Dubai Chamber opens first overseas office in Azerbaijan

In line with its new strategy of reaching out to the promising markets of the world, the Dubai Chamber of Commerce and Industry has opened its first overseas office in the Azerbaijani capital of Baku which is seen as a giant leap forward in establishing the global presence of UAE companies in Central Asia and the Caucasus region.

The setting up of the maiden representative office will open up a gate of opportunities for Dubai Chamber members in the Azerbaijan market, especially in the areas of agriculture and food processing, transport and logistics, construction and infrastructure and other important sectors. It will also lead to a two-way trade as Azeri companies will get all the information they would need for entering the Dubai market and the rest of the GCC region through the emirate.

This opening of Dubai Chamber’s first representative office in Baku will be followed by a series of offices in areas offering high investment potential for Dubai businesses to explore the investment opportunities in these emerging markets safely and quickly.

Hamad Buamim, Director General, Dubai Chamber, said: “The opening of this first overseas representative office is part of Dubai Chamber’s new strategy to stir the economic growth of the emirate by promoting Dubai globally while enhancing its business competitiveness in the overseas market.”

Buamim further stressed that the new office will provide easy access to Dubai’s business community in expanding their business interests in the markets of Central Asia while introducing and guiding them to the investment opportunities available in that part of the world. It will also help them to know about the prevailing legal regulations and requirements for setting up business in the country.

The announcement of the opening of the new office, which is located in a throbbing business district of the Azerbaijan capital Baku, came on the sidelines of the UAE-Azerbaijan Business Forum held on the second day of the four-day long trade mission.

Trade between the UAE and Azerbaijan in the first nine months of the year was $300 million, showing an increase of 24 per cent in comparison to the same period last year. He added that the UAE companies have invested over $200 million in Azerbaijan.

By Staff, November 14, 2012