Promoting international collaboration and economic growth.

Dubai International Chamber, a prominent chamber of commerce operating under Dubai Chambers, unveiled its new international representative office in Jakarta earlier this month on June 7, 2023. The inauguration of this office marks a significant milestone, bringing the total number of Dubai International Chamber's global offices to 18, spread across Africa, Latin America, Eurasia, India, and China.

This strategic move is part of the ambitious "Dubai Global" initiative, spearheaded by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of the Executive Council. The initiative aims to establish 50 integrated commercial representative offices worldwide by 2030, attracting foreign investment, skilled workforce, and new business ventures to Dubai. It also reinforces Dubai's position as a leading global commercial hub. Additionally, this expansion opens doors for Dubai-based companies to explore 30 priority markets abroad.

The opening ceremony in Jakarta saw the presence of distinguished guests, including Bahlil Lahadalia, the Minister of Investment/Head of the Indonesian Investment Coordinating Board (BKPM); H.E. Ahmed Ali Al Sayegh, the Minister of State of the United Arab Emirates; Bernardino Vega, the Deputy Chairman of International Relations at the Indonesian Chamber of Commerce and Industry (KADIN); and Hassan Al Hashemi, the Vice President of International Relations at Dubai Chambers.

H.E. Ahmed Ali Al Sayegh expressed his enthusiasm for the representative office, emphasizing its role in strengthening bilateral ties between the two nations. He encouraged Indonesian corporations, regardless of their size, to leverage Dubai Chambers' resources, knowledge, and support to achieve their investment and trade goals. This new partnership presents an opportunity for both countries to foster a prosperous and sustainable future.

Hassan Al Hashemi, Vice President of International Relations at Dubai Chamber, highlighted the importance of Indonesia as a key strategic market. He emphasized that the Jakarta office would serve as a vital platform for building cross-border partnerships with one of the world's largest economies. The focus will be on facilitating trade and investment growth, leveraging the Comprehensive Economic Partnership Agreement (CEPA) to foster significant expansion in exports and imports between the two nations.

The signing of the Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the UAE last year marked a new chapter in their strategic cooperation. The agreement aims to enhance bilateral trade, with a target of increasing the total value from approximately AED 11 billion in 2021 to AED 36.7 billion within five years. The elimination or gradual reduction of tariffs on nearly 99% of commonly traded commodities between the two countries has already shown positive results.

Dubai Customs' statistical data demonstrate the impact of the agreement, as Dubai's non-oil trade with Indonesia reached AED 11.9 billion in 2022, reflecting a remarkable year-on-year growth of 26.6%. The opening of the representative office in Jakarta will undoubtedly unlock new opportunities for exporters and businesses in both countries.

With 192 Indonesian companies already registered with Dubai Chamber since 2016, a significant increase of 204.8%, Dubai International Chamber aims to further strengthen its commercial ties by identifying and capitalizing on trade and investment prospects in key sectors such as garments, cocoa butter, aluminum, and agribusiness.

This expansion aligns with Dubai Chambers' continuous efforts to attract companies to Dubai. During the inauguration, the visiting delegation engaged with ten multinational companies in sectors such as logistics, software and technology, and pharmaceuticals.

The team in Indonesia will now focus on fostering strong relationships with key stakeholders in both the public and private sectors. They will actively support Indonesian companies in entering the Dubai market, facilitating international expansion through Dubai. Moreover, the Jakarta office will serve as a vital communication and economic cooperation channel between the United Arab Emirates and Indonesian businesses. Collaborative efforts with partners in Indonesia will include hosting networking events, business seminars, and business matching sessions to foster mutually beneficial opportunities.

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