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Dubai Chamber Encourages Local Companies to Expand into Indonesia

Photo : Government of dubai media office

Dubai International Chamber, a prominent entity operating within the broader framework of Dubai Chambers, recently concluded a fruitful first leg of its trade mission to Southeast Asia, focusing on Indonesia and Vietnam. At the forefront of this endeavor was the facilitation of 200 bilateral business meetings between Dubai and Indonesian companies. 

Comprising a delegation of 17 Dubai-based companies spanning diverse sectors like food and beverages, construction, healthcare, IT, environmental solutions, human resources, and perfumes/cosmetics, the trade mission was orchestrated under the banner of the 'New Horizons' initiative. This initiative, spearheaded by Dubai International Chamber, is designed to propel the international expansion of Dubai's business landscape and harness opportunities in burgeoning global markets.

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Highlighting the robust trade ties between Dubai and Indonesia, non-oil bilateral trade in 2023 surged to AED 12.9 billion, marking a notable 7.7% year-on-year growth. Over the past decade, this trade relationship has flourished, witnessing a substantial 53.6% increase from AED 8.4 billion in 2014 to AED 12.9 billion in 2023. Notably, the number of Indonesian companies registered with Dubai Chamber of Commerce stood at 99 by the end of 2023, underscoring the deepening economic engagement between the two nations.

The mission's inaugural day saw a high-profile business forum in Jakarta titled 'Doing Business with Indonesia,' drawing participation from 472 VIP officials, industry leaders, and Indonesian firms keen on fostering partnerships with Dubai enterprises. His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the mission's pivotal role in fortifying trade and investment relations, leveraging Indonesia's diversified economy.

Addressing the forum, Shaima Salem Alhebsi, Acting Chargé d'Affaires at the UAE Embassy in Jakarta, reaffirmed the UAE's commitment to fostering growth and investment across key sectors. She emphasized the strategic significance of the Comprehensive Economic Partnership Agreement (CEPA) in bolstering bilateral trade and investment cooperation.

Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, delivered an insightful presentation on Dubai's economic landscape, showcasing its attractiveness to Indonesian businesses. The event also featured a panel discussion delving into the intricacies of doing business in Indonesia, supplemented by bilateral meetings and site visits to Indonesian companies.

Dubai International Chamber identified several sectors ripe for export opportunities to Indonesia, encompassing aluminum, metals, precious stones, and copper articles. Conversely, commodities like wooden panels, palm oil, clothing, and cocoa butter present promising import avenues from Indonesia to Dubai. Noteworthy sectors for investment in Indonesia include automotive, construction, and agriculture, particularly in tropical fruit exports.

In essence, Dubai International Chamber's trade mission underscores a concerted effort to deepen economic collaboration between Dubai and Indonesia, fostering mutually beneficial partnerships and capitalizing on emerging opportunities in the Southeast Asian market.

May 7, 2024 3:31 p.m. 5566

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