Zimbabwe Business Council established in Dubai to boost trade volume and business relations
Dubai Chamber of Commerce has announced the establishment of the Zimbabwean Business Council with a main objective of promoting commercial interests of Zimbabwe and Zimbabwean businesses in Dubai. The business council also aims to promote Zimbabwe-owned UAE-registered companies as well as their goods and services in the UAE.
The launch of the Zimbabwean Business Council is in line with the chamber’s plans to establish new country-specific business councils and expand their roles to boost Dubai’s foreign trade and promote cross-border business opportunities for member companies.
“We aim to create new channels of economic cooperation between business communities in the emirate and promising markets around the world. Covering markets of strategic importance to Dubai, business councils provide the right platforms for businesses in the UAE and abroad to connect, collaborate and build mutually beneficial partnerships. These councils will support us as we further expand our presence across Africa, Latin America and the Middle East and attract more companies and investment from these regions,” said Maha Al Gargawi, Executive Director of Business Advocacy at Dubai Chambers.
Commenting on the establishment of the new business council, Rungano Innocent Nyaude, one of the founding members of the council, said, “The Zimbabwean Business Council in the UAE looks to play a pivotal role in growing the Dubai-Zimbabwe business relations by bringing together Zimbabwean businesses operating in Dubai, building an ecosystem of coordination and networking which will in turn build further trade corridors between the UAE and Zimbabwe. The UAE is Zimbabwe’s second-largest export destination market and through coordination with stakeholders, it is our mission to play a part in strengthening the trade relations between the two countries and grow the business footprint of Zimbabweans in the UAE.”
Bilateral trade between the UAE and Zimbabwe witnessed strong growth between 2019 and 2021. UAE imports from Zimbabwe reached US$2.3 billion in 2021 compared to US$1.5 billion in 2020 and US$904 million in 2019, while UAE exports to Zimbabwe accounted at US$209 million in 2021. Main products of trade between the two countries are precious stones and metals.
The new business council will further strengthen burgeoning trade relations between Zimbabwean companies and the business community with other companies in the UAE, contributing to an increase in trade volume between the two countries.
The establishment of the Zimbabwean Business Council is a collaborative effort in improving the ease of doing business in Dubai in addition to creating a supportive, enabling and world-class business environment in the emirate.
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