In recent developments, Thai investments in Dubai have surged to approximately $626 million over the past five years, as revealed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. He expressed confidence in this upward trend, fueled by efforts to bolster economic relations between Dubai and Thailand. This includes the inauguration of a new Dubai International Chamber representative office in Bangkok.

The opening of this office is part of the Dubai Chamber of Commerce’s 'New Horizons' initiative, targeting Southeast Asia . Lootah described this as a strategic effort to bolster the UAE business community's footprint in the Thai market, thereby enhancing trade and investment opportunities.

Highlighting Thailand's role as a leading trading partner for Dubai in the ASEAN region, he stated, "Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides." The non-oil trade between Dubai and Thailand witnessed a notable increase of 23 percent, reaching $6.5 billion in 2024, up from approximately $5.3 billion in 2023.

This growth underscores the escalating economic bonds between the two nations, reaffirming the strategic significance of the Thai market in Dubai Chambers' global expansion endeavors. The launch of the Bangkok office coincided with a trade mission that introduced 20 Emirati companies to Thailand's investment landscape, aiming to enhance commercial relations and support the international expansion of UAE businesses.

Lootah emphasized that the Bangkok office marks the latest addition to Dubai Chambers' global network, aligning with their strategy to establish 50 representative offices worldwide by 2030. Such initiatives are poised to support Dubai's ambitions of expanding its foreign trade and reinforcing its status as a global economic nexus.

He further reiterated Dubai Chambers' dedication to facilitating local companies' access to international markets and fostering strategic partnerships, thereby supporting the emirate's economic vision and contributing to the sustainability and growth of its primary sectors.

Dubai Seeks Strengthened Economic Ties with Thailand

Comments