DUBAI, 4th June, 2024 (WAM) — Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has arranged more than 150 business matching meetings between companies from Dubai and Senegal.
The meetings took place in Dakar during the first leg of the chamber’s trade mission to Senegal and Morocco as part of the “New Horizons” initiative, which supports the expansion of local companies by connecting them with promising global markets.
Representatives of companies from Dubai operating across diverse sectors attended the trade mission, which included companies in agriculture and food, beauty and cosmetics, construction, real estate, and retail, construction materials, electronics, energy, environmental solutions, fashion e-commerce, food and beverages, general trading, healthcare and medical supplies, information technology, oil and gas, and supply chain and logistics.
Non-oil trade between Dubai and Senegal reached a value of AED3.4 billion in 2023, according to Dubai Customs data, achieving year-over-year growth of 17.7%. A total of 60 Senegalese companies were registered as active members of the Dubai Chamber of Commerce at the end of Q1 2024.
During his opening remarks at the event, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, “Dubai is continuing to strengthen its economic ties with countries around the world. Through this trade mission, Dubai International Chamber aims to explore investment opportunities and promising business partnerships between Dubai’s private sector and new business partners on the African continent, and Senegal in particular.”
During a meeting on the sidelines of the forum, Dr. Serigne Gueye Diop, Minister of Industry and Commerce of Senegal, emphasised that Dubai is a role model in stimulating foreign investment, supporting the private sector, and developing a legislative environment conducive to business growth and expansion.
He stated that the numerous successes achieved by Dubai serve as a source of inspiration for Senegal to accelerate its comprehensive economic development process.
As part of the roadshow, Dubai Chambers signed a Memorandum of Understanding with the Dakar Chamber of Commerce, Industry, and Agriculture. The agreement aims to strengthen cooperation and partnership in organising events, trade missions, exhibitions, and conferences, as well as exchanging knowledge and experience and promoting mutual investments between the business communities in Dubai and Senegal.
The first day of the roadshow featured a special business forum titled ‘Doing Business with Senegal,’ which was organised by Dubai International Chamber with the support of the UAE Embassy in Dakar, the National Union of Chambers of Commerce, Industry and Agriculture of Senegal, the Chamber of Commerce, Industry and Agriculture of Dakar, in addition to the National Agency for Investment Promotion and Major Projects of Senegal and the Senegalese Export Promotion Agency.
The event attracted 247 participants, including senior figures from the Senegalese government, business leaders, and local companies.
The chamber has identified a range of promising sectors for exports from Dubai to Senegal, including mobile phones, electronics, vehicles, wheat, rice, light vessels, floating cranes, and bulldozers.
Key sectors with investment opportunities in Senegal for Dubai-based companies include vehicles and spare parts, construction, renewable energy, agriculture, medical equipment, and the pharmaceutical industry.
