Dubai International Chamber has inaugurated a new representative office in Milan to boost trade and investment between Dubai and Italy.
The opening of new Dubai International Chamber office further strengthens the chamber’s presence in Europe following the launch of its London office and increases its growing network of international representative offices to 23 worldwide.
The launch of the new office comes as part of the ‘Dubai Global’ initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, which seeks to establish an integrated network of 50 representative offices around the world by 2030.
Mohammad Ali Rashed Lootah President & CEO Dubai Chambers
“Strengthening our presence in the European market represents another important step that will enable us to capitalize on the opportunities created by the Dubai Economic Agenda and bring us closer to achieving the objectives of the emirate’s five-year foreign trade plan. Our new office in Milan is set to drive further growth in Dubai’s non-oil trade with Italy and other European countries, as well as increased strategic investments from businesses in both markets. I am confident this strategic opening will elevate our strong bilateral relations to new heights.”
The initiative is designed to reinforce Dubai’s position as one of the world’s leading commercial hubs by attracting investments, talent, and new business to the emirate while supporting the international expansion of Dubai-based companies into 30 priority markets.
Mr. Naser Al Khaja, Charge d’affaires at the UAE Embassy in Italy, said that, “Over the years, the UAE has successfully established strong relationships with Italian companies and institutions. Today, we are pleased to witness the enhancement of these partnerships with the opening of a representative office for the Dubai International Chamber in Milan. This reaffirms our mutual goal of strengthening ties and mutual business opportunities between the two countries, as well as building a commercial and investment network between two dynamic markets.”
Mr. Al Khaja added, “I believe that initiatives such as these contribute to enhancing the distinguished relationship between the UAE and Italy, attracting mutual investments, and building new partnerships and business projects across a variety of key knowledge and innovation-driven sectors in alignment with the comprehensive vision of the UAE and its balanced approach to economic and social development.”
Officials during the inaugural ceremony.
The new office of Dubai International Chamber in Milan will build strong relationships with key public and private sector stakeholders and deliver a comprehensive range of support to the Italian business community. In addition to assisting Italian companies seeking to enter the Dubai market and expand through the emirate, the office will support and guide Dubai-based businesses that plan to enter the Italian market throughout every stage of their international growth journeys.
According to the statement, “The opening supports the goals of the ‘Dubai Global’ initiative, which aims to attract foreign companies, SMEs, investors, and international talent to Dubai by showcasing the emirate’s competitive advantages, sharing market intelligence, and strengthening engagement with key international stakeholders.”
Dubai International Chamber
Dubai International Chamber, one of three chambers operating under the umbrella of Dubai Chambers, was established to promote Dubai as a global business hub, attract multinational companies, and expand the emirate’s trade ties with promising markets.
The value of non-oil bilateral trade between Dubai and Italy reached $9.1 billion (AED 33.7 billion) during 2022, representing a year-on-year growth of 7 percent. The key sectors for trade between the UAE and Italy include machinery, precious stones and metals, aluminum, tobacco, vehicle parts, footwear, and leather articles.
Dubai International Chamber aims to further enhance the commercial relationship between the two countries by identifying and capitalizing on new trade and investment opportunities in areas such as pharmaceutical products, agribusiness, the automotive industry, and consumer goods.
