Dubai: Dubai International Chamber, part of the trio of chambers under Dubai Chambers, has inaugurated a new international representative office in Dhaka, aiming to solidify and enhance trade and investment relations between Dubai and Bangladesh’s business communities.
According to Bangladesh Sangbad Sangstha, the new office in Dhaka marks the chamber’s 35th international representative branch. This expansion aligns with the ‘Dubai Global’ initiative, which aspires to establish 50 such offices worldwide by 2030. The initiative is designed to bolster Dubai’s status as a premier global business hub by attracting foreign direct investment and assisting local companies in expanding into 30 priority markets internationally.
The official inauguration ceremony in Dhaka saw the presence of Abdulla Ali Abdulla Alhmoudi, Ambassador of the United Arab Emirates (UAE) to Bangladesh, and was attended by prominent figures from the Bangladeshi business community. Lutfey Siddiqi, the chief adviser’s special envoy for International Affairs, graced the event as the chief guest.
This development comes amidst increasing economic collaboration between Dubai and Bangladesh. The non-oil trade between these two regions hit $1.71 billion in 2024, reflecting a 9 percent growth from the $1.58 billion recorded in 2023.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, remarked on the occasion, highlighting Bangladesh as a dynamic market offering vast opportunities for Dubai-based companies. He stressed that the new office in Dhaka is a crucial step in fortifying the economic partnership between the two regions, aimed at fostering business connections, facilitating trade, and attracting investment, ultimately reinforcing Dubai’s global business hub status.
Lootah expressed confidence that the new office would pave the way for significant economic cooperation. The Dhaka office will advocate for the interests of companies in both Dubai and Bangladesh by boosting engagement with the local business community and strengthening ties with both public and private sector stakeholders.
Additionally, the office will emphasize Dubai’s competitive advantages as a global business hub, sharing critical investment information to assist Bangladeshi companies in accessing the Dubai market. It aims to help these companies leverage Dubai’s strategic position as a gateway for global expansion.
Furthermore, the new office will provide support and guidance to Dubai-based companies looking to expand into Bangladesh. It will offer market intelligence, identify business opportunities, and connect local firms with reputable stakeholders and potential partners to facilitate their market entry and operational growth in Bangladesh.