Dubai Chambers Strengthens Economic Ties with Bangladesh through Business Briefing and MoU

Dubai Chambers successfully hosted the Dubai-Bangladesh Business Briefing to bolster bilateral economic relations, focusing on trade, investment, and sectoral cooperation between the two regions.

The event culminated in the signing of a Memorandum of Understanding (MoU) between Dubai Chambers and the Dhaka Chamber of Commerce & Industry (DCCI), aiming to expand mutual trade and foster collaborative investment opportunities.

The MoU, signed by Mohammed Ali Rashed Lootah, President and CEO of Dubai Chambers, and Taskeen Ahmed, President of DCCI, outlines comprehensive support for enhancing business connections between Dubai and Dhaka. The agreement includes business-matching services, joint ventures, and initiatives to promote trade events and investment missions.

Lootah emphasized Dubai Chambers’ commitment to supporting Bangladeshi businesses by leveraging Dubai’s competitive advantages. He highlighted the goal of strengthening partnerships and contributing to shared developmental objectives.

Ahmed highlighted the growing presence of Bangladeshis in the UAE, with nationals making up 17% of Bangladesh’s total overseas workforce. He noted that trade between Bangladesh and the UAE reached nearly USD 2 billion in 2024, driven by favorable policies such as fiscal incentives, 100% foreign ownership, and tax exemptions.

The briefing also presented Dubai’s key investment opportunities for Bangladeshi businesses in sectors such as logistics, real estate, medical tourism, and software development. Additionally, promising opportunities in Bangladesh were identified in financial services, fintech, logistics, e-commerce, and healthcare.

The number of Bangladeshi companies active in Dubai Chamber’s membership reached 8,686 by the end of 2024, reflecting growing investor interest. This partnership marks a significant step towards enhancing bilateral trade and investment relations between Dubai and Bangladesh.

News Source: Emirates News Agency