Dubai Chamber to support 100 businesses in global expansion drive

Dubai International Chamber has unveiled plans to support 100 local businesses expand globally by the end of 2024, under its 'New Horizons' initiative.

Launched last year, the initiative enables companies to join international trade missions and gain first-hand knowledge of establishing and operating their businesses in priority markets.

It's aim is to "assist in driving the international growth of member companies and will play a vital role in achieving Dubai’s goal of increasing non-oil foreign trade to AED 2 trillion by 2026, in line with the emirate’s five-year trade plan," explained Mohammad Ali Rashed Lootah, President and CEO of Dubai Chamber.

During a special meeting for the members, plans were revealed for upcoming roadshows to explore business opportunities in Asia, Europe, and East and West Africa later this year, as well as the Baltic region, ASEAN countries, Turkey, and other African markets during 2024.

On the agenda was information about the initiative’s successful trade missions to Central Asia, the United Kingdom, and South Africa in the first half of 2023. 

Roadshows in Uzbekistan, Kazakhstan and Kyrgyzstan took place in March, as part of the initiative, followed by trade missions to the Retail Technology Show in London in April and SAITEX in Johannesburg in June, with 38 companies participating in the three delegations.

More than 550 business meetings were arranged during the three roadshows to explore potential partnerships and discuss opportunities to strengthen bilateral ties and cooperation.