It is a gateway for intra-investments in the digital economy, agricultural and food technologies, space sciences and trade

Dubai Chamber World intends to open a representative office in Tel Aviv

During the meeting of the Dubai World Chamber delegation and the Israeli delegation.

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Dubai International Chamber, one of the three chambers under the umbrella of "Dubai Chambers", announced its plans to open a representative office in the Israeli capital, Tel Aviv, to be a gateway for joint direct investments and inter-trade between the two sides, in a quick translation of the comprehensive economic partnership agreement signed by the UAE and Israel.

The announcement came during a meeting held recently at the Chamber's headquarters, attended by the Director General of Dubai Chambers, Hamad Mubarak Buamim, the Israeli Minister of Economy and Industry, Orna Barbivai, and the Israeli ambassador to the country, Amir Hayek.

Attracting investments

Buamim stressed that the new representative office of the Chamber, which is to be opened in Tel Aviv, constitutes an important step towards enhancing joint trade and investment exchange, in order to achieve the objectives of the Comprehensive Economic Partnership Agreement by consolidating investment relations and stimulating non-oil trade, reaching $10 billion annually within the next five years. .

He added that the office will also play an important role in attracting quality Israeli investments in future vital economic sectors, such as the digital economy, information technology, artificial intelligence, smart services, agricultural and food technologies, and space sciences.

Buamim pointed out that trade is also a mainstay of economic cooperation between Dubai and Israel, expecting that Israel will become one of Dubai's 10 most important trading partners within a few years, especially that the Dubai International Chamber has identified, within its strategy, the Israeli market among the 30 priority markets for trade. Dubai, and through its new office, it will work to achieve the objectives of the Dubai Foreign Trade Plan approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

rewarding opportunities

He stressed that the office embodies the Chamber's commitment to exploring rewarding investment opportunities for the business community in the emirate, and enhances its presence in the Israeli market, and its ability to encourage mutual investments between the two parties, adding that the new office will enhance the openness of the business community in Dubai to a developed Israeli market capable of providing added value to Dubai merchants. and companies operating in the emirate.

economic cooperation

In turn, the Israeli Minister of Economy and Industry, Orna Barbivai, said: “Last week, on behalf of the Government of Israel, I signed the Comprehensive Economic Partnership Agreement between Israel and the UAE, and during a meeting I held after that with the Director General of Dubai Chambers, Hamad Buamim, in which Buamim affirmed our common goals by rapidly promoting cooperation. The Economist, announcing the opening of an office for the Chamber in Israel.

She explained that this announcement is another pillar of the two countries' commitment to strengthening economic ties and providing new opportunities for companies and businesses.

For his part, the Israeli ambassador to the country, Amir Hayek, considered the signing of the trade agreement a historic step that opens new horizons and opportunities for business for the two countries, and the Dubai Chamber's decision to open a representative office in Israel is an important step towards supporting joint cooperation between the two countries and their business communities.

 bridge construction

The new representative office, upon its opening in Tel Aviv, will constitute a platform for building bridges of cooperation between the business community in the two countries, as it will provide the business community in the emirate with the possibility to learn more about the most important and promising investment opportunities in the Israeli market, and help them expand their investment activities there.

It will provide the business community in Israel with all the facilities that enable it to know the competitive advantages, advanced infrastructure and business-stimulating legislations in the Emirate of Dubai, which enhance the attractiveness of its markets and allow for expansion to the region's markets.

Hamad Buamim:

"The representative office is an important step towards promoting joint trade and investment."

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