The number of companies from the Association of Southeast Asian Nations (ASEAN) registered with Dubai Chamber has increased by 35.5 percent since 2018 to exceed 3,300, according to Abdulaziz Al Ghurair, Chairman of Dubai Chambers.
Al Ghurair stressed that there were even more possibilities that were opening between Dubai and the 10-member states 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.
The chairman highlighted the World Logistics Passport as an initiative 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 announcement was made by Al Ghurair during his opening speech at the first Global Business Forum (GBF) ASEAN, which commenced on Wednesday at Expo 2020 Dubai.
(Writing by Seban Scaria; editing by Daniel Luiz)
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