24 Dubai Firms Be a part of Dubai Worldwide Chamber’s New Horizons Commerce Mission to Kazakhstan – Enterprise – Economic system and Finance

Driving the enlargement of Dubai companies into Central Asia

24 Dubai Firms Be a part of Dubai Worldwide Chamber’s New Horizons Commerce Mission to Kazakhstan

• •    Lootah: “Kazakhstan is a key strategic buying and selling associate to Dubai and the UAE. In 2022, our members’ exports and re-exports to Kazakhstan had been comparatively low given the nice potential for bilateral commerce enlargement. Our mission goals at growing bilateral commerce and Dubai exports to Kazakhstan.”  
• •    119 complete variety of Dubai exporters to Kazakhstan in 2022, the objective is to discover new export channels for brand new sectors for the Chamber members.
• •    Greater than 180 B2B conferences had been facilitated in Astana and Almaty between Dubai-based firms collaborating within the mission and their counterparts from Kazakhstan.

Dubai, UAE – Dubai Worldwide Chamber, one of many three chambers working beneath Dubai Chambers, has arrived at Kazakhstan, the second vacation spot within the New Horizons Commerce Mission to Central Asia. The occasion introduced Dubai-based firms to debate exporting and investing within the Kazakh market whereas participating in a enterprise discussion board and a collection of high-level conferences with senior authorities officers, enterprise leaders and eminent buyers.

The big delegation comprising 24 Dubai-headquartered firms representing 16 financial sectors attended the enterprise discussion board in Astana, opened by Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers. The discussion board was attended by over 200 authorities officers and representatives from Kazakh firms fascinated by collaborating with Dubai-based firms.  Throughout a interval of two days, greater than 180 B2B conferences had been facilitated in Astana and Almaty between Dubai-based firms collaborating within the mission and their counterparts from Kazakhstan.

New Horizons is an initiative spearheaded by Dubai Worldwide Chamber to drive the worldwide enlargement of Dubai companies into new choose markets whereas selling Dubai as a thriving international funding hub for firms from these markets. It builds on the chamber’s ‘In Focus’ scheme, which brings private and non-private sector leaders of choose nations to Dubai to attach with Dubai companies and drive their curiosity in these markets as potential locations for international enterprise enlargement.

Each initiatives intention to help in driving members’ worldwide enlargement whereas supporting Dubai’s plan to extend the emirate’s overseas commerce to AED2 trillion by 2026. One of many Chamber’s key goals is to help 100 companies to develop globally inside the subsequent two years.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers stated: “Our rising commerce with Kazakhstan emphasizes the significance we should placed on constructing stronger bilateral commerce with nations in Central Asia. Kazakhstan is a key strategic buying and selling associate to Dubai and the UAE. In 2022, our members’ exports and re-exports to Kazakhstan reached AED192 million, a comparatively low determine given the nice potential for bilateral commerce enlargement.

Additional proof to this thrilling potential is a big 82% progress within the variety of Kazakh firms that joined Dubai Chamber of Commerce, from 351 in 2016 to 637 in 2022, in addition to a rise of complete Dubai exporters to Kazakhstan to 119 in the identical 12 months, a determine we wish to see develop. Our mission goals at growing bilateral commerce and Dubai exports to Kazakhstan.”

Sharing related sentiments, Ardak Zebeshev, Chairman of the Funding Committee, Ministry of International Affairs, the Republic of Kazakhstan, echoed, “Our joint work doesn’t cease there. Since 2011, the UAE has invested roughly US$2 billion in Kazakhstan. Presently, the commerce between Kazakhstan and the UAE is actively creating and amounted to US$632.6 million on the finish of 2022. Of this, imports from the UAE amounted to US$72.3 million.

I categorical my gratitude to the Dubai Worldwide Chamber crew for organizing this excellent occasion that can undoubtedly profit each our nations. I’m assured that not solely will it profit our already sturdy, pleasant and long-standing relationship however it’ll additionally contribute to the prosperity of the individuals in each nations.”

Along with a dialogue involving a number of officers and consultants from Kazakhstan’s customs, logistics and the banking sector, the enterprise discussion board additionally noticed a presentation on the funding alternatives in Kazakhstan by Azamat Kozhanov, Managing Director of Kazakh Make investments. A part of the commerce mission program included a go to to Astana Worldwide Monetary Middle and web site visits to the headquarters of a number of firms in Kazakhstan.

Key companions supporting the enterprise discussion board embody the UAE Embassy in Kazakhstan, QazTrade, Kazakh Make investments and the Chamber of Worldwide Commerce of Kazakhstan.

Firms collaborating within the commerce mission signify a number of financial sectors and actions together with constructing supplies, e-commerce, environmental and electrical fields, vogue and clothes, free zones, residence and resort furnishings, hospitality, medical tools and provides, perfumes, soaps and cosmetics, prescribed drugs, renewable vitality, monetary property, retail, safety printing, ocean freight and logistics in addition to FMCG.

There’s a excessive international demand for uncommon earth metals as a result of rising imports of electrical vehicles and photo voltaic panels. Kazakhstan is wealthy with mineral merchandise and Dubai has excessive demand for these metals. This will create an funding alternative for Dubai’s metallic manufacturing firms (e.g., copper, silver, zinc, gold) to supply semi-manufactured or closing metallic merchandise in Kazakhstan.

Different alternatives in Kazakhstan embody agriculture and tourism. The nation has 210 million hectares of arable land which creates massive funding alternatives for UAE meals firms. Furthermore, COVID-19 has boosted ecotourism in Kazakhstan, which may create new funding alternatives for Dubai firms.

With logistics being one of many vital sectors of the UAE’s economic system, there’s additionally a chance for Kazakhstan to play an vital position as a transit nation within the China-Europe route. Rising volumes of worldwide transit site visitors via Kazakhstan creates massive funding alternatives for Dubai firms.

Dubai Worldwide Chamber permits Dubai companies to develop efficiently to international markets and ensures the emirate is a magnet for overseas direct funding supported by a robust community of Dubai Worldwide Places of work worldwide. Dubai Worldwide Chamber has a mandate to help Dubai’s goal of boosting overseas commerce from AED1.4 trillion to AED2 trillion by 2026.

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