Dubai International Chamber consolidates its Africa presence

Dubai International Chamber has further solidified its presence in Africa by opening its fifth office on the continent, this time in Johannesburg, South Africa. This expansion signifies the chamber's commitment to strengthening trade and investment relations between South Africa and Dubai. In a recent interview with CNBC Africa, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, discussed the objectives, anticipated growth, key sectors of interest, trade incentives, and future plans for the chamber. With a significant increase in the number of South African companies registered with the Dubai Chamber of Commerce, currently standing at 777 companies, reflecting a 77% growth since 2016, Lootah highlighted the bilateral interest between the two destinations. The opening of the new office in Johannesburg aims to further facilitate trade and investment activities between Dubai and South Africa. The trade value between the two regions stands at 6.1 billion US dollars, showing an 11% increase from the previous year. The establishment of a dedicated office in Johannesburg is expected to propel this growth even further. In terms of key sectors of interest for South African companies, Lootah emphasized industries such as agriculture, mining, and other high-potential sectors. Dubai has been exporting materials like copper, machinery, and precious stones to South Africa, while also eyeing opportunities to import agricultural products, processed foods, fruits, vegetables, and minerals from South Africa. Dubai's robust logistics infrastructure and connectivity via sea and air freight make it an attractive hub for trade. To attract more South African companies to Dubai, the chamber offers a package of services and incentives, highlighting Dubai's value proposition as a global trade destination. Lootah underscored Dubai's connectivity and infrastructure advantage, citing strong players like DP World and Emirates Airlines, which have a vast network in Africa. These advantages position Dubai as an ideal gateway for South African companies looking to expand globally. Beyond South Africa, Lootah shared Dubai Chamber's plans to expand its presence in other African markets, ASEAN, Latin America, and Europe. The chamber's new initiative, Dubai Global, aims to establish trade promotional offices to support Dubai-based companies in going global and attracting foreign direct investment. By tapping into markets across Africa, ASEAN, Latin America, and Europe, Dubai Chambers aims to further enhance Dubai's position as a global trade hub. With ambitious growth plans and a focus on key sectors, Dubai International Chamber's expansion in Africa presents new opportunities for trade and investment between the two regions. The chamber's efforts to strengthen ties with South Africa and other emerging markets reflect Dubai's strategic vision to become a key player in the global trade landscape.