UAE Chambers And Australian Chamber Of Commerce Sign MoU To Enhance Trade Relations

Abdallah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), emphasised the Federation's dedication to enhancing international partnerships. This commitment aims to support local businesses in entering strategic global markets, thereby benefiting the private sector and boosting the national economy. The focus is on introducing Emirati entrepreneurs to global investment opportunities, especially in Australia.

The signing ceremony for a Memorandum of Understanding (MoU) between the Federation of UAE Chambers of Commerce and Industry and the Australian Chamber of Commerce and Industry (ACCI) took place at the Sharjah Chamber’s headquarters. Abdallah Sultan Al Owais and Lyall Gorman, Vice President of ACCI, signed the MoU. Present were Mohammed Ahmed Amin Al-Awadi, Director-General of SCCI, Ahmed Juma Al Qaizi, Assistant Secretary-General of the UAE Chambers, Dr. Fatema Khalifa Al Muqarrab, Director of International Relations Department at SCCI, along with several officials from both sides.

Al Owais stated that by building partnerships with international organisations and federations, they aim to foster cooperation. This involves broadening joint initiatives and advancing trade, economic, and investment relations both now and in the future. He highlighted that these efforts are crucial for developing the UAE business landscape.

Lyall Gorman expressed that the MoU offers a significant opportunity for collaboration and mutual interest. He hopes to deepen strategic dialogue between both parties to stimulate economic engagement. This includes exchanging trade information and strengthening connections across all business levels.

The Memorandum outlines plans for exchanging trade and investment market insights between the two nations. It also covers recent developments in legal and regulatory frameworks governing business sectors. Additionally, it encourages commercial delegations' exchange to strengthen ties between UAE and Australian business communities.

The Federation’s efforts are directed towards securing greater benefits for both private sector growth and national economic development. By targeting markets like Australia, they aim to introduce Emirati entrepreneurs to new expansion strategies.

With inputs from WAM