Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry, stated that Iraq holds significant potential for Dubai businesses.
Dubai Chamber of Commerce and Industry (DCCI) plans to open its third international office in Iraqi Kurdistan during the first quarter of 2014, according to Hamad Buamim, DCCI president and CEO.
Buamim remarked, “Kurdistan is a market that is experiencing considerable growth.” He also added, “Iraq as a whole, given its rebuilding efforts, has significant potential for Dubai businesses to increase trade and investment and the stability of the Kurdistan region offers a suitable base.”
As the part of global strategy, the chamber opened its second international branch office in Addis Ababa, Ethiopia last year. He said, “Africa is a major market for Dubai and we are positioning the emirate as a gateway into and out of the continent and seeking to increase two-way business and investment flows.”
He also added, “Ethiopia is a gateway to the lucrative markets of east Africa and beyond and our office is already helping to facilitate business on the ground.”
DCCI added 7,153 new members in the first six months of 2013, with its total member count reaching 145,000 by the end of June 2013. Dubai Chamber members’ exports and re-exports amounted to Dhs145.2 billion between January and June 2013, compared to Dhs136.2 billion during the same period in 2012.
Buamin remarked, “Looking ahead, 2014 promises to be another solid year of growth and development,” adding that, “Overall, the outlook is confident; business confidence is high and expectations are positive. We have much to look forward to in the years ahead, but first comes the hard work in preparation. I am sure that Dubai is more than up to the job.”