Dubai Chamber Hosts Israeli Delegation To Explore Investment Opportunities
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Led by the Federation of Israeli Chambers of Commerce (FICC), a senior business delegation convened at Dubai Chamber of Commerce and Industry’s headquarters last Monday to discuss the economic opportunities between Dubai and Israel.
The delegation visit was part of a trade mission organized by Dubai Chamber, with the goal of acquainting Israeli businessmen with Dubai’s business environment and competitive advantages. It’s worth noting that the trade mission comes only two months after Dubai Chamber and Tel Aviv Chamber of Commerce, represented by the FICC, signed a strategic partnership, which heralded bilateral economic cooperation.
The partnership would be beneficial for both countries’ business ecosystems. According to the release, with the agreement, both entities will produce a join study identifying synergies and sectors of mutual interest, create a roadmap of virtual events and commit to organizing a business delegation and mutual hosts. It would also involve hosting a joint business forum, as well as support for new businesses, startups and scale-ups with readily available resources and programs.
Throughout the week, the delegation met with key executives from Dubai Exports, Dubai Airport Free Zone, Dubai South, Expo 2020 Dubai, Jebel Ali Free Zone, DP World, Dubai Future Foundation, Dubai World Trade Center and Dubai Multi Commodities Center, and also visited the Sheikh Mohammed Center for Cultural Understanding.
H.E. Hamad Buamin, President and CEO of Dubai Chamber expressed his optimisim about the prospects for developing and expanding Dubai-Israel trade. He commented on the competitive advantages that Dubai can provide Israeli companies as a strategic trade hub to offer access to emerging markets across GCC, Africa and Asia. He also noted how Dubai is steadily becoming a preferred launchpad for startups as the Emirate introduces new incentives for entrepreneurs such as long-term residency visas and its recent virtual work visa. Uriel Lynn, President of the FICC, described the visit as a crucial step towards developing UAE-Israel trade relations and promoting mutual understanding that could pave the way for a strong cross-border cooperation.