Latest news with #EconomicRelations
Arabian Business
02-06-2025
- 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
02-06-2025
- 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.
Washington Post
30-05-2025
- Business
- Washington Post
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
NEW DELHI — New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now,' calling them 'a breakthrough in our economic relationship.'
The Independent
30-05-2025
- Business
- The Independent
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now," calling them 'a breakthrough in our economic relationship.' India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products. Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year. Talks between India and New Zealand were taking place amid global trade tensions, after U.S. President Donald Trump's decision to impose now-paused reciprocal tariffs on imported goods from several countries, including India. Earlier this month, India and the United Kingdom clinched a trade deal. India is also engaged in trade talks with Washington. Peters, who met with India's Group of 20 emissary, Amitabh Kant, in New Delhi, said that India was New Zealand's 12th-largest partner in trade and 'we are determined that we're going to work to change that.' "Our strengths, from food and beverage products to agriculture, forestry, horticulture, education and tourism are world class. And our innovation in areas like outer space and renewable energy will find a welcoming partner in India," he said. Peters said that the relationship between the two countries extended to defense and security, calling it a 'priority for New Zealand in the Indo-Pacific." "During a time of great uncertainty, instability and disorder, we have taken steps to work more closely on matters of defense and security with India," he said.
Associated Press
30-05-2025
- Business
- Associated Press
New Zealand hails 'breakthrough' in trade talks with India, but no timeline for deal
NEW DELHI (AP) — New Zealand's deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn't provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now,' calling them 'a breakthrough in our economic relationship.' India and New Zealand began negotiations in March for a trade pact, and had aimed to sign a deal in 60 days. The deal will significantly bolster economic ties between the two countries, but it has faced delays because of differences over tariffs on dairy products. Bilateral trade between India and New Zealand stood at $1.7 billion in the 2023-24 financial year. Talks between India and New Zealand were taking place amid global trade tensions, after U.S. President Donald Trump's decision to impose now-paused reciprocal tariffs on imported goods from several countries, including India. Earlier this month, India and the United Kingdom clinched a trade deal. India is also engaged in trade talks with Washington. Peters, who met with India's Group of 20 emissary, Amitabh Kant, in New Delhi, said that India was New Zealand's 12th-largest partner in trade and 'we are determined that we're going to work to change that.' 'Our strengths, from food and beverage products to agriculture, forestry, horticulture, education and tourism are world class. And our innovation in areas like outer space and renewable energy will find a welcoming partner in India,' he said. Peters said that the relationship between the two countries extended to defense and security, calling it a 'priority for New Zealand in the Indo-Pacific.' 'During a time of great uncertainty, instability and disorder, we have taken steps to work more closely on matters of defense and security with India,' he said.
