Dubai Business Forum – USA In New York Strengthens Trade And Investment Ties Between UAE And US Companies

The Dubai Business Forum – USA in New York is a key event for enhancing trade and investment ties between UAE companies and their US counterparts. Officials from participating companies highlighted the forum's role in fostering international partnerships and exploring new cooperation avenues.

Shehab Gargash, Managing Director and Group CEO of Gargash Group, emphasised the significance of opening a Dubai Chambers office in New York. He stated that this move highlights the importance of the US market for Dubai and bolsters the emirate’s global economic network. Gargash mentioned that this office supports UAE firms by creating more opportunities for collaboration with major US institutions, reinforcing Dubai’s status as a global trade hub.

Gargash also noted that events held alongside the forum provide direct engagement platforms with leading companies. This interaction aids in expanding commercial relations and future cooperation. He added that the group plans to focus on digital transformation and advancements in artificial intelligence.

Matar Almehairi, CEO and Founder of Meerana Information Technology, highlighted how partnerships facilitated by Dubai Chambers with global markets, particularly the United States, open up vast prospects for developing the technology and AI sectors in the UAE. He pointed out that the US market's digital capabilities offer strong opportunities to attract skilled talent to support the UAE’s digital ecosystem.

Almehairi affirmed that Emirati talent is now globally competitive, aiming to empower these talents within the UAE’s AI ecosystem. He added that the country’s digital focus presents a significant economic opportunity in upcoming years.

Expanding Non-Oil Trade

Mohamed Jassim Al Rais, Chairman and CEO of Al Rais Investment Group, remarked on how events organised by Dubai Chambers create valuable connections with global commercial partners. Meetings held in New York facilitated engagement with leading investors and logistics companies, supporting non-oil trade growth between the UAE and the US.

Al Rais mentioned several meetings with institutions specialising in AI to explore advanced technology cooperation opportunities. He noted tourism as a key focus area, with the US market being crucial for Dubai. Investment in AI remains central to their future strategy, marked by a recent partnership with a major global AI firm.

Talabat's Growth Trajectory

May Youssef, Senior Director Leading Communications at Talabat, discussed how their headquarters in Dubai provides access to global talent and advanced logistics networks. She highlighted Talabat’s grocery and retail delivery business launched in 2019 now forms a substantial part of operations, growing by 40% according to recent financial reports.

This growth offers global suppliers entry into the UAE market through digital platforms like Talabat. Youssef noted ongoing discussions with US suppliers to cater to Dubai’s diverse customer base. Talabat's digital model facilitates easier international cooperation than before, enabling companies to reach UAE consumers without physical stores.

The UAE's innovation-driven ecosystem has significantly contributed to Talabat’s expansion. The company's listing on the Dubai Financial Market at 2024's end marked a milestone as one of the region’s most successful tech listings valued at around $10 billion. This reflects Talabat’s growth and long-term commitment to positioning the UAE as a global hub for digital trade.

With inputs from WAM