India, 27 October 2023: Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Chambers has announced the launch of the Dubai Business Forum. The prestigious event will be hosted at Madinat Jumeirah from 1–2 November 2023 under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’
The landmark event creates exciting opportunities for Indian companies to leverage Dubai’s strategic location and favourable business environment as a launchpad for their expansion plans in the Middle East and beyond. According to Dubai Chambers’ figures, non-oil bilateral trade between India and the UAE reached a total value of US$ 49.5 billion in 2022, achieving an impressive year-over-year growth of 10.5%.
Commenting on the launch of the forum, His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “This prestigious event will serve as a catalyst for change by creating an unrivalled platform for networking and dealmaking that will empower business leaders from across the globe. We look forward to hosting insightful sessions that will unlock fresh growth in trade and investments and transform the future of business.”
India is the UAE’s second-largest trading partner and was the first country globally to enter into a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, unlocking a host of benefits for cross-border trade and investments. According to Dubai Chamber of Commerce’s data, 22% of total new member registrations during H1 2023 were businesses with Indian owners.
Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, provides a comprehensive range of business support services to Indian companies through its representative office in Mumbai, which was launched in 2018 to strengthen bilateral ties and explore new avenues for economic cooperation. Currently, Indian entrepreneurs account for around a third of Dubai’s startup community.
Previously known as the Global Business Forum, the Dubai Business Forum will gather visionary Heads of State, government officials, global business leaders, and major international investors to redefine the rules of success. The event is set to bring together leaders from sectors including technology, retail, finance, travel and hospitality, real estate, and healthcare to participate in insightful discussions on transforming business for the future.
As part of the event, Dubai Chambers is also unveiling ‘The Deals Hub’ to unlock global trade and investment opportunities. The dedicated dealmaking space will host a full spectrum of agreements including major partnerships, joint ventures, mergers and acquisitions, IPOs, large investments and fundraising rounds, government contracts, cross-border trade agreements, and memorandums of understanding.