UAE companies ‘can do more’ with Brics

March 1, 2024, 10:08 AM

Brics benefits for UAE business
Focus on emerging markets
Dubai offers ‘unique ecosystem’

UAE businesses need to do more to take advantage of the UAE joining Brics and signing free trade agreements with various countries, according to the chairman of Dubai Chambers.

“Other countries are aware, but our business community needs to take advantage of what they can do with India, Indonesia, Turkey and other countries,” Abdul Aziz Al Ghurair, chairman of Dubai Chambers, told AGBI.

Dubai International Chamber launched 16 new international representative offices in 2023 to expand its global network to 31 across five continents.

With over 67,000 new companies joining the Dubai Chambers last year, the total number of active members reached almost 218,000.

The value of members’ exports and re-exports increased to more than AED 284 billion, growing 4.3 percent year on year.

Abdul Aziz Al Ghurair says that there needs to be more communication about the advantages of the UAE joining Brics

Since 2021, the UAE’s comprehensive economic partnerships agreements with India, Indonesia, Turkey, Israel, Kenya, Costa Rica and Cambodia have come into force.

It has also started negotiations with a number of other countries, including Serbia, Ukraine, Australia, the Philippines, Malaysia, Chile and Vietnam.

How will Saudi’s regional headquarters programme impact Dubai Chambers’ drive to attract more MNCs into the emirate? Watch the full video to find out.