Dubai Chamber of Commerce serve as vital representatives of businesses and investors operating in Dubai from specific countries. They focus on boosting bilateral trade and investment relations, aiming to strengthen strategic economic partnerships. By providing a platform for dialogue and collaboration, these councils play a crucial role in enhancing the overall business environment in Dubai.
A Legacy of Support
Established in 1965, the Dubai Chamber of Commerce continues to represent, support, and protect the interests of the business community in Dubai. Its mission is to create a stimulating business environment and promote the emirate as a global business hub. The chamber operates under the umbrella of Dubai Chambers, which was restructured under a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Recent Initiatives with Bangladesh
In addition to the establishment of the Indonesian Business Council, Dubai Chambers has also successfully organized the Dubai-Bangladesh Business Briefing. This event aimed to enhance bilateral economic and investment relations, fostering cooperation between the business communities in both markets across key sectors. A Memorandum of Understanding (MoU) was signed between Dubai Chambers and the Dhaka Chamber of Commerce & Industry (DCCI) to broaden bilateral cooperation and promote efforts to diversify and expand mutual trade and investments.
The MoU outlines comprehensive support to strengthen connections between exporters and importers from Dubai and Dhaka, including facilitating business-matching services. It also encourages joint ventures and collaborative investments between private sector companies in both markets, further enhancing the economic ties between Dubai and Bangladesh.
Commitment to Growth
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the organization’s commitment to extending comprehensive support to businesses and investors from various countries, including Bangladesh. He stated, “Dubai Chambers is committed to helping businesses grow their operations in Dubai and leverage the emirate’s competitive advantages.” This commitment reflects the chamber’s ongoing efforts to create a conducive environment for international businesses, ensuring that Dubai remains a preferred destination for investment and trade.
