Dubai Chamber looks East with the first Global Business Forum on ASEAN
- Global Business Forum on ASEAN to be held on 9-10 December 2020, during Expo 2020
- Buamim: ASEAN region with its quest for new markets and rising consumer demand presents an opportunity for Dubai to explore new avenues for bilateral cooperation
- Dubai- ASEAN bilateral trade reached $21 billion in 2018
- ASEAN countries have a combined population of 650 million people and GDP of $2.9 trillion
Dubai, UAE: Dubai Chamber organised a briefing session, recently, to create awareness among Ambassadors and Consul Generals from ASEAN countries about the first Global Business Forum ASEAN (GBF ASEAN) and gain their support.
GBF ASEAN, to be held on 9-10 December 2020, during Expo 2020, underlines the importance of this emerging 10 member economic giant, with a combined population of 650 million people, GDP worth $ 2.9 trillion, and the opportunities it offers.
Dubai’s relations with the ASEAN countries has a lot of scope for growth, with bilateral trade accounting for $21 billion in 2018. Vietnam, accounting for 37% or $8.0 billion of the trade, remains Dubai’s largest ASEAN trading partner, followed by Thailand at 17% and $3.8 billion worth of bilateral trade.
Elaborating on this, H.E Hamad Buamim, President & CEO, Dubai Chamber, expressed his confidence in the vast potential that ASEAN has to offer and said there is still tremendous scope for companies in Dubai to boost exports to ASEAN markets in the future.
He also pointed out that, Dubai, according to him, fits very well with ASEAN countries expansion plan as it is already serves as a preferred trade and investment hub for many Southeast Asian companies and offers ASEAN entrepreneurs the opportunity to benefit from the various competitive advantages that Dubai has to offer.
“I encourage the Southeast Asian companies to full advantage of the Global Business Forum on ASEAN and other business events happening at Expo 2020 Dubai, which include country focus briefings on Vietnam, Cambodia and 28 other promising markets,” he remarked.
The welcome remarks were followed by a more detailed presentation by Omar Khan, Director of International Offices, Dubai Chamber, where he focused on Dubai Chamber’s expansion strategy, and the pivotal role played by the Global Business Forum Series, their flagship event.
He also elaborated on how the Global Business Forum on ASEAN is the logical step in taking Dubai’s relations with the Southeast Asian countries to the next level. “Backed by economic partnership agreements, strong business ties, direct flight connections, we can build on the existing synergies and explore new opportunities in sectors, such as education, healthcare, technology, water that align with UAE’s diversification strategy to foster sustainable and knowledge-based growth”
The Global Business Forum was launched in 2013 under the patronage of HH Sheikh Mohammad bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, as a platform for high-level dialogue between Dubai and emerging markets that offer business potential. Until date, Dubai Chamber has organised five GBF Africa, 1 GBF CIS countries and three GBF Latin America.