Dubai Chamber of Commerce Welcomes Over 34,000 New Members in H1 2024, Marking 5% Year-Over-Year Growth

Government

Dubai Chamber of Commerce Welcomes Over 34,000 New Members in H1 2024, Marking 5% Year-Over-Year Growth

The Dubai Chamber of Commerce, part of the Dubai Chambers group, reported significant growth in the first half of 2024, with over 34,000 new companies joining as members. This represents a 5% year-over-year (YoY) increase, underscoring the emirate's growing appeal as a global hub for business, trade, and investment. The achievements align with the objectives of the Dubai Economic Agenda (D33), aimed at enhancing foreign trade and private sector competitiveness.

In H1 2024, the chamber issued a total of 372,000 certificates of origin, reflecting a 5.2% YoY growth. The value of members' exports and re-exports reached AED 145.9 billion, up 6.7% from the previous year. Additionally, 2,433 ATA Carnets were issued and received, with a combined value of approximately AED 1.6 billion.

His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, emphasized the significance of these developments: “The chamber's activity during the first half of the year reflects the emirate's growing position as a global capital for business, trade, and investment in line with the goals of the Dubai Economic Agenda (D33), which seeks to promote the growth of foreign trade and enhance the competitiveness of the private sector.”

The chamber's proactive approach also included reviewing 122 laws and draft laws in collaboration with Business Groups, achieving a 54.9% adoption rate of the recommendations. A total of 100 meetings were held with Business Groups and Business Councils, resulting in the establishment of six new country-specific Business Councils representing Costa Rica, Greece, Poland, Mexico, Colombia, and Kazakhstan.

Further initiatives included hosting 20 legal events attended by 1,500 participants, which focused on key topics shaping the legal landscape. The chamber also handled 79 mediation cases in H1 2024, marking a 5.3% increase compared to the same period last year.

The Dubai Centre for Family Businesses, operating under Dubai Chambers, continued its efforts to support the sustainability and competitiveness of family businesses. The centre organized events and training programs, including the 'Next-Gen Family Businesses Training Programme' and the 'Dubai Family Business Management Programme,' which attracted significant participation. The centre also launched an online library featuring around 2,000 educational resources tailored for family businesses.

Key Highlights:

New Membership Growth: 34,075 new members joined in H1 2024, a 5% YoY increase.
Export and Re-Export Value: AED 145.9 billion, up 6.7% YoY.
Certificates of Origin Issued: 372,720, a 5.2% YoY increase.
ATA Carnets Issued: 2,433, valued at approximately AED 1.6 billion.
Business Councils and Legal Initiatives: Six new Business Councils established, 122 laws reviewed with a 54.9% adoption rate.
Support for Family Businesses: Extensive training programs and the launch of an online library with 2,000 resources.

These achievements highlight the chamber's commitment to fostering a favorable business environment, enhancing public-private partnerships, attracting foreign direct investments, and supporting the international expansion of Dubai-based companies