Dubai strengthens trade relationships with Indonesia through the establishment of the Indonesian Business Council by the Dubai Chamber of Commerce.
Dubai and Indonesia Strengthen Economic Ties with the Launch of Indonesian Business Council
Dubai, a global business hub, has seen a growing appeal among Indonesian businesses and investors, as evidenced by the launch of the Indonesian Business Council. This council, the 59th Business Council operating under Dubai Chamber's umbrella, was established by the Dubai Chamber of Commerce.
The head of the Indonesian Business Council, Rivo Setiawan, inaugurated a representative office of the Dubai International Chamber in Jakarta in 2023. This move signifies Dubai's continued efforts to strengthen Dubai-Indonesia business relations.
The commercial partnership between Dubai and Indonesia is robust, as reflected by the high volume of non-oil trade. In the first nine months of 2024, non-oil bilateral trade between the two regions exceeded AED 10 billion.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, emphasized the importance of Business Councils in fostering dialogue and cooperation between business communities.
In May 2024, Dubai International Chamber organized a trade mission to Southeast Asia, which included a 'Doing Business with Indonesia' forum. This event attracted 472 participants, including top officials and business leaders interested in partnership opportunities with Dubai-based companies. The trade mission resulted in 200 bilateral business meetings.
The Indonesian Business Council, despite being inaugurated, has not been mentioned as having conducted any additional activities or meetings beyond its inaugural annual general meeting, which took place at Dubai Chambers' headquarters.
Despite no significant increase in the number of Indonesian businesses registered as active members of Dubai Chamber of Commerce in 2024, the council aims to bolster trade and investment relations, unlock business opportunities, and foster collaboration between Dubai and Indonesia's business communities.
Interestingly, the number of Indonesian businesses registered as active members of Dubai Chamber of Commerce grew by 60% in 2024, reaching 160 by the end of the year. This growth can be attributed to the increased efforts by the Dubai International Chamber to strengthen Dubai-Indonesia business relations, as demonstrated by the trade mission and representative office in Jakarta.
The Indonesian Business Council, with its strategic position and goals, is poised to play a significant role in further enhancing the economic ties between Dubai and Indonesia.
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