Latest news with #DubaiTrade
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai looks to boost economic ties to Thailand as trade soars to $6.5bn
Thai investments in Dubai have reached approximately $626m over the past five years, according to Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. He expressed optimism that these figures will continue to grow, supported by ongoing efforts to strengthen economic relations between Dubai and Thailand, including the recent opening of a new Dubai International Chamber representative office in the Thai capital, Bangkok. Lootah said the new office is part of the Dubai Chamber of Commerce's 'New Horizons' trade mission to Southeast Asia. Dubai-Thailand investments He described it as a strategic move to enhance the UAE business community's presence in the Thai market and to expand trade and investment opportunities with this dynamic economy. Lootah said that Thailand is among Dubai's leading trading partners in the ASEAN region. He said: 'Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides'. He also noted a significant increase in non-oil trade between Dubai and Thailand in recent years, which grew by 23 per cent to $6.5bn in 2024, up from approximately $5.3bn in 2023. This reflects the growing momentum in bilateral economic ties and underlines the strategic importance of the Thai market within Dubai Chambers' global expansion plans. The Bangkok office launch coincided with the trade mission and included 20 Emirati companies, which were introduced to Thailand's investment environment and market opportunities, with the aim of boosting commercial ties and supporting the international expansion plans of UAE businesses. Lootah emphasised that the Bangkok office is the latest addition to Dubai Chambers' expanding network of international offices, which aligns with the chamber's strategy to open 50 representative offices worldwide by 2030. This effort is intended to support Dubai's goals of broadening its foreign trade and cementing its position as a global hub for commerce and investment. He also reaffirmed Dubai Chambers' commitment to enabling local companies to access global markets and forge strategic partnerships that align with the emirate's economic vision and support the sustainability and growth of its key sectors.
Zawya
4 days ago
- Business
- Zawya
Thai investments in Dubai reach $626mln over five years
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced that direct Thai investments in the Emirate of Dubai have reached approximately $626 million over the past five years. He expressed optimism that these figures will continue to grow, supported by ongoing efforts to strengthen economic relations between Dubai and Thailand, including the recent opening of a new Dubai International Chamber representative office in the Thai capital, Bangkok. In statements to the Emirates News Agency (WAM) during the 'Doing Business with Thailand' forum held on the 29th May, part of Dubai Chambers' trade mission to the Philippines and Thailand, Lootah stated that the new office is part of the Dubai Chamber of Commerce's 'New Horizons' trade mission to Southeast Asia. He described it as a strategic move to enhance the UAE business community's presence in the Thai market and to expand trade and investment opportunities with this dynamic economy. Lootah said that Thailand is among Dubai's leading trading partners in the ASEAN region. 'Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides,' he said. He also noted a significant increase in non-oil trade between Dubai and Thailand in recent years, which grew by 23% to $6.5 billion in 2024, up from approximately $5.3 billion in 2023. This reflects the growing momentum in bilateral economic ties and underlines the strategic importance of the Thai market within Dubai Chambers' global expansion plans. The Bangkok office launch coincided with the trade mission and included 20 Emirati companies, which were introduced to Thailand's investment environment and market opportunities, with the aim of boosting commercial ties and supporting the international expansion plans of UAE businesses. Lootah emphasised that the Bangkok office is the latest addition to Dubai Chambers' expanding network of international offices, which aligns with the chamber's strategy to open 50 representative offices worldwide by 2030. This effort is intended to support Dubai's goals of broadening its foreign trade and cementing its position as a global hub for commerce and investment. He also reaffirmed Dubai Chambers' commitment to enabling local companies to access global markets and forge strategic partnerships that align with Dubai's economic vision and support the sustainability and growth of its key sectors.
Zawya
31-01-2025
- Business
- Zawya
Dubai Trade builds on next generation digital delivery order platform with TRADE+
Dubai Trade is evolving its Digital Delivery Order (DDO) platform to Trade+ as it continues to invest in enhancing the efficiency and speed of trade operations across Dubai's supply chain and logistics sectors. Trade+ facilitates the digital exchange of cargo release documents between shipping lines, freight forwarders, consignees and other trade stakeholders, significantly accelerating the cargo release process. With the Trade+ service available on the Dubai Trade Single Window for Trade and Logistics, businesses can achieve an average 90% reduction in transaction times, process higher trade volumes and expedite cross-border trade, completing tasks that once took up to 48 hours in under 10 minutes. As well as streamlining approvals, payments and document transfers, Trade+ also delivers environmental benefits by eliminating paper-based processes. With 100% paperless transactions, the service has saved an estimated 2.36 million documents from being printed in 2024 and substantially reduced carbon emissions associated with travel, fuel usage and congestion. Dubai Trade has invested considerable resources in creating Trade+ to ensure it meets the evolving needs of businesses. The platform will continue to be refined and developed to provide additional benefits and process improvements, further optimising the efficiency and experience of conducting trade in Dubai. The platform highlights Dubai Trade's commitment to transforming trade through digitalisation, aligning with Dubai's Economic Agenda D33 and objective to be a leading global trade and logistics hub, and supporting the Smart City vision, an initiative aimed at transforming the city into one of the most technology advanced and sustainable urban centres in the world.
