Dubai International Chamber Facilitates 200 Business Meetings In Jakarta To Enhance Trade

Dubai International Chamber has successfully initiated 200 bilateral business meetings between Dubai and Indonesian companies, marking a significant step in the week-long trade mission to Southeast Asia, which also includes Vietnam. This initiative is part of the 'New Horizons' project aimed at fostering the global expansion of Dubai-based businesses and tapping into new market opportunities.

The delegation comprised representatives from 17 diverse sectors such as food and beverages, construction, healthcare, IT, environmental solutions, HR management, and perfumes and cosmetics. This broad representation underscores the multifaceted approach Dubai is taking to enhance its international trade relations.

Recent data from Dubai Customs highlights the flourishing trade relationship between Dubai and Indonesia, with non-oil bilateral trade reaching AED12.9 billion in 2023, a 7.7% increase from the previous year. Over the last decade, this trade has surged by 53.6%, demonstrating a robust partnership that has grown significantly from AED8.4 billion in 2014.

As of the end of 2023, there were 99 Indonesian companies registered with the Dubai Chamber of Commerce, indicating a growing interest in the business opportunities available in Dubai.

The trade mission's first day featured a 'Doing Business with Indonesia' forum in Jakarta, supported by the UAE Embassy in Jakarta, Indonesia's Ministry of Investment, and KADIN. The event attracted a record attendance of 472 officials and business leaders, reflecting keen interest in forging partnerships with Dubai-based entities.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the mission's role in strengthening trade and investment ties between Dubai and Indonesia. He highlighted Indonesia's diverse economy and the potential benefits for Dubai businesses looking to expand into Southeast Asian markets.

Shaima Salem Alhebsi, Acting Chargé d'Affaires at the UAE Embassy in Jakarta, reiterated the UAE's commitment to enhancing growth and investment in key sectors through the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Indonesia.

The business forum included insightful discussions on Dubai's economic landscape, presented by Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers. A panel discussion also shed light on the nuances of conducting business in Indonesia.

The mission continued with more bilateral meetings and site visits to Indonesian companies on its second day. Dubai International Chamber identified several sectors with export opportunities to Indonesia for Dubai-based companies, including aluminium, metals, precious stones, and copper articles. Meanwhile, high-potential imports from Indonesia to Dubai include wooden panels and sheets, palm oil, clothing, and cocoa butter.

Investment prospects in Indonesia are promising in areas such as automotive, construction, and agriculture—especially in exporting tropical fruits—highlighting a multifaceted approach to enhancing bilateral trade relations.

With inputs from WAM