Dubai International Chamber Facilitates Over 150 Bilateral Business Meetings In Senegal

Dubai International Chamber, one of the three chambers under Dubai Chambers, has facilitated over 150 business matching meetings between companies from Dubai and Senegal. These meetings took place in Dakar during the first leg of the chamber's trade mission to Senegal and Morocco, part of the "New Horizons" initiative aimed at expanding local companies into global markets.

The trade mission saw participation from representatives of Dubai-based companies across various sectors, including agriculture and food, beauty and cosmetics, construction, real estate, retail, electronics, energy, environmental solutions, fashion e-commerce, food and beverages, general trading, healthcare and medical supplies, information technology, oil and gas, and supply chain and logistics.

According to Dubai Customs data, non-oil trade between Dubai and Senegal reached AED3.4 billion in 2023, marking a year-over-year growth of 17.7%. By the end of Q1 2024, 60 Senegalese companies were registered as active members of the Dubai Chamber of Commerce.

During his opening remarks at the event, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated that Dubai is committed to strengthening its economic ties globally. He noted that the trade mission aims to explore investment opportunities and foster business partnerships between Dubai's private sector and new partners in Africa, particularly Senegal.

Dr. Serigne Gueye Diop, Minister of Industry and Commerce of Senegal, highlighted that Dubai serves as a role model in attracting foreign investment and supporting private sector growth. He added that Dubai's successes inspire Senegal to accelerate its economic development process.

As part of the roadshow, Dubai Chambers signed a Memorandum of Understanding with the Dakar Chamber of Commerce, Industry, and Agriculture. This agreement aims to enhance cooperation in organising events, trade missions, exhibitions, and conferences. It also focuses on exchanging knowledge and promoting mutual investments between business communities in Dubai and Senegal.

Business Forum

The first day featured a business forum titled 'Doing Business with Senegal,' organised by Dubai International Chamber with support from the UAE Embassy in Dakar. The event was also backed by several Senegalese organisations including the National Union of Chambers of Commerce, Industry and Agriculture of Senegal.

The forum attracted 247 participants comprising senior government officials from Senegal, business leaders, and local companies. The chamber identified promising sectors for exports from Dubai to Senegal such as mobile phones, electronics, vehicles, wheat, rice, light vessels, floating cranes, and bulldozers.

Investment Opportunities

Key sectors with investment opportunities in Senegal for Dubai-based companies include vehicles and spare parts, construction materials, renewable energy projects, agriculture initiatives, medical equipment supplies, and the pharmaceutical industry.

This trade mission underscores Dubai's commitment to fostering international business relationships and exploring new markets for its diverse range of industries.

With inputs from WAM