Dubai, UAE – Dubai International Chamber, one of the three chambers operating under Dubai Chambers on Wednesday marked the official inauguration of its latest international office in Johannesburg, South Africa.
The new office further strengthens the UAE’s growing trade links with Africa and will seek to boost the level of bilateral investments between Dubai and South Africa.
The Johannesburg office brings the chamber’s total number of international representative offices to 21, five of which are located in Africa. The opening further consolidates Dubai International Chamber’s growing presence on the continent following the launch of representative offices in Kenya, Ethiopia, Mozambique, and Ghana. These play a crucial role in facilitating trade and investment flows between Africa and Dubai, as well as unlocking opportunities for Dubai companies in African markets.
“The new office in Johannesburg is yet another example of our commitment to positioning Dubai favourably in Africa, strengthening trade links with this vital continent and unlocking two-way investments,” Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers said. “In line with our strategic priorities and the emirate’s foreign trade plan, we are anticipating further growth in Dubai’s non-oil trade with South Africa and other key African markets, together with increased strategic investments from businesses on both sides.”
The UAE is the largest trading country and top host of foreign direct investment (FDI) in the MENA region, while South Africa is the UAE’s top trading partner on the African continent and the second-largest FDI host in Sub-Sahara Africa. According to Dubai Customs statistics, non-oil trade between South Africa and Dubai achieved year-on-year growth of 11.5 percent in 2022 to reach a total of AED22.3 billion ($6.07 billion).0
A total of 777 South African companies were registered with Dubai Chamber of Commerce by the end of 2022, representing growth of 77 percent since 2016. The new office is set to strengthen the already robust commercial relationship between the UAE and South Africa by identifying and capitalising on new trade and investment opportunities across a range of key sectors including precious stones and metals, agriculture, logistics, and mining.
Dubai offers easy access to 2.2 billion consumers, serving as a hub to enable South African companies to expand their footprints worldwide.