Strengthening Business Ties Between Dubai and London
The Memorandum of Understanding has been signed by Dubai Chambers with the London Chamber of Commerce and Industry with the objective of enhancing bilateral economic and investment ties. It is set to build stronger connections between business communities, both in Dubai and London by encouraging collaboration on joint initiatives.
PC: Zawya
Under the MoU, Dubai Chambers will assist companies operating in London in all industrial fields with expansion and growth activities in Dubai. The MoU also stresses the use of Dubai as a hub in building trade and investment links at local and regional levels. The London Chamber of Commerce and Industry will also help Dubai businesses and investors to start cooperation and investments in the London business community.
These two comprise attending and co-organizing trade fairs, investment missions, conferences, and exhibitions. Both chambers of government also agreed to share data on trade and economics for the strengthening of mutual understanding and collaboration.
Signatories Show Shared Vision
H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Karim Fatehi MBE, Chief Executive of the London Chamber of Commerce and Industry, signed the MoU.
Speaking about this cooperation, H.E. Mohammad Ali Rashed Lootah emphasized the efforts of the Dubai Chambers in seeking international cooperation and promoting Dubai as a global commercial center for business and investment. He further added that Dubai Chambers is committed to strong international partnerships for constructive interaction that solidifies Dubai as one of the premier global hubs of trade and investments. There’s tremendous growth with the expansion of ties through collaboration to further business ventures to open up new areas of opportunity within regional as well as global markets. Through these, we work to build bridges of cooperation with business communities around the world, supporting economic growth as well as creating new opportunities to meet the aspirations of investors and businesses across diverse sectors.
This mirrors a statement Karim Fatehi MBE said, “This MoU is testimony to what can be accomplished by visionary leaders, members, and communities in building shared futures. Let us keep on working hand in hand, innovating together, and building a future where the power of our partnership is the cornerstone of our joint success.”
Supporting Strategic Goals and Economic Growth
The agreement supports the Dubai Chambers’ commitment to the Dubai Economic Agenda (D33), which seeks to double the economy of Dubai over the next ten years and positions the city as one of the world’s top three global hubs. Its key priorities include improving the business environment in the emirate, attracting international businesses and investments to the emirate, and supporting the international expansion of its members.
In addition, the Dubai Chambers remains keen on speeding up the growth of the digital economy in Dubai as well as institutional excellence by supporting the business sector in a sound investor-friendly economic climate.
The Memorandum of Understanding marks a critical development toward the strengthening of the centuries-old relationship between Dubai and London, which sets the course for a mutually beneficial expansion of bilateral trade and investments.
