DUBAI, United Arab Emirates–(BUSINESS WIRE)–Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has inaugurated a new representative office in Milan to boost trade and investment between Dubai and Italy. The opening strengthens the chamber’s presence in Europe following the launch of its London office in June and increases its growing network of international representative offices to 23 worldwide.
The official inauguration ceremony for the Milan office was held with the participation of Naser Al Khaja, Charge d’affaires at the UAE Embassy in Italy, and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, in the presence of distinguished representatives of the Italian business community.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Our new office in Milan is set to drive further growth in Dubai’s non-oil trade with Italy and other European countries, as well as increased strategic investments from businesses in both markets. The opening comes as part of the Dubai Global initiative, which seeks to establish a powerful network of 50 offices worldwide by 2030.”
The value of non-oil bilateral trade between Dubai and Italy exceeded EUR 8.5 billion during 2022, representing YoY growth of 7%. 228 new Italian companies registered with Dubai Chamber of Commerce during the first seven months of 2023, an increase of 49% compared to the same period in 2022 that brought the total number of Italian member companies to 1,758.
With its strategic location and world-class logistics facilities, Dubai has emerged as a preferred business and trading hub among Italian companies with global ambitions. Dubai International Chamber remains committed to strengthening bilateral trade and investment with Italy as part of its drive to boost non-oil foreign trade to EUR 500 billion by 2026, in line with the goals of the emirate’s five-year trade plan.
Dubai International Chamber, one of three chambers operating under the umbrella of Dubai Chambers, was established to promote Dubai as a global business hub, attract multinational companies and expand the emirate’s trade ties with promising markets. The chamber has a mandate to meet His Highness Sheikh Mohammed’s ambition to increase Dubai’s foreign trade from AED 1.4 trillion to AED 2 trillion by 2026.
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