Monday, July 31, 2023 – 2:18 PM
DUBAI, 31st July, 2020 (WAM) — The Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, announced the establishment of the Serbian Business Council. The Chamber hosted the Council’s first annual general assembly meeting, in the presence of representatives of 17 companies from Serbia. During the meeting, Dr. Marko Silakovich was appointed Chairman of the Council.
Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said: “We have had a strong relationship with Serbian companies over the past years, and we are pleased to take our partnership to a new level with the establishment of the Serbian Business Council. This initiative is part of our strategy to establish new business councils and support their role in enhancing business opportunities. Cross-border business and the consolidation of trade and investment relations between Dubai and major markets around the world.
Lootah stressed that the establishment of the new Business Council aims to consolidate the economic relationship between the two parties to achieve mutual benefit at the highest commercial and governmental levels by taking care of the interests of companies and strengthening the channels of participation and communication. We look forward to working closely with the Serbian Business Council to build bridges of cooperation in key sectors of mutual interest such as agriculture, automobiles, food and beverages, and real estate. I am confident that this cooperation will help local and Serbian companies achieve the growth they aspire to locally and globally.”
It is noteworthy that 207 Serbian companies are registered with the Dubai Chamber of Commerce, 40 of which joined the Chamber between January and June of this year. The continuous development between the two countries, in addition to the development of investments between Dubai and the Eastern European region.
The volume of non-oil bilateral trade between Dubai and Serbia increased from $51.6 million in 2021 to $73.4 million in 2022, an increase of 42%. The Dubai Chamber of Commerce identified many sectors with high potential for imports from Serbia, such as grains, fruits, paper and timber, while export opportunities from Dubai are represented in tobacco, optical and medical instruments, aircraft, spare parts, in addition to chemical products.
Business councils cover markets of strategic importance to Dubai, and constitute crucial platforms to help companies inside and outside the UAE communicate and build partnerships in the interest of all parties, as well as open new channels of economic cooperation with business communities around the world.
Islam Al-Hussein / Salama Al-Shamsi
2023-07-31 10:20:34
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