Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully arranged more than 150 business matching meetings between companies from Dubai and Senegal.
The meetings took place in Dakar during the first leg of the chamber's trade mission to Senegal and Morocco as part of the ‘New Horizons’ initiative, which supports the expansion of local companies by connecting them with opportunities in promising global markets.
Non-oil trade between Dubai and Senegal reached a value of AED 3.4 billion in 2023 according to Dubai Customs data, achieving year-over-year growth of 17.7%. A total of 60 Senegalese companies were registered as active members of Dubai Chamber of Commerce at the end of Q1 2024.
His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented:
“Dubai is continuing to strengthen its economic ties with countries around the world. Through this trade mission, Dubai International Chamber aims to explore investment opportunities and promising business partnerships between Dubai's private sector and new business partners on the African continent, and Senegal in particular.”
His Excellency Dr. Serigne Gueye Diop, Minister of Industry and Commerce of the Republic of Senegal, emphasised that Dubai is a role model in stimulating foreign investment, supporting the private sector, and developing a legislative environment conducive to business growth and expansion. His Excellency stated that the numerous successes achieved by Dubai serve as a source of inspiration for Senegal to accelerate its own comprehensive economic development process.
As part of the roadshow, Dubai Chambers signed a memorandum of understanding with the Dakar Chamber of Commerce, Industry and Agriculture. The agreement is aimed at strengthening cooperation and partnership in organising events, trade missions, exhibitions and conferences, as well as exchanging knowledge and experience and promoting mutual investments between the business communities in Dubai and Senegal.
As part of the business forum, the chamber delivered an informative presentation on Dubai’s trade and economic landscape that highlighted the competitive advantages the emirate offers for Senegalese companies. In addition, an insightful panel discussion featuring experts from prominent economic sectors discussed the opportunities available in the Senegalese market for companies from Dubai, together with valuable guidance for businesses and investors.
This was followed by a series of bilateral business meetings between representatives of companies from Dubai and Senegal, which continued during the second day of the mission.
The chamber has identified a range of promising sectors for exports from Dubai to Senegal including mobile phones, electronics, vehicles, wheat, rice, light vessels, floating cranes, and bulldozers. Key sectors with investment opportunities in Senegal for Dubai-based companies include vehicles and spare parts, construction, renewable energy, agriculture, medical equipment, and the pharmaceutical industry.
News Source: Dubai Media Office
