Dubai International Chamber to Open Office in Tel Aviv

By Staff, Agencies

The Dubai International Chamber is opening a representative office in Tel Aviv to facilitate trade and investment between the business communities of the “Israeli” entity and Dubai.

It is one of the emirate's three chambers of commerce.

According to an official announcement, the Tel Aviv office of the International Dubai Chamber will identify business and investment opportunities in the entity and "also support ‘Israeli’ companies in entering the Dubai market and assist them to leverage the emirate to expand their reach in the GCC [Gulf Cooperation Council], African and Asian markets.”

The announcement came after a meeting at the Chamber headquarters on Monday between Hamad Buamim, chairman and CEO of Dubai Chambers, the “Israeli” entity’s so-called Economy and Industry Minister Orna Barbivai and the entity’s Ambassador to the United Arab Emirates [UAE] Amir Hayek.

The development comes a week after the “Israeli” entity and the UAE signed a historic free trade agreement – the Comprehensive Economic Partnership Agreement – which aims to boost economic ties between both.

The agreement covers regulations, customs, services, government procurement, electronic commerce and the protection of intellectual property rights.

“By expanding our presence into ‘Israel’, we will be well positioned to achieve the objectives of the Comprehensive Economic Partnership Agreement signed by the UAE and ‘Israel’, build new bridges between the two business communities and boost non-oil trade to reach $10 billion annually within the next five years,” Buamim said.