With an eye on the long term, Dubai opens its chamber of commerce office in Mexico to try to intensify economic relations between both nations
With an eye on the long term, the Dubai Chamber of Commerce or Dubai Chamber opened its offices in Mexico, with which it seeks to strengthen the commercial relationship and investment opportunities in both countries.
“Mexico is Dubai’s second partner and we see that it can become the main trading partner,” said Hamad Buamim, SEO and president of the Dubai Chamber, in an interview.
In 2021, with 1,200 million dollars (mdd), Mexico was the second commercial partner of Dubai, only behind Brazil. Imports to the Middle Eastern country from Mexico reached 1,100 million dollars.
“The relationship can be valuable to both sides. We know what Mexico is doing in all markets, and it can do more. Dubai can open up opportunities for Mexico in India, Africa and Central Asia,” Buamim said.
The CEO of Dubai Chambers explained that, in a first step, they want to focus on trade, in sectors such as agriculture, industry, pharmaceuticals and automotive. Due to the pandemic, the opening of the Dubai Chamber office was delayed by 2 years, as it was scheduled for March 2020.
Hamad Buamim stressed that, during the height of the coronavirus, when activities were restricted, the offices allowed work to continue as normal. “Due to the pandemic, these offices became more active in continuing relationships,” he noted.
In addition to the pandemic, the war between Russia and Ukraine has made people rethink how to invest.
“We are not thinking about 2022 or 2033. We are thinking more about 10 years, how can we build a stronger relationship by 2030? How can we grow trade three times as much? How can we bring tourists from Dubai to Mexico and vice versa? How can we help each other go further?” Buamim commented.
Dubai Chamber represents 300,000 companies interested in investing in Mexico but also seeks to support Mexican entrepreneurs and investors who want to come to Dubai, whether they seek to establish themselves in that country, or to reach other points in the region, assured Hamad Buamim.
“Once we understand better what is happening in Mexico, we will promote Mexico in Dubai. We will share more information and there will be someone here, every day, giving information to Dubai”, anticipated Buamim.
He stressed that the information offered by the Chamber will be completely free for Mexicans seeking to reach Dubai.
“We always look for win-win relationships and connect businesses,” he said.