Dubai Chamber of Commerce and Industry and Tel Aviv Chamber of Commerce, represented by the Federation of Israeli Chambers of Commerce, have signed a strategic partnership agreement that paves the way for bilateral cooperation. Under the terms of the agreement, both chambers will produce a joint study identifying synergies and sectors of mutual interest; create a roadmap of virtual events; commit to organising a business delegation and mutual visits; host a joint business forum; and support new businesses, startups, and scale-ups with readily available resources and programmes. Other aspects of the partnership cover the chambers’ current activities, initiatives, and programmes in areas such as research, networking, arbitration, mediation, education, training, women-in-business, best-practices, sustainability and advocacy. The partnership also brings benefits for the public and private sector across the Middle East region by opening the door for cross-border collaboration across economic fields. The agreement between the two sides is part of a broader engagement between the UAE and Israel to further peace, dialogue and stability and promote sustainable development . Hamad Buamim, President & CEO of Dubai Chamber, described the agreement as an important development that will build new bridges between the two business communities and establish a framework for bilateral economic cooperation and mutually-beneficial partnerships. He noted that the agreement reflects the strong commitment of leaders on both sides to collaborate in a wide range of economic sectors, share knowledge and capitalise on mutual business opportunities. Furthermore, the partnership improves prospects for economic growth in the region by creating new investment opportunities and contributing to enhancing the business environment, Buamim said. (Writing by Seban Scaria; editing by Daniel Luiz) seban.scaria@refinitiv.com Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. © ZAWYA 2020
