Media ININ Economy We Trust
31 / Jul
Mohammed Lootah: A strong commercial relationship with Serbia, and the Council is strengthening it
207 companies registered with the Chamber in various sectors
Dubai
The Dubai Chamber of Commerce announced the establishment of the Serbian Business Council, where it hosted the first annual general assembly meeting of the council, in the presence of representatives of 17 companies from Serbia, and during the meeting, Dr. Marko Selakovich was appointed as the chairman of the council.
Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said: “We have a strong relationship with Serbian companies, which we have established over the past years, and we are pleased to take our partnership to a new level, with the establishment of the Serbian Business Council, and this initiative falls within our strategy to establish new business councils and support Its role in promoting cross-border business opportunities and consolidating trade and investment relations between Dubai and major markets around the world.
Lootah stressed that the establishment of the new Business Council aims to consolidate the economic relationship between the two parties, to achieve mutual benefit at the highest commercial and governmental levels, by taking care of the interests of companies, and strengthening channels of participation and communication, and we look forward to working closely with it to build bridges of cooperation in the main sectors of common interest. For example, agriculture, cars, food and beverages, and real estate, and I am confident that this cooperation will help local and Serbian companies achieve the growth they aspire to locally and globally.
40 new companies
There are currently 207 Serbian companies registered with the Dubai Chamber of Commerce, 40 of which joined the Chamber between January and June of this year. In an important step to strengthen economic relations between Dubai and Serbia, the Council will work to take care of the interests of Serbian companies in Dubai and companies registered in the UAE and owned by Serbian parties. It will also provide opportunities for continuous linkage and communication between the two countries, in addition to developing investments between Dubai and the Eastern European region.
The volume of non-oil bilateral trade between Dubai and Serbia increased from $51.6 million in 2021 to $73.4 million in 2022, an increase of 42%. The Chamber identified many sectors with high potential for imports from Serbia, such as grains, fruits, paper and timber, while export opportunities are From Dubai in tobacco, optical and medical instruments, aircraft and spare parts, in addition to chemical products.
It is noteworthy that business councils cover markets of strategic importance to Dubai, and constitute very important platforms to help companies inside and outside the Emirates to communicate, build partnerships in the interest of all parties, as well as open new channels of economic cooperation with business communities around the world.
