Dubai Chamber Opens Second European Office in Milan A Milestone

09 Sep, 2023

Dubai Chamber Opens Second European Office in Milan A Milestone

Dubai International Chamber, a pivotal component of Dubai Chambers, recently celebrated the inauguration of its Milan office, a move that underscores its dedication to augmenting trade and investment links between Dubai and Italy. This auspicious opening not only solidifies its European presence, having already unveiled a London office in June, but also elevates its global network of representative offices to an impressive count of 23 across the globe.

The ceremonial event marking the establishment of the Milan office was graced by notable dignitaries such as Naser Al Khaja from the UAE Embassy in Italy and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, alongside esteemed members of the Italian business community.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted the significance of this expansion, emphasizing its potential to catalyze growth in Dubai's non-oil trade with Italy and other European nations. Moreover, the move aligns with the ambitious Dubai Global initiative, aiming to establish a formidable network of 50 global offices by 2030.

The statistics speak volumes about the flourishing ties between Dubai and Italy. In 2022, non-oil bilateral trade soared to over EUR 8.5 billion, marking a 7% year-on-year surge. Impressively, the first seven months of 2023 witnessed a remarkable 49% increase, with 228 new Italian companies enrolling with the Dubai Chamber of Commerce, raising the tally to 1,758 Italian member companies.

Dubai's allure as a strategic business hub, fortified by its prime location and world-class logistics infrastructure, has captivated Italian enterprises with global aspirations. Dubai International Chamber's unwavering commitment to nurturing bilateral trade and investment with Italy aligns perfectly with the emirate's five-year trade plan, aiming to elevate non-oil foreign trade to EUR 500 billion by 2026, in accordance with His Highness Sheikh Mohammed's vision.

In essence, Dubai International Chamber, a vital constituent of Dubai Chambers, is a force driving Dubai's ascension as a global business epicenter, enticing multinational corporations, and expanding the emirate's trade ties with burgeoning markets. Its mission aligns seamlessly with the ambitious goal of elevating Dubai's foreign trade from AED 1.4 trillion to AED 2 trillion by 2026, championed by His Highness Sheikh Mohammed.