(Dubai) – The Dubai Chamber of Commerce and Industry recently hosted a high-level business delegation from Europe to explore business opportunities in key sectors and fields related to Expo 2020 Dubai, including food and beverage, healthcare, ICT, energy, environment, construction and circular economy.
As part of the visit, Dubai Chamber facilitated nearly 300 business matching meetings for UAE business leaders and over 50 visiting European delegates representing companies based in the UK, Belgium, Greece, Hungary and Italy, said a Dubai Chamber press statement on Wednesday.
The delegation, led by Peter Bishop, Deputy Chief Executive of London Chamber of Commerce and Industry, met with Atiq Juma Nasib, Senior Vice President of Commercial Services at Dubai Chamber; Hassan Al Hashemi, Vice President of International Relations at Dubai Chamber; Omar Khan, Director of International Offices at Dubai Chamber; and other senior Dubai Chamber officials.
The meeting provided an opportunity for delegates to learn about Dubai’s economy, business environment and strategic vision for the future.
During the meeting, Nasib noted that the delegation visit comes at a time when economic ties between the UAE and Europe are strengthening following the expansion of direct flights, high-level visits and increased cooperation on key issues of mutual interest.
He revealed that Europe accounted for 19 percent of Dubai’s non-oil foreign trade in 2018, making it the second-ranked continent behind Asia, while Western Europe made up the largest share of Dubai-European trade, or US$50 billion.
In addition, Nasib noted that Dubai can benefit from the expertise of European companies in innovation-focused sectors as the country transitions to a knowledge-based economy. The emirate, in turn, offers foreign companies plenty of competitive advantages, including 100 percent foreign ownership, world-class infrastructure, excellent logistics facilities, and other recently introduced incentives such as a ten-year residency visa for investors and a five-year visa for entrepreneurs.
For his part, Bishop noted that the visit to Dubai Chamber is a key focus of the trade mission to the UAE which aims to explore business prospects and partnership opportunities, adding that the delegation would also visit the Expo 2020 site and various free zones throughout the country.