Dubai: Dubai Chamber of Commerce, a key entity under the Dubai Chambers umbrella, has successfully organized 166 bilateral business meetings between companies from Dubai and Malaysia in Kuala Lumpur, the capital city of Malaysia.
According to Emirates News Agency, these meetings were part of the chamber's trade mission to Malaysia under the "New Horizons" initiative. This initiative is designed to support the international expansion of Dubai-based companies by tapping into promising global markets. The trade mission saw participation from representatives of 20 companies spanning various sectors, including ICT and innovation, food and beverages, healthcare, pharmaceuticals, biotechnology, and several others.
Salem AlShamsi, Executive Vice President of International Relations at Dubai Chambers, emphasized the chamber's dedication to enhancing trade and investment cooperation between Dubai and high-potential global markets. He noted that the mission to Malaysia is a significant step towards facilitating local companies' international expansion and developing partnerships that bolster non-oil trade, thereby reinforcing Dubai's status as a global business hub.
As a highlight of the mission, the Dubai Chamber of Commerce organized a business forum in Kuala Lumpur titled "Doing Business with Malaysia," with support from the UAE Embassy in Kuala Lumpur, the National Chamber of Commerce and Industry of Malaysia, and Malaysia's Ministry of Investment, Trade, and Industry. The event saw participation from 240 attendees, including senior officials, business leaders, and Malaysian companies.
The forum featured speeches from prominent figures, including Salem AlShamsi, Dato' Seri N. Gobalakrishnan, President of the National Chamber of Commerce and Industry of Malaysia, and Dr. Sugumari Shanmugam, Senior Director of ASEAN Economic Integration Division, Ministry of Investment, Trade and Industry of Malaysia. A key outcome of the forum was the signing of a Memorandum of Understanding between Dubai Chambers and the National Chamber of Commerce and Industry of Malaysia. This MoU aims to enhance bilateral trade relations and strengthen business community ties between Dubai and Malaysia.
During the event, Dubai Chamber of Commerce presented an overview of Dubai's economic landscape and competitive advantages, highlighting it as a prime destination for Malaysian companies and investors seeking market expansion. The Malaysian Investment Development Authority also presented the country's economic strengths and key sectors offering promising business expansion and investment opportunities.
The chamber identified potential export products from Dubai to Malaysia, such as organic and inorganic chemicals, aircraft and spacecraft parts, turbo-jets and turbo-propellers, plastics, copper, iron, and nickel, alongside consumables like coffee, tea, and dairy products. Additionally, key investment sectors in Malaysia for Dubai-based companies include transport and warehousing, real estate, hotels and tourism, plastics, business services, and healthcare.