Dubai Chamber Boosts Local Businesses' Entry into Senegal Market

Post by : Elena Malik

Photo : Dubai Government Media Office

Dubai International Chamber, a key constituent of the Dubai Chambers network, has orchestrated a significant initiative to facilitate the entry of Dubai-based companies into the Senegalese market. This endeavor saw the orchestration of over 150 bilateral business meetings held in Dakar, Senegal's vibrant capital.

Part of the broader 'New Horizons' initiative, this trade mission spearheaded by Dubai International Chamber seeks to bolster the expansion prospects of local businesses by connecting them with lucrative opportunities in promising global markets. The initiative's inaugural leg in Senegal served as a pivotal platform for forging strategic alliances and fostering business synergies.

Representatives from an array of sectors, including agriculture, food, beauty, cosmetics, construction, real estate, retail, electronics, energy, and more, converged in Dakar to explore mutually beneficial partnerships. The diverse portfolio of participating companies underscores Dubai's multifaceted economic landscape and its quest for diversified growth avenues.

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Highlighting the burgeoning trade ties between Dubai and Senegal, recent data from Dubai Customs reveals a notable surge in non-oil trade, reaching a commendable value of AED 3.4 billion in 2023, reflecting a robust year-on-year growth of 17.7%. Moreover, the growing presence of Senegalese companies within the Dubai Chamber of Commerce signifies an increasing appetite for collaboration and engagement between the two economies.

Addressing the gathering, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, reiterated Dubai's commitment to fostering robust economic relations globally. He emphasized the mission's pivotal role in exploring investment prospects and nurturing strategic alliances, particularly within the burgeoning African market.

Echoing sentiments of admiration for Dubai's economic prowess, His Excellency Dr. Serigne Gueye Diop, Minister of Industry and Commerce of Senegal, lauded Dubai's exemplary efforts in stimulating foreign investment and nurturing a conducive business environment. He expressed aspirations for Senegal to emulate Dubai's success story, thereby accelerating its own economic development trajectory.

The strategic partnership between Dubai Chambers and the Dakar Chamber of Commerce, Industry, and Agriculture, cemented through a memorandum of understanding, signifies a commitment to fostering collaboration and knowledge exchange. This agreement aims to facilitate the organization of joint events, trade missions, and exhibitions, fostering a conducive environment for mutual investments and partnerships.

The highlight of the mission was the 'Doing Business with Senegal' forum, a collaborative effort supported by key stakeholders including the UAE Embassy in Dakar, the National Union of Chambers of Commerce, Industry, and Agriculture of Senegal, and the Senegalese Export Promotion Agency. This platform provided a conducive environment for meaningful dialogue, attracting participation from government officials, business leaders, and local enterprises keen on exploring synergies with the Dubai delegation.

The forum featured insightful presentations on Dubai's dynamic economic landscape and panel discussions exploring the myriad opportunities available in Senegal's burgeoning market. This knowledge-sharing endeavor aimed to equip participants with valuable insights and strategic guidance for navigating the intricacies of bilateral trade and investment.

The ensuing bilateral business meetings facilitated fruitful exchanges between Dubai and Senegalese counterparts, laying the groundwork for future collaborations. With a keen eye on promising sectors, Dubai International Chamber identified key export opportunities for Dubai-based companies, spanning mobile phones, electronics, vehicles, agriculture, and renewable energy, among others.

In conclusion, this trade mission epitomizes Dubai's proactive approach to fostering global economic partnerships and underscores its commitment to facilitating the growth and diversification of the local business landscape. Through strategic collaborations and knowledge-sharing initiatives, Dubai International Chamber continues to pave the way for mutually beneficial alliances, propelling Dubai's status as a global economic powerhouse.

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