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20 April 2024

Dubai International Chamber facilitates expansion of Dubai companies into foreign markets

Published
By WAM

Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, successfully concluded its trade mission to Uzbekistan, Kazakhstan and Kyrgyzstan last week. During the mission, the chamber facilitated over 430 B2B meetings between representatives of 24 Dubai-based companies and their relevant counterparts in these markets.

The participating businessmen affirmed that the Dubai Economic Agenda D33 supports their strategies for international expansion, as it enhances their businesses' competitiveness and ability to enter new markets. D33's ambitious goals motivate investors to expand their foreign exports and establish economic partnerships worldwide.

Representatives of the Dubai-based private companies stressed the importance of the emirate as a global hub for their business. They underlined that Dubai offers them confidence with its vibrant business ecosystem, which is a key factor in supporting their expansion to global markets from the emirate.

Several Dubai-based companies have already succeeded in either concluding deals to grow their exports to these markets or establishing a presence for their operations in these markets. The outcomes of these deals support the objectives of Dubai's economic agenda and align with the chamber's strategic goal to support the expansion of 100 companies from Dubai to foreign markets by the end of 2024.

One of the participants, Rashid Assouma, CEO of Homepital, expressed that the chamber's trade mission to Central Asia opened new opportunities in untapped markets for his business. Homepital specialises in remote health care technologies and AI and is currently negotiating deals with prospects to sign several joint agreements soon.

Assouma noted that the presence of his company in Dubai offered him a competitive advantage to expand to other markets, including Africa. Additionally, Dubai's D33 economic agenda has given him more confidence and enthusiasm for the future and the expansion of his business in foreign markets.

Safwan Arafeh, the President of SA Group Dubai, a company that provides branded generic medicines and food supplements in the pharmaceutical industry, expressed that the recent trade mission was successful in achieving the objectives of his company. The mission helped establish connections with potential clients and customers in Central Asia, and Arafeh secured a preliminary deal to export his pharmaceutical products to one of these markets. He attributes the success of his business to Dubai's developed infrastructure and connectivity to global markets, as his company exports to almost 40 countries. Arafeh also recognizes the support of Dubai's wise leadership and futuristic plans, including D33, in enhancing the competitiveness of his business.

Maher Al Kaabi, a member of the Board of Directors of Al Serkal Group, also expressed the success of the trade mission, as Dubai International Chamber brought together businessmen from both sides to discuss and mitigate challenges. He highlighted the UAE's experience in Fat, Oil and Grease waste recycling from food facilities as a source of national pride and an experience that should be transferred to other markets.

Muhammad Kausar, Marketing Manager at Sea Transit Shipping, said that the trade mission provided direct connections with clients in Central Asia and introduced him to new opportunities in grain exports. He emphasises that Dubai implies trust for the global business community as an international hub, and it is the centre of his business to export goods from Africa, India, and GCC countries to Central Asia.

Saleem Ramadan Saleem Shubair, the CEO of Euro Holography, spoke highly of the trade mission and the B2B meetings held, stating that he closed three agreements with Central Asian companies during the mission, which could not have happened without the support of Dubai International Chamber. Shubair emphasised Dubai's position as an ideal destination for innovation and technology and a leading global centre for business in all fields.

Jameel Palekar, Manager at Meshkat Electricals, lauded the trade mission as exemplary and credited Dubai International Chamber's support for enabling him to explore export opportunities to these markets. Palekar added that Dubai's openness to global markets supports the growth of businesses operating in the emirate.

Muhammad Arif Chara, the Director of Electric Avenue Trading, noted that Dubai acted as an incubator for his business as he launched his brand from Dubai to 35 markets worldwide. He now aims to export his products to hypermarkets in Central Asia, believing that D33 is key to growing his business and a motivation for him to invest fully in Dubai.

Ashraf Thayyil, the CEO of Bridgeway Medical Systems, praised the success of the trade mission, stating that it supported him in understanding regulations, registration processes, and incentives provided in the three markets. Thayyil aims to manufacture his products and semi-assemble them in Dubai before transporting them to the Central Asian markets and fully assembling them there. He noted that Dubai is a proactive city and global center for trade, technology, and innovation, fully aligned with the goals of D33.

Elias Khair, the General Manager of Halley Medical Supplies, described the trade mission as successful and professionally organised. He familiarised himself with the three new markets and their requirements for medical supplies, gathered information on the market, and understood the procedures of doing business and customs practices. With the help of Dubai International Chamber, he expects to expand into Central Asian markets before the end of the year as his discussions were fruitful.