Latest news with #MohammadAliRashedLootah
Hi Dubai
2 days ago
- Business
- Hi Dubai
Dubai Chambers Strengthens Trade Ties as Uzbek Delegation Explores Investment Opportunities
Dubai Chambers hosted a high-level Uzbek delegation on Wednesday, led by Uzbekistan's Minister of Investment, Industry, and Trade, H.E. Laziz Kudratov, to explore avenues for deepening economic cooperation during the Dubai-Uzbekistan Business Seminar. The event brought together around 100 business leaders and senior government officials from both nations, creating a platform to boost bilateral trade and investment. Discussions centered on expanding commercial ties and leveraging synergies between the two markets. H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, underscored the importance of building on the growing trade momentum. 'We are eager to explore new paths for collaboration and investment to drive mutual economic growth,' he said, reaffirming the Chamber's support for Uzbek businesses looking to scale globally through Dubai. The seminar featured presentations on market opportunities in both Dubai and Uzbekistan, with a shared focus on increasing trade flows. In 2024, non-oil trade between Dubai and Uzbekistan surged by 66% to exceed AED 11.1 billion. Key Uzbek exports to Dubai include precious stones, zinc, fruits, and copper, while Dubai exports electronics, vehicles, and cosmetics to Uzbekistan. Both sides explored ways to expand this exchange, aligning with their respective economic strengths. Uzbek business presence in Dubai is also rising. Over 700 Uzbek firms were active members of the Dubai Chamber of Commerce by the end of 2024 — a 34.5% increase year-on-year — with over 60 new companies joining in Q1 2025 alone. News Source: Dubai Media Office
Zawya
2 days ago
- Business
- Zawya
Dubai Chambers hosts Dubai-Uzbekistan Business Seminar
H.E. Mohammad Ali Rashed Lootah: ' Today's seminar creates a valuable opportunity to further build upon the impressive growth in trade between Dubai and Uzbekistan. ' Non-oil trade between Dubai and Uzbekistan achieved annual growth of 66% during 2024 to exceed AED 11.1 billion. The meeting focused on strengthening collaboration, supporting business expansion, and increasing bilateral trade and investments. Dubai, UAE – Dubai Chambers welcomed a high-level delegation from Uzbekistan today led by H.E. Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, to participate in the Dubai-Uzbekistan Business Seminar. The event, attended by around 100 businessmen, served as a platform to strengthen economic cooperation and explore opportunities to increase bilateral trade and investments. The seminar was attended by senior government officials from Uzbekistan, together with deputy ministers and governors of key Uzbek regions and prominent figures from the Dubai and Uzbekistan business communities. His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: 'Today's seminar creates a valuable opportunity to further build upon the impressive growth in trade between Dubai and Uzbekistan. We are eager to explore new paths for collaboration and investment to drive mutual economic growth. Dubai Chambers remains committed to supporting Uzbek companies in leveraging Dubai's world-class infrastructure and strategic location to accelerate their international expansion.' His Excellency emphasised Dubai Chambers' dedication to supporting the success of the Uzbek business community in Dubai and assisting Uzbek companies in harnessing the emirate's competitive advantages as a hub for connecting with global opportunities. The seminar included presentations on the business and investment landscapes in both Dubai and Uzbekistan, exploring mutually beneficial synergies and promising opportunities in both markets. Discussions also focused on increasing bilateral trade and investments between the two markets. The value of non-oil trade between Dubai and Uzbekistan achieved annual growth of 66% during 2024 to exceed AED 11.1 billion. Key Uzbek exports to Dubai include precious stones and metals, zinc, fruit and nuts, and copper, while Dubai's main exports to Uzbekistan include electronics, machinery, vehicles, precious stones and metals, and perfumes and cosmetics. During the event, the two sides discussed opportunities to boost trade exchange in line with the strengths and areas of high potential in both economies. The sessions during the event also highlighted the strong and growing presence of Uzbek companies in Dubai. By the end of 2024, over 700 Uzbek companies were registered as active members of the Dubai Chamber of Commerce, marking a robust year-over-year growth rate of 34.5%. This upward trajectory has continued into 2025, with over 60 new Uzbek companies joining the chamber during the first quarter alone, bringing fresh momentum to bilateral business ties. About Dubai Chambers Dubai Chambers is a non-profit public entity that supports Dubai's vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers. Follow us on: For more information, please contact: Mohamad Mouzehem PR & Corporate Communications Email:
Gulf Today
09-06-2025
- Business
- Gulf Today
Dubai Chambers empowered 600 business members in legal navigation
Dubai Chambers has successfully concluded a series of legal and compliance-focused events in May, designed to empower businesses with the knowledge needed to thrive in the UAE's dynamic regulatory environment. The events, comprising three in-person workshops and one webinar, addressed critical topics including UAE Commercial Companies Law, corporate compliance, UAE and GCC Customs Law, and Compliance Challenges on VAT & Excise Tax. The sessions attracted significant interest, with a total of 598 participants from across the private sector. Participants gained valuable insights and ideas on ways to reduce risks, adopt good corporate governance practices, ensure compliance with data protection regulations, customs tariff structures, Harmonised System (HS) code classification, the treatment of goods within free zones, customs valuation methodologies, customs audit procedures, and compliance strategies to overcome cross-border trade challenges within the GCC countries. Earlier Dubai Chambers has welcomed a delegation of 60 companies from Madagascar to explore investment opportunities and potential business partnerships during the Dubai–Madagascar Business Forum, which was held today at its headquarters. The event reaffirmed the significance of strengthening economic ties between Dubai and Madagascar and focused on advancing cooperation across high-potential trade and investment sectors. The forum was held in the presence of Andry Rajoelina, President of the Republic of Madagascar, who led a high-level delegation featuring ministers, senior government officials, and business leaders from Malagasy enterprises. The delegation was received by Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, together with representatives from Dubai's private sector. In his keynote address, President Rajoelina praised Dubai's remarkable global economic status and reaffirmed his country's interest in deepening bilateral relations across several priority sectors. During his welcome address at the forum, Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, stated: 'The steady growth in economic ties between Dubai and Madagascar reflects our shared commitment to strengthening bilateral partnerships and exploring new opportunities for impactful cooperation that support sustainable economic growth. Meanwhile in the first week of June, 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 per cent 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.
Hi Dubai
03-06-2025
- Business
- Hi Dubai
Dubai Chambers Strengthens Thai Ties as Investments Hit $626 Million
Direct Thai investments in Dubai have reached around $626 million over the past five years, according to Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, who reaffirmed the Emirate's growing economic ties with Thailand during a recent trade mission to Southeast Asia. Speaking at the 'Doing Business with Thailand' forum in Bangkok on May 29, Lootah announced the launch of a new Dubai International Chamber office in the Thai capital. The move, part of Dubai Chambers' 'New Horizons' initiative, aims to deepen collaboration with Thailand's private sector and open new avenues for trade and investment. Thailand is already one of Dubai's key trading partners in the ASEAN region. Non-oil trade between the two reached $6.5 billion in 2024, marking a 23% rise from $5.3 billion in 2023. Lootah highlighted this growth as a clear sign of the strengthening economic momentum between the two sides. The opening of the Bangkok office coincided with a broader trade mission involving 20 Emirati companies exploring market opportunities in Thailand. The initiative is part of Dubai Chambers' wider plan to establish 50 international representative offices by 2030 to support the global expansion of UAE businesses and bolster Dubai's position as a commercial hub. Lootah underscored the chamber's commitment to empowering local companies to access international markets, forge strategic partnerships, and contribute to Dubai's long-term economic goals. News Source: Emirates News Agency
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.
